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Forget about text book for P2. Seriously don’t even open it.
1. Master IAS IFRS (I suggest making your own notes and learning most important things about each IAS IFRS)
2. Master Consols and Cash Flows
3. Master Ethics (always as a small 6-8 marker as part of Q1)
4. Master Technical Articles
5. Master IAS IFRS (yes again its super crucial to pass exam) Consolidation is only 35 mark the rest is all about IFRS/IAS, current issues, articles. And the calculation within is maybe idk. 15-17 marks – rest is also about IAS IFRS.
6. Focus on past papers and make as many questions as possible – you will find at least few for each IAS/IFRS.It’s really really a lot – if you are a full time study then yes it seems doable. If you are full time emplyee it might be a struggle.
Sea goat has said it all, just want to point out also that for the group, there’s a 99% chance a foreign subsidiary wouldn’t come out as it came in December 2015, the next possible group question i’d expect would be on the group Statement of Financial Position, to me this stands a 70% chance of happening as the last time it was tested was June 2015.
the other qroup question could be the Statement of profit or loss, again i believe this stands a 30% chance of happening as it was recently tested in september 2015 diet.
one more thing ” MASTER YOUR IAS/IFRS” let it be your nursery rhyme when you wake up and go to bed and of course here come the usual advice practice past questions and you’ll be fine.
i hope you find this post useful.Agree. with D.O.A and seagoat. Cash flow was also part of December 15 so try not to waste too much time on this for consol.
i personally recommend statement of financial position.
Seagoat and DOA
Key advice is to master the IAS IFRS
Anyone got a summary document with the IAS/IFRSDo you think that cashflows or FX subs are likely to come up in March ? Comments above a little conflicting
thanks a milCan ang one share the notes for ISA/IFRS.
I’m self studing and finding but problem to understand them a bit, Is any one can help the issue .. @
Xishi@hotmail.co.uk
ThanksCan any one share the notes for ISA/IFRS.
I’m self studing and finding but problem to understand them a bit, Is any one can help the issue .. @
Xishi@hotmail.co.uk
ThanksFirst, go to ACCA website, check examining documents to see which IAS/IFRS are being tested.
Second, go to https://www.iasplus.com/en/standards/ias/ias36 This website contains basic knowledge of IFRS.
Third, start with Consolidation question because it always come up in the exam. Check Guidance from Examining Team from ACCA website.
Fourth, master the remaining questions if you get time.
Can anyone tell me if IAS18 is examinable in Mar 2016 with the coming in of IFRS15?
IAS 18 is no longer applicable in march 2016, it is no longer applied as far back as september 2015,
I have gone through the examiner’s report for P2-UK and it seems the consolidated statement of cash flow hasn’t been examined since December 2013. Huh, that doesn’t seem to be a popular area but a potential suspect to appear in March 2016. The last time a consolidated statement of profit or loss and other comprehensive income was examined is in SEP 2015 (before that in June 2014).However, consolidated statement of financial position has frequently appeared on P2 exams with some variation.For example; December 2015 required the preparation of a consolidated statement of financial position of a group with an overseas subsidiary. The Jun 2015 paper question required the candidates to prepare a consolidated statement of financial position with purchase of two subsidiaries and the sale of another subsidiary. Dec 2014 featured again preparation of a consolidated statement of financial position for a group with a steep acquisition, unrecognized contingent liability, negative goodwill and an asset hold for sale. The June 2013 question required to prepare a group consolidated statement of financial position. The group was a complex group with questions about the nature of the group holdings and the dates on which control occurred. Hope that helps.
Interestingly enough though; the sample September/December 2015 question featured the Dec 2015 question on consolidated statement of financial position of a group with an overseas subsidiary so you wonder why they are so quite about the consolidated statement of profit or loss and other comprehensive income from the Sep 2015 sit. Are they implying anything here…wait and see but better to keep an eye on that.
Hello ,
Please please please can anybody tell me about remaining lectures of P2 from ch 17 to 32. As u can see they are not available at opentuition.. What does that mean ? 🙁IFRS 15 has already been examined in Dec 2015, so there is no way to return to IAS on Revenue.
Concerning March exams, i have a feeling that Cash Flow would now come out, it always comes out when no one thinks of it !
Master IFRS is the way to pass P2, like someone said, this is your bed time reading, wake up call, etc.. read everything on IFRS, do not limit your knowledge to only documents issued by IASB, that’s too limited.
Small questions may include Defined Benefits, Tax but hey that’s a vast wide area !
Remember:
* * * IFRS * * * IFRS * * * IFRS * * *
BREAKFAST * * * LUNCH * * * DINNERHi Martin,
I have a summary of IFRS issued by BDO, it excludes IFRS15 and IFRS16
I can email you if you wantFrancois
Hello,
I’m good at consilidations and cash flows. At the moment i am improving my theoretical knowledge by learning all the important aspects of IFRS/IAS, i am simply going to the iasplus.com website and taking notes on the IAS’s.
I can see that section 2 and 3 are mostly based on the treatment of IAS’s, so i take it i am taking the right approach? I’m choosing to ignore the study guide on IAS’s as IASplus.com website proves to be more informative.
Let me know if you think my strategy is ok.Hello Sophie,
You say IASPlus contains basic knowledge of the IAS’s but isn’t all you really need to form an answer in the exam?
Your feedback is appreciated.
Please may I have the IFRS summary ( Email rus_dammit@hotmail.com)
Hi Francois,
Kindly help me with the summary of IFRS which you said you have. I am preparing for June 2016 diet. My email is niyifadeyi2000@gmail.comThanks.
Here we go again, the human vultures… Why don’t you try and google Ifrs summary BDO? You will find a useful pdf file called Ifrs at a glance…Honestly, you are annoying, people…
Does the text book not have the IFRSs with illustrations? Surely this is helpful and all in one place?
Therefore studying a chapter or 2 then hit all relevant questions is an approach?
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