- This topic has 1 reply, 2 voices, and was last updated 7 years ago by .
Viewing 2 posts - 1 through 2 (of 2 total)
Viewing 2 posts - 1 through 2 (of 2 total)
- You must be logged in to reply to this topic.
Congratulations to Jamil from Pakistan and Jeeva from Malaysia - Global Prize winners!
see all ACCA December 2022 Genius Hunt Competition winners >>
Specially for OpenTuition students: 20% off BPP Books for ACCA & CIMA exams – Get your BPP Discount Code >>
Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA BT – FIA FBT › 'Fair and View Override'
What is Fair and View Override?
Is it the Profit or loss account or SOFPat the end of the accounting period? Or
A fair and clean View Of the company’s Affair at the end of the period?
The FS as a whole should show a true and fair view: SOFP, Statement of Profit or Loss, Cash Flow Statement, Notes and movement in equity.
I think you mean ‘true and fair override’ not ‘fair and view override’.
NOrmally, FS have to comply with accounting standards as these imply T&F. However, sometimes it might be possible to argue that a departure from the accounting standards is necessary for a T&F view. Ie the standards are overridden.