[Anonymous]

I’m taking AUD this Sat. Right now is Fri. early morning 1:24 am. and I’m pulling my hair trying to figure out the interbank transfer. What’s the rule to detect the cash misstatement? I’m dizzy when I see a bunch of dates and don’t have a clue at all. So, Please, somebody help me. Thank you!

[Sonali]

u must b talking abt kitting..!!

See u hav disbursement date as per Bank n client N receipt date as per bank n client..

Wat u hav to see is.

CASE 1 – if client had shown disbursement later than deposit. tat means he is overstating its YE balance..!!

CASE 2 – if client had shown deposit earlier than disbursement in both bank & books. tat means he is overstating its YE balance..!!

Basically u hav to see if the transfer unnecessarily increases balance.. tat is wrong

Hope this helps..

REG - 76
BEC - 80
AUD - 70, 74, 82
FAR - 87

[Anonymous]

Thank you for clearing that up for me. It didn't test me on this topic today.

[hopefulcpa28]

How was your exam? I take in 9 days, still have A4 and A5 to do. A4 is the most hardest part for me, any tips?

Hope you did well!!

[Anonymous]

@sonali

WOW thanks!!!! that's really helpful.

@CPA Peeker

How was ur exam????

[Author]

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