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BPP revision kit Q.57 Morada

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA AFM Exams › BPP revision kit Q.57 Morada

  • This topic has 3 replies, 2 voices, and was last updated 2 years ago by John Moffat.
Viewing 4 posts - 1 through 4 (of 4 total)
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  • August 24, 2022 at 12:18 pm #664145
    Ron123
    Participant
    • Topics: 72
    • Replies: 93
    • ☆☆

    Hi, for sample answer, under Morada Co Extracts From The Forecast Financial Position For The Coming Year, I saw that the value of the current assets is the balancing figure. Please may I know the rationale of placing the balancing figure into the current assets? Is it because current assets consist of liquid assets such as cash, so it is easier to move the current assets up and down in the balance sheet?

    Thank you.

    August 25, 2022 at 9:09 am #664220
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 54699
    • ☆☆☆☆☆

    It is because we know what all the other figures will have to be, and so for the SOFP to balance the current assets must be the missing figure.

    August 25, 2022 at 4:06 pm #664251
    Ron123
    Participant
    • Topics: 72
    • Replies: 93
    • ☆☆

    Oh.. is this the rule in any balance sheet calculation? Thanks..

    August 26, 2022 at 7:29 am #664292
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 54699
    • ☆☆☆☆☆

    Effectively yes 🙂

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Viewing 4 posts - 1 through 4 (of 4 total)
  • The topic ‘BPP revision kit Q.57 Morada’ is closed to new replies.

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