I’m ashamed to admit this. I’m an accountant by profession and I’m supposed to be good with numbers, but I can’t for the life of me remember which IFRS and IAS go with which standards and notes. I get them all mixed up! And with the time constraints, I go blank.
If I do not remember the IFRS standard, is it possible to write “according to IFRS on consolidation” or do I need to remember all the numbers and names of the standards? How is it better to write if I can’t remember the standard?
Unfortunately this is a common issue at a time-pressured exam.
I agree with you that if you don’t remember, “according to IFRS” is better than not mentioning it at all. The main thing to remember is that you know what the standard states about that particular topic. If you can explain and expand the points relevant to the scenario, then I don’t see why the examiners should not give you the mark just because you can’t remember which note number it was.