iAP Help

Can somebody help?

Name some audit procedures to check fixed asset valuation and existence.
What are the principle tests for trade debtor existence.
Describe the substantive procedures to test sales completenes and stock valuation.


Really struggling here.

Comments

  • AK002
    AK002 Registered Posts: 2,492
    I've yet to sit this course, but for debtors test i'd take a stab at saying look at post year end receipts?

    (Most likely a wrong aswer lol :()
  • Gem7321
    Gem7321 MAAT, AAT Licensed Accountant Posts: 1,438
    Does it help if you change the phrasing of the question? Obviously this query has come straight from your study material.

    Ie. Name some audit procedures to check fixed asset existence
    Translates into - how would you check that fixed assets actually exist?
    The answer - physically inspect a sample of assets (in other words go and look at them with your own eyes).

    Try thinking on the questions differently and what the questions are actually asking you to do
  • jow774
    jow774 Registered Posts: 465 Dedicated contributor 🌟 🐵 🌟
    Gem,

    How can you still concentrate on your studys? Shouldnt you be somewhere else? Like the hospital having a baby?

    You need some Raspberry Leaf Tea and some pineapple, lol.

    Sorry if this sounds a bit nosey, but I keep seeing people saying your baby is due any minute.
  • Glynis
    Glynis Registered Posts: 488
    Gem7321
    The problem I'm having is understanding the wording in the text. This paper is a complete nightmare.

    Why don't the AAT work on the basis that we might never have done this sort of paper before. The study text is so hard to understand.
  • Gem7321
    Gem7321 MAAT, AAT Licensed Accountant Posts: 1,438
    Lol don't worry about being nosey!

    I did my last exams in December so I'm just here helping people out :001_smile:

    Baby is due on Friday but I'm ready for it to come out now!
  • Gem7321
    Gem7321 MAAT, AAT Licensed Accountant Posts: 1,438
    Hi Glynis

    If you're struggling this much and worrying would it be worth considering another option? Operating a cash management and credit control system is another skills test unit so you can still do it as quick as you like rather than waiting for the exams.
Privacy Policy