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NCA Assertions

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA AA Exams › NCA Assertions

  • This topic has 5 replies, 2 voices, and was last updated 5 years ago by Kim Smith.
Viewing 6 posts - 1 through 6 (of 6 total)
  • Author
    Posts
  • May 31, 2020 at 5:10 pm #572449
    iza1
    Participant
    • Topics: 115
    • Replies: 112
    • ☆☆☆

    A. For a sample of assets selected by physical inspection, agree that they are listed on the non-current
    assets register
    B. For a sample of non-current assets listed on the non-current assets register, physically inspect the
    asset

    I dont understand why A is a procedure for existence ?
    Then what about B ?

    May 31, 2020 at 6:19 pm #572453
    Kim Smith
    Keymaster
    • Topics: 135
    • Replies: 8355
    • ☆☆☆☆☆

    Can you please tell me where you are seeing these options?

    May 31, 2020 at 6:55 pm #572456
    Kim Smith
    Keymaster
    • Topics: 135
    • Replies: 8355
    • ☆☆☆☆☆

    To physically inspect/see/touch/feel an asset provides irrefutable evidence of existence. Therefore to test from “book (i.e. recording) to physical” is always the test for existence and from “physical to book” the test for completeness (of recording).

    So A is test for completeness and B the test for existence.

    June 1, 2020 at 5:22 am #572468
    iza1
    Participant
    • Topics: 115
    • Replies: 112
    • ☆☆☆

    I saw this in BPP kit Q121 Expert Co. and the answer says vice versa. So I am a little confused

    June 1, 2020 at 5:26 am #572469
    iza1
    Participant
    • Topics: 115
    • Replies: 112
    • ☆☆☆

    i understood it now thank you

    June 1, 2020 at 7:23 am #572472
    Kim Smith
    Keymaster
    • Topics: 135
    • Replies: 8355
    • ☆☆☆☆☆

    In my old version it is Q119 an it asks which is the test for completeness – so perhaps the Q has been changed but not the answers – hence the error.

  • Author
    Posts
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