Rugby Club Missing Money

Hi AW Members

I hope somebody with some experience in this field can help me.

 

My local rugby club recently had a bar manager / secretary that has been on fiddle for around 14 months.The accounts have will be published showing around £8000 of missing cash. There has also been speculation that people have seen him wheeling barrels of beer to another local pub. He is up for a meeting with the committee tonight to defend his self. The committee don't have a clue what to actually ask him as none are from an accountancy background r have much common sense! As I have just started AAT level 4 and work in a management accounts position, I have been asked to assist them in the meeting. Although I have managed to draw a list of suitable interrogative questions, I am still struggling a bit as I am way out of my comfort zone.

 

If I get several invoices for different beers, shorts etc and work out the gross profit on each and work out an average gross profit, for example 45%. The current gross profit is 34%. How would I work out the value of missing stock? Would it 45% - 34% = 11%. Then 11% x purchases for year = estimated value of missing stock?

As I've been given the accounts only an hour ago and the meeting is at 7pm, I'm getting my self into a bit of a muddle!

 

Any help would be very much appreciated, and also if you can point me into the direction of questions that I can ask to relate to the final accounts (I will use the questions and source the data to be more exact) this would also be greatly appreciated.

 

Many Thanks

John

Comments
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Missing Stock

jasongibson |

What about stock takers reports

dreamcatcher |
dreamcatcher's picture

Hi 

mrme89 |
mrme89's picture

best of luck with the meeting

Craigie_Bhoy |
Craigie_Bhoy's picture

what do you want?

mn2taxhbj |

Property management company

petersaxton |
petersaxton's picture

Hi 

mrme89 |
mrme89's picture

Lots of analysis in no time

The Black Knight |

Careful

petersaxton |
petersaxton's picture

@PeterSaxton - He did this

mrme89 |
mrme89's picture

Great

petersaxton |
petersaxton's picture

Then concentrate on that evidence

The Black Knight |

Like I said previously,

mrme89 |
mrme89's picture

Don't give up so easily

petersaxton |
petersaxton's picture

He is self employed?

memyself-eye |
memyself-eye's picture

Other issues

Roland195 |

I never thought about

mrme89 |
mrme89's picture

AAT Level 4

sue.fennell |

Personally I'm surprised that

Bob Long |

Sounds like they need a good Treasurer...........

Tony S |
Tony S's picture

MLR?

craig preece |

Treasurer

Roland195 |

Missing stock

casper007 |

moving forwards.....

sjmaccounting |

I'm overwhelmed with the

mrme89 |
mrme89's picture

Club VAT Returns

weaversmiths |
weaversmiths's picture

Yes it is a thankless task being a Treasurer

Tony S |
Tony S's picture