• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
Free ACCA & CIMA online courses from OpenTuition

Free ACCA & CIMA online courses from OpenTuition

Free Notes, Lectures, Tests and Forums for ACCA and CIMA exams

  • ACCA
  • CIMA
  • FIA
  • OBU
  • Books
  • Forums
  • Ask AI
  • Search
  • Register
  • Login
  • ACCA Forums
  • Ask ACCA Tutor
  • CIMA Forums
  • Ask CIMA Tutor
  • FIA
  • OBU
  • Buy/Sell Books
  • All Forums
  • Latest Topics

June 2025 ACCA Exam Results

Comments & Instant poll >>

20% off ACCA & CIMA Books

OpenTuition recommends the new interactive BPP books for June 2025 exams.
Get your discount code >>

theory

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FA – FIA FFA › theory

  • This topic has 1 reply, 2 voices, and was last updated 10 months ago by John Moffat.
Viewing 2 posts - 1 through 2 (of 2 total)
  • Author
    Posts
  • September 5, 2024 at 2:15 pm #710828
    Flora.May
    Participant
    • Topics: 10
    • Replies: 13
    • ☆

    N purchased some low value equipment and charged the cost as an expense rather than capitalising it to the NCA account .
    what accounting concept is being applied here?
    1- substance over form
    2-accrual
    3- materiality
    4-going concern

    one more question
    which of the follow are true
    1-partnership is not required to prepare financial statements to comply with IFRS
    2- the partnership pays profit to partners in the form of dividends
    3-a partnership has its own tax liabilities ,separate to that of its owners
    4-the partners has unlimited liability for the debts of the business

    can you explain each as well? like why they are true or false?

    thanks for your time and support.

    September 5, 2024 at 5:50 pm #710842
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 54715
    • ☆☆☆☆☆

    First question:

    Materiality. If it is low value then it will not have a material effect on the SOPL or SOFP

    Second question:

    2 and 3 are false. They apply only to limited companies as explain in my free lectures.
    1 and 4 are true

  • Author
    Posts
Viewing 2 posts - 1 through 2 (of 2 total)
  • You must be logged in to reply to this topic.
Log In

Primary Sidebar

Donate
If you have benefited from our materials, please donate

ACCA News:

ACCA My Exam Performance for non-variant

Applied Skills exams is available NOW

ACCA Options:  “Read the Mind of the Marker” articles

Subscribe to ACCA’s Student Accountant Direct

ACCA CBE 2025 Exams

How was your exam, and what was the exam result?

BT CBE exam was.. | MA CBE exam was..
FA CBE exam was.. | LW CBE exam was..

Donate

If you have benefited from OpenTuition please donate.

PQ Magazine

Latest Comments

  • Nvkt@25 on How to make the best use of OpenTuition
  • @zeba.aida on How to make the best use of OpenTuition
  • Myo94 on ACCA BT Chapter 20 – Marketing – Questions
  • siu18 on Professionalism, ethical codes and the public interest – ACCA Strategic Business Leader (SBL)
  • aashikahamed on CIMA P2 Chapter 1 Test

Copyright © 2025 · Support · Contact · Advertising · OpenLicense · About · Sitemap · Comments · Log in