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Hey guys,
Recently I have attended 2 papers F9 and P3. I really concentrated on my studies for P3 while not giving much attention for F9. Results came and I failed P3 with 44 and passed F9 with 58. Now I’m planning to give a break this Sep and start sitting papers in Dec. I also thought it would be better to sit the new P paper instead of P1 and P3, so I leave it to Sep 2018, so P2 left with 2 options papers. I will sit P7 since I work for an audit firm and I think because of that it will be easier to grasp. I will not sit P6, simply because there is no variant for my country.
As a result P4 and P5 are left.
I have read from the forums that P4 is a numerical paper, but there are messy calculations of hedge derivatives. The thing about hedge derivatives is that I don’t see myself using this in my future career and I don’t want to study it just for the sake of passing the paper. However I find myself very successful with numerical papers instead of wordy ones.
I have also read that P5 is mostly wordy paper. However, I have personal interest in managerial accounting/performance management and I have passed F2 with 80, F5 with 71. The wordiness of the paper may increase the risk of failing it, as it happened with P3.
Here are my queries:
1) How much can P4 get messy with the calculations of hedge derivatives, what percentage of the syllabus approximately those cover?
2) Is P5 really wordy that much, approximately what percentage of the points in the exam can be wordy?
3) Which one do you personally suggest?Any advice will be greatly appreciated
“The wordiness of the paper may increase the risk of failing it”
If you continue with this approach then anything with wordy material will be out of your grasp, you are asking for trouble. Even the numerical papers do consist of large wordy areas so you have no option but improve that area through past paper practice.
Also, P7 before P2 is somewhat unfavourable (not impossible!) but as you stated you are in an audit firm so I assume you have adequate knowledge of IFRSs required for the exam P7.
Do let me know why you have excluded P6 if you are so really good with numbers.
As far as your queries are concerned, you should ask the first two in the individual ask the tutor forums as the tutors will provide you with the accurate most knowledge regarding the syllabus details.
But your third query really surprises me! You should not be concerned what others suggest as optional exams are by nature options as per industries in which individuals work, or what passion they have eg. taxation, audit or financial management/performance.
You should be asking that question from yourself.I have excluded p6 because there is no tax variant for my country.
I went through the forum, checked out past papers, gathered up some info, finally decided to go with P4.
You are right with the third query. I’m thinking of moving on to the financial management after the audit role.
Regarding the wordiness, guess I will need to adapt and change my study/revision technique.
Thank you for the advice, you’ve been very helpful
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