EMBA Financial Accounting Part I Transaction Analysis Lasam Compan...

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EMBA Financial Accounting Part I Transaction Analysis Lasam Company beginning of Lasam bulance sheet isas followws (arncunts croditors) Taxes due 28 000s): origiaal WORKSHEET rease (Decrease) Part II Accounts Receivables and Inventory-Burberry Refer to the extracted financial for Burberry for fiscal year ended March 31. 2017 1. Does Burberry 2 As of Marc 31, 2017, what total amount Burberry receivable receivable)? 3. As March 2017. percentage of is outstanding trade receivable does 4. What wast expense recorded Burberry 1.20172 How much was the 5. What as of March 201721 allowance for doubtful accounts suffic cover this amount? Please 6 Which product exhibited to 15/16? 7. How does Burberry report its company measure using same metho 8. Does Burberry 9. What fraction of the total inventory balance Burberry as at March 2017 to finished goods? 10. Discuss the of Burberry (c.g. lifecycle operating financing March Part III: Accruals and Earnings Management income Lamek decreased 2016 Rose need koan i in 2016, not be hot until told Almond not 1 make any entries on Salaries Prepaid 1. Compute the met 2016 2. Why did that helped by what

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1. It reports its receivable balances on a net basis. See Note 15 (page 152) for more details about the provision for doubtful debts.
2. The total or gross amount is $201.3 million.
3. About 5%; to be exact, this is 4.72%. To arrive at the percentage, divide the amount of provision for doubtful debts by the gross amount of trade receivables.
4. Trade receivables net impairment charge, 2.4 (on page 142).
Increase in provision for doubtful debts, 2.4 (page 153).
Receivables written off, 0.3 (page 153)
5.      Impaired receivables that are overdue, 17.2 (on page 152).
Unimpaired receivables that are overdue, 20.9 (page 153).
Remember, provision was only at 9.5, hence, not sufficient.
One reason why this is all right – the provision doesn’t have to equal the sum of the overdue receivables, whether impaired or not – is the standards requires an estimate only; unless it is certain that collectability is impossible, provision will usually be lower than the overdue balances...

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