ACCA P2 June 2009

patg

Hi all

does anyone have any exam tips to suggest for the upcoming session. Consolidated cash flow forecast was widely forecast last time round and true enough came up.

I am not attending tuition this sitting so haven't been privy to any lecturer's insights.

Thanks.

NB all advice about a thorough revision of the entire syllabus is a given, however I would still be interested in any suggestions regarding likely exam questions that may have been made.

Evertonia

Consolidated Cash Flows had been tipped for last 4 sittings, so had to come up some time!!

Lou08

Hey

My lecturer said that from reviewing the past papers he thought a disposal/deemed disposal consolidation question was very likely!!

mrfuncle

Usual clearwater topics are always to be expected Pensions, SBP's, Financial Instruments etc

Deffered Tax was on the Pilot paper as a full 25 mark and hasnt been examined yet! Everything else has so that should be an area of focus

Also, Disposals of subsidiarys is due soon as it is a popular topic with the examiner

Hope thats some sort of help

annalucia

Consolidated Cashflow came up in last sitting so I doubt it would come up again, but who knows, concentrate on the standards though as they make up the bulk of the paper.

patg

Some good ideas there. Thanks for sharing them.

All my weekend free time quickly disappearing between here and June!!

SA1

Anyone got any tips on how to actually approach the actual exam? ie Is it better to maybe start with a section B question and use the 15 minutes reading as extra time for that to give a more detailed answer or are you better off starting with the 50 marker?

Climber

Anyone got any tips on how to actually approach the actual exam?

FYI - I sat this exam for the first time in June 2008 and got 56%. By far I reckon this is the hardest ACCA exam, so bare this in mind when attempting your answers i.e. you probably (definitely!?) won't get your consolidated cashflow, balance sheet beast to balance.

Start with question 1 first, remain calm, break it down into the relevant sub questions (part (i), (ii) etc) and focus on each part accordingly.

Be RIGID with your time i.e. 1.8 minutes per percentage point.

The obove point is so important that I need to say it twice. BE RIGID with your time. If a part (iv) question is worth 7%, that's worth (7X1.8 = 12.6) 12.6 minutes of your time. If after 13 mins you havn't finished it MOVE ON to the next question.

Do not underestimate the potential for easy theory marks. My estimation is that the combined marks available for pure theory questions is between 25-35% over the entire paper. That's more than the bone crushing consolidation working is offering in part (i) of question 1!, think about that.

novocaine1

i have to say, i've never been as fooked for an ACCA exam as i am for this one.

Consol questions i wont even talk about...

On the standard ones - i Have read and learned all the standards and done a load of questions with the aid of the back of the book, but whenever i go to do a question myself my answers are way off and i dont pick up on half the standards im supposed to....

what approach are any of you taking to these questions?! im seriously thinking of just learning a load of question 4 type material and hope to get a nice question on that cos the standards are just not clicking with me at the moment

SA1

I completely agree with you about the FRS questions. When you review the answers they can seem so obvious but actaully trying to identify them when doing the question is SO difficult. I think easier marks could be picked up by getting into the frame of mind where you actally spot key terms in the information and associating them with the appropriate FRS ie. see the word provision and think of FRS 12. Problem is actually being that tuned in on the day! What a killer exam (T.T)

NORZ

I've been studying the UK variant materials from BPP (am in Sydney) but am sitting the Irish variant next week.

Hoping there are no unprecedented curveballs thrown as regards standards; I'll be screwed otherwise!

Good luck to all.


<edit>
As regards tips, I would not be too surprised to see a consol. P&L with disposal as Q1
</edit>

maybeso

Suggested exam approach -

Spend the 15 mins reading through the Q which deals with loads of different standards. Jot down all of the standards which you think of on the paper as you read through the narrative. Then answer this question first.

Then do the Q1 (for which a Consol P&L is due).

Then make your best attempt at the last question which usually covers just 1 or 2 standards.

Best of luck!