*** P2 June 2012 Exam was … Comments and Instant Poll ***

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  • Avatar of admin
    admin
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    Post your comments about June 2012 P2 exam.

    ?How did you do? What came up? How did this paper compare to previous exams?

    Vote in our Instant Poll


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    faraimapurisa
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    not bad


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    beau1111
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    ?


    Avatar of smidsy
    smidsy
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    Q.1 Simple group with 2 subs
    Q.2. (4X5marks) mixed – looked appealing, but the Pensions scared me off
    Q.3. Mix
    Q.4 provisions

    I really hope that it was correct to approach Q4 by discussing contingent liabilities, cause thats what I did.

    Overall, I found the exam very fair.

    I was very tempted to do Q.2, but I had planned to do Q.4 and had practiced it, so stuck to my guns.

    If I approached it properly(contingent liabilities & their problems), then I passed. Otherwise its a close call.

    Considering what I knew is Dec’11 exam, and got 45 %, And what I know now, I should pass.


    Avatar of stasi
    stasi
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    Was Q1 a Balance sheet or income statement??


    Avatar of stasi
    stasi
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    Any step acquisition or disposal of sub?


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    deanogerrard
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    @stasi said:
    Was Q1 a Balance sheet or income statement??

    Why are you so eager to know?


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    razraz
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    @smidsy said:
    Q.1 Simple group with 2 subs
    Q.2. (4X5marks) mixed – looked appealing, but the Pensions scared me off
    Q.3. Mix
    Q.4 provisions

    I really hope that it was correct to approach Q4 by discussing contingent liabilities, cause thats what I did.

    Overall, I found the exam very fair.

    I was very tempted to do Q.2, but I had planned to do Q.4 and had practiced it, so stuck to my guns.

    If I approached it properly(contingent liabilities & their problems), then I passed. Otherwise its a close call.

    Considering what I knew is Dec’11 exam, and got 45 %, And what I know now, I should pass.

    Here in uk the exam is still running. I just came to toilet. Where did u give ur exams man


    avatar
    Anonymous
    • Topics: 1
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    Go get your paper done first man

    @razraz said:
    Here in uk the exam is still running. I just came to toilet. Where did u give ur exams man


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    chavo
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    @razraz

    Seriously? From the toilet?


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    graceyao42
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    Much better this time. CSOFP for Q1 , Thank God not CSOCF,

    I did Q1,Q2, Q3. Not much information for IAS37 so I didn’t choose.

    Wish me good luck and to all of u! Thanks OT, really helped me a lot!


    avatar
    blamy0317
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    q1 (a) CSFP including a 80% sub, a step(5%+55%), a jiont operation, a PPE revalue then impair and substance over form (b) ifrs 9 derecognition (c) ethic ‘window dressing’
    q2 (a) ias 17, (b) ias19, (c) ifrs 2, (d) ias 37 and ias 10
    q3 (a) ifrs 13, ias 40, ifrs 3 and ias 12, (b) ifrs 9 and ias 39, (c) ifrs 9 and ifrs 10
    q4 not attempted but all about ias 37 and its ED
    these are standars i used, can’t guarantee right


    Avatar of vmngoc
    vmngoc
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    I think it’s attainable. I have not prepared well (just 4 days before the exam) so did not do it well. Hope next time the exam is fair like this.

    Q1 is consolidated finiancial position (35marks)and the ethic when they sale a land before the year end with option to buy back. Q2 is about the various IAS (buy and lesase back, defined benefit plan, others I can’t remember now). Q3 is about the treatments if consolidate (financial instruments). Q4 is about the ED on provisions.


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    graceyao42
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    FYI as much as I can remember:
    Q1 CSOFP, sub & piece meal 15%+55% adjustments: joint operations/ PPE/ Trade receivable……. / ethical
    Q2 4 sub questions almost forgot
    Q3 3 sub question GW/ asset acquisition/ “…….


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    alpeshr82
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    • Topics: 3
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    I thought it was hard but fair.

    I was surprised at Question 1, it felt a little too straightforward. Hope I didn’t make silly mistakes.

    I did Q2 and 3. I found 3 very difficult for some reason. I hope I answered the question correctly.

    I think 2 was ok. I did it first so cant remember much about it

    I can’t tell if I passed or failed, but I just feel calm about the whole thing, so I think I gave a good account of myself


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    adelina218
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    Q1 is sofp was ok, first sub acquired 3years ago, paid dividends 2M to parents last year.
    sec sub was step acqusition.
    notes 3 is about Joint control
    notes 4 is about receivable4m to factors 3.6. risk reward still remain.
    notes 5 about PPE with imp loss
    6, about sales and lease back, its loan!!!

    Q2 Mix contains pension , provision, …
    Q3, really messy, goodwill impired relate to change of deferred tax,
    hold a sub 70%( a share and B share). NCI and interest hold by parents account based on B share , interest paid for B share cumulated if its no profit.
    .
    also about fair value measurement about investment proporty.
    Q4 is 25 marks about provision. shocked!!!!!!!!!!!!!!!!!!


    avatar
    adelina218
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    Q1 is sofp was ok, first sub acquired 3years ago, paid dividends 2M to parents last year.
    sec sub was step acqusition.
    notes 3 is about Joint control
    notes 4 is about receivable4m to factors 3.6. risk reward still remain.
    notes 5 about PPE with imp loss
    6, about sales and lease back, its loan!!!

    Q2 Mix contains pension , provision, …
    Q3, really messy, goodwill impired relate to change of deferred tax,
    hold a sub 70%( a share and B share). NCI and interest hold by parents account based on B share , interest paid for B share cumulated if its no profit.
    .
    also about fair value measurement about investment proporty.
    Q4 is 25 marks about provision. shocked!!!!!!!!!!!!!!!!!!


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    adelina218
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    question 3 was really hard, but i hope i can get some marks.


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    garygood
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    The person who was browing and commenting on this site on a toilet break while taking his/her exams is telling porkies. Here in the UK, I’m told, you are escorted in and out of toilets and your pockets are checked to see if you’re carrying anything. In any case who in their right mind would do such a thing! Going to the loo is bad enough, but then wasting time like this is ridiculous.


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    rvrvrv
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    When it said it had charged the 50m investment in sub to OCI, did you have to make an adjustment?

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