05-20-2011, 01:18 PM
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Member
Join Date: Apr 2008
Location: Paki Land
Studying:
F4
Posts: 51
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P2 ACCA Exam Tips for June 2011 by Kaplan
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P2 Corporate Reporting
June 2011 ACCA Exam Tips by Kaplan
Section A
Group statement of financial position.
This could include mistreatment and/or misclassification of items to be included within the statement.
This may include, for example, accounting for impairment or accounting for a foreign subsidiary.
There is occasionally inappropriate recognition or measurement of items which may need to be
corrected as part of completing the consolidations.
It could also include dealing with a change of group structure (addition or disposal of a subsidiary, or
dealing with foreign exchange gains or losses if there is a foreign subsidiary.
Reporting standards examined may include:- IAS 16 property, plant & equipment IAS 17 leases
- IAS 36 impairment IAS 38 intangibles
- IAS 37 provisions Employee benefits
- IAS 12 tax IAS 39 & IFRS 9 financial instruments
Section B
The conceptual or current issues topic is difficult to predict as there are so many currentdevelopments.
Questions dealing with IAS GAAP and US GAAP convergence, together with other topics,
Typical IAS/IFRS knowledge which may be required for Section B content includes:- Non-current assets Held for sale and discontinued activities
- Impairments Provisions
- Tax Employee benefits
- Share-based payment Leases
- Intangibles Financial instruments
- Reporting financial performance Revenue recognitions
- Events after the reporting date Entity reconstructions
Use the above ACCA EXAM Tips as important areas to cover but remember that no one knows what can come in your P2 June 2011 ACCA Exam, apart from Graham Holt (P2 examiner for June 2011). Your safest bet is to achieve good syllabus coverage in your revision, as your examiner aims to do in this sitting of P2 Corporate Reporting Exam.
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