WorldatWork International Financial Reporting Standards for Compensation Professionals : T7

T7 real exams

Exam Code: T7

Exam Name: International Financial Reporting Standards for Compensation Professionals Exam

Updated: Sep 03, 2025

Q & A: 90 Questions and Answers

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Understanding functional and technical aspects of International Financial Reporting Standards for Compensation Professionals (T7) IAS 19 Purpose and Scope

The following will be asked from you in the exam:

  • Concept of accrual accounting
  • IAS 19 Purpose and Scope
  • How is this done?
  • Basic principle that the cost of providing employee benefits should be recognized in the period in which the benefit is earned by the employee, rather than when it is paid or payable

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Understanding functional and technical aspects of International Financial Reporting Standards for Compensation Professionals (T7) IAS 19 Purpose and Scope

The following will be asked from you in the exam:

  • Benefits that accrue
  • Definition
  • Types of short-term benefit
  • Practical examples of treatments
  • Profit sharing and bonus plans
  • Accounting treatment for short-term benefits
  • IAS 19 Short-Term Employee Benefits
  • Benefits that do not accrue

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