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we deal receivables in reapect of sofp or p/l ?

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we deal receivables in reapect of sofp or p/l ?

When we think about the assertions about RECEIVABLES to test in sustantive procedures ......WHERE WE NEED THINK WEATHER IN RESPECT OF SOFP OR IN P/L ?

April 10th 2015 AN ACCA USER 260 Points

2 Replies

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Well should think about them in respect to both SOFP and P/L as it affects both because of bad debts and allowances which affect both statements.
August 12th 2015 AN ACCA USER 150 Points
–1 Vote

RECEIVABLES is a SOFP item so it has to test with SOFP assertions.

June 30th 2015 AN ACCA USER 480 Points
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