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IFRS/IAS points in Section B

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA AA Exams › IFRS/IAS points in Section B

  • This topic has 1 reply, 2 voices, and was last updated 10 months ago by Kim Smith.
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  • August 30, 2021 at 10:20 pm #633572
    japime
    • Topics: 21
    • Replies: 9
    • ☆

    Will points still be given in a risk assessment question if I dont state the exact IFRS/IAS number but I mention the idea behind it?

    For example, I simply say that inventory should be valued lower of cost and NRV, but I don’t write that it’s IAS 2 Inventory

    Also for audit procedures, will points still be given if I say for example “Request management to account for inventory under its appropriate IFRS/IAS” or do I have to go specific with the treatment?

    August 31, 2021 at 8:07 am #633598
    Kim Smith
    Keymaster
    • Topics: 88
    • Replies: 6096
    • ☆☆☆☆☆

    Short answer there is NO requirement and no marks for specifying ISAs/IFRSs

    https://opentuition.com/topic/isa-14

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