[henry193]

Thanks. I have learned the list of them, and split between both types TE – COPACC and AB – COPERC for my memory. My struggle is really with knowing which one does what and mixing them up ( like above lol), although it is probably due to lack of practice. I will get working on that now though, thanks so much for link.

[henry193]

Thanks so much for the reply. Sorry it was the 2022 edition.

I understand, just need to get that logic in my head that valuation concerns more the method used and how it’s valued, not as much the final value figure? Valuation does not really encapsulate the overall final figure? I think I have understood you correctly there, so thanks if so 🙂

Can’t seem to get the Assertions clarified in my head!

[henry193]

Thanks for the reply. I understand, but it’s a headscratcher for me. Appreciate your help.

[henry193]

Hi John,
I know this is 5 years later, but I’m also struggling with this.
In reference to your point 2, you think the $1000 Sundry Payables might be a typo, but on this post
https://opentuition.com/topic/sundry-receivablespayables/
You have mentioned that it should not be considered a Receivable as the funds are not owed to us. You say it should be a Payable.

I’m really struggling with this concept, as we don’t really owe the funds to anyone either ( no one provided us a service or a good), though I understand they the $1000 is a liability. Have you any clarification on whether it is definitely a Payable or Receivable – I want to try to learn which, but struggling with the concept.

Thanks in Advance,
Henry

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