ACCA P2 Corporate Reporting

Free online study materials and support for ACCA P2 Paper

ACCA Paper P2 – Key to success

There is no change to the format of the exam in December 2014.

Syllabus changes:

There have been no changes to the syllabus, but references to a framework for environmental and sustainability reporting have been amended to refer to the draft Integrated Reporting Framework.

Nature of the ACCA P2 paper

ACCA P2 Paper – Corporate Reporting – a ( big ) step up from F7 Financial Reporting – is to apply knowledge and skills and to exercise professional judgement in the application and evaluation of financial reporting principles and practices in a range of differing business situations.
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ACCA course notes

Free ACCA P2 course notes

NEW! Extra chapter for Paper P2 December 2014 Exams

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ACCA video lectures

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ACCA articles

ACCA P2 Articles

Impairment review of goodwill

Specially for OpenTuition students, Tom Clendon shares a chapter of his book: “A Student’s Guide to Group Accounts”

NEW! Student Accountant Article summary: Bin the clutter

Accounting for Intangible Assets

Compound Financial Instruments

ACCA Exam Technique

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Exam technique video: Groups with accounting standards

Tips for ACCA Paper P2 June 2014 exams

Q1 Consolidated Statement of Income tent structure including a foreign subsidiary (35 marks); 8 marks of corporate governance and 7 marks chat about management commentaries

Q2 Scenario question with 4 problem areas worth 5 – 7 marks each with up to 12 references to IAS / IFRS. Occasionally, the directors will have proposed an appropriate treatment – just occasionally! So, be aware that the proposed action may in fact be ok – it’s not always a poor choice by the directors

Q3 Similar to question 2 – a scenario question with 3 – 4 parts worth anywhere from 5 – 12 marks with up to 6 references to IAS / IFRS

Q4 Current issue question – the last 4 have been on proposed revision to IAS 37 Provisions and Contingencies, IFRS 13 Fair Values, heavy Discussion about how much disclosure is “enough” and how much is “too much” and Discussion about IAS 8. There hasn’t been a 25 marker on Management Commentary since it started to become a fashionable discussion topic but, if it appears in Q1 as a part (c), then Q4 could be something like Continuing problems associated with convergence with US GAAP or maybe a discussion about the move to re-introduce “prudence” as a content of The Framework

For quite extensive information about current issues, log onto and read www.iasplus. It’s long and detailed, but you’ll get a good idea of what’s happening in the accounting World

Please Note

Tips should not be relied on – they are only intelligent guesses.

Their only purpose is to give you suggestions for topics to concentrate on in your last few days of preparation. Do not exclude other topics from your overall preparation.

Examiners Recommended Reading

“International GAAP 2006″ – Ernst and Young LexisNexis

International Financial Reporting Standards (IFRS) Workbook and Guide: Practical insights, Case studies, Multiplechoice questions, Illustrations: Practical … Multiple-choice Questions, Illustrations Abbas Ali Mirza, Graham J Holt, Magnus Orrell. Wiley (2006)

These books are recommended by the examiner . If you are having problems with a particular paper, or if you want to do extra reading out of interest, then you might them useful.

The most efficient way of obtaining them is from Amazon in the UK.