I have just registered on this wonderful site because iam studying at home and have no tuition help towards my exam this june.
I am sitting F7 UK June 2011 but have no idea how the exam format will be like and acca connect have provided me with confusing answers on this. I want to know what acca mean by saying they will examine F7 UK under international accounting standards. Do they mean we are supposed to produce statement of financial position instead of balance sheet and statement of comprehensive income instead of profit and loss. If for instance the UK version we have FRS1 Cashflow statements, If you say FR7 UK is based on International Standards does that mean one should ignore FRS1 and use IAS 7 instead?
Iam confused because acca connect responded to my querry by saying questions will be based on which variant you have chosen. You have entered for UK variant so will be UK accounting standards and terminology.
Can anyone clarify on this please because in the midst of all this confusion i asked acca to change my exam variant to international a day after 15 April and they refused.
I know the exam is hard but its even more difficult to not know what to expect on exam day.
thanks.
km3002
I am sitting F7 UK June 2011 but have no idea how the exam format will be like and acca connect have provided me with confusing answers on this. I want to know what acca mean by saying they will examine F7 UK under international accounting standards. Do they mean we are supposed to produce statement of financial position instead of balance sheet and statement of comprehensive income instead of profit and loss. If for instance the UK version we have FRS1 Cashflow statements, If you say FR7 UK is based on International Standards does that mean one should ignore FRS1 and use IAS 7 instead?
Iam confused because acca connect responded to my querry by saying questions will be based on which variant you have chosen. You have entered for UK variant so will be UK accounting standards and terminology.
Can anyone clarify on this please because in the midst of all this confusion i asked acca to change my exam variant to international a day after 15 April and they refused.
I know the exam is hard but its even more difficult to not know what to expect on exam day.
thanks.
km3002
