ACCA P2 Exam Tips by Kaplan for June 2016
Q1 Groups and ethics: Q1 is so important to passing P2 that students must thoroughly practice a wide range of consolidation questions. However, after a break of two sittings, it would not be a surprise to see a consolidated statement of financial position examined.
Q2 and Q3: Revenue, provisions and non-current assets held for sale.
IAS 41 Agriculture is new to the syllabus and should be considered highly examinable.
Some areas that have not been tested recently, or in less detail than expected, include:
– IFRS 10 and control.
– Share-based payments (IFRS 2).
– Impairment (IAS 36).
– Deferred tax (IAS 12).
Q4 – Essay-style question: Integrated reporting/extant accounting standards and documents – IAS 36 Impairment of Assets or the Framework.