DFS - Dec 05 exam

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Liliana
Liliana Registered Posts: 39 Regular contributor ⭐
Hi there
I am going through the written questions of the past papers and the Dec 05 question 1.2. to advise on the accounting treatment of the goodwill in the consolidated financial statements, but the answer mentions the FRS10 and FRS11!
I have checked my college book and i don't have FRS10 & 11 in my book!!!
Any ideas? Has it change to another standard and i am completely blind on it?

Thanks in advance for your help!

Lily

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  • crispy
    crispy Registered Posts: 466 Dedicated contributor 🦉
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    Hello,

    This is because the DFS exam is based on International Accounting Standards (IAS 2 Inventories etc.) and not UK standards. So when revising your accounting standards refer to your text books instead of old exams or you may become confused. Look at the past exams since when IFRS became examinable (sorry I don't know when this is).
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