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Incomplete records


Sometimes a business does not keep (or have) proper records. Most countries require a business to keep accounting records by law, so in my experience the only time a business does not have records is when there is something like a fire, or records are lost or destroyed. When this happens, there are several techniques which can be used to help “build” a set of accounts. Here is a nice article from CPA Ireland which details some of these.

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About martinjquinn

I am an accounting academic, accountant and author based near Dublin, Ireland.

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