CIMA Exam CIMAPRA19-F01-1 Topic 4 Question 28 Discussion

Actual exam question for CIMA's CIMAPRA19-F01-1 exam

Question #: 28
Topic #: 4

When developing local Generally Accepted Accounting Principles (known as local GAAP) some countries start with International Financial Reporting Standards (IFRSs) which are then amended to reflect local needs and conditions.

This type of approach is classified as:

AAdoption of IFRSs as local GAAP.

BUsing IFRSs as a model for local GAAP.

CIFRSs having a persuasive influence in formulating local GAAP.

DIFRSs having little or no impact in formulating local GAAP.

Show Suggested Answer

Suggested Answer: B

by Lizette at May 09, 2022, 11:18 PM

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