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Hi Mike,
In terms of section B Q2/3 how can we quickly determine by the requirement, which one has incorrect accounting treatments. Therefore we need to correct them. As currently i only explain various standards rather than suggesting the correct treatment
What is the trick to find out where Graham only needs the use of various standards?
Many thanks
Hi
For the most part – but beware, it’s not always! – Graham sets up the question where the directors are trying to pursue an accounting treatment which goes against the IAS / IFRS.
But it’s NOT ALWAYS the case. Occasionally you are faced with having to agree with the treatment.
In both situations, you need to explain what is proposed, what the IAS / IFRS says should happen and therefore what your conclusion is about the directors’ proposed treatment
There’s no particular trick to it. In fact, having identified from the “requirements” which question you are unlikely to attempt, still read the question in full. There MAY be something in that question which you could usefully use in an answer to one of the other questions
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