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I self teach myself each module and I seriously struggled with F7 (although managed to scrape a pass) and I’m now so worried that my knowledge in F7 isn’t sufficient enough to carry me through in this module.
Can anyone tell me in terms of knowledge can I use the BPP text for p2 to study or will I have to learn everything from f7 again? I feel like I’ve forgotten it all!
This exam is terrifying me 🙁
All advice appreciated, thanks people
I took the F7 exam last June, and I thought it would be the first ACCA exam I would fail. I don’t know if you took the F7 last June, but it was very hard and many students found it difficult. Still I managed to pass which was a big suprise, so I expect the examiner was very liberal with the marking.
My advice would be just to review the consolidation of SOFP and I/S from your F7 studies. I’ve just started ‘groups’ in class, and we spent the entire day just doing a simple consolidation question you would see in the F7 paper – so just a bit of revision.
You are in a better position having taken F7 because the consoliation question will not be entirely new to you. The students in my class who have entered the ACCA through the degree route, have found it hard to adopt the approach we used in F7 – which is exactly the same approach you should use for P2.
So it’s not all that bad!Actually, I would suggest going through leases aswell. For P2, they don’t allow the straightline method in leases, though.
Remember impairment? CGU (cash generating unit), the method of allocating impairment to a CGU has changed. Now, impairment is allocated in thus order:
1. Goodwill
2. Tangibles
3. IntangibleThank you. I sat F7 last December! i cant really remember any of it to be fair, although things are more familiar. I’m kind of hoping that i can pick up my F7 knowledge again just from practice of P2 past paper questions? or will i be extremely lost?? at the moment im just reading reading reading…it might aswell be in a foreign language though 🙂 haha! roll on dec!!!
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