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Hello Kim hope you’re doing well
I wanted to ask in section A if its a loss question do we still calculate materiality on it and how do we describe it ? are there any past paper questions with a net loss in income statement in section A
Welcome to my forum!
I have no recollection of every seeing a net loss scenario. In this case, or if the reporting entity has low profitability, I suggest a % of total revenue or assets would be more appropriate.
I actually got a loss question in my first sitting of AAA exam and i had never seen a question like that in the kit or past papers. ended up failing with a 47
Thank you so much for the reply
Thank you for the information – of course I only see what is published. The thing to remember if you ever see something that you haven’t come across before having worked through a kit is that you are “not alone” – and there will be lots of other candidates who are similarly bemused. Sometimes you have to think “outside the box” – if something doesn’t make sense by all means say why and suggest an alternative.
thank you
i have one more doubthow do we differentiate between a component and an operating segment ?
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