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I’m taking P2 this December and I want to ask, is it wise to study on my own or is it better I take classes.
Second question is I plan to use the Kaplan study text and BPP revision kit, is this ok or should I just stick to one tuition provider’s study text and revision kit?
P2…self study?, no dear. Attend classes. I use BPP and I find it okay. Its a matter of choice which publisher to use.
Thank you Jenny, I’ve decided to take classes but really not sure whether to continue to use BPP or switch to Kaplan
I am by location constrained to take p2 by self study, I had passed p1 and p3 by self study. Please advice me on how to make my slef study work for p2 ?
My advice would be, do not fall into the Question 1 trap. Question 1 is a case study worth 50 marks, 35 of those marks will be for preparing either a consolidated P&L, SoFP or Cash Flow. Do not spend a disproportionate time swotting up on those at the expense of the rest of the paper just because the computation has a high mark allocation – you’ll be setting yourself up for a fail if you do.
Q2 for 25 marks will be discussing the accounting treatment of 4 or 5 unconnected scenarios.
Q3 for 25 marks is much the same idea as Q2, but will focus on a particular business type – it’s known as “the industry question”.Q4 for 25 marks is on current issues, and could be anything really (remember that “current” issues could be something that’s been going on for years such as a new standard on Leases). This question will have a single theme to it rather than the differing scenarios in Q2 & Q3. You need to look outside your study texts to do well in this question – articles in student accountant, and IASplus website as examples.
As you can see, most of the paper is about discussing accounting treatment of things, so devote plenty of time to getting to the know all the examinable standards. There’s quite a lot of them, so make sure you know at least the core standards that are examined time and again. It’s doing that, that will get you through this exam rather than focussing on the 35 marker in Q1.
I failed this exam in Dec 2012 with 36, largely for focussing too much on swotting up Q1, and I doubt I’m alone in that. For June 2013, I changed my strategy to the one I’ve just outlined above, and passed with 61.
Best of luck !
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Thanks for ur advice.
you dont have to Worry about P2,the most you can do is to attempt paper without preparation.
believe me!! ACCA is only passing students whose papers was not good enough.
but if you attempt exam and think of a 70+ marks you will surely fail it,believe meI studied P2 on my own and passed first time. My advice is to practice lots of questions over and over especially those key areas and learn your IASs and IFRSs. The key is question practice. Dont get boggeg downor scared by the size of the text book. I had a BPP text book and never bother to open it. I just used the LSBF videos that i got online. If you can lay your hands on the video. They will surely help.
The key to P2 is standards. Ensure that you make the best attempt to learning and understanding your IFRSs. The rest is group accounting and ethics, which will seem like a piece of cake once you have mastered the standards.
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hey buddy-michaelf
whr can I get videos u mentioned?
Thanks
Candidates taking the forthcoming exams take note
Do not get distraught by failing one or two exams and feel dishearten. ACCA exams are tough and some exams really require Genius to Pass. Eg P3, P4, P5 and above. Nonetheless, there is an exam that you do not really need to put in effort just only need to answer 1.5 questions and you would sure PASS.
This exam is P2 Corporate Reporting which I felt with an insult and humiliation which rightfully I should FAIL this exam. I had performed extremely horrible. Part A of consol I did not answer 3 adjustments. Ethical questions was answered out of point. Section B even horrid,my answer did not synchronise to the requirements. I was expected to fail this exam badly say 30 marks, in contrast I was awarded a PASS with some Unbelievable results. Amazingly, I even heard people pass this exam with CONSOL or Section B unattempted.
Conclusion’
This exam which I CAN conclude is the shameless and silly exam whereby a sure guarantee pass due to examiner wanted to maintain his position and compel to pass people even answers are extremely sub-standard. Candidates taking this SILLY and shameless exam PLEASE DO NOT ATTEMPT CONSOL or Section B. JUST ANSWER 1.5 questions. WORST! SUBMIT EMPTY BOOKLET, THIS IS AN IDIOT EXAM JUST PAY AND GET PASS.?
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Thanhs for your helpfull advice!
I am also doing self study. I am capable as it is just a matter of working hard, but due to stresses of redundancy and family illness i have hardly looked at a book.
If you are self studying, you can resit, you only lose the exam fee!
Does anyone have a link to document listing the syllabus areas that have appeared in the P2 exam over the past few years? I was going to type this up myself but thought I would check if one already existed as tehre is one for P3 on this site. Thanks
Hi thanx for the advice. I would like to know what do you mean by 1.5 questions?
Just like to echo michaelf’s advice – ‘practice lots of questions over and over’. It’s the very best thing you can do!
I’ve been finding the ACCASimplified (https://accasimplified.com/) books really helpful. Like michaelf, I bought the BPP text book also and never opened it… reason I’m recommending the ACCASimplified ones are these books just present lots of short-form questions, so I can focus on one topic at a time and rattle out dozens of questions every evening after work rather than do one big one.
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