Fs ias & ifrs

eek

Is it me or did anyone else have trouble trying to remeber the IAS and IFRS for financial statements. It seems a minefield of information for very few marks?
Thoughts?

Jo Clark

Hello eek

Yes there is a lot to learn and remember. I recommend memory cards and making a note of the key points for each standard.

You will be tested in Section 1 and Section 2 so need to have these in your head as you need 70% in both sections and I think that Section 2 has a lot on standards and therefore you may need these marks however few they are.

Have you read the article on sitting the FNST exam by Steve Collings? If not I recommend it.


JC

Steve Collings

Hi

Be sure to get a sound grasp of the IFRS/IAS but try not to get too bogged down with the standards themselves. You are expected to demonstrate technical knowledge of the examinable standards but try not to get too bogged down at the detriment of other areas of the syllabus.

Jo Clarke kindly recommended by FNST article and I have provided a link to that article here.

Good luck.

Steve

eek

thanks both for this - will have a read through.

I am also studing for auditing at the same time which also has a lot of standards to learn so it just seems never ending.

PGM

Steve Collings wrote: »

Hi

Be sure to get a sound grasp of the IFRS/IAS but try not to get too bogged down with the standards themselves. You are expected to demonstrate technical knowledge of the examinable standards but try not to get too bogged down at the detriment of other areas of the syllabus.

Jo Clarke kindly recommended by FNST article and I have provided a link to that article here.

Good luck.

Steve

Totally agree. Understand the basics of them, don't worry about all the details and I wouldn't worry about the numbers of them... Although I should still make a list and try to remember the numbers of the main ones.

Do you know of any good resources, that pull them all into one location?

welshwizard

Claire Finch's book (from Kaplan) is very good because it puts some of the key points for the IAS/IFRS in diagram form. This really helps to get to grips with the key points but, of course, it's also about understanding how to apply them - this is what makes you competent.

Mollypod88

I just have a quick question regarding flashcards for the IAS and IFRS's.

How much information would you say you need to know on each of these?

I've gone to write my cards but now I'm stuck as I don't know how much to write down!

Any advice would be great