knowyoursubject.com - 29 Apr 2008, 03:03 am
Hi
When you check the difference in the syllabus for UK and INT there is not much difference apart from a few changes in terminology and the use of UK accounting (SSAP) standards as apposed to IFRS. The concepts remain the same.
I have now updated the ACCA F7 (INT) Revision Software to include the IAS1 (Revised) with the new presentation changes that came about. The balance sheet is now known as the statement of financial position, which makes sense really than calling it a balance sheet. For us trainee accounts, it never balanced on first attempt anyway!
The income statement has also changed along with the Cash Flow Statement, now known as Statement of Cash Flows. I hope they did not spend too much time on planning that one.
Anyway hope the update is useful and good luck for June 08.
KYS
http://www.knowyoursubject.com/f7_sti.html
When you check the difference in the syllabus for UK and INT there is not much difference apart from a few changes in terminology and the use of UK accounting (SSAP) standards as apposed to IFRS. The concepts remain the same.
I have now updated the ACCA F7 (INT) Revision Software to include the IAS1 (Revised) with the new presentation changes that came about. The balance sheet is now known as the statement of financial position, which makes sense really than calling it a balance sheet. For us trainee accounts, it never balanced on first attempt anyway!
The income statement has also changed along with the Cash Flow Statement, now known as Statement of Cash Flows. I hope they did not spend too much time on planning that one.
Anyway hope the update is useful and good luck for June 08.
KYS
http://www.knowyoursubject.com/f7_sti.html