- This topic has 2 replies, 2 voices, and was last updated 10 years ago by
.
Viewing 3 posts - 1 through 3 (of 3 total)
- Posts
Hello Sir,
Examiner’s answer relating to substantive procedures to confirm Hummingbird’s revenue:
Select a sample of despatch notes both pre and post year end; follow these through to sales invoices in the correct accounting period to ensure that cut-off has been correctly applied.
My question: In year end balances, Cut-off is not mentioned as one of the assertions, or is it that ‘revenue’ is a ‘transaction & event’ and not ‘year end balance’ ?
Revenue is a transaction or event (receivables are a year end balance).
Viewing 3 posts - 1 through 3 (of 3 total)
- You must be logged in to reply to this topic.