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I’ve just called up ACCA and they said P2 in post-June will be the exact same in terms of the exam paper, exam time and syllabus, and its literally just a name change. Can anyone confirm this please? Thanks.
That’s not really the case – the exam length is the same and the knowledge required is broadly the same, but the style of question is different. See the specimen paper here:
Notice the difference from P2 past papers? There are 4 questions, all mandatory, and every question part starts with “Advise”, “Discuss” or “Explain”. No longer will there be huge questions where you just calculate a consolidated SOFP/SPL – now the emphasis will be on advising and explaining WHY you treat things in a certain way.
Hi.
I have BPP P2 Study Text + Practice questions book for exams up to JUNE 2018.
I won’t be able to sit June exam, and was planning on sitting SBR in September.
But I can’t afford buying new study material right now. Do you think I can use my current study text and update my knowledge on the web regarding new IFRS’s and the new exam format?
Thank you in advance.
Kay
Not sure if there are any new IFRS in SBR. I think your approach is sensible, remember SBR is more discursive so focus on this kind of questions in your exam kit to start with rather than big 35-mark consolidation questions.
The only new examinable doc for INT exam (see https://www.accaglobal.com/gb/en/student/exam-support-resources/professional-exams-study-resources/strategic-business-reporting/examinable-documents.html) is ED 2016/1 Definition of a Business and Accounting for Previously Held Interests, which is relatively minor.
Hi
What about the duration, it still 3 hours right?
also i have old BBP (i did my first try in december 2017) , i can use it right? following the new examinable do (INT version)
i will be setting in september exam and i freaked out for a minute when i saw the new name.Many thanks in advance.
Yes, the duration is still 3 hours 15 minutes.
Although the knowledge required is the same, the question style in the new exam is a bit different, as I said in my earlier post. Therefore you could use the same textbook but I would suggest getting a new revision kit.
You need to be practicing the new style questions and not practicing big consolidation questions.
@misak1989 said:
Hi everyone.Could anybody send me SBR reversion kit by email.
Thanks in advance
No. If you want the revision kit you must buy it, unless you can find someone kind enough to give you a physical copy for free. Sharing electronic copies is illegal, unethical and against the rules of this forum.
@kim2311 said:
The only new examinable doc for INT exam (see https://www.accaglobal.com/gb/en/student/exam-support-resources/professional-exams-study-resources/strategic-business-reporting/examinable-documents.html) is ED 2016/1 Definition of a Business and Accounting for Previously Held Interests, which is relatively minor.So, ED/2015/8 IFRS Practice Statement Application of Materiality to Financial
Statements and ED 2015/3 Conceptual Framework for Financial Reporting are not examinable for INTERNATIONAL version?Thanks in advance
Hi,
I need some help with SBR Specimen paper 2, Question 1 A i. Basically I am trying to work out the carrying value of Chandler. The examiner calculated NCI using the proportionate method, and as far as I am concerned, NCI does not take any goodwill when using this method.
I was under the impression that to calculate the carrying value of an entity, you take the year end Net Assets + Goodwill + Profit. Impairment is than calculated Recoverable Amount less Carrying Value and since we are using the proportionate method, 100% impairment goes to P/L.
The examiner calculated the carrying value is calculated differently and the impairment amount was not fully taken to the P/L but only 80% (which is the controlling part of the business).
Can someone help me please ?
Thanks in advance.
Hi,
Hopefully this makes sense:
You’re correct saying that proportionate means NCI don’t get any goodwill as it’s only based on the % share of the net assets.
When calculating the carrying value you assume that everything is based on being 100% because in the group accounts you add across 100% of the subs figures. So when the you do the carrying amount you have only added across the 80% that belongs to the parent (as the goodwill you previously calculated is for the parent only). So you need to gross that up to reflect the full amount – which would be the 51*(100/80).
Once that’s completed you have the 100% impairment, but because you would only record the goodwill of 51 – the parents share – you now need to take the impairment figure of 25.8 and amend to be only 80% of the 100% to show Hill’s stake.
Hopefully that made sense and I haven’t repeated what you wrote!
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Hi.. I am planning for 2019, either March or Jun sitting.. And am new to SBR as I did P2 back in 2015 and subsequent haven’t touch it.. I understand there are some new IFRS changes e.g. Revenue from Contracts, Leases, etc.. Can anyone advice if I could just use opentuition notes & lecturer videos as my only sources to self-study instead of enrol with any education institutions?
Great appreciate your advice.
LK
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