Forum Replies Created
- Posts
Hi,
I’m a little embarrassed to be admitting this but here goes:-
I have look at the solution to this question however when I try to work it through, I can’t rearrange the formula of M&M prop.
Any pointers?
Thanks in advance
You need to download each module e.g go to the page for IFRS 5 then “Deloitte E-Learning on IFRS 5”.
Within the module there will be a learning section with scenarios and at the end there will be an assessment test.
I failed P2 in December whilst using the Kaplan book, not going to make excuses, just didn’t know enough.
This time round I have used the learning modules on the IASPLUS website, each module is downloadable and there is learning then an assessment at the end so I have learned all the standards (to a reasonable level) before even attempting the group questions.
I have now finished most of these modules and am going to learn the other issues which dont come under IAS’s e.g Group Restructures and the Ethics part this week then start tackling past papers followed up by Revision Questions.
Hope this helps.
Your exam entry fees will be astronomical!!.
Study wise though I’d definitely say that it’s possible provided you are able to highlight the key areas of study and learn them well.
Michael
Definitely!! (in my opinion).
Regardless of whether you’re going to be showing the workings or not, you still need to do them, I’m sure there would be no hassle showing them.
For example if it were a report you were writing then provided you highlighted that the section was for workings then you wouldn’t lose your professional marks, if it weren’t for the report section then I’d Definitely show them.
This is all my opinion though and what I would do in the exam.
Michael
I’d say the only thing you need to start again on is group consolidations, starting with f7 consolidations would probably make the transition to p2 consolidations that bit easier.
As for Accounting Standards you’ll be pretty much learning these all over again as at F7 you don’t need to know the standards too in-depth however at P2 you need to know much more about them.
Just my opinion of course!!
I am really in mixed emotions about the paper.
Q1 – Was okay with it, unsure regarding the system being upgraded & the relevant costs but I think i would have got at least 15 marks.
Q2 – Didn’t even look over Transfer pricing until last night, part a) was just a profit statement I think and part b) I simply restated the profit statement excluding inter-divisional sales which = lower profit and c) I missed out, I would hope for at least 7-10 marks (if my restate method was correct!!).
Q3 – WOW!!!! this one got me big time, never even seen anything on “budgetary control objectives” however i wrote a load of crap but wouldn’t be expecting more than 5 marks.
Q4 – very fair question, for the second part (learning curve) I changed labour costs to fit in with the learning curve, i’d guess again, around 10-15 marks.
Q5 – Simple calculations with a little bit of ABC at the end, I was quick at the calcs and had time to check and double check my workings, realistically I would hope and expect to get the full 20 here (unkess i’ve done something stupidly wrong)
All in all it was a fair paper however i’m a bit miffed at the budgetary control question, but lets’s be realistic, it was in the syllabus and creating a student uproar would get us nowhere fast.
If anyone disagrees with my methods, let me know 🙂
Couple of quick questions to everyone.
The variances Q, was that for purely calculation or was there a written part also??
The Transfer Pricing Question, Was the solution to do a divisional profit statement as it was then do another divisional profit statement excluding inter-company (as they were purchasing from outwith company)
I just sat the exam an hour ago and forgotten already!!!