warehouse burnt in fire ,Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA AAA Exams › warehouse burnt in fire ,This topic has 3 replies, 2 voices, and was last updated 1 year ago by Kim Smith.Viewing 4 posts - 1 through 4 (of 4 total)AuthorPosts March 11, 2023 at 2:33 pm #681101 FrootiParticipantTopics: 92Replies: 83☆☆inventory is not written down to lower of cost and net realizable value as insurance claim is highly likely to be successful as confirmed by insurance agency. Please tell audit risk for this statement. March 11, 2023 at 2:42 pm #681105 Kim SmithKeymasterTopics: 130Replies: 8108☆☆☆☆☆Inventory is overstated and contingent asset (insurance recovery) understated or not disclosed, since they should not be offset under IFRS. March 11, 2023 at 3:13 pm #681111 FrootiParticipantTopics: 92Replies: 83☆☆Thank you so much maam March 11, 2023 at 6:00 pm #681148 Kim SmithKeymasterTopics: 130Replies: 8108☆☆☆☆☆You’re very welcome!AuthorPostsViewing 4 posts - 1 through 4 (of 4 total)The topic ‘warehouse burnt in fire ,’ is closed to new replies.