Acca aaa s21 Notes

September 2021 to June 2022 exams
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Bear in mind that IAS 1 
Presentation of Financial Statements 
is relevant to:
๏
going concern
๏
the general principles of presentation (materiality and aggregation, offsetting)
๏
comparative information
๏
the structure and content of the financial statements generally:
‣
statement of financial position
‣
statement of profit or loss and other comprehensive income
‣
statement of changes in equity
3. Accounting Estimates
ISA 540 
Auditing Accounting Estimates and Related Disclosures
is relevant to monetary amounts for 
which measurement is subject to 'estimation uncertainty' (i.e. an 
inherent
lack of precision). 
Responses to assessed risks of misstatement in an accounting estimate should include one or more of 
the following approaches:
๏
Obtain audit evidence from events after the reporting date;
๏
Test how management made the accounting estimate; 
๏
Develop an auditor’s point estimate or range.
September 2021 to June 2022 exams
Watch free ACCA AAA lectures 
77

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you can find: Free ACCA notes 
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September 2021 to June 2022 exams
Watch free ACCA AAA lectures 
78

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Only on 
OpenTuition
you can find: Free ACCA notes 
•
Free ACCA lectures 
•
Free ACCA tests 
•
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•
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Chapter 15