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CASH BUDGETING

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA MA – FIA FMA › CASH BUDGETING

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  • October 20, 2018 at 7:45 pm #479335
    kijane
    Member
    • Topics: 2
    • Replies: 0
    • ☆

    I seek explanation

    “Trade creditors will allow accounts to be settled in the month following that in which goods are supplied.”

    So for example i purchased goods on 2 october 2018 when will accounts be settled

    October 21, 2018 at 9:23 am #479350
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 54719
    • ☆☆☆☆☆

    Goods supplied in October will be paid for in November 🙂

    (The exact date of payment within the month is of no relevance in the exam, because you would only ever be budgeting on a monthly basis).

    I do suggest that you watch my free lectures on budgeting.

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