June 10 Exams – Paper P2 was … Post your comments here

@faithleona said:
the key to passing P1 is to master the IAS in and out and remember that every aspect of the kit is important. I believe the paper ws a rather fair paper.

So the key is to know all the IAS and every aspect of the kit inside out. Thanks for the tip!!!!

Even if I had spent the last 6 months learning and doing nothing but P2 I’m still not convinced it would be a done deal to pass this exam. There isn’t enough time in the exam to do Q1 with the care needed to avoid errors and go back over your work – even if you know how to do all the computations!

Q1 was different as there was the partial disposal of a sub subsidiary….adjustmennts were more or less straight forward…as for the purchasing of the bond….i guess it was a financial asset as opposed to a financial liability..
i did not interpret Q2 to be about SMEs…
i too hope i get 50%

It was totally totally a disaster 🙁
Q1 is vertical group with disposal sub( Associate & still a sub). but it is required to the CSOCI which I have no idea about it but I am quite familar with the CSOFP.
Q3 is hedging accounting
Q4 is leasing which i was expecting for SMEs.

how could this time to be so “Hard”? and bad wording?felt hopless………

No matter how hard a paper is, it is about exam technique. I did section B before section A. Allocated 1.8 minutes for every mark and made sure I did each question in the allocated time. I then went to Section A and did question 1 b first and left the part a (IS) for the last hour. Did not stress too much because I had at least covered 65% of the paper. I totally ignored the adjustment for financial instrument completely due to time pressure and thought it was only worth 3-5 marks. Made sure I did the PAT & OCI attributable to NCI AND Parent to gain a few marks. The best way to be on top of the game is to have the exam technique right…These examiners know how to fool us and thats why they put lengthy questions in Section A so you can spend loads of time on it and before you know it you are marked out of 50 marks only because of the time pressure. Thought I should share what I know and sorry if it is a bit obvious to some of you but lets hope it will help others.

Best wishes everyone!

man q1 was horrible while q2 q3 was ok.so only q2 q3 could save me…………..

I guess paper wasnt dat bad

it was very bad but I manage to do gud 4 passing I guess pray 4 me

but datz sure pass rate will be reducng substantially frm 58% to into 30zzzzzz diz tym

Someone sent me this article today. It was published in May 2010. Yes, one month before the exam. In any case I wish I had seen it before the exam, it might have helped me with Q4! Guess we can’t only depend on Student Accountant…

https://www.accaglobal.com/members/publications/accounting_business/CPD/leasefuture

btw Exam results are out on Monday 23 August 2010

I can not really remember but I answered q1,2 and 3. Of course there is nothing about “management of earning” in study materials maybe in ACCA Archives.

I thought that exam was quite difficult. Qnt 1 was very poorly worded and it took me quite a lot of time to disect the information given in additional info. Regarding the Management of Earnings qnt, I dont even know where to start. It looks like it took everyone by surprise including myself.

Can I request everyone to provide their feedback (on the ACCA website) on the P2 exam, and you never know it may work in our favour.

goodluck everyone for your results.

Thanks

Mush

fyi…the graph on this page [url=https://https://opentuition.com/articles/polls/june-2010-acca-exams-instant-polls/?utm_source=OT+Members&utm_campaign=b549272753-29_June_Newsletter_2010&utm_medium=email]Opentuition P2 June 2010 Exam Poll result[/url]

is wrong for P2, it suggests that 35% voted for “it was ok”. However, they voted for “hope for 50%”….the picture would then look much worse…

My only hope is that the examiner reduces his expectation and threshold for a pass when marking our exams….

Epic Fail for me. I was very disappointed when I saw the paper. I was fairly confident going into the exam as I had a good knowledge of all the material and especially the past exam papers. I think the approach in asking the question are ridiculous because in real life situations its completely different. I know I know the material, but when the questions are fucked up the way they have been asked as they have been here its a disgrace. Its a bloody accountancy exam, I would need a PHD in translating poxy english to pass this paper. Why not get to the point when asking questions using accounting english??????

Hi,

I did not like the exam but kept going. I did Q1,Q2 and Q4. The SOCI was expected but I thought the examiner could still come up with a Cashflow statement, well that’s what I would have preferred. I did something for all the adjustments. Has anyone found the holiday days bit covered in any of the texts?

I like everyone else did not know what earnings management was but went down the route of window dressing and reliablilty and comparability, so hope for a few marks there. I have not found earnings management mentioned in any of the texts but it is in Claref’s book.

Q2 surprised there were no real figures to discuss, just hope again I get some marks.

Q4 my weakest I think, did what I could.

I kept going and answered 3 questions so could do no more, still don’t feel it will be enough, just have to wait and see.

I read somewhere else people were ringing one of the national offices to complain about the paper and being told to put their complaint in writing as it may make a difference to the marking.