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HI writing my F8 exam tis june 2014.
coming across questions where I am be required to know the accounting standards taught in F8, but I have not done F7 yet….
Would this be a problem?….kindly advise.
Thanks,
AAIt could be a problem! Have a look at past F8 papers and see what you think is the depth of F7 knowledge required for F8 – then you can make your own assessment 🙂
learn about prvision and contingent liabilities, difference between them,
criteria for recognition of development costs
know something about depreciation?
F8 is next for me, passed F7 in Dec. I don’t think you need to know anything from F7, just the knowledge from F3 would be enough. Things like allowance for bad debts, events after the balance sheet date. However I’m finding this paper has a very practical slant to it, so if you have work experience, be it in the accountancy/ commercial / marketing department it will help you more than anything you can learn from F7.
Further to my last post, (I’ve been been working past F9 papers the last week), I would like to add that you should work out a few F7 papers that deal with the presentation of N.C assets on the Balance Sheet. You must familiarise yourself with the format in which n.c assets in particular are presented, namely cost, additions, disposals, nbv value as this is something I was not familiar with when I did F3. If I notice anything of importance I will let you know.
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