Occurence and Completeness — OpenTuition Forums

SSmartperson15y ago

Why it is so that tracing purchase invoice to PDB relates to Occurrence.
and
Agreeing Purchase day book to non current asset register is Completeness?

Basically i know what completeness and occurrence are but having problem with this.

kengarrettTutor15y ago#1

Well, some assertions can be tested simultaneously and are anyhow linked. If there is a new non-current asset bought, the flow of accounting information would be invoice to pdb to ledger. If that link is tested then you are gaining assurance that the acquisition occurred, that it has been completely posted (and also that the cost recorded in the non-current asset ledger is accurate and, after depreciation, is correctly valued.

SSmartperson15y ago#2

So for occurrence u have to check the flow to assure that it occurred.
Is that same for sales.
invoice to sales day book (occurrence)
sale day book to dispatch note (completeness)

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