Substantive procedure – trade payablesForums › Ask ACCA Tutor Forums › Ask the Tutor ACCA AA Exams › Substantive procedure – trade payablesThis topic has 2 replies, 2 voices, and was last updated 7 years ago by boma77.Viewing 3 posts - 1 through 3 (of 3 total) AuthorPosts November 30, 2016 at 7:04 pm #352677 boma77MemberTopics: 70Replies: 97☆☆Dear Tutor,By testing the trade payables, would one acceptable procedure be to look if there are any debit balances in the payables ledger and discuss them with management. If yes, would we in this case confirm the assertion: rights and obligations? December 1, 2016 at 8:00 am #352792 Ken GarrettKeymasterTopics: 10Replies: 10425☆☆☆☆☆If material, yes. These balances also need to be reclassified as assets.Usually they are small. December 1, 2016 at 8:03 am #352794 boma77MemberTopics: 70Replies: 97☆☆Thank you.AuthorPostsViewing 3 posts - 1 through 3 (of 3 total)You must be logged in to reply to this topic.Log In Username: Password: Keep me signed in Log In