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

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:
B) Using IFRSs as a model for local GAAP.
A) Adoption of IFRSs as local GAAP.
C) IFRSs having a persuasive influence in formulating local GAAP.
D) IFRSs having little or no impact in formulating local GAAP.

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

Actual exam question for CIMA's CIMAPRA19-F01-1 exam
Question #: 28
Topic #: 4
[All CIMAPRA19-F01-1 Questions]

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:

Show Suggested Answer Hide Answer
Suggested Answer: B

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

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Margart
9 months ago
Not sure about C, seems like a stretch to me.
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Denise
9 months ago
I agree with B, it’s a smart way to adapt!
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Na
9 months ago
Wait, is it really that straightforward?
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Shala
9 months ago
I think it's more like A, straight adoption.
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Janet
9 months ago
Definitely B, using IFRSs as a model makes sense!
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Marguerita
10 months ago
Okay, let's see. The question mentions auto.offset.reset=latest, so that's a key clue.
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Leota
10 months ago
I'm a bit confused on the difference between a circuit-level gateway and a packet filtering firewall. I'll need to review those concepts before answering.
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Benton
10 months ago
This is a good test of my API design knowledge. I'll need to think through the implications of each versioning strategy and how they impact the customer experience.
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Mozell
10 months ago
I've done something like this before, so I'm feeling confident. I'll just follow the steps and I should be good to go.
upvoted 0 times
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