Question
Net profit for Greed & Mean Ltd for the year ended December 31, 2019, after charging remuneration to the CEO in the amount of $5.2
Net profit for Greed & Mean Ltd for the year ended December 31, 2019, after charging remuneration to the CEO in the amount of $5.2 million, amounted to $990 million. You have noted that the CEO has changed personal travelling expenses amounting to $800,000 to business expense.
Required: Will the CEO's personal travelling expenses have a material effect on the financial statements?
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Essentials Of Forensic Accounting
Authors: Michael A Crain, William S Hopwood
2nd Edition
1948306441, 978-1948306447
