Jun 2014 P2 Study plan

Hi

I am studying the ACCA DipIFR which i think is the same content as P2.

I have done a considerable amount of prep already as i was intending to write in December, but have started re-doing my notes. Am at IAS19 (employee benefits) stage with lots of questions to ask if you are interested in starting a group.

What time zone are you in and how far have you got in your preparation so far.

regards
Dean

Hi Tuli

Thanks for responding. Can you tell us a bit about yourself, what u studying, where you from etc.

I am from South Africa so time zones may be different.

Should we post our questions to each other here or on the DipIFR forum.

Regards
Dean

Hi

I’m also interested in joining. I’m in the Netherlands so GMT +1.

I’m sitting P2 and P7. I did some studying for P2 last year but will start my studying from scratch.

I did the Certificate in IFRS last year and when I looked at the diploma the syllabus looked very similar to P2.

Hi Skhumz

I don’t have an IAS19 question, but do have an IFRS9 (FI’s) question if you interested. If you are using BPP test, then its on page 201.

When calculating the finance costs on a Deferred Loan Note issue, we compound the interest each year making the next years interest more as a result. BUT when its a Debt Instrument we don’t. Is this because , with a debt instrument is assumed, the borrower actually pays the interest out rather than letting it add to the capital?

Regards

I am interested.

Hello its Hassan from Pakistan GMT +5. I am also interested

Hi guys, has this study group already started?

If so, I’m interested in joining as well.

Thank you.

Hi Dean,

Based on my understanding of debt instruments under IFRS 9 a Debt instrument can only be amortized (compounding of interest) if it meets the tests below :

1)BMT ( hold the financial asset to collect the contractual cash flows rather than to sell it for its fair value) or the ….

2) CCT test(contract triggers specific dates that are solely payments of outstanding principal and interest).

All other debt instruments must be measured at fair value through profit or loss (FVTPL).

I don’t have the BPP text yet but ill go look it up tomorrow in the library and get back to you. For now i can only assume the debt instrument you are looking at does not pass the two above tests and is measured at FVTPL or using fair value option to prevent accounting mismatch.

Regards
Skhumz

Hi, I am definitely interested. Where do you live and what is your time difference. I live in the Caribbean.

Hi friends,
How you guys start to study this paper P2. Do you start from Group consolidation or trying to master the isolated standards first? I believe not many people will follow from head to toe. Please share your preferences.

Many thanks.

hello,
yes i’m in,

Thank you Dean for sharing. I think that way too. The way Open tuition lecturer started with consolidation makes me think twice. Maybe it is because Consol is the compulsory question and knowledge can be built upon F7 module.

All the best,
Logan