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Hi,
Has anyone managed to pass P2 with 6 weeks preparation. I’ve got the material and was going to wait until June but thinking of trying it in March. All I have done so far is read the BPP passcards twice.
Has anyone managed to get this exam in 6 weeks and what approach did they take?
I work full time but will probably be able to take a week off work and will have evenings and weekends for study.
Hi Gavin,
I sat and passed the P2 exam in December 2016.
In my opinion I think P2 is achievable in 6 weeks if you start now. Did you do F7? I was exempt from F7 so had to spend a little time learning the basics first.
Best approach is to make sure you learn the 3 different Q1 formats. This is SOFP, P&L or cashflow as one of these are guaranteed to come up. It is risky to try and guess which one of these may come up. P&L came up for the first time in a while in December 2016.
Don’t fall into the trap, however, of spending all your time learning the consolidations and not focusing on your standards. The standards make up the majority of the questions in P2.
My approach was to try and do every question in the BPP revision kit which helped to get an idea of the structure and kind of questions which may be asked.
All the best with your studies.
Thanks David. I sat F7 last June and sat P7 in Dec so covered most of the standards in P7.
Was thinking of getting straight into questions as the BPP text is over 600 pages so would prob take me a few weeks just to read it. I found the passcards gave you a good grounding in prev exams as the BPP textbooks are fairly bulky.
I done 3 questions from the exam kit last night so I’m thinking if I could average 3 or 4 a day and read all the tech articles I would have two weeks before the exam to revise. Might be winging it a bit but there’s always June if things go pear shaped.
Thanks again,
GavinHi Gavin,
I am sitting P7 in March so we have done our exams back to front haha.
Yes, honestly I never even opened the BPP textbook. Key to P2 isn’t regurgitating the information from a textbook. It is about applying the standards to the relevant scenario. That is why I believe the revision kit is the best.
Key thing I learned from P2 is to use a subheading for each point to help breakdown your answer.
All the best for P2. They call it the beast and I can’t say that I disagree lol.
David
I’d imagine you should find P7 straight forward enough after P2 .. I skipped the text book on it too. I thought the key to it was the examiners comments after each question – give them what they want. I made a mess of Q1 but it wasn’t that hard. They try to pack everything into Q1 and time was a killer but I recovered well on the other 3 questions and there was plenty of handy marks on the paper. Best of luck with it.
Yes P7 is just trying to get used to the correct way of writing from what I have seen.
Hopefully you get a SOFP in the March P2 exam as they are the most straight forward. The optional questions are just pot luck at times especially the current issue question 4.
All the best with your studies mate and hope you get through P2 first time.
David
Same to you. Just on the standards, did you use IASPlus to go through summarys of each or just rely on the questions in revision kit?
Hi Gavin,
I used the BPP lecture notes to learn the basic rules of each standard at first as well as doing their online lectures.
Once I learned the basics I found the revision kit was more than enough to see how each of the standards can be applied in different exam scenarios.
David
Also I would not fall into the trap of learning the standards word for word. It is more important to grasp how each standard would impact on the financial statements.
The majority of the marks in section B are for discussing if the treatment in question is correct or not through applying the standard. From what the examiner says in his reports people fall into the trap of explaining all the rules of the standard with little application to the scenario. This gains very few marks.
David
Top man. Cheers for that David. For P7 keep and eye on Mike’s responses on Ask the Tutor – he gives plenty of good advice.
Thanks mate.
You got many left to do after P2?
I plan on doing P6 in June and hopefully be finished for good ha
I’m going to try P2 and P3 in March and if they go to plan will finish with P5 in June. That will be 9 done in 5 sittings but this is the first time I’ve tried the quarterly sittings. Started looking at P3 mid Dec but will be winging it a bit on P2. Hope your plan falls into place for you.
@david1988 said:
Hi Gavin,I used the BPP lecture notes to learn the basic rules of each standard at first as well as doing their online lectures.
Once I learned the basics I found the revision kit was more than enough to see how each of the standards can be applied in different exam scenarios.
David
Hi Mr. David,
How are you? I hope you are doing good. Well I just wanted to request you that if you don’t mind can you share a PDF copy of these BPP P2 lecture notes with me. I would really be extremely thankful and obliged.
Regards.
Hassan.
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