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Hello Mike
Hope you are well
i gave p2 last year and passed first time. My question is in relation to IFRS knowledge required for p7
we have some really complicated calculations and rules involved in ifrs when it comes to revaluations/impairment, ifrs 9, leasing, share based payments, pensions etc
i learned them thoroughly when i gave my p2 last year.
however for the purpose of p7, do i need detailed understanding for ifrs just like in p2 or would a general understanding of these standards would suffice?
please let me know
thanks
I believe that a general understanding should be sufficient
Read the examiner’s comments from the last 2 years and you’ll see a repeated remark about students’ lack of very basic accounting knowledge
There’s no need for the same depth of understanding about the various IAS / IFRS within the syllabus, but there should be a general appreciation of the respective accounting treatment requirements
OK?
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