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FA BPP Revision Kit 2020-2021, Preparing Basic Financial Statements, 19.3 ,Pg 90

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FA – FIA FFA › FA BPP Revision Kit 2020-2021, Preparing Basic Financial Statements, 19.3 ,Pg 90

  • This topic has 3 replies, 2 voices, and was last updated 4 years ago by John Moffat.
Viewing 4 posts - 1 through 4 (of 4 total)
  • Author
    Posts
  • January 27, 2021 at 6:36 am #608180
    Asif110
    Participant
    • Topics: 70
    • Replies: 125
    • ☆☆

    Greetings sir,

    19.3

    Task 1 – why is the Inventory at 1 Nov 2015 not considered part of the Profit or Loss Account ? Doesnt the SOPL contain COS which should contain the Opening Inventory Balance ? I see Purchases included in P/L which is also part of the COS.

    January 27, 2021 at 10:08 am #608221
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 54808
    • ☆☆☆☆☆

    The answer is wrong – the opening inventory does appear in the SOPL 🙂

    January 27, 2021 at 6:08 pm #608269
    Asif110
    Participant
    • Topics: 70
    • Replies: 125
    • ☆☆

    Nice, I win over BPP 🙂

    January 28, 2021 at 9:15 am #608319
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 54808
    • ☆☆☆☆☆

    🙂

  • Author
    Posts
Viewing 4 posts - 1 through 4 (of 4 total)
  • The topic ‘FA BPP Revision Kit 2020-2021, Preparing Basic Financial Statements, 19.3 ,Pg 90’ is closed to new replies.

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