vat

System
System Posts: 100,534 🤖 Admin 🤖
edited June 18 in AAT student discussion
does anyone know whther there will be much VAT in the FRA exam tomorrow, if so what sort of questions will they be asking? Also will we have a vat return to complete

Comments

  • System
    System Posts: 100,534 🤖 Admin 🤖
    vat

    I dont know how much detail they will go into VAT. If anywhere we may have to make a journal adjusment due to an error of some description or be prompted to write something on SSAP 5 - Accounting for VAT.<BR><BR>I saw a question on a previous exam paper where you were asked to explain what the credit balance of the VAT account meant in the Balance sheet.<BR><BR>We deffinatly deffinatly will not have to do a VAT Return as that was covered in Unit 7!!!<BR><BR>Good Luck<BR>Andy
  • System
    System Posts: 100,534 🤖 Admin 🤖
    vat

    i dont imagine we will have a vat return to fill as that is covered in unit 5 and not fra<BR><BR>There may be some vat calcualtions to do in terms of journal corrections

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