FRS18

System
System Posts: 100,534 🤖 Admin 🤖
edited 10:31AM in AAT student discussion




currently going over june exam (FRA)have the answers but just wandering if anyone could give me a bit of explanation re:two objectives listed in FRS18? apparently the answers are two from the following:
Relevance,Reliability,Comparibility,Understandability.What the hell is it going on about??

All explanations gratefully received.

Comments

  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:FRS18

    Multiple post
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:FRS18

    Hey, just noticed your post.

    FRS 18 is the Accounting Policies concept, if you have the study text it is in there, chapter

    It contains, Going concern, Accruals, And then the objectives of FRS 18, relevance, reliability, comparability, understandability.

  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:FRS18

    Hey, just noticed your post.

    FRS 18 is the Accounting Policies concept, if you have the study text it is in there, chapter

    It contains, Going concern, Accruals, And then the objectives of FRS 18, relevance, reliability, comparability, understandability.

  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:FRS18

    Is this still relevant? Aren't the AAT exams now done using international accounting standards or is this just DFS?

    Annette
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:FRS18

    AAT Intermediate and foundation still uses SSAP And FRS in old british standards, for some reason we dont learn international till AAT technician.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:FRS18

    Thanks for clearing that up for me, however seems a bit rubbish! I did DFS under UK standards but am doing financial reporting under international standards and am finding it quite difficult to stop thinking in UK standards (I work in practice so am familiar with some of them)

    Annette

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