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Connolly Co

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August 11, 2020 at 1:23 pm #580117
toushiga
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Hello Miss,for PYQ DEC 2014 Q1 (c) recommended audi procedure
for the last second point: Why is it obtaining pre year-end sale rather than post year-end to confirm of indicator of impairment?
Thank you.
August 11, 2020 at 3:24 pm #580129
Kim Smith
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Because if there was a slump in sales of Cold Comfort brand products before the year end that would evidence impairment at the reporting date. A slump after the reporting date could provide evidence of conditions that did not exist at the reporting date.
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