Preparing Your Business for a Financial Audit or Review: Part 3
Published
Sep 29 2014 at 4:00 PM GMT
Key
Points
Points
- MoneyTipsIn preparing for a financial audit or review, it is important to take a look at your year-end income statement balances as compared to the prior year balances.
- If there were large fluctuations, be prepared with explanations that are well thought-out.
- Pay particular attention to accounts comprising your gross margin.
- How was this year's sales as compared to last year's" How do your sales represent trends in your industry' Are there general economic trends affecting your industry" What do you anticip.
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- Published Sep 29, 2014 4:00 PM GMT