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Thank you. I read the article…it is a little bit more clear…but still confusing…
I have to agree that first question was manageable in terms of time and requirements, but still I could not balance and I did mistakes with the new 10% acquisition. In my mind was coming only gain and I calculated the gain which si totally wrong, but anyway…..
question 2 industry question was quite horrible, first time when I read it I was thinking of skiping then I saw the last question and I could not remember to many things about financial instruments and I thought the second question is a better option for me. The topics were quite mixed here: IAS 37, Research and development costs (I still cannot remember the standard number), IFRS 3 and IFRS 1
question 3 to me looked like Alexandra is a very stupid girl: first of all she messed up with the employee benefits, then she recongnized totally unacceptable the revenue and she discloses to related parties only what she thinks it should be not what the standard requires. and finnally that bond was on the top of everthing: anyway, I am not sure waht was tested there, maybe substance over form? anyway, the legal contract was to repay the loan and accrued interest, so i do not think that it should still be in long term liability. for me it sounded like the waiver is just for the interest part but the legal clause in contract should be first. I am not sure about it.
Overall, I hope I will get the passing grade…..it is a huge area to be tested in P2, and I have practiced some questions and watch videos here, but I feel that i still need some practice….I feel like these topics should be digested over time with a lot of practice, meaning actually being involved in the process….I found the Deloitte IAS plus tool with scenarios quite good for preparation of the exam too.
Let’s hope for better…yes it makes sense now. I was thinking that is has something to do with the time but in my head was sounding only years from the examples that I practiced and I didn,t thought that could be applied to months as well….so foolish….
thank you so much for your quick reply.
If I could I would have come for your lectures….I really like your humour from the video lectures posted here.
Have a nice day!
