Missing / Stolen Money - Accounting Treatment
Wonder if anyone can help?
Just received the accounts from the accountantat my local club's AGM (and although advertised as MAAT MIP, isn't actual on the AAT MIP Directory!). There was some money missing during the year, but the missing money has been included in the purchases / cost of goods sold figure on the P+L. Is this the correct treatment?
I also think as the missing money was taken directly from the till from the takings, the VAT man will still want his cut. However, I am told this is not the case..
Any advice is much appreciated.
- Annual to At Least Quarterly 716 34
- Is Xero payroll as rubbish as I suspect it is? 1,474 30
- sale/transfer of shares in a private limited company to a related holding company 55 3
- Here we go.... 977 26
- Taxi Drivers Cost of Sale 466 19
- Maternity and claining expenses 23 1
- Digita Accounts Production Advanced - general perception 237 5
- An IT question 155 5
- SDLT 105 4
- Is cloud accounting actually pretty pants? 2,223 39
- Employment allowance changes 210 6
- Digital tax accounts - what do we expect? 738 13
- Voluntary dissolution of company 284 5
- Bankstream 987 23
- Excel - Sage Integrated Reporting 138 1
- Inter Company Loans 43 1
- Software that posts COGS? 570 13
- Xerocon 2016 533 9
- Disengagement Help! 368 12
- VAT on online services 211 2