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A write off. Girl behind me was sighing so much I thought she was going to run out of air. I’ll treat this as a mock and go again in December
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Compared to the December paper which I want to forget about as soon as possible, I think this paper was really good.
The first consolidation question was not that difficult and goodwill was straightforward.
The only thing that would make me fail is probably Part B. I think that there is not enough reading time given for this exam, 15 mins are just about enough for me to finish question one and then I’m wasting time reading in the other part when I should just be writing.
Considering they want to abolish operating leases there seemed to be a lot of operating leases in this exam, come on now…
I was hoping that a Cash Flow Consolidation will come up, its so mechanical, but yet again there was none. I wonder if they will ever have another one of them?
Anyway, to conclude, Part A was ok, Part B was hard in things I did not revise that much but ok in things I knew.
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I prefer SFP rather than IS. But it was ok.
I love q4 was so good.
And did q3. I fund it easier. Better than Dec exam . I failed by 48. hope to pass this one- Topics: 0
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It was a consolidated income statement and OCI
I thought it Q1 (SOPL) was better than Dec14 question on SOFP…
But questions 2, 3 and were harder I think. A mixed bag from last time.
And as usual time management is a problem.
I could not quite grasp and concentrate on Q3 which I attempted, but I hardly did any of it.
Resit in Dec I think, but it was good attempt as mock exam as somebody else posted.
Not many people attended this exam in Sep, but it was good to have it so soon, and I am sure I will be there again in December??
NO Jigsaw….
It was Consol P&L.
One was a subsidiary changing to an associate.
The other one was an associate changing to subsidiary.
And I think there was a joint venture too….
wow im sitting p2 december, since the last two p2 q1 were all about step acquisitions: control to non control and non control to control, now that will leave foreign groups or sonsolidated cash flow for december 2015
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Q1 Consolidation was easier than the one in December (although I did much better on the one in December)…did not finish all the adjustments and did not fill the proforma with the final figures…
did part b and part c and was running out of timeatempted q2 part b and c….not sure abou the correct treatment tough
attempted q3.. but only a small part of it because again… I was running out of time.I think overall it was easier than the one in December (failed by 45p)…but time management was definitely a problem… studied a lot….don’t know what to do any more….I feel completely frustrated by this exam.
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Q1 Consolidation was easier than the one in December (although I did much better on the one in December)…did not finish all the adjustments and did not fill the proforma with the final figures…
did part b and part c and was running out of timeatempted q2 part b and c….not sure about the correct treatment tough
attempted q3.. but only a small part of it because again… I was running out of time.I think overall it was easier than the one in December (failed by 45p)…but time management was definitely a problem… studied a lot….don’t know what to do any more….I feel completely frustrated by this exam.
Was hard to stick to time! Q1 was okay – hopefully got a good percentage of marks as 1B and 1C were okay. I attempted Q2 which was okay but some hard parts and Q4 I wrote as much as possible but didn’t get time to complete the question.
The full disposal was tough I thought as you didn’t have the FV of NCI at disposal date nor did I know whether to take into account the FV adjustment as part of the NA they gave.
If you want some comfort, you are not the only one.
I did study a lot these last weeks, though I am coming to the conclusion that practice is the answer to the P2 exam, especially to solve the time management problem. But I always prefer reading but maybe it is not enough. I need to practice a lot.
And I think I will have to resit in Dec15……. Not so sure I get a pass, don’t feel as if I did enough??- Topics: 0
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I feel it was hard. Section b was not bad but Q1 part b was tricky for me. I got confused whether to consolidate the associate on the proforma or not. Thought I was prepared for the exam coz I put in my best. Hoping for 50 and anything above will be a bonus.
Q1 part b I think you had to consolidate BUT ONLY FOR 6 MONTHS….
The disposal was, if I remember correctly, from 01Feb15…..
So you consolidate ONLY Aug14 to Jan15 (i.e. time-apportion for 6 months).
The rest will be share of profit from Associate.
had no idea of what the reclassification of financial asset means in Q4, so I chose Q2 and Q3. just wrote down everything I know about those definitions, and IFRS. inventory, tax, pension, PPE, impairment, lease. Hope to get a pass!
There was some tricky parts to this exam.
I learned everything I could about ifrs9 in advance and it paid off with question 4.
I cant remember if I did q2 or 3….I did the one with the deferred tax issue.Was question 4 about the new FA Impairment? or FI classification (i.e. amortised cost or Fair value with Cash Flow characteristics test and Business model test).
But then 4b was talking about the new FA impairment with expected credit losses.
I was very confused.
————————————–In question 1- how did you calculate the impairment for the S subsidiary when the Net assets at the Y/E were not given?
I did NA at the acqn (75)+ plus goodwill (i think was 14)+ RE for the year (8)= 97 then less the recoverable value 92= 7————————————–
I thought question 2b was disduised as leases but actually was about CGU imparment for Leases A & B.I just stopped by to read the comments, passed this paper long ago but praying for you guys
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