DRC MANACCS MAR 20

1) One query from Fen notes remains uncleared. Difference in debtors

between listing and accounts points to a problem that must be isolated
and resolved.
2) Explain why admin cost is way above last year and budget
3) I note payroll cost on summary behind last year perhaps due to
reallocation to commercial; budgets on summary and commercial do not
appear correct though as variances don’t make sense. Please sort these
out or explain.
4) Have we amended the management fee provision on all subs to 3.5 / 1.5
as greed? Yes this has been amended
5) Have the VAT/Customs queries been resolved?
6) Expense schedule
a. Interest on O/D – is this on KE loan? I’d suggest an account for
interest on intercompany loan be created and amounts posted
there instead.
b. Dec Salaries look too low to be true? How come?
7) Expense Code analysis:
a. How does exchange gain arise from PCs?
b. Anti-Corona expenses scattered between U110 and U111?
These should be under U110.
8) What is the tax position of Staff meals?
9) SA0235 – Why outstanding as negative WIP?
10)Debtors > 3 months – Obtain supporting documents to vouch validity and
existence. Are customer statements/emails/letters sent as per policy?
11)Creditors – Explain Atlas and Satguru debits; are these unexpensed
costs?
12)