Question
The following budgeted and actual information is provided for the year. As the auditor, explain which of these you would investigate further or accept. Medical
The following budgeted and actual information is provided for the year. As the auditor, explain which of these you would investigate further or accept.
| Medical Supplies Ltd. Financial ratios | ||
| Ratio | Actual | Budget (expected) |
| Gross profit percentage | 40% | 60% |
| Net profit percentage | 25% | 40% |
| Trade payables ratio | 70 days | 30 days |
| Current ratio | 1.35:1 | 1.80:1 |
| Acid test ratio | 0.85:1 | 0.80:1 |
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Valuing Agile The Financial Management Of Agile Projects
Authors: Alan Moran
1st Edition
0117082880, 9780117082885
