P2 INT tips – December 2012 sitting

Opentuition

Q1 Consolidated cash flow (35)
Environmental considerations
Or corporate governance matters
Or management commentary
Q2 various IASs / IFRSs eg earnings per share, revenue, borrowing costs, asset impairments
Q3 reconstruction of a single company
Q4 IFRSs 10, 11, 12 and / or 13

Kaplan Financial

Question 1: Group statement of cash flows plus ethics, possibly including inappropriate application of IFRS 10 and/or accounting errors.
Other questions: Content of Questions 2, 3 and 4 can come from any part of the syllabus.
Possible topics which may be examined include:
• Reconstructions.
• Employee benefits and share option schemes.
• Financial instruments.
• Foreign currency.
• Fair value measurement.

BPP

There will be 4 questions. The compulsory question for 50 marks will cover consolidated financial statements with adjustments on other syllabus areas, plus written parts, often in the context of accounting adjustments and ethics. You need to do two of the three 25 mark questions in section B of the exam, one of which is normally set in the context of a ‘specialised industry’ and one being a discussion question on current developments. Discontinued activities, acquisitions and disposals (SPLOCI and/or SOFP) or a statement of cash flows are possibilities for the consolidation part of the compulsory question this sitting, while application of the definition of control, management commentary, disclosures, fair values, improvements in performance measurement, conceptual framework or leasing are possibilities for the discussion question.

First intuition

Q1 Group question on disposals, piecemeal acquisitions or cashflow.
Ethics.
IFRS 13 Fair values – current issue.
Deferred Tax.
Share based payments.

LCA

Q1 Complex group OR group cash flows plus manipulation of financial
information and related ethical issues.
Q2 Case study on investments: IFRS10/11, IAS28(2011) & IFRS9/13 if Q1 is cash flows OR case study on deferred tax (IAS12).
Q3 Mixed scenario on accounting standards: IAS19/21/24 & IFRS5.
Q4 Essay on application of Framework’s “faithful representation”.

LSBF

Group comprehensive income (or cash flow).
Financial instruments. Deferred tax. Pensions Non current assets.
The usual mix of standards in the mix question.
Joint arrangements, fair value or hedging as current issues.

best of luck with exam!
ansi