How to pass P2?

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    Anonymous
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    Hi Mike,

    Hope you can advise me on whether a revision course in class or online would be more beneficial for me?

    Just to give you some insight on my past performance on ACCA Paper P2, I have failed this exam 3 times and each time I have ended up either with 45 or 46. I have attended (kaplan lectures in class) Full course in 2010 December Sitting and a revision course in July 2011. But I am not sure where I am going wrong?

    There seems to be no radical changes to the Syllabus. Mainly on the Consolidation balance Sheet (Proforma) workings?

    Many thanks and I look forward to hearing from you soon

    As you can see I am very much confused on what approach to take study i.e. study myself, take classroom revision course or online?


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    MikeLittle
    Keymaster
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    Sad to hear this sorry tale and, unfortunately, you’re not alone in this.

    I cannot recommend a course of study :-( What I can suggest is that you ask yourself whether, as a result of your various course attendances, you genuinely believed that you had understood substantially everything taught / covered.

    If you believe that that was the case, then there would appear to be no benefit in repeating course attendance. The only exception to that is if there is an alternative tuition provider in your area – in that situation it may be worthwhile attending just to hear the same stuff but delivered by a different tutor using different words and putting points across in that tutor’s own individual style.

    Otherwise, as I always recommend, have you honestly worked through all the questions from the last 10 exams since the pilot paper which was issued in early 2007? The consolidation exercises are all based around the basic steps of consolidation so, having mastered those steps, 35 marks in question 1 should be a source of a good solid start to your December attempt.

    Questions 2 and 3 are invariably “multi-IFRS / IAS” questions and emphasise the importance of a thorough knowledge. Graham Holt is faced with asking questions on an established set of Standards so there is a degree of repetition in what he asks but, obviously, you need to be on top of the gang of four IFRS10 – 13.

    Start now reading the website IASplus to get up to speed with current issues.

    And practice, practice, practice.

    And when you’ve done that 3 times, do it again

    and again

    Read the exam technique articles on this site for both P2 and for “general”

    In addition, there are a couple of articles in Student Accountant from about a year ago written by two separate members of the P3 marking team. These are good articles by real-life markers who have given their own views on what causes students to fail. Although they are P3 markers, their comments are applicable generally to all the ACCA papers.

    they say pretty much what I have always said except their planning time per question is shorter than my recommendation. Other than that, I believe we sing from the same hymn sheet!

    And good luck


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    Anonymous
    Participant
    • Topics: 17
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    Hi Mike,

    Thanks so much for your useful advise.

    With regards to your question above, I did majority of questions from Kaplan Exam kit rather than doing the exam papers, as I thought exam kit shows exam questions.

    For section b – how much theory should we write and how much should be the application?
    6 marks for 6/7 points = does that include theory or just application?

    Kaplan answers show both theory and application which is impossible to achieve under exam conditions


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    mukolwe fxc
    Participant
    • Topics: 0
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    Great advise Mike thanks & particularly many thanks for the recommending the site IASplus.

    Regards


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    MikeLittle
    Keymaster
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    Hi Anonymous, 6 marks = 6 / 7 relevant correct markable points, whether it be theory or application. the basic premise is the same, throughout all your exams. The only real exception is where there is, say, a six marker part question and there’s loads of things to say ( beware that you have correctly interpreted the question! ) In that situation it MAY BE the case that the marking scheme is 1/2 mark per relevant point

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