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I would like to know their difference and some example of Principal based and Rules based system which are under the topic of REGULATORY FRAMEWORK FOR FINANCIAL REPORTING. Thanks in advace
If you look in the P1 section of the opentuition site, you’ll find recorded lectures. In addition, download the free P1 course notes so you can read at the same time as listening
But there are, within the syllabus, topics that are far more likely to appear in the exam! Consolidations, preparation of financial statements, cash flows and interpretation, the Framework, lots of IAS / IFRS.
We’re you to ask my advice, I would suggest that reading P1 notes about Sarbanes Oxley and the UK Corporate Governance Code would not be an effective use of the little time remaining before you walk into that exam room.
But that’s only if you were to ask for my advice 🙂
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