- This topic has 2 replies, 2 voices, and was last updated 8 years ago by
.
Viewing 3 posts - 1 through 3 (of 3 total)
- Posts
Sir , What does this mean ?
– inspecting after date of receipts from receivables
– inspect the cash book payment/ receipts that were not accrued for at the year endThanks in advance
1 If an amount is received 25/1/2018 for a receivable on the SOFP as at 31/12/2017, it is,evidence that the receivable existed and was properly valued at 31/12/2017
2 If an amount is paid on, say, 10/1/2017 we have to decide whether it relates to an expense for 2017 (in which case it should be accrued on the SOFP of 31/12/2017) or whether it is a 2018 expense.
Viewing 3 posts - 1 through 3 (of 3 total)
- The topic ‘Completion and review’ is closed to new replies.