URGENT! FRS 18&19 DF old standards exam

System
System Posts: 100,534 🤖 Admin 🤖
edited June 18 in AAT student discussion
I have an exam on wednesday for DF old standards and have a big problem<BR><BR>My text book has included SSAP 2 and SSAP 15.<BR><BR>I went through past papers and found FRS 18 & 19 mentioned! panick stations as i dont know what they are and they dont appear in my text book at all!!!<BR><BR>Can anyone provide me with definition etc i will need for this exam which is on wednesday!!<BR><BR>I do know they superceed these two SSAPs but thats all i know!<BR><BR>Thank you very much for any assistance<BR><BR>Richard

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  • System
    System Posts: 100,534 🤖 Admin 🤖
    URGENT! FRS 18&19 DF old standards exam

    Don't Panic.<BR><BR>FRS 18 - Accounting Policies and Concepts<BR>An entity should adopt accounting policies that give a true and fair view in their financial statements. They should consider the objectives of Relevance, Reliability, Comparability and Understandability. The concepts you wil know as consistency, prudence and business entity etc<BR><BR>FRS 19 - Deferred Tax<BR>Estimated future tax consequences of transactions/events of current and previous periods . (I doubt this will appear in the exam other than to know the definition. )<BR><BR>The AAT website has a useful page in the resource section listing detailed guidance notes on all units. This gives an outline of the depth of knowledge of FRS/SSAps. You can also do a search on the web for more detail.<BR><BR>I do hope this helps, and please don't panic - life is too short.<BR><BR>Sharon
  • System
    System Posts: 100,534 🤖 Admin 🤖
    URGENT! FRS 18&19 DF old standards exam

    Thank you thats great<BR><BR>Richard

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