Skip to content
Sign inRegister

Ask the Tutor ACCA AA

Substantive procedure - trade payables

MMarina9y ago
Dear Tutor, By testing the trade payables, would one acceptable procedure be to look if there are any debit balances in the payables ledger and discuss them with management. If yes, would we in this case confirm the assertion: rights and obligations?
kengarrettkengarrettTutor9y ago#1
If material, yes. These balances also need to be reclassified as assets. Usually they are small.
MMarina9y ago#2
Thank you.
Sign into reply to this topic.