Including working notes

CAPTAIN

Wha is the penalty for not including working notes when preparing financial statements, all the workings are done but were not included when preparing the Income Statement and Balance Sheet, for example

Revenue 52000 working 1

Cost of Sales 3200 working 2

The above example demonstrates how it should be done, but what happens when you do no include them, ???

A-Vic

do you mean when you did the workings you didnt reference them?

for example when i did mine i put W1 next to revenue and the working itself?

CAPTAIN

Yah i did not reference them

A-Vic

the working papers where tied to the question i think they might be able to reconise where you got the answers from, if i remeber rightly i don think i did for consolidated question but i think the notes were self explanitery