chetan86

I thought I remember GAAP for morning and IFRS for afternoon, lol.

kd26gioi

Every question seemed to state if GAAP or IFRS should be used.

Wasteoftime

Just to calm my nerves I'm going to assume drgonzo is right and hopefully there is no impact. From my memory, it seemed that any of the questions that had different answers based on whether you used GAAP or IFRS explicity stated the method in the title. Either way, I guess there's nothing I can do about it now.

draz

I definitely remember IFRS disclaimer in the AM section, no doubt. I double checked... but I also checked over in the end all the questions that would have had that assumption make a big difference, and there weren't any to my knowledge.

JRossSter

The instruction in the morning was definitely "assume IFRS unless specified"

I paused there with 5 sec and was like ... "Huh ... IFRS ... not GAAP ... interesting"

pacmandefense

@ okiew5 - was it definitely IFRS? I was assuming US GAAP, but if I remember correctly there were a significant amount of questions in which it GAAP or IFRS was stipulated in the question itself. Based on this I wouldnt say there were more than just a few questions it would negatively impact on the morning session if I did it in GAAP would you?

The only reason that I looked on the afternoon session was because of the R&D capitalization cost question in which there were no instructions in the questions. I don’t remember any questions on the morning session tipping me off like that.

ramzes

I actually had the same concern. I was flying through the FRA in the afternoon and I'm so used to answering based on GAAP that I hope I didn't miss any easy questions by accidentally applying GAAP out of habit. I don't believe the morning session had that disclaimer, but I could be wrong..