Essay: Account Receivables

Sample Essay

The accounts receivables of the company are at an appropriate level in 2000 and 2001 but show a significant increase in 2002 at a level of $20.32 million which elevates the concern of overstatement by company management in subsequent years. There is a high probability of revenues being overstated by the company management but the level of revenues and accounts receivable indicate that this overstatement is not as high as reported by the Securities and Exchange Commission.

Although financial statements of the company provide evidence of overstatement in revenues by the management of the company but these overstatements are quite different format the estimates provided by the commission. Even though the estimates and actual amounts presented in the balance sheet do not match, the company needs to take drastic measures in implementing internal control procedures to curtail similar activities in the future to avoid any mishap due to presentation of these amounts to the relevant stakeholders.

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