Acca sbr - Study guides, Class notes & Summaries

>>>>>> FRAMEWORKS What if not followed IAS or IFRS? correct answer: Not True and Fair = UNETHICAL Why PRINCIPLES not RULES? correct answer: Principles harder to circumvent Why have a FRAMEWORK? correct answer: Provides guidances for standards setters Gives guidance where no standards exist Helps all parties with intrerpretation 2 x Useful qualities of financial information correct answer: RELEVANCE = Influences Decisions FAITHFUL REPRESENTATION = Complete, Ne...

ACCA SBR: IFRS Standards Exam Questions and Answers What is the standard relating to adopting IFRS standard for the first time and from when does it apply? - ANSWERIFRS 1 From the date of transition What must an entity do/produce when adopting IFRS standards for the first time (IFRS1)? - ANSWERProduce an opening SFP where they must: - recognise, derecognise & measure assets/liabilities according to IFRS - put any gain/losses @ transition date to RE What standard refers to business combi...

What if not followed IAS or IFRS? Not True and Fair = UNETHICAL Why PRINCIPLES not RULES? Principles harder to circumvent Why have a FRAMEWORK? Provides guidances for standards setters Gives guidance where no standards exist Helps all parties with intrerpretation 2 x Useful qualities of financial information RELEVANCE = Influences Decisions FAITHFUL REPRESENTATION = Complete, Neutral, No Errors What does RELEVANCE offer? PREDICTIVE VALUE CONFIRMATORY VALUE 4 X Qualities of FAITHFU...

Mindmaps created by myself of the various topics from the ACCA SBR module. The mindmaps provide information on the accounting standards, definitions, formulas and also proformas tested throughout the syllabus.

Providing in depth and breif notes about SBR and effective notes

The following document is a high level summary of the Kaplan textbook for March 2024 & June 2024 ACCA Strategic Business Reporting Exam. All chapters are covered in detail with each chapter summarised into easily understandable points which can be summarised into revision cards for later levels of study.

This document contains all the relevant IFRS and IAS standards required to pass your SBR exam. All the important points have been written in a concise and precise manner which allows you to quickly glance through right before your exam! I passed with 60% on my first attempt using these notes.

A mind map of the topic Fair Value Measurement, which can be used by anyone needing help in putting the chapter into a single line, or can I say, it will be easier to understand.

A flowchart of IFRS 13 for ease in understanding the standard.