- Description
- Specifications
Accountants and Office Managers should be preparing work papers so as to ensure a consistent approach is taken to the preparation of financial accounts and the preparation of other information which is part of the business' overall accounting and record keeping obligations.
This paper analyses the work paper requirements for supermarkets and includes commentary under the following headings:
- Why Prepare Work Papers?
- Supporting Evidence
- Rented Property Statements (A1)
- Dividends Received (A2)
- Interest Received (A3)
- Donations/Fees (B1)
- Electricity/Telephone (B2)
- Insurance (B3)
- Interest (B4)
- Lease Payments (B5)
- Motor Vehicle Expenses (B6)
- Wages (B7)
- Petty Cash (B8)
- Repairs And Maintenance (B9)
- Hire To Related Entities (B10)
- Hire Of Equipment (B11)
- Equity holder's Funds (C1)
- Reserves (C2)
- Bank Reconciliation (D1)
- Cash In Hand (D2)
- Loans Related Entities (D3)
- Debtors (D4)
- Prepayments (D5)
- Beneficiaries'/Shareholders' Loans (D6)
- Stock On Hand (E1)
- Loans (F1)
- Shares (F2)
- Depreciation Schedule On Assets (G1)
- Acquisitions And Disposals (G2)
- Leased Assets (G3)
- Intangibles (G4)
- Borrowing Costs (G5)
- Interest Suspense Account (G6)
- Creditors (H1)
- Provisions/Accruals (H2)
- Beneficiary/Shareholder Loans (H3)
- Lease Liability (H4)
- Loans (H5)
- Hire Purchase Debt (H6)
- Loan Related Entities (H7)
- Key Performance Indicators Section Of Work Papers (I)
- Analysis Of KPIs (I1)
- Notes On Comparison To Previous Year And Budget (I2)
- Goods And Services Tax Section Of Work Papers (J)
- Provision For Taxation (K1)
- Taxation Accounts Reconciliation (K2)
and includes a Work Papers Index to be included in the supermarket's work papers.