[vnambi49]

I saw somewhere SFAC 8 is testable from April 2011 but I am not able to see this in 2011 Wiley FAR text book or in their website as an update. Would appreciate if someone can clarify. Thanks.

[Herbieherb]

Ya. I remember 8 replaces 2 or something in April? Good luck!

NEW YORK- DONE

[HighMileageDude]

what is that?

[MCLKT]

Created with Compare Ninja

A:[73]97 F:[74]85 R:86 B:[74]82
*NINJA 10 Pt. COMBO & Yaeger*

[Anonymous]

The link doesnt work 🙁

[tn]

See above for SFAC 8 Material

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BEC - 83
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FAR - 74, 75
REG - 52, 47, 71, XX

[tn]

To follow up on my previous post, pages 1-3 is related to SFAC 8.

BEC - 83
AUD - 80
FAR - 74, 75
REG - 52, 47, 71, XX

[MCLKT]

@thomasnjr Thanks for posting the full link, didn't mean to put the partial up there.

A:[73]97 F:[74]85 R:86 B:[74]82
*NINJA 10 Pt. COMBO & Yaeger*

[Anonymous]

Just as a note to everyone because I didn't realize this until now, Gleim 2011 and Wiley 2011 are not updated for SFAC #8 (even though it was issued in Sept 2010). Becker has an update for this information on their website.

As an example, my 2011 materials said that feedback value was a component of relevance under the FASB framework, and conformatory value was a component of relevance under the IASB framework. SFAC#8 says that both words really have the same meaning, so for consistency, FASB will change the terminology from “feedback” to “confirmatory” in order to be more consistent with what the IASB will be using.

So on the exam, What if i get a question like “which of the following is a component of relevance under the FASB framework?” and both feedback value (SFAC#2) and confirmatory value (SFAC#8) are possible answers? Is SFAC #8 being tested in 2011?

[R. Baker]

From what Cindy says in one of the Yaeger FAR lectures, expect SFAC 8 to be tested after April 1, while SFAC 2 would have been used before then. Something about how changes such as this are fair game for exams 6 months after issuance, and since SFAC 8 was issued at the end of September, you could expect it to replace SFAC 1 and 2 questions after April 1.

Illinois CPA

[Author]

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