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IAS standards

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA AAA Exams › IAS standards

  • This topic has 3 replies, 2 voices, and was last updated 9 years ago by MikeLittle.
Viewing 4 posts - 1 through 4 (of 4 total)
  • Author
    Posts
  • February 16, 2016 at 9:34 am #300660
    farazraza123
    Member
    • Topics: 1
    • Replies: 1
    • ☆

    Hi Mike,

    Thank you for the great lectures.

    I took P7 in December 2015 and got 44% when i thought i would of comfortable passed.

    I did not however learn any of the standards and include them in the answers, is this a big portion of the marks?

    and also the BPP study guide doesnt really give much deail on the IAS standards or even include all of them mentioned in the past papers do i have to search them up online?

    Please can you advise

    Thanks

    February 16, 2016 at 9:48 am #300665
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23327
    • ☆☆☆☆☆

    P7 has always required a sound knowledge of IAS and IFRS. You need not bother knowing the titles nor the distinguishing numbers, but you should know the accounting treatments of the items covered in a standard.

    The standards necessary for P2 are exactly those necessary for P7. The P2 course notes (and possibly too the F7 course notes) should bring you up to speed with accounting treatments

    Without knowing whether it appeared in December or not, I suggest that a good one to know would be IFRS15 but you know better than I whether it came up in the exam

    IASPLUS is a good site to look up any standards where you may feel that the course notes or your other available study material is lacking

    Finally, although the exams are not assessing the quality of a student’s English (and you’ve omitted an occasional letter and most of the punctuation) it really does upset me when people say (or even write) something similar to what you have written here:

    “when i thought i would of comfortable passed.”

    I’m not bothered about the missing capital letters in “I” but do you really believe that “of” is the correct word?

    February 16, 2016 at 9:55 am #300666
    farazraza123
    Member
    • Topics: 1
    • Replies: 1
    • ☆

    Okay great, are there any particular treatments I should focus on? or should they all be learnt?

    Apologies I did not proof read..

    I meant to say “when I thought I would have comfortably passed”

    February 16, 2016 at 12:44 pm #300686
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23327
    • ☆☆☆☆☆

    Any particular treatments? No, not really. Put it this way, the more you know, the less frightening it should be! You can never know too much but, if you do, you need to be very strict with yourself when it comes to time management in the exam

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