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Schedule of non-current asset and non-current assets register

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA AA Exams › Schedule of non-current asset and non-current assets register

  • This topic has 1 reply, 2 voices, and was last updated 1 year ago by Kim Smith.
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  • October 26, 2023 at 10:50 am #694016
    quytuan
    Participant
    • Topics: 116
    • Replies: 46
    • ☆☆

    What is the differences between schedule of non-current asset and non-current assets register?. I find them quite similar and cannot make the differences

    October 26, 2023 at 12:35 pm #694020
    Kim Smith
    Keymaster
    • Topics: 135
    • Replies: 8310
    • ☆☆☆☆☆

    Hopefully you are clear on what the non-current asset register is https://opentuition.com/topic/non-current-asset-register

    You would have to consider the context to know what is meant by “schedule” of non-current assets. This could be a client’s working paper which summarises the totals of costs and accumulated depreciation by class of asset for agreeing to the account balances in the general ledger.
    Or it might take the form of a reconciliation of opening to closing carrying amounts (which is a disclosure requirement for the notes per IAS 16).

    You would expect these schedules to be included in the audit working papers – e.g. see s.1.4
    in Chapter 22 of the Study Hub for an illustration https://www.accaglobal.com/uk/en/student/your-study-options/studyhub.html

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