Assertions

น.ส. ศุภิสรา หลี ชน พู 644025 4026 -Occurrence: This assertion assert that recorded transactions and events actually occurred duringthe report period. It confirms that the transactions and events reflected in the financial statement s are genuine and valid, and they indeed took place. -Accuracy :The financial data and information presented in the organization's financial statements are accurate and free from material misstatement. It ensures that the amounts recorded in the financial statements are precise and reflect the true economic substance of the underlying transaction. -Cut- Off : are designed to verify that transactions are recorded in the correct accounting period, particularly at the end of the reporting period. This isimportant to ensure thatrevenues, expense, assets and liabilities are properly matched with the period in which they are incurred or arise - Existence : This assertion affirms that the assets, liabilities and transactions reflected in the financial statements actually exist and have occurred during the reporting period -Right and obligation: This assertion validates that the organization has legal ownership or right to use the assets and is responsible for the liabilities presented in the financialstatements -completeness. This assertion ensure that all transactions, assets and liabilities that should be recorded in the financial statements are included, and nothing is omitted -Valuation and Allocation: It asserts that assets. liabilities, revenues and expenses are valued correctly and allocated to the appropriate accounting periods -classification: refers to the assertion that transactions and accounts have been properly classified or categorized in the financial statements. This assertion ensures that financial information is recorded and presented in the appropriate categories -Presentation: This assertion ensures that financial information is appropriately presented and disclosed in the financial statements, including footnotes and other disclosures