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Sir, for examiner report j19, the final part of Q3
“Many candidates set out that users of financial statements will have problems because of inconsistencies in the way new IFRS Standards deal with the change in accounting policy but failed to give examples of such inconsistencies. For example, the conceptual inconsistencies between IFRS 10 Consolidated Financial Statements and IFRS 15 Revenue from Contracts with Customers.”
“Candidates should have discussed the issues which are created for users because of inconsistencies in the way new and existing IFRS Standards deal with the change in accounting policy.”
How of IFRS 10 and IFRS 15 being conceptual inconsistencies deal with change in accounting policy?
Thank you.
I don’t think I can. Sometimes the examiner expectations are way outside what any student (including the prizewinner) would achieve.
I did ask a colleague about this a couple of months ago – he still hasn’t come back to me – if he ever I does I will share his answer with you.
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