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Hello Sir,
Before saying anything i must give you a HUGE thank for your tremendous efforts in order to help us with the study.I really appreciate your initiatives and believe people like you truly can make a big difference to the society.My question is what is the best advise you give to tackle P papers? Specially P2. I found that for me only bookish knowledge and exam kit is not enough,I could be wrong though.I am stuck with the THINKING in the exam within a very short time to answer the questions correctly.How could we develop our thinking efficiency?
Secondly the question no 4 in the december 2014 1st part was about the impairment tests.It was asking about the importance of some factors while conducting the impairment test.Now,I have read the indicators of impairments for any assets but how does this influence the quality of impairment test.How do we manipulate the impairment test plans if any of the factors indicate higher signs of impairment in any asset?
Thank You So much Sir for your time.
Thanks for the kind words 🙂
The only thing that I can suggest as a way to improve the efficient use of time is (you’ve probably guessed already) practice, practice and then some more practice.
Ideally you should get into the position where you are metaphorically inside the head of the examiner – you’re thinking like he does and even beginning to anticipate which way a question is going to twist and turn after reading just the first couple of lines.
Ok, you may never get to that stage, but practice is the key. 35 marks’ worth of consolidation should hold no fears for you as you enter that exam room. But the remaining 65 marks – an in depth appreciation of various IASs and IFRSs – will only come with extensive and repetitive practice.
And, if you’re aiming to do the exam in June 2015, then January is the right time to start. “But it’s more than 6 months away” I hear you say! Before you realize it, you will be walking into that exam room and you’ll recall this post of mine and say to yourself “I wish I had paid greater attention to Mike’s advice back in January!
Start NOW! Plan a schedule of work intending to start studying with effect from next Monday 12th January (give yourself those few last pressure-free days) and then stick to that schedule
And, of course, post any problems that you come across and I’ll see if I can answer them for you
Thank you so much sir,for your quick reply.didnt expect that.Thats really appreciating
You know in december 14 exam i already regretted for not starting early enough,so this time I am not letting that happen again.Thank you so much for the valuable advice.I will make a plan before this monday and will stick to it strictly.Practising,practising and some more practising.
And definitely i am going to annoy you some more times before the june exam 🙂
Have a nice time sir.Mike – Thanks for your helpful advise, and hopefully you will see more of me around OT 🙂
Aponwahid – Thanks for starting this thread. I have made a start with P2 from this evening 🙂
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