Suggestion on discursive questions

CCCC8y ago

Dear Sir, Could you give some advice to approach Part B, E, F's questions in syllabus? Like Part B where require to evaluate the appropriateness of financial reporting framework and critically discuss change in accounting regulation I don't have much knowledge on the pros and cons on the framework and what have change in accounting regulation as there are so many information up there in IASB, IFRS website and I find it a bit exhausted to read them all about the change of each regulation. Therefore, do you have any advice on how to effectively filter key information which help answer the question while look up those websites and what I should focus for this part of questions in the revision. Thank you

P2-D2Tutor8y ago#1

Hi, I'd read the technical articles on the ACCA website for SBR and then I'd look at the CPD articles for CR on the ACCA website too. You can also look at the IASBs workplan to see what they're up to with regards to the latest set of accounting rules. Thanks

CCCC8y ago#2

Thank Sir I am now doing the practice question with BPP revision kit and found that some of the sample question in Part C where to provide accounting treatments toward the scenario will include some definition and reference to the standards. For example, a question was required to advice accounting treatment on a contract related with transaction price under IFRS15. The sample answer will provide definition on some terms like transaction price and full terms on requirements that qualify a variable considerations. I found it hard to answer the questions like that as I cannot really repeat the terms or the full criteria toward some issues. What would be the alternative way to illustrate the scenario rather than refer to definition and detailed terms in the standard Thank You!

P2-D2Tutor8y ago#3

Hi, I'd try to steer clear of just writing out definitions as it won't score you the marks. I'd focus on answering the question specifically and telling the examiner how to treat the item in the financial statements using the rules to support your answer. Thanks

CCCC8y ago#4

Thank you, Sir!

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