1. BIG Mark Questions
These are 4 main areas tested in SBR. These types of questions are 100% sure to appear in every exam.
a. Group accounting-discursive with some calculation
b. Accounting issues and Ethical implications
c. Corporate reporting-knowledge of IFRS as well as application APPRAISAL OF FINANCIAL OR NON-FINANCIAL INFORMATION from the preparer’s perspective or other stakeholders .
d. Integrated reporting, management commentary, APM and sustainability reporting
That is why, you need to have sound technical knowledge of all the reporting standards (the IFRSs) as this is crucial in passing the exam. Your carried forward knowledge from FR or degree will be of great help and is of uttermost importance as it is a MUST in SBR. That is why the first week module is revision of the key reporting standards from FR.
SBR is a practical exam, putting you in a very real scenario and thus you need to learn the art of applying the IFRSs to the given scenarios. Having knowledge is crucial but having the right exam technique makes a big difference in the marks.
You need to well versed with the Conceptual Framework, as you are required to evaluate the consistency of the framework in relation to the relevant IFRS examined in the questions. As well as being aware of the changes in accounting regulation as part of current issues
Mind you, in the recent SBR exam, candidates were required to prepare extract of the Group FS and thus you must know how to prepare the financial statements of groups of entities.