• 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

20% off ACCA & CIMA Books

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

VAT Clarification – Historical vs Future Turnover

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › VAT Clarification – Historical vs Future Turnover

  • This topic has 1 reply, 2 voices, and was last updated 2 years ago by JillyB.
Viewing 2 posts - 1 through 2 (of 2 total)
  • Author
    Posts
  • April 23, 2023 at 4:24 pm #683397
    kibby
    Participant
    • Topics: 1
    • Replies: 0
    • ☆

    Practice Question 33: Kite Ltd- Based on the sales forecast, Kite would have exceeded $85,000 at the end of Feb 2023, however the historical turnover concept was applied in the answer. Why not the future turnover since Kite would have projected that sales would exceed $85,000 by the end of Feb 2023? Consequently be registered effective Feb 01, 2023? I’m a little confuse in this regard, your feedback will be appreciated.

    April 24, 2023 at 9:57 am #683439
    JillyB
    Keymaster
    • Topics: 0
    • Replies: 899
    • ☆☆☆☆

    You are correct – the sales at the end of Feb are over the limit. The rules on page 182 – future turnover have been applied and the answer is correct

  • 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

  • John Moffat on Group Accounts The Consolidated Income Statement (part b) – ACCA Financial Accounting (FA) lectures
  • John Moffat on Activity Based Costing part 2 – ACCA Performance Management (PM)
  • FarhadKamalzada on Group Accounts The Consolidated Income Statement (part b) – ACCA Financial Accounting (FA) lectures
  • MikeLittle on LW Global Chapter 17 Questions Company Law: Illegalities
  • eliaskaz123 on Activity Based Costing part 2 – ACCA Performance Management (PM)

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