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Could you explain what is the “schedule” of assets?
I have come across this term several times but still do not understand what it is.
I also see it in F8 revision lecture FS Assertions and Audit evidence
A “schedule” of assets is really just a fancy list. For non-current assets for each asset it might consist of:
Description
Location
Identifying number (if one)
Date bought
Cost
Depreciation
NBVThank you for the explanation, I also had the same question.
So register of assets and schedule of assets are 2 different things?
What about inventory records and inventory listing? Those 2 terms are used in the description of substantial procedures re. inventory.
Thank you in advance.
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