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Lecture have been uploaded working through the question1 in the June 2015 Paper P2INT exam.
https://opentuition.com/acca/p2/acca-p2-june-2015-question-1/
Thanks that’s great. Could you possibly upload some more (older papers) as I have found them to be of great help.Keep up the good work, we all really appreciate it.
Hi sorry for this, iam using only the lecture from open tuition and exam kit from kaplanfor P2 can you advace me is that enough for me to pass P2 please
Thanks
Hi Kihani,
Yes that is more than enough. Don’t forget that you have the past exam questions on the ACCA website too.
Thanks
Hi tutor am a new member, will like to be part of this, this is my third attempt on P2
dec will be my 6th attempt at p2,with 2 months to go to d exam can these classes get me a pass?
Hi,
The lectures will definitely help but you need to focus on question practice under timed exam conditions.
Given the number of times that you’ve attempted the exam there mus be a fundamental problem in your knowledge and technique.
Have you used OT before?
Thanks
On 1 October 20X4, Kutchen acquired 70% of the equity interests of House, a public limited company. The purchase consideration comprised 20 million shares of $1 of Kutchen at the acquisition date and 5 million shares on 31 March 20X6 if House’s net profit after taxation was at least $4 million for the year ending on that date. The market price of Kutchen’s shares on 1 October 20X4 was $2 per share and that of House was $4·20 per share. It is felt that there is a 20% chance of the profit target being met.
What is The Double Entry of this Contingent consideration?
hi
refernce Q1 june 2015
question regarding Adjusment of Fv of Net asset:Mach= Post acquisition profit $3 attributable entirely to retained earning.
*why is the entire amount attributable to retained earning?House=Post acquisition profit of $8 , to retained earning $6 and to OCE $2.
*again please could you explain in what way this is being allocated?Contingent consideration:
DR Investment
CR Contingent consideration (liability at fair value)Mach has no other components of equity in its accounts and so all the movement must be to retained earnings.
House has movement on other components of equity from the information in the question so the rest of the movement in net assets must come from retained earnings.
The key is working #2
Thanks
Thanks a lot for the video Sir Chris! This video has definitely cleared a lot of confusion.
Sir Chris do you think March 2017 exam will be SOFP, SPLOCI, or SOCF?
God bless!
Sir,
Please I don’t know why the share price in the examiner solution is $63 instead of $43 in yours; also the OCE in the examiner’s solution has 22, 0,8, (10.8), and no (10) .
Secondly, in the finance lease working, do we have to go through all the three stages
Thanks for your help
Hi @P2-D2
Can you pls tell me whether my June 2017 text book would still be good enough to sit for the December 2017 Exam? Are there any radical changes in the text book for the December 2017 sitting?
Thank you,
Kanishka
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