[susanalam]

I’m taking UK variant and panicked when I realised all the study books are based on International. Most of the FRS’s and IFRS’s have the same principals. You’re marked for relevant information not quoting FRS (or IFRS) numbers.

In Kaplan texts there is a little section at the back of most chapters entitled UK GAAP showing the differences between the two. (Where there isn’t a section there are no differences) I’m pressuming other texts will have similar info. I’ve also googled for FRS definitions.

My advice would be if you have to sit the UK variant that considering all the hard work you have already done, (you probably know a lot more than you think), take a deep breath, read the paper, don’t panic when you see FRS (they are usually given a name), apply what you know in a relevant manner.

I wish every bit of good luck to you – I know out of all papers so far this is one I don’t want to sit a second time!!! Best wishes

[susanalam]

Try here – question 1 in Dec 07 paper

https://www.accaglobal.com/en/student/qualification-resources/acca-qualification/acca-exams/p2-exams/exams-p21.html

[susanalam]

I remember this one – that effective interest changed from 9% to 9.38% to take into account a selling cost which needed to be apportioned between equity and liability on a convertible bond. If you work through the answer, qqloo, using the 9.38% effective interest rate (after using the adjusted liability opening balance) you will see that it does work out neatly. NB Small differences are rounding

Good luck Tuesday

[Author]

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