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Thread: p2 tips

  1. #1
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    Default p2 tips

    Tips for current issues by Miss. Kerry Jones:
    Lease accounting ED
    Revenue recognition ED
    Financial instruments - new impairment model and hedge accounting ED
    Proposals for a new accounting framework DP
    OR
    A mix of all of these in a convergence with US GAAP question
    NOTE:-The IASB and the FASB have now realised that there is no liability for renewal options in leases unless there is a significant incentive to give a constructive obligation
    WORK , WORK , WORK WITH HONESTY AND FAITH IN YOURSELF

  2. #2
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    IAS19,12,28,complex group,foreign subsidiary important too
    WORK , WORK , WORK WITH HONESTY AND FAITH IN YOURSELF

  3. #3
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    A SOFP has been examined for in the last 4 examinations (both exams in 2011 and 2012) perhaps it is time for a GSOCI (QBD) or a statement of cash flows group accounting question. In either event, it is likely to include a change in group structure (acquisition and/or disposal of subsidiary in the year).
    Accounting issues possibly examined within this question include: Financial instruments Joint arrangements The ethical issue will normally focus upon an incorrect or inappropriate accounting treatment in the group accounts question. As IFRS 10/11/12 are relatively new, it could focus upon determination of whether one entity has control over another, and whether an appropriate accounting treatment has been applied.

    Q2 and Q3

    Possibly a focus upon P2-only reporting standards, and those which require the exercise of judgement. Accounting issues possibly examined here include: IAS 19 Employee benefits IFRS 2 Share-based payment IFRS 9 & IAS 39 Financial instruments including hedging Entity reconstructions including accounting issues

    Q4 Essay-style question

    Current Issues:
    Hedge Accounting (Highly Expected)
    Amortization and Impairment of Financial Assets
    Improvements in IFRS
    Lease
    Revenues
    Investment Entities
    & Management Commentary (Highly Expected)
    WORK , WORK , WORK WITH HONESTY AND FAITH IN YOURSELF

  4. #4
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    This is Great useful Tips.. interesting post Thanks.


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