ASSERTIONs

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December 2, 2018 at 1:57 pm #486783
cindy1228
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ASSERTIONS are acronym ACCACOVER, right? There is a bit of confusion about assertions for end-balances and the other one? Can I ask for more clarifications in identifying which assertion is applicable to each?
December 2, 2018 at 4:04 pm #486795
Kim Smith
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They are listed separately for classes of transactions and balances in the relevant chapter in the notes. The thing to understand to remember which assertions relate to which is that the former occur throughout the year whereas the latter exist at the year end.
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