It's worse than Company Law.
The no. of Financial Reporting Standard Chapters are so much!! Even the professor also confesses he doesn't know certain things.. Ha...
FRS 14 says A, B and C. Then FRS 108 supercedes FRS on point A and is implementing in January 2009.
Prof makes a mistake on a previous slide regarding reporting captial expenditures because FRS 108 now says they must.
Doh... What am I supposed to know man. I heard that they came up with so many new FRS chapters that people cannot keep up. Haha..
I wonder what supercedes FRS 108. Ha..
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