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.
- Solar Panel Income - Taxable? 178 2
- Value pricing 2,158 95
- Accountancy software for an imac 167 4
- Treatment of deferment duty in the correct accounting period 101 2
- CVA guidance 79 1
- LLP members share of profits 361 20
- SDLT on land 103 4
- Payroll Charging too much Tax? 219 2
- Can UK ACCA Practice prepare accounts for Indian company? 131 2
- why prior period posting will be single entry transaction and it wont have any balance transaction 219 3
- HMRC request for Sage Back Up 1,990 20
- PAYE coding notice - deliberate misstatement 572 15
- VAT Box 7 and supplies from unregistered traders 413 13
- PAYE Coding Notices 457 7
- March RTI Submission 139 1
- VT accounts licence key 547 9
- SDLT implications on an informal lease 85 1
- Renewable Heat Incentive Income - Taxable? 112 1
- VAT Option to tax 250 1
- From Ireland. Self-Employed or Foreign Income? 107 2
- Residential Property Purchase Above £750K 880
- Using Sage with Sofa Categories 614
- Free Tax Legislation? 362
- Goods shipped inter EU and VAT Reporting 356
- Director Loan account operation 353
- Non-Resident Director - UK Tax Position? 312
- transferring simply accounting 2010 from xp to windows 7 299
- Understanding the implications of January 2015 VAT changes for downloads on threshold for VAT registration 284
- Sage 200 and Access Dimensions reviews 272
- Paye procedures for CVA 203