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petty cash

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FA – FIA FFA › petty cash

  • This topic has 3 replies, 3 voices, and was last updated 5 years ago by John Moffat.
Viewing 4 posts - 1 through 4 (of 4 total)
  • Author
    Posts
  • September 2, 2020 at 11:40 am #583111
    mkfatima
    Member
    • Topics: 19
    • Replies: 3
    • ☆

    All expenditure out of the petty cash must be properly authorized, why this statement is incorrect?

    September 2, 2020 at 3:46 pm #583141
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 54752
    • ☆☆☆☆☆

    I think that you are referring to Question 2 of the specimen exam.

    The question asks which of the following explains the imprest system of petty cash.

    Although the statement is true (expenditure should be properly authorised) it is not explaining the imprest system.

    September 3, 2020 at 4:31 pm #583284
    lokeshdh00
    Participant
    • Topics: 133
    • Replies: 130
    • ☆☆☆

    Sir can you please explain, what is imprist system.

    September 4, 2020 at 9:24 am #583356
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 54752
    • ☆☆☆☆☆

    I explain it in my free lectures on Chapter 10 of our free lecture notes.

    The lectures are a complete free course for Paper FA and cover everything needed to be able to pass the exam well.

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