(b) Up to 1 mark per well explained procedure, overall max 6 marks for land and buildings and max of 4 marks
for work in progress.
(i) Land and buildings
– Cast schedule of land and buildings revalued this year
– Agree the revalued amounts to the valuation statement provided by the valuer
– Agree the revalued amounts included correctly in the non-current assets register
– Recalculate the total revaluation adjustment and agree recorded in the revaluation surplus
– Agree the initial cost for the warehouse to invoices to confirm cost
– Confirm through title deeds that the warehouse is owned by Jackdaw
– Recalculate the depreciation charge for the year
– Review the financial statements disclosures for compliance with IAS 16 Property, Plant and
Equipment

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