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I cant remember anything from the other papers will this hinder my preparation for this paper. It is one of the three I have left.
Yes, it certainly will not help if you have forgotten everything!
Try going quickly through the OT course notes for F7. Q1 in P2 is worth 50 marks and is heavily based on consolidations. On courses we revise the basics of consols – it takes half a day – quarter day reminding students of the F7 consol workings and then the second quarter doing the example Agne and Dace.
Only then, in the afternoon do we get into the deeper stuff required for P2.
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Remember that P2 has an average of 65 marks based on accounting standards. Q2 and Q3 are ‘mixed transactional’ based on the list of examinable documents. Q1 is a consolidation but around 15 of the marks are based on accounting standards.
A number of the standards are new at P2 but the F3 and F7 standards are examined consistently. You need to get back up to speed with the F3/F7 standards – particularly core are:
IAS 16, IAS 38, IAS 18, IAS 10, IAS 12, IAS 37, IAS 17..
Don’t forget the basics of IAS7 and the framework is key too….
Hope that helps
Regards
Clare
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Hi:
Its crucial that you remember F3 and F7 concepts. You need to realise that P2 builds upon the concepts of F7 and subsequently P2. I suggest you go through the OpenTuition notes of F3 and F7 within a day, and start with P2 the next day. There isnt a lot of time left now, and P2 is quite lengthy. You need time to practice. Good luck.
Sadaf
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