Criticisms of Standards - SBL

Syllabus requires a knowledge of deficiencies of accounting standards. If examined, I would expect it to be a small part of a question. Perhaps learn 2 per standard. :)

Thank You Sir. And also, I have the same issue with regard to the Disclosures of Standards. It seems quite difficult to keep them in my head since there are multiple standards. Could you please advise me in this regard on how it would be questioned in the exam sir?

There are no marks for standard numbers - ever!!!! Don't learn them - total waste of time. Just learn the rules. :)

Thank you so much sir! I am very glad that I don't have to memorize the disclosures of the standards.

Sir, I believe that Anygary was asking about the detail of matters that standards require to be disclosed rather than simply the title and number of the Standards. I have the same problem in trying to memorise the detail of the required disclosures. Are we expected to know these or are they essentially a matter of common sense?

You need to know disclosures from the disclosure standards - RPT, operating segments, contingencies, subsequent events But not necessary to learn detailed disclosures from, say, PPE, Investment Properties, Financial Instruments etc. What you must learn is the accounting treatments.