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have adjusted loan notes int @ 12% nominal rate in both revised profit and current liability…
dont know where went wrong, not able to tally final statement of financial postion.
Keyroh:)
Me also received same question in Sec C.
However mine answer was also same that choosing factor is financially not viable.
However in another part of 4 mark question which is related to operating cycle, it was asked about what will happen to operating cycle if factor services availed, it will be reduced definitely but the tricky part was here to calculate cost of goods sold this is what I understood in that part rest was fine. I wrote about letter of credit and bad debt insurance in further part of question about how co can secure foreign receivables and some short term and long term sources for working capital financing.