Doing Business

Doing Business in Mexico 2015

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233 Doing Business in Mexico 2015 III Accountant's considerations Review of current situation ___ Past trading results ___ Accounting policies, compliance with standards and the law and consistency of application ___ Financial statements: ___ Balance sheet ___ Assets: ___ Accounts receivable ___ Inventory ___ Land and building(s) ___ Machinery and equipment ___ Intangible assets ___ Goodwill ___ Liabilities—short and long-term ___ Equity ___ Income statement ___ Gross profit ratio ___ Sales ___ Other income ___ Expenses ___ Gross profit ___ Profit and cash-flow forecasts and bases of assumptions ___ Statement of changes in financial position ___ Cash flow statement ___ Pension arrangements: ___ Unfunded liabilities ___ Purchase commitments ___ Future prospects: ___ Cash flow projections ___ Financing required Taxation ___ All returns filed ___ Unpaid assessments ___ Adequacy of current provision for income taxes ___ Possible additional taxes for prior years ___ Statute of limitations ___ Characteristics of liabilities ___ Rulings requests in progress ___ Particulars of important matters in dispute ___ Court cases ___ Comments on adequacy of overall provision; estimated deficiency or surplus ___ Details of losses and allowances available to carry forward ___ Extent to which tax planning schemes have been used in the past and assessment of any resulting potential exposure ___ Value-added tax due or overpaid ___ Asset tax carryback and carryovers ___ Flat tax (IETU) due or credited XIV

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