I would like to ask you for help guys. I wonder in which ACCA paper a student is for the first time introduced to GAAP? I am asking because accounting is about law and I wonder how this law ( GAAP) is taught to ACCA students?
An understanding of accounting standards (UK GAAP and IFRS) underpins all of your knowledge but the papers where you will need to show particular understanding are F3, F7, F8, P2 and P7.
F1, F4 and P1 are more concerned with legal structure, laws, regulations, environment and accounting theory.
The ACCA approach is to start you with the basics at F3. Expand upon that at F7 which is tested in more depth from a different angle at F8 then you should have read all accounting standards and have a good understanding of them by P2. (P7 is an option paper but if you take it that one tests at level P2 standard).
HTH,
Shaun.
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Shaun
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