case study1
Down market department stores plc sell a high proportion of their merchandise on hire purchase (HR). The HP debtors ledger is kept on a specially designed computer system. the HP debtors of the company at 30.9.-x7 appear in the accounts at 4.54 million out of gross assets of 23 million
discussion
what assertions are the directors implying in stating the HP debtors at 80780 million?
what possible misstatement could occur?
what varieties of evidence may be collected re this current asset?