A	B	C	D	E	F	G	H	I	J	K	L
1		You can change any of the yellow-shaded cells on this screen: then click on Recalculate above.
2				2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
3		Inventory, beginning of year		is overstated by is understated by is correct	0 1000 1500 2000 2500 3000 3500 4000 4500 5000 5500 6000 6500 7000 7500 8000 8500 9000 9500 10000
4		Inventory, end of year		is overstated by is understated by is correct	0 1000 1500 2000 2500 3000 3500 4000 4500 5000 5500 6000 6500 7000 7500 8000 8500 9000 9500 10000		is overstated by is understated by is correct	0 1000 1500 2000 2500 3000 3500 4000 4500 5000 5500 6000 6500 7000 7500 8000 8500 9000 9500 10000		is overstated by is understated by is correct	0 1000 1500 2000 2500 3000 3500 4000 4500 5000 5500 6000 6500 7000 7500 8000 8500 9000 9500 10000
5		Assumed reported profit before tax			100000			100000			100000
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8		Required
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12		Enter your solution to Question 1 in the yellow-shaded cells in Rows 14 to 22.
13		Impact of errors on cost of goods sold (COGS)
14		Impact of beginning of year (B/O/Y) error on COGS		COGS is overstated by COGS is understated by no error, no impact			COGS is overstated by COGS is understated by no error, no impact			COGS is overstated by COGS is understated by no error, no impact
15		Impact of end of year (E/O/Y) error on COGS		COGS is overstated by COGS is understated by no error, no impact			COGS is overstated by COGS is understated by no error, no impact			COGS is overstated by COGS is understated by no error, no impact
16		Combined B/O/Y & E/O/Y impact on COGS		COGS is overstated by COGS is understated by No impact on COGS	0 500 1000 1500 2000 2500 3000 3500 4000 4500 5000 5500 6000 6500 7000 7500 8000 8500 9000 9500 10000 10500 11000 11500 12000 12500 13000 13500 14000 14500 15000 15500 16000 16500 17000 17500 18000 18500 19000 19500 20000		COGS is overstated by COGS is understated by No impact on COGS	0 500 1000 1500 2000 2500 3000 3500 4000 4500 5000 5500 6000 6500 7000 7500 8000 8500 9000 9500 10000 10500 11000 11500 12000 12500 13000 13500 14000 14500 15000 15500 16000 16500 17000 17500 18000 18500 19000 19500 20000		COGS is overstated by COGS is understated by No impact on COGS	0 500 1000 1500 2000 2500 3000 3500 4000 4500 5000 5500 6000 6500 7000 7500 8000 8500 9000 9500 10000 10500 11000 11500 12000 12500 13000 13500 14000 14500 15000 15500 16000 16500 17000 17500 18000 18500 19000 19500 20000
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18		Impact of the errors on profit
19		Impact of beginning of year (B/O/Y) error on profit		Profit is overstated by Profit is understated by no error, no impact			Profit is overstated by Profit is understated by no error, no impact			Profit is overstated by Profit is understated by no error, no impact
20		Impact of end of year (E/O/Y) error on profit		Profit is overstated by Profit is understated by no error, no impact			Profit is overstated by Profit is understated by no error, no impact			Profit is overstated by Profit is understated by no error, no impact
21		Combined B/O/Y & E/O/Y impact on profit		Profit is overstated by Profit is understated by No impact on Profit	0 500 1000 1500 2000 2500 3000 3500 4000 4500 5000 5500 6000 6500 7000 7500 8000 8500 9000 9500 10000 10500 11000 11500 12000 12500 13000 13500 14000 14500 15000 15500 16000 16500 17000 17500 18000 18500 19000 19500 20000		Profit is overstated by Profit is understated by No impact on Profit	0 500 1000 1500 2000 2500 3000 3500 4000 4500 5000 5500 6000 6500 7000 7500 8000 8500 9000 9500 10000 10500 11000 11500 12000 12500 13000 13500 14000 14500 15000 15500 16000 16500 17000 17500 18000 18500 19000 19500 20000		Profit is overstated by Profit is understated by No impact on Profit	0 500 1000 1500 2000 2500 3000 3500 4000 4500 5000 5500 6000 6500 7000 7500 8000 8500 9000 9500 10000 10500 11000 11500 12000 12500 13000 13500 14000 14500 15000 15500 16000 16500 17000 17500 18000 18500 19000 19500 20000
22		Corrected profit before tax			0 98000 102000 98000 100000 102000 98000 100000 102000			0 96500 96500 100000 100000 100000 103500 103500 103500			0 95500 102500 96500 100000 103500 97500 101000 104500
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25		Enter your solution to Question 2 in the yellow-shaded cells in Rows 28 to 34.
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28		Accounts Receivable Cost of Goods Sold Inventory Retained Earnings Sales Revenue						0 500 1000 1500 2000 2500 3000 3500 4000 4500 5000 5500 6000 6500 7000 7500 8000 8500 9000 9500 10000 10500 11000 11500 12000 12500 13000 13500 14000 14500 15000 15500 16000 16500 17000 17500 18000 18500 19000 19500 20000
29				Accounts Receivable Cost of Goods Sold Inventory Retained Earnings Sales Revenue							0 500 1000 1500 2000 2500 3000 3500 4000 4500 5000 5500 6000 6500 7000 7500 8000 8500 9000 9500 10000 10500 11000 11500 12000 12500 13000 13500 14000 14500 15000 15500 16000 16500 17000 17500 18000 18500 19000 19500 20000
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33		Accounts Receivable Cost of Goods Sold Inventory Retained Earnings Sales Revenue						0 500 1000 1500 2000 2500 3000 3500 4000 4500 5000 5500 6000 6500 7000 7500 8000 8500 9000 9500 10000 10500 11000 11500 12000 12500 13000 13500 14000 14500 15000 15500 16000 16500 17000 17500 18000 18500 19000 19500 20000
34				Accounts Receivable Cost of Goods Sold Inventory Retained Earnings Sales Revenue							0 500 1000 1500 2000 2500 3000 3500 4000 4500 5000 5500 6000 6500 7000 7500 8000 8500 9000 9500 10000 10500 11000 11500 12000 12500 13000 13500 14000 14500 15000 15500 16000 16500 17000 17500 18000 18500 19000 19500 20000
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37	© Brian Conheady		Prepared for educational purposes.
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