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underlying assumption

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FR Exams › underlying assumption

  • This topic has 3 replies, 2 voices, and was last updated 3 years ago by Avatarxyzc.
Viewing 4 posts - 1 through 4 (of 4 total)
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  • December 15, 2022 at 12:29 pm #674669
    Avatarxyzc
    Participant
    • Topics: 413
    • Replies: 175
    • ☆☆☆☆

    The Conceptual Framework identifies which of the following as an underlying assumption in preparing financial statements.
    Going concern
    materiality
    Substance over form
    Accruals
    Why the correct answer is not substance over form. Why the correct answer is correct

    December 30, 2022 at 9:13 am #675213
    AvatarP2-D2
    Keymaster
    • Topics: 4
    • Replies: 7232
    • ☆☆☆☆☆

    Because substance over form is not one of the underlying assumptions. What do you believe the underlying assumption to be?

    January 28, 2023 at 8:26 am #677492
    Avatarxyzc
    Participant
    • Topics: 413
    • Replies: 175
    • ☆☆☆☆

    Are qualitative characteristics such as substance over form not underlying assumptions

    January 28, 2023 at 8:28 am #677493
    Avatarxyzc
    Participant
    • Topics: 413
    • Replies: 175
    • ☆☆☆☆

    What are the underlying assumptions

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