I’ve seen a lot of posts recently asking about the differences between IFRS and GAAP and how to remember which is which, and which one to use on the exam.
Yes–there are some differences between IFRS and GAAP. But they’re 95% the same. Compared to the similarities, the differences are few and you have to dig pretty deep to get to them.
My suggestion is this–just focus on learning the “big picture”. Don’t get too far into the details. Yes, there will probably be a couple of questions on the exam that will emphasize the difference. But the overwhelming majority of your FRA questions will be over the things that are similar. And if you’re not getting the big picture down, then you’re going to see the trees and not the forest, and you’ll get a lot of questions wrong.
Focus on their similarities–not their differences. Once you understand the overall “gist” of FRA, then work your way down to the differences.
Just my .02.