IAS -v- FRS for DFS!! How I can Help
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Well it's arrived with a vengeance!!
I've noticed a few posts with a few concerns about how those studying for DFS are going to cope with the International Standards.
The good news is (as mentioned in previous posts) that there isn't that much difference between FRS/SSAP than there is with IAS.
However, there is ONE big difference (and that is mentioned in a previous post). That is with the numbers. As mentioned in a prior post whilst FRS may be similar with IAS - their references won't be the same. For example FRS 8 is Related Party Disclosures - IAS 8 is Accounting Policies (Changes to Accounting Estimates or Accounting Errors). IAS 8 was previously known as FRS 18.
As an aide memoire for you all I am going to post a thread in a couple of days tabulating an IAS with its FRS equivalent.
Please note, however, that IAS IS examinable and not FRS/SSAP/UITF so you will need to concentrate on the IAS rather than the FRS. This is just to give your brain a boost as to what the IAS wants by reference to the old FRS.
Best regards
Steve
I've noticed a few posts with a few concerns about how those studying for DFS are going to cope with the International Standards.
The good news is (as mentioned in previous posts) that there isn't that much difference between FRS/SSAP than there is with IAS.
However, there is ONE big difference (and that is mentioned in a previous post). That is with the numbers. As mentioned in a prior post whilst FRS may be similar with IAS - their references won't be the same. For example FRS 8 is Related Party Disclosures - IAS 8 is Accounting Policies (Changes to Accounting Estimates or Accounting Errors). IAS 8 was previously known as FRS 18.
As an aide memoire for you all I am going to post a thread in a couple of days tabulating an IAS with its FRS equivalent.
Please note, however, that IAS IS examinable and not FRS/SSAP/UITF so you will need to concentrate on the IAS rather than the FRS. This is just to give your brain a boost as to what the IAS wants by reference to the old FRS.
Best regards
Steve
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Re:IAS -v- FRS for DFS!! How I can Help
Thanks, I look forward to reading your tips! 8)0 -
Re:IAS -v- FRS for DFS!! How I can Help
Hi Buddly and other DFS students,
I have posted a list of the IAS on a separate thread, but there was a subsequent thread posted after it giving some IAS that won't be examinable.
Incidentally, I decided against comparing IAS with the FRS equivalent as this may cause confusion. I have said in previous posts that there isn't that much difference between IAS and FRS. That is the case - but there are minor differences and I didn't want to mislead any of you.
As I do not have access to what is and what isn't examinable I have posted the full list.
Sorry if I have over-burdened (or maybe more appropriate petrified) you with the list. Unfortunately, like I say I am not au fait with what is and what isn't appropriate to DFS but you never know - it may come in useful for any further studies.
Kind regards
Steve0