Potential Misstatement in Allowance - for doubtful accounts...

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Pinnacle Manufacturing Estimate of Potential Understatement in Allowance for Doubtful Accounts 12/31/11 Gross accounts receivable $14,008,633 Auditor's suggested percentage for allowance based on your evaluation of A/R turnover, days to collect
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Unformatted text preview: for doubtful accounts 0.00% receivables, & the existing allowance as a % of gross receivables Auditor's suggested allowance balance - Client's existing allowance balance 698,583 Potential (overstatement) understatement (698,583)...
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This note was uploaded on 02/20/2012 for the course ACCOUNTING 80210 taught by Professor Barbarabates during the Spring '12 term at Central New Mexico Community College.

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