• 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
  • FIA Forums
  • CIMA Forums
  • OBU Forums
  • Qualified Members forum
  • Buy/Sell Books
  • All Forums
  • Latest Topics

20% off ACCA & CIMA Books

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

VAT

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

  • This topic has 1 reply, 2 voices, and was last updated 2 years ago by John Moffat.
Viewing 2 posts - 1 through 2 (of 2 total)
  • Author
    Posts
  • April 24, 2023 at 4:13 pm #683474
    sguha
    Participant
    • Topics: 64
    • Replies: 42
    • ☆☆

    in case a vat registered business, buys a fixed asset on which vat is paid
    entry will be

    Fixed asset Dr
    Sales Tax Dr
    To Bank Cr

    but if the business is not vat registered, entry will be

    Fixed asset Dr
    To Bank cr

    we will include the VAT amount in asset and depreciate that

    is it right?

    April 25, 2023 at 7:55 pm #683525
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 54759
    • ☆☆☆☆☆

    That is correct.

  • Author
    Posts
Viewing 2 posts - 1 through 2 (of 2 total)
  • The topic ‘VAT’ is closed to new replies.

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

  • iwillwill on Accounting for Management – ACCA Management Accounting (MA)
  • Robo2795 on Discounted Cash Flow – Internal Rate of Return – ACCA Financial Management (FM)
  • Sarailee95 on EPS – Basic EPS Example – ACCA Financial Reporting (FR)
  • Teti on Groups – Other points – ACCA SBR
  • respectngwenya@yahoo.com on CIMA BA2 Cost Classification and Behaviour

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