Dear Mike,
It's said that "If the revenue for the previous year was overstated, the correction will affect the profit for the year, the assets in SoFP and the ret'd ears for the comparative period." I can't see in what way it will affect assets. Would you please kindly help advise.
And unfortunately, I still believe the statement below is true, even if I've examined the answer very carefully.
Statement is "When the revised earnings figure for the year ended 31/03/06 is divided by the weighted average number of shares in issue during that year, it should agree with the comparative eps figure (ie for the year ended 31/03/06) reported in the financial statements for the year ended 31/03/07."
Thank you very much!
It's said that "If the revenue for the previous year was overstated, the correction will affect the profit for the year, the assets in SoFP and the ret'd ears for the comparative period." I can't see in what way it will affect assets. Would you please kindly help advise.
And unfortunately, I still believe the statement below is true, even if I've examined the answer very carefully.
Statement is "When the revised earnings figure for the year ended 31/03/06 is divided by the weighted average number of shares in issue during that year, it should agree with the comparative eps figure (ie for the year ended 31/03/06) reported in the financial statements for the year ended 31/03/07."
Thank you very much!
