Question to Past CFA Level 1 takers only, beginning, someone, people

noel

I was looking at older posts and last year some people were talking about how you the FSA section will tell you at the beginning, you can only use GAAP or IFRS.
Could someone from past Level 1ers elaborate on this?
Thanks.

ramzes

+1
Also, in the exam question sheet, they will say the same thing in the beginning of FSA section.

mik82

I thought this year they changed it to U.S. GAAP…

Penny-wenny

It is still showing assume IFRS only.

amqata

Last year a lot of people failed to read the bolded print at the beginning of the FSA section. All of the mocks, both Schweser and CFAI, had assumed GAAP. That was quite a curve ball and I was fortunate to have noticed it at the get go.
Assume IFRS