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Different people have different strategies. I can’t speak for p3 but for p2 I found it effective to focus on the different accounting standards and how they are applied, as this helps in both section A and B.
For P1 and P2 I read the textbook cover to cover, and then furthered my notes by summarising the key points and stuff I felt would be essential for the exam
This is a new method of impairment called the expected loss model. It calculates impairment of financial assets sooner so the accounts are more prudent.
This model uses the present value of the difference between the two interest rates. So you’d use 4% as your basis for impairment.
So gutted this never came up in the exam.
Personally im not really looking over past q4s. Possibly something on revenue could be asked like dec 11. For q4 I’m focusing on IR, impairment of financial instruments,revenue, leases and agriculture
I had asked a similar question and mike had replied saying that they always examine new standards added to the syllabus so ias 41 should come up.
Thanks Mike, I’ve still to look over agriculture but I’ll need to make sure I’ve got it nailed!
Cheers
Yeah its examinable for the first time so its hotly tipped.
If you go on the IAS website there is a guide to the standard.
Good luck
Financial assets that are solely equity based and not held for trading are held at fair value through other comprehensive income.
Financial assets that are derivative based are held at fair value through p&l.
1) SS i believe should be consolidated. P has control of 64% of SS, both directly(40%) and indirectly (80% x 30% = 24%)
2) not too sure. I think maybe S is just an associate so shouldnt be consolidated.
I’ve seen other qualifications other than the diploma, I was just wondering if I would get any.
So the fact that the majority of people are taking 2+ papers contributes to the low pass rates? I’m hoping I’ll be okay with one at a time.