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IFRS 16 or IAS 17

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA AAA Exams › IFRS 16 or IAS 17

  • This topic has 1 reply, 2 voices, and was last updated 6 years ago by MikeLittle.
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    Posts
  • May 17, 2018 at 11:59 am #452415
    ram456
    Member
    • Topics: 17
    • Replies: 8
    • ☆

    Hello Sir Mike,

    If any questions in Paper P7 is based on ‘Leases’, is it possible that we still write basing our answers from IAS 17 and not from IFRS 16 and obtain a reasonable marks?

    Thank you for your valuable suggestions.

    May 17, 2018 at 12:10 pm #452423
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23303
    • ☆☆☆☆☆

    IAS 17 is no longer in the syllabus and, in fact, with effect from 1 January, 2019, it will no longer exist

    Briefly, in answer to your question, no! It’s unlikely that you will score “a reasonable mark”

    There is no point in an examiner / marker giving credit for standards that no longer apply

    Sorry, but that’s probably not what you wanted to hear

    OK?

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  • The topic ‘IFRS 16 or IAS 17’ is closed to new replies.

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