- 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 AA Exams › inventory cutoff
Hi sir,
Regarding inventory cutoff , usually at what point is the sale or purchase usually recorded in the books of accounts ? Its saying in cutoff purchase that if GRN is present in year end it means we have received the item ryt ? but is it at that stage its recorded in books of accounts ?
This should help:
https://opentuition.com/topic/cut-off-4/
If it’s in inventory it has to be in purchases. If it’s in purchases it also has to be paid for or be shown as a liability.