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Sagittarii Co-S/D20- Vega Vista’s income

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA AA Exams › Sagittarii Co-S/D20- Vega Vista’s income

  • This topic has 1 reply, 2 voices, and was last updated 1 year ago by Kim Smith.
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  • August 30, 2021 at 5:35 am #633460
    Noah098
    Member
    • Topics: 935
    • Replies: 352
    • ☆☆☆☆☆

    Discuss with management their procedures for ensuring advance ticket sales for the September 20X5 festival are excluded from income and instead recognised as deferred income in the statement of financial position.

    maam how is this a SP? its not directly checking the specific amount. so is it like a dual purpose test maam?

    August 30, 2021 at 8:39 am #633485
    Kim Smith
    Keymaster
    • Topics: 100
    • Replies: 6789
    • ☆☆☆☆☆

    You have posted similar, I’m sure, where I say it cannot be TOC (it gives no “yes/no” answer to whether a specified control has operated effectively) – but I agree it is not a substantive procedure. I would say it is a risk assessment procedure/obtaining an understanding that might introduce an answer.

    A bit like when an answer starts “obtain a schedule ….” it gives you something to work with – but per se you don’t have any audit evidence until you’ve done something with it.

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