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Hello Guys,
you’ve prob all heard this a thousand times but can someone please point out the difference between the two variants? I understand that in the UK variant there will be up to 20 marks changed based on questions linked into the uk rules, but were can i find the specific material needed so i can read what they are?
I found a link that showed me a list of the different examinable area’s, but it didn’t expand as t what they actually were, i need something that i can read that will make me covered in the exam.
Thanks in advance everyone, and best of luck for the exam.
Peter
I’m with you on this one, there seems to be very little in terms of student focused material on the differences between the two.
The best I’ve come up with is to compare the examinable docs list with a publication on the overall differences such as: – https://www.ey.com/Publication/vwLUAssets/UK_GAAP_v_IFRS_-_The_basics_-_Spring_2011/$FILE/EY_UK_GAAP_vs_IFRS_-_The%20basics_-_Spring_2011%20.pdf
This doesn’t include all the differences however, missing out some of the newer IFRS, but it provides a good overview. Then I’ve just made notes summarising the main points on each difference which will hopefully give me enough to talk about in the exam.
Judging by the examiners answers on the UK variant it looks as though some marks will be available for detailing the IFRS guidance as well as UK GAAP treatment in a comparison questions which will hopefully mean you can score some marks just by saying how the treatments will be under IFRS. That would only be my back up option if i come unstuck!
Let me know if you come across anything more useful.
All the best in the exam.
Dom
Hello Dom,
I’ve drafted up an excel sheet stating the main differences if you would like to have a read over it? Luckliy enough in the exam the different treatments aren’t merged into the 35 marker, but will be asked for separately.
its not finished yet but will be tomorrow and its a half decent check up on a few things which could pop up, its based from my study material
Thanks
Peter
Please upload your file here
https://opentuition.com/community/groups/p2-corporate-reporting-int/documents/Do NOT post your email on line- you will mostly start getting lots of spam 🙂
Hi Peter,
Sounds like you have been busy!
If you don’t mind uploading to the link above that would be great. It will be useful to make sure we have everything covered. I will compare it to my list (only scribble at the moment!) and post back any comments.
Thanks,
Dom
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Hi Peter,
I don’t suppose I could get a copy of the differences?
Cheers
Royston
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