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hello mike
i know you wont get any marks for remembering the standard number and name. but how else shall i refer to a standard when pointing out the correct treatment?
shall is just say “according to the accounting standard, a provision is recognised when……”
is that ok?
“The new standard on leasing states that …”
“The new audit reports standard now requires …”
Incidentally, you don’t LOSE marks if you put the number in your exam answer.
You could put “The new standard on leasing IFRS 16 states that …”
No marks for IFRS 16 and of course you must know what the standard says. Equally, it’s not very impressive were you to write “The new standard on leasing IFRS 15 states that …” but that shouldn’t cost you marks. It’s just not marker-impressive!
Hope that helps
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