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Hello, please does anyone have tips on remembering what goes into which statement? It will be very useful to know.
Not sure if the following relates to what you want to know-
The statement of financial position is a snapshot of an entity at a particular time. The statement of profit and loss shows movement over a particular time. This is also the case with statement of cash flows. If you want more details and more pertinent details please ask.
Yes please. are you also writing FA exam @mrjonbain?
richieakins15, I am not doing the above exam, I passed it some time ago but will try to help. Sorry for delay in replying. I will try to answer in parts if that’s ok. Doing this way should be easier for me to manage since it’s a reasonably large topic and you can ask for more information about the relevant parts. Starting with the statement of financial position. This gives a snapshot of an entity’s financial position at a particular point in time. This gives particulars of the assets, liabilities and equity at a particular time and date given on statement. Usually at end of particular reporting period which often corresponds with entity’s financial year but can be drawn up at other times.
Often assets are listed from top to bottom in terms of increasing liquidity. Liquidity refers to how quickly assets can be turned into cash.sorry, on the consolidated statement of financial position, why is non-controlling interest under equity?
Are you a student? Your profile says moderator. And I wrote my FMA last December and I wanna know, how do I see my result? should it be my e-mail or on my acca profile.
In terms of non-controlling interest, it is under equity because it is a form of equity. Non-controlling interest is part of equity not held by controlling entity. If you think of the accounting equation
Assets = capital (also sometimes called owners equity) + liabilities. Hope this helps.very much, thank you. So clear now. Are you a student? Your profile says moderator. And I wrote my FMA last December and I wanna know, how do I see my result? should it be my e-mail or on my acca profile
The moderator merely reflects my position on this site. In simple words, I have a few more technical functions than student ranked user but fewer than tutors or controllers of site.
In terms of exam results you can usually receive results by email or text if you sign up to receive them before a particular date before exam results are issued. You should be able to find your exam results on myacca. For future results-
https://www.accaglobal.com/gb/en/student/exam-entry-and-administration/exam-results.html
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