Meeting 3: Deriving revenue and expenses
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One response to “Meeting 3: Deriving revenue and expenses”
The terminology can be very confusing!
Statement of Financial Position (SoFP) is the “correct” term under IFRS but most people will still call it a Balance Sheet. If you look at published accounts they usually call it a Balance Sheet. Even in a plc. (Greggs, I am looking at you here).
I think it is important that students recognise both.
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