I am confused about actual AAT requirements in respect of preparing either:
Statement of changes in Equity; OR Statement of Recognised Gain/Losses
in set of accounts I might be asked to prepare in exam.
Am working from Osborne text which gives plenty of practice in Equity strnts, but only gives a proforma about Gains/Losses. But practice exam asks for gains/losses stmt.
Just need to know which to be conversant with for exam. The two are obviously not the same.
If asked to do a Gains/Losses statement, and no reval gain in year, would i just recorded profit for year and nothing else. If there is a gain, how do I estimate tax?
