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Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA AA Exams › Substantive Procedure 'Valuation'
Substantive procedure: Review the ‘after date’ cash receipts and follow through to pre-year-end receivable balances.
Here is an answer to a substantive procedure to confirm receivable valuation balance.
My question is how will ‘Review the ‘after date’ cash receipts and follow through to pre-year-end receivable balance’ affect the valuation of the receivable balance in the financial statement?
It shows that an amount in receivables at year end has been paid after year end, so there is no bad debt issue.