Multiple choice IAS/IFRS Q's in FNST exam.

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The Magician
The Magician Registered Posts: 96 Epic contributor 🐘
I'm actually more worried about this type of question than any other in the FNST exam. Even the written section of IAS/ IFRS.

Can anyone provide guidance or advice on how to tackle it?

Thanks.

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  • Louise89
    Louise89 Registered Posts: 296 Dedicated contributor 🦉
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    I'm actually more worried about this type of question than any other in the FNST exam. Even the written section of IAS/ IFRS.

    Can anyone provide guidance or advice on how to tackle it?

    Thanks.

    There are 21 standards (& 18 ratios) to learn, best to rope learn and understand these then you will cruise this part of the exam.
  • Whirlwind
    Whirlwind Registered Posts: 249 Beyond epic contributor 🧙‍♂️
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    Hi,

    I typed a list of the IAS & IFRS that were in the textbooks then wrote a few key words/phrases that triggered what the standard was about, then wrote it out again and again - until I could see them in my sleep!!

    I passed!! I found the list really helpful with work as it was short and concise, saved me ploughing through the massive volumes in the office library trying to find simple definitions.
  • stephleedz
    stephleedz Registered Posts: 179 Beyond epic contributor 🧙‍♂️
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    I started FNST classes last Tuesday night but we haven't been told about how done anything to do with the 21 IAS/IFRS I normally revise by writing stuff like this on flash cards then blue tack them
    To my PC at work...can anyone tell me what the 21 IAS/IFRS are so I can get a head start?

    Steph
  • Neela xsx
    Neela xsx Registered Posts: 5 Regular contributor ⭐
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    stephleedz wrote: »
    I started FNST classes last Tuesday night but we haven't been told about how done anything to do with the 21 IAS/IFRS I normally revise by writing stuff like this on flash cards then blue tack them
    To my PC at work...can anyone tell me what the 21 IAS/IFRS are so I can get a head start?

    Steph

    Hi

    if you go to the study area of level 4 on the aat site there is a booklet you can print which has notes of the 21 IAS & IFRS you will need to know
  • stephleedz
    stephleedz Registered Posts: 179 Beyond epic contributor 🧙‍♂️
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    Hi thank you.

    If your talking about 'International Accountin Standards (Factsheet)' I feel sick how the heck can you remember 14 pages of info!!

    Steph
  • The Magician
    The Magician Registered Posts: 96 Epic contributor 🐘
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    I managed to "learn" the 14 page fact sheet, but I'm still convinced I will be asked stuff that is not covered on the sheet.

    One of the questions on mock 2 for FNST asks about IAS 27 and 50% shareholding rule, for associates and subsidiaries, but that is not covered on the sheet!

    A little harsh.

    This is compounded by the fact that the chief examiner thinks that the exam has been too easy and too many weak candidates have passed FNST. You should check it out, it's in the latest PQ magazine.

    I'm in for a fun time next week.

    Can anyone who has taken this exam confirm whether they use the "pop-up" windows for SOCI / SOFP extracts?
  • Jo Clark
    Jo Clark Registered Posts: 2,525 Beyond epic contributor 🧙‍♂️
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    I managed to "learn" the 14 page fact sheet, but I'm still convinced I will be asked stuff that is not covered on the sheet.

    One of the questions on mock 2 for FNST asks about IAS 27 and 50% shareholding rule, for associates and subsidiaries, but that is not covered on the sheet!

    A little harsh.

    This is compounded by the fact that the chief examiner thinks that the exam has been too easy and too many weak candidates have passed FNST. You should check it out, it's in the latest PQ magazine.

    I'm in for a fun time next week.

    Can anyone who has taken this exam confirm whether they use the "pop-up" windows for SOCI / SOFP extracts?
    Hello

    I can confirm that you now have pop up boxes with the relevant data in. I think if you look at the practice CBAs you will see how it works.

    Definitely a step in the right direction as when I sat FNST I had to scroll up and down the page and it was so easy to miss a figure or important 'further information' data.

    Good luck with the CBA, if I can pass it, so can you :)
    ~ An investment in knowledge always pays the best interest ~
    Benjamin Franklin
  • The Magician
    The Magician Registered Posts: 96 Epic contributor 🐘
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    I appreciate your kind words.

    Thanks for the info regarding the pop-up boxes.

    I've had to wait an age to take this exam due to my learning provider being over-subscribed.
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