New Management plc is a pharmaceutical company selling to wholesalers and retail pharmacies. The new CEO was
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They were also told that if sales for the month to that customer were not 5% higher than the sales for the corresponding month for the previous year, they could say to the customer, off the record of course, that they could return any unsold stock after four months. In the last two months of the financial year sales were up 10 and 11% on the respective previous corresponding periods. The first month of the new financial year recorded a 10% drop in sales.
Required:
Critically discuss from the point of view of (a) an investor, (b) the auditor and (c) the CEO.
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Related Book For
Financial Accounting and Reporting
ISBN: 978-1292080505
17th edition
Authors: Barry Elliott, Jamie Elliott
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