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Ask the Tutor ACCA AA

Misstatements

YWYeo Wen Xin9y ago
Hi Sir, Misstatements involve monetary and non-monetary figures. How non-monetary figures effect the misstatement? Advance thanks to you.
gromitgromitTutor9y ago#1
For example, not disclosing information that you should do, misclassifying a liability as long term rather than short term or not complying with financial reporting standards are all non-monetary misstatements.
YWYeo Wen Xin9y ago#2
Oh I got it! Thanks a lot Mr.Ken!
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