How should students study for the current issues element of the syllabus?
Students should read journals and periodicals and look at the websites of the International Accounting Standards Board and the ‘Big 4’ accounting firms (KPMG, PwC, Deloitte, Ernst & Young). Look out for major issues for users and preparers of financial statements. Current issues are normally covered by an essay question and therefore if a new accounting standard has been issued then students should know the key implications. If there has been an issue about an accounting standard and an exposure draft or a discussion paper has been issued, then that could be a topic for a question.
