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Hi Hong
It could be any of them from the P2 examinable documents list. I can’t narrow it down to a list shorter than that. But very little of the exam is dependent upon deep and detailed technical knowledge of the IAS / IFRS
If you should happen not to know the technical disclosure requirements, there will still be loads of marks as to how the matter should be audited. It seems to me that you’re concentrating your worries on a small corner of the picture rather than considering the problems associated with the picture in its entirety
Thank you for replied…
I have another question here, I found that there are two article regarding forensic accounting in acca’s website, which one should I refer to?
Thank you sir for replied…
I’m new to P7 and Dec will be my first attempt, I trying to cover all the P7’s syllabus and planning to focus on past year paper on Nov.
There are ONLY 49days left till exam, and I have to give half of the remaining days to P6 as well.
Can you please advice me how can I pass P7 in this coming Dec’a sitting? I wish NOT to retake!I will cover all the syllabus lately by end of October if everything is going well.
Thank you for your times.
Appreciated.Read! Past exam questions and answers. Over and over again. Don’t try to learn, don’t try to memorise. Just soak in the style, the way obvious points are made, the subtle nuances in the questions that ask for “matters that you should consider” as distinct from “matters that you should expect to find on the audit file”
Just read and read and read
Then, pick a question and simply PLAN points (within planning allocation time) to see if you have managed enough markable points to score a healthy pass
(Planning allocation time is calculated as “number of marks / 2 = number of minutes needed to plan”) Basically, you need to be thinking of a new point to include within your answers every 30 seconds
Repeat this exercise right the way up to and THROUGH the exam itself. Planning is really important WITHIN that exam room
OK
Interesting to read that you wish NOT to retake. I wonder how many students positively DO wish to retake!
Absolutely correct, there is no ones wishes to retake…
Thank you for your valuable advices.
Will be back to you if I have any further questions.Hope to bring you back a good news on the day result releasing.
Thank you sir.
Hong, I’m already looking forward to hearing that good news 🙂
I shall have a celebratory drink in your honour!
Hi Sir,
is IAS 18 Revenue has been replacing by IFRS 15 Revenue?
What is the important of IFRS 15 for the purpose of P7?All of it! Make sure that the company has followed the 5 step model and that IFRS 15 is being properly applied.
You may as well ask me what’s the importance of any IAS / IFRS in the context of P7! They’re all important. One of the matters the auditors must pay attention to is to see that the company is properly complying with standards! They refer to that point in the audit report!
That is quite a bold approach, considering IFRS 15 is not yet applicable in Europe. so we are under the assumption that IFRS 15 (and ifrs 9 as a matter of fact) is (are) applicable in all cases in the exam (unless otherwise stated)?
Yes, particularly since it’s specifically identifies as being an examinable document and IAS 11 and IAS 18 have been withdrawn and are no longer therefore examinable
Hello Sir,
I’m here to sharing my joy with you as promised.
I has passed P7 in first attempt. It’s all your advises that make me succeed!
Thank you very much…
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