It will involve preparation of one or more of the consolidated financial statements that are examinable within the syllabus. This question will include several issues that will need to be addressed prior to performing the consolidation procedures. Generally these issues will relate to the financial statements of the parent prior to their consolidation.
The other three questions will attract 20 marks each. These will often be related to a scenario in which questions arise regarding the appropriate accounting treatment and or disclosure of a range of issues. Often one of the questions will focus more specifically on the requirements of one specific International Financial Reporting Standard.
Some International Financial Reporting Standards are very detailed and complex. In the DipIFR exam candidates need to be aware of the principles and key elements of these Standards. Candidates will also be expected to have an appreciation of the background and need for international financial reporting standards and issues related to harmonisation of accounting in a global context.
The Directory also lists materials by other publishers, these materials have not been quality assured by ACCA but may be helpful if used in conjunction with approved learning materials or for variant exams where no approved content is available. You will also find details of Additional Reading suggested by the examining teams and this may be a useful supplement to approved learning materials.
IFSR Provides global framework for should companies prepare and disclose their financial statements. All the general guidelines for preparation of financial statements are provided in IFRS. IFRS provides international standards, having an international standard is very much important for the company.
A single set of world wide standard will simply accounting procedure for a company to use one reporting language. Investors and auditors will also be provided with cohesive view of finance. Our work serves the public interest by fostering trust, growth and long-term financial stability in the global economy.
Your email address will not be published. Remember Me. Toggle navigation. How important it is for you to pass the exam in this attempt? Must pass. What percentage of course you have finished well so far roughly? How many hours you study in a day? How many times you have revised the topics you have finished.
Have you taken online or pen drive or live class from a renowned faculty? What percentage of the classes you have watched? Have you attempted mock tests or practice tests yet? How many tests you have taken? Did you manage to finish the test papers on time?
Yes, all the time. No, I am struggling. How is your health in general? I am fit. Generally OK. Keep falling ill often. How is your food habit? Healthy stuff only. Mostly healthy. A Framework for Financial Reporting is a set of theoretical principles and concepts that underlie the preparation and presentation of financial statements.
If no conceptual framework existed, then it is more likely that accounting standards would be produced on a haphazard basis as particular issues and circumstances arose. Framework for Financial Reporting helps in the preparation. If you have any latest material you can share with me,. Consolidated Financial Statements Consolidated Financial Statements AASB 10 has a revised definition of control, this will help to all the entities to find out that control exists or not.
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