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Hey guys, I’ve got exemption for F7 and i plan to do P2 March or June sitting. I did F7 in Year 2 and don’t remember much of it now. So how do i go about preparing for P2, will P2 lectures and notes cover the topics of F7 as well or what?
Yeah well it was 2 years ago , i was good at consolidation got an A in university in the exam but obviously the ACCA level differs. So what is your suggestion, should i go though the F7 lectures & notes of OT or just start with P2 lectures and notes directly. Also what’s the acronym ALP, ( Learning Partner i’m assuming)?
If F7 was sometime ago go back & familiarise yourself with it.
Some of the consolidation stuff at F7 like PURP doesn’t get tested at P2 but you need to know the basics such as the workings, W1 – Group structure, W2 – Net assets of subsidiary & so forth.
However you can’t pass P2 on consolidation aline, knowing the accounting standards will.
The open tuition lectures will be sufficient to pass well however you can buy specific books from ALPs also that take you through consolidation from basic to advanced & a summary of the accounting standards.
Finally Q4 of the exam is on current issues requiring you to have a critical awareness of the accounting standards & what is going on in the accounting world.
Reading the technical articles, iasplus website, acca website as well as understanding the principles of the accounting standards & being able to evaluate them.
Again, you seem to have plenty of free time post qualification………