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FA Lecture 2a

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FA – FIA FFA › FA Lecture 2a

  • This topic has 3 replies, 2 voices, and was last updated 1 week ago by John Moffat.
Viewing 4 posts - 1 through 4 (of 4 total)
  • Author
    Posts
  • June 23, 2022 at 2:08 pm #659215
    SwissCheese
    Participant
    • Topics: 1
    • Replies: 3
    • ☆

    Why Is it that when we partially pay a payable the profit does not change and instead the cash position decreases, but when we pay electricity the profit goes down? Are they not the same? Both an expense in running the business? or is it something to do with direct and indirect costs? Thanks in advance

    June 23, 2022 at 4:03 pm #659219
    John Moffat
    Keymaster
    • Topics: 56
    • Replies: 51585
    • ☆☆☆☆☆

    The expense against the profit is the expense for the period in question regardless of whether or not it was paid during the period (or whether it was still owing at the end of the period and therefore paid in the next period).

    If we use $100 worth of electricity this month, then it is an expense in this month even if it is not paid for until next month.

    January 25, 2023 at 7:27 pm #677365
    SwissCheese
    Participant
    • Topics: 1
    • Replies: 3
    • ☆

    That makes sense now. Thank You

    January 26, 2023 at 6:42 am #677372
    John Moffat
    Keymaster
    • Topics: 56
    • Replies: 51585
    • ☆☆☆☆☆

    You are welcome 🙂

  • Author
    Posts
Viewing 4 posts - 1 through 4 (of 4 total)
  • The topic ‘FA Lecture 2a’ is closed to new replies.

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