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Hi I passed my P2 Exam three years ago and have decided to sit P7 Int as my last ACCA paper. However, I am concerned about the accounting standards that are examined in P7 Int paper as i am not up to date with the standards. Would it be advised to go back to the P2 Accounting standards to refresh on these standards. How would the standards be examined in P7 is it just application in a audit environment or do i need to do calculations too say Good will, Leases etc. Are the accounting standards likely to be changed from Sept 16 to Dec 16. Many Thanks Rakhi
“Are the accounting standards likely to be changed from Sept 16 to Dec 16” – that one I can’t answer!
A refresher course through the Deloitte website IASPLUS will not harm your chances!
As for “How would the standards be examined in P7” I suggest that a quick glance at a couple of past P7 exams would give you a good idea of what to expect
Calculations are most unlikely other than there is always the matter of materiality (2 or 3 very easy marks available here) and maybe also comparison / interpretation of this year’s figure compared with the equivalent from last year
Any problems, as usual, post on here and I shall get back to you
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