Invited Speech at All Island Sweet Manufacturers - AGM 2015

2015 -

(Accounting),

(Internal Auditing)

Panchama Pannilarathne : Financial and

Management Consultant

(ACCOUNTING)

(ACCOUNTING)

.

.

.

.

.

- (EFFICIENCY)

(ACCOUNTING)

(ACCOUNTING)

(ACCOUNTING)

- BALANCE SHEET

(Current Assets) 8,000

(Non-current Assets) 2,000

(Total Assets) 10,000

(Equity) 5,000

(Current Liabilities) 1,000

(Non-current Liabilities) 4,000

(Total Liabilities) 10,000

(ACCOUNTING)

/ - PROFIT & LOSS ACC / INCOME STATEMENT

(Sales) 100,000

(Cost of Sales) (65,000)

(Gross Profit) 35,000

(Other Income) 5,000

(Selling &

Distribution Expenses)

(15,000)

(Administrative Expenses (10,000)

(Operating Profit) 15,000

(Finance Cost) 2,000

(Profit before tax) 13,000

(Tax) 3,000

(Net Profit after tax) 10,000

(ACCOUNTING)

- (CASH FLOW STATEMENT)

- (STATEMENT OF CHANGES IN EQUITY)

(ACCOUNTING)

- (INVENTORY AGING REPORT)

30

31 60

61 180

180

- A 10,500 500 1500 -

- B 25,000 5,000 10,000 -

- C - - - 5,000

35,500 5,500 11,500 5,000

- X 4,000 - - -

- Y 2,000 - - -

6,000 - - -

- X - 3,600 3,400 -

- Y - 4,300 - 7,800

- 7,900 3,400 7,800

(ACCOUNTING)

- (DEBTORS AGING REPORT)

30

31 60

61 180

180

12,500 1500 1000 -

7,000 5,800 20,000 -

- - - 5,000

4,600 - - 800

7,000 - - -

- 3,000 3,400 -

- 4,000 - 7,800

31,100 14,300 24,400 13,600

(ACCOUNTING)

-

Source : Sage Small Business Accountants Usage report

(INTERNAL AUDITING)

(INTERNAL AUDITING)

. (OPERATIONAL INEFFICIENCIES)

. (FRAUDS)

. (BUSINESS RISKS)

. (INTERNAL CONTROLS)

. (INDEPENDENT)

-

(RECOMMENDATIONS)

(INTERNAL AUDITING)

. (OPERATIONAL INEFFICIENCIES)

. (FRAUDS)

(INTERNAL AUDITING)

.

(BUSINESS RISKS)

- (STRATEGIC AND

MARKET RISKS)

- (FINANCE AND

OPERATIONAL RISKS)

(INTERNAL AUDITING)

-

SOURCE : REPORT TO THE NATIONS 2015 BY ASSOCIATION OF CERTIFIED FRAUD EXAMINERS

SPECIAL THANK TO THARINDU VIDANAGAMAGE FOR THE SUPPORT GRANTED

THANK YOU!