Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA AA Exams › Sampling population!
- This topic has 4 replies, 2 voices, and was last updated 8 years ago by Binh.
- AuthorPosts
- May 26, 2015 at 4:31 am #249025
Dear Mr Gromit,
In some questions in the exams which we need to select a sample, I see that sometimes it is not clear where we select a sample. For example, in model answer provided by ACCA, they usually say that: “Select a representative sample of goods in inventory at the year end” or “Select a sample of year end goods…” (extracted from June 2010 answer), or “For a sample of the new surgical equipment additions”. So, the goods or the additions here are showed on which documents (the documents we need to look at)?
May 26, 2015 at 7:12 am #249033The items in these examples will be in the FS. The year end goods make up the inventory in the SOFP and will be supported by a list showing what these are. The list will contain the population of items in inventory.
Form the additions of NCA, these are also shown on the FS in a note. This figure must also be supported by a list of additions that will provide the populations.
Similarly, tests on purchases might require you to look at a sample of pur bases orders. Copies of these should be in a file somewhere and the file represents the population.
May 27, 2015 at 3:38 am #249386Yeah! It is now clearer. So, firstly we should obtain list of items which make the balance of year end or the additions in year, then agree these lists to financial statement, then if they are agreed with each other we can use the lists as the populations to choose the sample from?
May 27, 2015 at 6:27 am #249404Correct.
May 27, 2015 at 9:08 am #249479Yeah! Thank you so much!
- AuthorPosts
- You must be logged in to reply to this topic.