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Financial Statement

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FA – FIA FFA › Financial Statement

  • This topic has 3 replies, 2 voices, and was last updated 3 years ago by John Moffat.
Viewing 4 posts - 1 through 4 (of 4 total)
  • Author
    Posts
  • November 9, 2021 at 5:54 am #640252
    James124
    Participant
    • Topics: 166
    • Replies: 138
    • ☆☆☆

    Question 1
    Short term investment is shown in which assets in SOFP’s current asset or non-current?

    Question 2
    “Cash and bank balances” are shown in SOFP so they include all cash equivalents like petty cash and bonds?

    November 9, 2021 at 3:15 pm #640290
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 54724
    • ☆☆☆☆☆

    1. If they are short-term then they are current assets.

    2 Cash and bank balances are petty cash and balances at the bank.
    Any short term investments are shown separately as current assets (and bonds are very unlikely to be short-term).

    The term cash equivalents is relevant for Statements of Cash Flows and cash + bank balances + short term investments. In calculation questions for Paper FA it will just be cash and bank balances.

    November 9, 2021 at 3:36 pm #640302
    James124
    Participant
    • Topics: 166
    • Replies: 138
    • ☆☆☆

    Thank you tutor

    November 10, 2021 at 7:18 am #640334
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 54724
    • ☆☆☆☆☆

    You are welcome.

  • Author
    Posts
Viewing 4 posts - 1 through 4 (of 4 total)
  • The topic ‘Financial Statement’ is closed to new replies.

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