Free ACCA & CIMA online courses from OpenTuition

Free Notes, Lectures, Tests and Forums for ACCA and CIMA exams

20% off ACCA & CIMA Books

OpenTuition recommends the new interactive BPP books for December 2025 exams.
Get your discount code >>

Assertions

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA AA Exams › Assertions

Viewing 2 posts - 1 through 2 (of 2 total)
  • Author
    Posts
  • October 29, 2019 at 1:35 pm #551145
    ikmughal28
    Participant
    • Topics: 66
    • Replies: 62
    • ☆☆

    Hi

    need to ask that can we use “cut-off” assertion for both trade payables and receivables or is it just for P&L items??

    Thanks

    October 29, 2019 at 2:40 pm #551148
    Kim Smith
    Keymaster
    • Topics: 136
    • Replies: 8379
    • ☆☆☆☆☆

    Cut-off relates to transactions (recorded in the correct accounting period) but this then contributes to existence/completeness assertions about account balances e.g. if a sale post-y/e is recorded pre-y/e the receivable did not exist at the reporting date.

  • Author
    Posts
Viewing 2 posts - 1 through 2 (of 2 total)
  • You must be logged in to reply to this topic.