*** ACCA P2 December 2015 Exam Results ***

Hi Zee,

I will be sitting for the exam this March, Any tips of how I can prepare it. I am getting problem with the IAS. I dont know how to tackle the questions on the IAS.

Can you please forward me your answer or the way you go through the IAS questions.

Thanks

This is the second time I’ve not turned up to write . I’m working towards March though …

I had to breakeven….anyways a pass is a pass. Three more

glad i’m not the only one 🙂

Yeah, I just can’t believe that I passed with 50%
Many thanks to God and ACCA as well !!!

How long to prepare P2 please? Thank you in advance for your help

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.

If you are talking regular classes, then cope up with the class
If you are doing it on your own then read the book thoroughly
I would suggest Kaplan text and exam kit
Go through the technical articles topic wise
Keep an eye on the latest technical article as one while question or a part of optional question will be tested from latest articles
Atleast It will take one and a half month to go through all this material
You should have pretty good grip on all types of consolidations, that will cover 35 marks of the paper rest of the marks are solely dependant on the knowledge of standards
You should try to memorize all the standards
After doing that go through all the kit questions related to standards
Main thing in the paper is that you should be able to recognise the standard in the question under exam pressure
If you are able to do that, you will do good

Passed with 50%!!!!!!! What a miracle P2 was deadly………..

Passed 68%. This was 3rd attempt. I would not say that Dec.2015 exam was difficult comparing to previous sessions. I expected that there will be foreign currency consolidation and IFRS 15 question. And they were in the exam!