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Hello sir,
I couldn’t find hedging or the term derivatives in the P2 course notes. Do I have to rely on the article on hedge accounting for that, or is it mentioned in the notes with a different terminology? I searched with the search option on Adobe reader…
Great lectures BTW for P2 and P1, I have been following you since F4 🙂
For those two mini-topics of financial instruments, I have left it to Tom Clendon’s and his articles in Student Accountant to explain.
Thanks for the compliments
Thanks sir…
I want to ask another question.
In the exam, if we have already made an answer plan in the answer booklet, but due to strict time allocation we are not able to expand it into the final answer, would it still attract credit from the examiner?I have always made answer plans and was able to complete the papers in the F series. The P series, however, seem lengthy so it’s a just in case question 🙂
Hi – if you stick to your time allocation, as indeed you must, and you find that you have no time to develop / expand your answers into proper answers, you should nevertheless be given credit for your plan. It won’t be full marks, obviously, but it will be credited.
However, this begs the question! If you are sticking strictly to your time allocation, then how come you have time for a plan, but then don’t have time for a proper answer! Your plan for a 25 mark question should take around 12.5 minutes and that leaves you with 32.5 minutes to write out your plan in proper form
???
Thanks again sir! What i meant sir that this is the first time doing lengthy case studies, while back in F8, 9, 4 and 5 the cases were just two to three paragraphs… thats why i wrote its a Just in Case question 🙂 We could pick out points from the case and write it onto the plan but still not manage to elaborate them as we have to move onto the next question…
However to overcome this thing, i believe we have to follow your usual advice, practice, practice and practice…
Sorry for the late reply
No problem about late reply but let’s get back to exam technique!
If you devote the correct number of minutes per question / part question to planning, then you surely must have enough time then to write out your points in proper sentences / paragraphs.
Number of marks (say 10 = 18 minutes) divided by2 = 5
5 is the length of time that you have to try to plan 5 separate points for you to include within your written answer
That leaves you with 18 minutes – 5 minutes planning to write out 10 markable points in the space of just 13 minutes left
And it comes down to DISCIPLINE (and loads of practice!!!!)
OK?
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