Revenue Understated

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  • #1496085
    Lianetleal
    Participant

    To all:

    I just discovered that the revenue for last year was understated due to some service invoices not accounted for. The total understatement is about 3K and normally the company has 20K net income form operations. I was wondering if the amount was material enough to restate the financials.
    How would you proceed?

    Thank you,

    Lianet Leal
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