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Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA AA Exams › accrual substantive procedure
Recalculate the accrual to confirm accuracy.
tutor why was it not “Cast the accrual to confirm accuracy”?
Gas – 1,000
Electricity – 2,000
Rent – 4,000
Telephone 500
To cast is to sum/add up – i.e. 7,500.
To recalculate is to look at how each of these amounts has been derived.
E.g. y/e 31 Dec. Gas bill received in April for the 6 months to March is $2,000 – therefore accrual is 3/6 x $2,000 = $1,000