• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
Free ACCA & CIMA online courses from OpenTuition

Free ACCA & CIMA online courses from OpenTuition

Free Notes, Lectures, Tests and Forums for ACCA and CIMA exams

  • ACCA
  • CIMA
  • FIA
  • OBU
  • Books
  • Forums
  • Search
  • Register
  • Login
  • ACCA Forums
  • Ask ACCA Tutor
  • CIMA Forums
  • Ask CIMA Tutor
  • FIA
  • OBU
  • Buy/Sell Books
  • All Forums
  • Latest Topics

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 >>

inspecting cash book and bank statement for…?

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA AA Exams › inspecting cash book and bank statement for…?

  • This topic has 1 reply, 2 voices, and was last updated 1 year ago by Kim Smith.
Viewing 2 posts - 1 through 2 (of 2 total)
  • Author
    Posts
  • August 14, 2021 at 5:24 am #631513
    aarti2407
    Member
    • Topics: 36
    • Replies: 8
    • ☆

    dear tutor, I am super confused at the moment with regards to the real rationale for “inspecting cash book and bank statement”? Is it to confirm Existence or Completeness assertion? or both? or completeness in some while existence in rest?

    sometimes its written that

    “inspect cash book and bank statement to confirm completeness of payroll expenses/director remuneration” while the other times it is written that

    “Inspect the cash book for loan repayments made: existence( accuracy & valuation too).”

    August 14, 2021 at 8:23 am #631524
    Kim Smith
    Keymaster
    • Topics: 100
    • Replies: 6794
    • ☆☆☆☆☆

    I will answer your two posts of today but you MUST comply with the Forum Rules and with the emails from John Moffat yesterday.

    We have discussed at length already on previous posts after-date cash book payments providing evidence of the completeness of y/e liabilities – which would include liabilities to employees including directors and liabilities to providers of finance – such as a bank..

    Completeness is the main assertion here.

    If you have a loan at the beginning of the year, inspecting repayments during the year will provide evidence of existence of the loan at the y/e and its amount (accuaracy and valuation – since allocation is not relevant),

  • Author
    Posts
Viewing 2 posts - 1 through 2 (of 2 total)
  • You must be logged in to reply to this topic.
Log In

Primary Sidebar

ACCA News:

 

ACCA My Exam Performance for non-variant Applied Skills exams is available NOW

NEW! Download the ACCA Pass Guide

FREE Verifiable CPD for ACCA Members

ACCA mock exams and debrief videos

ACCA Options:  “Read the Mind of the Marker” articles

Subscribe to ACCA’s Student Accountant Direct

Donate

If you have benefited from OpenTuition please donate.

ACCA CBE 2023 Exams

Instant Poll * How was your exam, and what was the result?

BT CBE exam was.. | MA CBE exam was..
FA CBE exam was.. | LW CBE exam was..

Specially for OpenTuition students

20% off BPP Books

Get BPP Discount Code

Latest comments

  • Amalsudheesh on FA Chapter 6 Questions Depreciation
  • John Moffat on FA Chapter 6 Questions Depreciation
  • John Moffat on PM Chapter 7 Questions Pricing
  • Amalsudheesh on FA Chapter 6 Questions Depreciation
  • roshpatel on PM Chapter 7 Questions Pricing

Copyright © 2023 · Support · Contact · Advertising · OpenLicense · About · Sitemap · Comments · Log in


We use cookies to show you relevant advertising, find out more: Privacy Policy · Cookie Policy