GAAP IFRS OMG

I pretty much always miss these questions because I never seriously read them in the readings. The only thing I know is that IFRS says something about “future economic benefits”… or maybe it’s “probable.”

How do you learn this information? Is there a list anywhere I can just rote learn?

I was asking the same question as you about a year ago.

Here’s my post. In it you’ll find a link that summarises the differences.

http://www.analystforum.com/forums/cfa-forums/cfa-level-i-forum/91308620

I would make your own list though. I went through my Schweser notes and made a mark every time it mentioned of of the standards, then I made my own list. I also narrowed down the list to only include what I saw as the heavy hitter differences that I though had a high likelyhood of being questioned. I just couldn’t remember all of them so narrowed it down to the top 15 or so differences (how you account for software that you build for yourself, etc). Then just memorize these and forget them the day after the exam.