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Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA AA Exams › reviewing the list of additions
Review the list of additions and confirm that they relate to capital expenditure items rather than repairs and maintenance.
maam could you explain how the person reviewing will discern if a certain inclusion is of capital nature or revenue expenditure nature?
If in doubt the auditor would refer to supporting invoice but for example:
Car – $18,000
Road tax – $500
Extended warranty – $1,500
You should be able to distinguish capital from revenue expenditure (assumed knowledge of FA/F3).