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receivables valuation

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA AA Exams › receivables valuation

  • This topic has 1 reply, 2 voices, and was last updated 11 months ago by Kim Smith.
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  • August 7, 2021 at 10:32 am #630661
    aarti2407
    • Topics: 36
    • Replies: 8
    • ☆

    dear tutor sometimes examiner uses “review extended post yr end cash receipts” while the other times the examiner uses words such as “review after date cash receipts” when talking about Trade receivables valuation. can you explain why such a difference?

    August 7, 2021 at 11:45 am #630675
    Kim Smith
    Keymaster
    • Topics: 89
    • Replies: 6103
    • ☆☆☆☆☆

    “extended” simply suggests [to me] “for longer than you might do otherwise” – which then makes me think you are describing and auditor’s response to an identified risk. But you’re not going to lose any marks for omitting the word “extended”. The key words are “after date”/”post-year end” and “cash receipts”.

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