I recently noticed new FAR updates for Becker included a new SFAC No. 8 which replaced the old SFAC No. 2 on qualitative characteristics like relevance and reliability. Has anyone taking the exam recently seen this change in effect?? I want to know which SFAC to study because the new one is every different than the old. The new SFAC No. 8 qualitative characteristics are Relevance and Faithful Representation. HELP!!
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Jeff - another71.com
offlineadminPeople can't disclose anything, so I'll answer - the new pronouncement is tested effective July 1, 2011.
SFAC 2 stuff was removed from the NINJA notes as well.
Posted 9 months ago # -
Jeff - another71.com
offlineadminI just e-mailed Wiley - thanks for letting me know.
Posted 9 months ago # -
kettik
offlineMemberThe concept that's on fasb's website is not finished yet, there are still chapters to be added. SFAC 1 and 2 then will be superseded.
So if they're still in effect now I guess the replacement concept won't be tested.
Plus it takes 6 months for new stuff to get in the exam questions.Posted 9 months ago # -
KERI0323
offlineMemberI'm working in the online Wiley testbank and I noticed there are still questions on SFAC 2; are these still testable in the 4th quarter, I thought we only needed to concentrate on SFAC 8?
BEC 10/11/2010 77
AUD 11/30/2010 81
REG 02/25/2011 78
FAR 11/28/2011 74,68, 83 and DONE!!! NTS LA #460Posted 6 months ago #
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