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Thanks alot.
Yes I was referring to currency future. But now I understand. For interest options the strike rate needs to be selected by looking at both premium and interest rates.
further I want to clarify whether we do all the adjustments to capital as well? for example say if there is amortisation we will add back to NOPAT. Do we add the total amortisation todate to the Capital employed as well?
Hi, I would say the best way to study P2 is practice. Let me conclude the other techniques as follows,
1. Learn the standards. I’m working for Finance department and it was normal for me to learn the standards. Do not skip any standard as anything can be tested in P2. If you feel difficult to understand IFRS then refer to IAS Plus website for learning.
2. Be aware about current issues in the world of finance. I read exposure drafts and other documents in the IASB website when ever I get free time. Current issues give 15 guaranteed marks on P2 and if you know you will get bonus marks for sure!
3.Revise.Sometimes the standard terms and content sounds very technical and simply Greek for me! So I revised each lesson many times as possible. You can use short notes which has diagrams, flowcharts etc.
4. Past Papers! Practice as much as possible. I did more than 10 consolidation questions under time conditions. Also marked them very carefully. And read all examiner reports to understand the key points from the P2 examiner. Additionally I read all technical articles from my tab in the office free times like during lunch.
5. Mocks! Make sure you face at least 2 exam standard papers before sitting the exam. This will ensure you are capable of handling the time pressure in this exam.
Trust me, P2 is not easy but it is possible to pass with good exam technique. And remember past paper practice is very important due to the time pressure. I was only able to write 90% of the paper due to this reason.
I would say F4,F5&F9 ( Do F4 atleast one month earlier. Also rememebr there are som similarities between F9 and F8 for example ratios etc. But they completely different in other terms.
F7 & F8 ( F7 is calculation and F8 theory. But there is core relationship. Audit is done to give an opinion on the Financial statements we prepare. So this two match perfectly
Do F6 last with P1 as it will combine greatly. P1 is a wordy paper and F6 is a typical number paper. But the approach for both papers are different because P1 needs more skills,knowledge and lot of practice. Also it is much important to to stress that P1 needs essential reading on current issues.
Hope this is sufficmt
