Accountancy Forum

<b>THE OPEN BOOK PAPER</b>

The Council of ICAP in its meeting held on 26 January 2007, has decided to allow students to carry bound volume of International Financial Reporting Standards published by the Institute of Chartered Accountants of Pakistan while appearing in papers of 'Financial Accounting Module-C and Advanced Accounting and Financial Reporting Module-E'.

What is your opinions about that.
will it be beneficaial or not for the students in the examination ?
because it will confffuse students and they will waste their valuable time if they consult with IFRS.

Is it a trick to make the financial accounting paper more difficult OR they are really making it easy ?

Please comment on the following policy.

Thanks

No definiton or word by word production of any material from the STANDARDS will be asked in the examination. In my opinion, this step is taken to promote the students to take absolute understanding of Standards rather to waste time in learning definitions. In a Spring 2007 paper of Module-C, ICAP is more concerned in asking tricky questions and there is no use of "OPEN STANDARD" when a person is attempting the paper.

It seems in pursuance with examination techniques of other education bodies. In my opinion its not gonna make things easier for the students. However, I see it as a positive change.