Simple accounting Questions

Jul 08, 2007 1 Replies

I received an audit adjustment from PWC, it states that:-



AA#1



Fixed Assets - CIP................XX ~~~~Other Receivable.....................XX Being overstated of the fixed assets - CIP



Are they correct? I thought they should write "Being understated of the fixed assets - CIP", right??



Thz...


I received an audit adjustment from PWC, it states that:-

AA#1

Fixed Assets - CIP................XX ~~~~Other Receivable.....................XX Being overstated of the fixed assets - CIP

Are they correct? I thought they should write "Being understated of the fixed assets - CIP", right??

Thz...

the entry indicates the fixed assets were understated

.

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