There has been some changes in IAS rules(for example in employee benefits ).But in examination if i apply previous rules correctly instead of new rules for a treatment,will there be a penalty for this and if any how much?
Ask the Tutor ACCA SBR
IFRS change
12y ago#1Of course there will be a penalty - and probably a big one! It's like asking me whether, if you apply the tax rules from the year 1693 instead of the up to date rules, will there be a penalty!
Why on Earth would you want to learn the (old) rules? You will never, ever again be expected to apply those old rules
I have to rely on old rules because in our country(bangladesh) it is difficult to get a new up-to-date book.Now i read a p2 book which was published in june 2011.In p2 there was no syllabus change since june 2011(except ifrs rules),so i can trust this book.But when i saw a past paper answer i noticed the ifrs changes in relation to employee benefits chapter.Now i am tensed whether there is any other change in IFRS rules.
Can you give me a list of IFRS/IAS change of rules?
12y ago#3Hi Chinmoy. I'm sorry to hear of your difficulties. However, as I suggested in my original reply, why would I retain the information of "what used to be"
Off the top of my head I can't think of anything as substantial as the changes to Employee Benefits
I suggest you check on Google or on "ACCA P2 examinable documents" and get a list of IFRS and the latest date of any revisions to those IFRS
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