ACCA P2 Key to success


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.

Structure of the ACCA P2 paper

Question 1 is a compulsory 50 mark question based on consolidations (usually for 30 / 35 marks with the balance of marks 15 / 20 being allotted to
further parts – maybe 3 or 4.)

The other 50 marks are based on a choice of 2 questions from 3 each worth 25 marks

Questions 2 and 3 typically cover a range of IASs / IFRSs and involve rather more in the way of explanation and justification than in computation.

Question 4 tends to be a discussion question on a topical issue. Students are recommended to check out the website www.iasplus.com

Emphasis of the ACCA P2 exam

The examiner has suggested that any candidate facing P2 for the first time is well advised to practice with an F7 exam as an initial step in preparation
for P2. Clearly a thorough knowledge of the principles of consolidation is a “must” but, be warned, there could well be written elements in excess of 50% of
the exam with computational less than 50%

How to pass ACCA P2 exam

Use the OpenTuition ACCA P2 lectures together with the P2 course notes. Try to read a study text but again, be warned! I’m looking at this moment at a study
text with 851 pages in it. If you genuinely intend to read a complete text, you should have started last week!

Practice as many past exam questions as you can and don’t get depressed when you find that you are not getting any answers correct!

See also:

P2 Corporate Reporting Forums – post your questions to get help from other students

Ask the Tutor – P2 Exams
Paper P2 Syllabus INT/UK/IRL
P2 Examinable documents INT & UK
P2 Past exam papers INT
P2 Past exam papers UK
P2 Examiners’ reports

P2 Examiner’s approach interview 
P2 Examiner’s analysis interview 
P2 Examiner’s approach article
P2 Technical articles
P2 Pass rates

Comments

  1. avatar says

    Hi dear , kindly can anyone tell me what is the idea of subsidies rate , that mentioned in June 2013 Exam – Q1 CSFP – Note no “4” , related to financial instruments ? Many thanks in advance .

  2. avatar says

    Hello, Please can the past questions downloaded from ACCA website still be used. I heard there have been a lot of changes in the standards for P2 and it is advisable to use the updated exam kits. Please advise on which to use. Thanks

  3. avatar says

    dear admin…..I have cleared my f7 paper in june 2012 and now i am planning to start p2 paper for june 2013 exams….my concepts of f7 have become a bit out of practice due to a semester gap as i was giving other papers in dec 2012….so please advice should i start by revising my f7 concepts in order to understand p2 concepts which is obviously going to be time consuming or should i directly start studying lectures of p2 frm OT and will still be able to understand …please advise

    • avatar says

      I am in the same situation and I’m working as well, I don’t know if I would have time to get back to F 7 and start P2 while working and not having any classes or tutors for support.
      Really need an answer on this. Please Help !

      • avatar says

        there is no need to actually revise F7 … just buy up to date study text and revision kit and focus on P2 ….. just when you are preparing P2 and you find any concept difficult to understand then refer to the basic level of that concept , which is reading that particular IAS/IFRS in detail.

    • Profile photo of MikeLittle says

      @zeroun21, Start NOW – only minor changes to the December 2012 notes are planned – apart from a new / replacement chapter on financial instruments and an example on reconstructions of an individual company. I can’t think of any other major changes to the notes

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