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Hello Sir. Could you clarify whether Allowance for receivables at start appears in SOFP in Section B? In my BPP revision kit, it says ON SOFP but in the ACCA specimen paper, it says that it is not used to calculate SOFP figures before year-end adjustments. Thank you very much.
Only the closing allowance appears on the SOFP as a reduction in the closing receivables.
The opening allowance certainly does not appear, and I cannot believe that the BPP Revision Kit says that.Have you watched my free lectures on this? The lectures are a complete free course for Paper FA and cover everything needed to be able to pass the exam well.
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