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Presentation and disclosure – no examples

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA AA Exams › Presentation and disclosure – no examples

  • This topic has 1 reply, 2 voices, and was last updated 10 years ago by Ken Garrett.
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  • September 5, 2015 at 4:12 pm #269963
    Yazan
    Member
    • Topics: 32
    • Replies: 31
    • ☆☆

    Hi Sir,

    Thanks for your help so far.

    In terms of substantive procedures, I have model answers for two of the different types of misstatements (Transactions and Account balance) but I am struggling to find examples for Presentation and Disclosure.

    How does Occurrence, Rights and obligation and Accuracy and Valuation show up in Presentation and Disclosure as substantive procedures. I cannot find examples in my revision kit nor online, unlike the other two types.

    NB:I assume Completeness procedures would be ensuring is just that it is recorded in the FS) and Classification and understandability is that ,say, dislosures makes sense to the user.

    Could you refer me to anything or could you explain this to me please?

    Kind regards,
    Y

    September 5, 2015 at 4:20 pm #269965
    Ken Garrett
    Keymaster
    • Topics: 10
    • Replies: 10605
    • ☆☆☆☆☆

    Well, for example, in the FS you have to disclose movements on non-current assets and depreciation. These amounts would inevitably be checked as part of the audit of balances and transactions.

    Another example, is that you would have to properly present whether something is a current liability or a long-term liability. As part of the audit work you might look at loan agreement to see whether the repayment is due in less than or after 12 months.

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