Accounting 9706/33 Oct Nov 2023

1. Calculation of carrying values, depreciation, and preparation of schedules for non-current assets in financial statements.

2. Accounting for subscriptions, life memberships, and profit from sales in club income and expenditure accounts.

3. Impact of inventory reduction and increased life memberships on club financial performance, bank overdrafts, and deficits.

4. Evaluation of auditing needs for financial statements due to potential mismanagement or fraud in club operations.

5. Measurement and implications of the working capital cycle in retail versus manufacturing businesses.

6. Reduction strategies for working capital cycle and net working assets to revenue ratio, assessing financial and operational benefits.