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Accounting Treatment

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA AAA Exams › Accounting Treatment

  • This topic has 3 replies, 3 voices, and was last updated 10 years ago by AvatarMikeLittle.
Viewing 4 posts - 1 through 4 (of 4 total)
  • Author
    Posts
  • November 26, 2015 at 2:59 pm #285507
    Avatarwatsonn00
    Participant
    • Topics: 2
    • Replies: 1
    • ☆

    Hi Mike,

    Would like to ask which accounting treatment does:

    1) Cutter
    2) Hacksaw
    3) Tape

    goes to?

    I’ve been thinking that cutter & tape should go to stationery account and hacksaw goes to repair and maintenance? Is that correct? If not, which account?

    Thanks.

    November 27, 2015 at 10:33 am #285673
    AvatarMikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23368
    • ☆☆☆☆☆

    Depends on the type of cutter but I’d be inclined to put cutter and hacksaw into tools and equipment and tape into consumables

    But, of course, if the client is Shell UK, then I would simply expense them as being (probably) totally immaterial to the fair presentation of the financial statements

    November 28, 2015 at 5:40 pm #285990
    Avatarshibly99
    Participant
    • Topics: 2
    • Replies: 1
    • ☆

    Thanks

    November 29, 2015 at 10:41 pm #286249
    AvatarMikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23368
    • ☆☆☆☆☆

    You’re welcome

  • Author
    Posts
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