ABC Company Inc.

WORKING FILE OF FINANCIAL STATEMENTS

DEBIT BALANCE
A. Year 2022 P 2,694,220.13
B. Unadjusted Trial Balance of Year 2023 7,202,283.88
C. Adjusted Trial Balance of Year 2023
D. CAJE
Tax and Licenses
Cash in Bank- BDO (checking)
E. Prior Period
Prior period error of 205, 936.13 add to
Retained earnings
Increase cash and cash equivalents amounting
to 247, 409
What the successor auditor should do:
1. Ask the management for variance
2. Ask the previous auditor, if possible
F. Findings
Findings #1 Prior Period Error
Findings #2 Improper Presentation of Adjusting Entries

BASIS
IAS 8 - Accounting Policies, Changes in Accounting Estimates and Errors
 Inc.
IAL STATEMENTS
CREDIT BALANCEVARIANCE
2,488,284.00 205,936.13
6,996,347.75 205,936.13