UK Why is the COGS increased in P and L?


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I’m a book keeper for a small company and our draft accounts have been returned from our accountants and the opening stock, purchases and closing stock are all higher than that in our tb. They net off correctly though. What is this called and why is it done? As when I’ve asked the accountants and I’m none the wiser!Any answers would be appreciated.
 
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kirby

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The accountants had to start with your figures then added adjustments. Ask them for their adjustments or their workpapers that support their draft accounts.
 
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It is important that you ask the accountants for the adjusting journals and a copy of the opening balances for the new year. After you have posted the journals on to your system, check that the opening balances on your system reconciles to the balances supplied by the accountant.
 
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As kirby stated, you should have received adjusting entries and workpapers showing the adjustments made and the rationale for each. I'm intrigued that you've said you "asked the accountants and are none the wiser." What sort of answer would they be giving - other than providing you with the above information?
 

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