Auditing Kingcos

Essay specific features

 

Issue:

Business

 

Written by:

Mildred P

 

Date added:

August 17, 2016

 

Level:

 

Grade:

B

 

No of pages / words:

4 / 1034

 

Was viewed:

6508 times

 

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Essay content:

A red flag came up when analyzing the merchandise inventories to total assets ratios which were 63.8 in 1984 to 37 in 1987. Short-term investments had a zero balance until 1986 when it went to 21.1, then up again to 41.4 in 1987. Short-term debt increased from .3 in 1984 to 16.8 in 1987. Accrued expenses went from 16...
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Accrued expenses went from 16.6 in 1984 to 1.9 in 1987. Cash and restricted cash were 44.8 in 1985, but only 3.2 in 1987. Crazy Eddie's management was trying to rapidly expand the company with these huge investments but they did not have a lot of cash just in case something unforeseen happened. For instance, they did not plan for market saturation and an explosion of competition which led to their inventory being undersold and obsolete...
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