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hello i need some help…. plan on starting p2 now to write in june. exempted from f7 but not familiar with the ias/ ifrs standards..didnt even know lifo wasnt allowed as an inventory valuation method under ias 2. i want to do welll in june exam…lets say 75 percent…its just for some personal gratification and knowing i did well in the paper… can anyone guide me on the hours i should put in per day until june and which shouldi start studying first…standards or start with the consol? thanks any tips will be greatly appreciated
Hi Joashbill,
My advice would be to spend at least a couple of hours each evening in the week, and then a lot more hours at the weekend. I’m presuming you’ll be working at the same time, but I could be wrong?
The consolidation is the key, and this is 35 marks of the paper. I’d spend my weekends doing these and make sure you’re strong on all 3 different ones. The March 2017 exam was a Statement of Financial Position, if that helps.
The standards are very important to learn, but also read the examiner reports and try and understand his style as it can be quite tricky to know what he’s wanting from you in the separate questions. I’d also recommend reading technical articles too, and grabbing hold of some F7 notes to get good at goodwill, PUPs, retained earnings, NCI etc as you’ll get a lot of working marks for the basics!
Good luck! It isn’t that nice an exam, but is definitely manageable with a lot of work. Hopefully I’ll get a positive result in April.
Cheers,
Andrew
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