OpenTuition | ACCA | CIMA
Free ACCA and CIMA on line courses | Free ACCA, CIMA, FIA Notes, Lectures, Tests and Forums
Spread the word
If you have benefited from our materials, please spread the word so more students can benefit.
To help us keep materials up to do and add new content you can also donate
December 1, 2019 at 3:44 pm
For Question 6 – Presentation isn’t an assertion at all? Assertions are A – Accuracy C – Classification C – Completeness A – Allocation
C – Cut off O – Occurrence V – Valuation E – Existence R – Rights and Obligations
Kim Smith says
January 20, 2020 at 6:27 pm
If you download the notes you can search them – so in section 4 “The financial statement assertions” in Chapter 10 you will see that for the purpose of the acronym, “Classification AND PRESENTATION” are combined (as they are clearly related). You will see in the revisiting of the assertions in Chapter 16, however, that they are separate assertions in their own right. (Just as “rights” and “obligations” are separate assertions.
You must be logged in to post a comment.