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Probability requirements in recognition (conceptual framework)

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA SBR Exams › Probability requirements in recognition (conceptual framework)

  • This topic has 1 reply, 2 voices, and was last updated 8 months ago by Stephen Widberg.
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  • May 23, 2022 at 11:51 pm #656294
    jophal
    Member
    • Topics: 1
    • Replies: 0
    • ☆

    Hi

    So in the notes given by open tution it is mentioned as there is “no requirement of probability” in recognition of an item

    However in the Kaplan text (2021-2022)
    It is mentioned it is said that” recognition is not relavant if there is a low probability of an inflow or outflow of economic resources”(pg 09)

    NOTE- these are in regards to the recognition and derecognition part in the conceptual framework chapter

    It would be great help if you if you could clear this doubt

    May 24, 2022 at 9:43 am #656305
    Stephen Widberg
    Keymaster
    • Topics: 12
    • Replies: 2843
    • ☆☆☆☆☆

    Probability “went out” in 2018 the old Conceptual Framework.

    Framework = recognise if useful = faithful representation + relevant + subject to cost / benefit.

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