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‘not accounted for’ questions

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FA – FIA FFA › ‘not accounted for’ questions

  • This topic has 1 reply, 2 voices, and was last updated 1 year ago by John Moffat.
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  • April 2, 2021 at 3:51 pm #615768
    Ocean2k20
    • Topics: 10
    • Replies: 0
    • ☆

    I’ve seen a couple of questions where they mention something is not accounted for.
    If a question says ‘prepayment paid in advance is not accounted for’ – is this saying the fact that the invoice is a prepayment is not accounted for, or the whole invoice was ignored?

    Thanks!

    April 2, 2021 at 4:15 pm #615775
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 49606
    • ☆☆☆☆☆

    It means that although the invoice will have been entered, no entry will have been made to account for the prepayment.

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