ACCA FR Chapter 3 Presentation of Financial Statements (IAS 1) Questions
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Can you please advise on where the interest paid and interest received should be recorded? Should they be recorded after PBIT in the P&L statement?
they should be recorded after PBIT in P/L statement.
Is it possible to get practice questions where we actually prepare financial statements
Yes, you can find them in the revision kits that you are recommended to purchase.
Ok
sir, can u please explain the answer of Q;1?
Good day sir,
The first option in question one stated that the liability occured during the accounting period,so I thought it would be classified as a current liability.
But from the answer it is stating otherwise, please kindly explain further sir..thank you sir
The liability has arised during the current accounting period just ended. It is not stated that it is current liability or non-current liability. The question asks “not necessarilty” lead to rise in current liability.