CAP 2 Financial Reporting

QueenV

Hi all

I'm currently struggling with financial reporting:mad:.It's soo broad!!!!!!!!
I sometimes look at my notes and wanna cry...

I just dont know want to do.I know exams is not till summer but I wanna get a move with things.

Any one have any tips on how to ace Financial Reporting or even study tips?

Any help will be greatly appreciated.

SL10

Its very broad but its basically broken down into two parts: consolidation and IAS's

I would say your best bet is to get some notes on consols- read up on IFRS 3 and IAS 27, 28 and the joint one. Then get on and practice as many consol questions as you can find. Usually the lecturers give you a consol pack with loads of questions.

Even if you make a start on this and get your head around it before study leave you will be well on your way cos as you are going through the questions you are also learning other bits and pieces.

then i would suggest making your way through all the IAS's that apply. I basically started at IFRS 1 and worked my way up to IAS 41 or whatever is the last one. I got the notes from the lecturer, put them in a folder, then on the front page of the sectin summarised the IAS/IFRS and the main points (accounting treatment and disclosures) and while doing this i made my way through Sandra Gleesons IAS question pack.

Hope that helps! Its not actually the worst subject to study cos alot of the time is doing questions etc. You will get through some of the IAS's quickly while a few others take a lot longer to get through. Then once you have all this done there is just really exam papers to look at. There are also some good questions in the book and toolkil

QueenV

SL10 wrote: »

Its very broad but its basically broken down into two parts: consolidation and IAS's

I would say your best bet is to get some notes on consols- read up on IFRS 3 and IAS 27, 28 and the joint one. Then get on and practice as many consol questions as you can find. Usually the lecturers give you a consol pack with loads of questions.

Even if you make a start on this and get your head around it before study leave you will be well on your way cos as you are going through the questions you are also learning other bits and pieces.

then i would suggest making your way through all the IAS's that apply. I basically started at IFRS 1 and worked my way up to IAS 41 or whatever is the last one. I got the notes from the lecturer, put them in a folder, then on the front page of the sectin summarised the IAS/IFRS and the main points (accounting treatment and disclosures) and while doing this i made my way through Sandra Gleesons IAS question pack.

Hope that helps! Its not actually the worst subject to study cos alot of the time is doing questions etc. You will get through some of the IAS's quickly while a few others take a lot longer to get through. Then once you have all this done there is just really exam papers to look at. There are also some good questions in the book and toolkil

Thanks a mil:)

mrduffy

Hi queenb, would it be possible for you to share the financial reporting question and answer packs ?

Muzi5434

SL10 gave some very good advice there...
Additionally there is also exam technique, such as doing the whole question even if you don't get it balanced or whatever, there are a couple of marks going for the layout of IS, SOFP and SOCE so make sure you do them fully and same applies to cash flows and consildated accounts.
And best of luck

EveT

I have barry smith for FR, he is so bad, he reads from notes, is the other going doing it any better? Michael Tuohy?

Odats

EveT wrote: »

I have barry smith for FR, he is so bad, he reads from notes, is the other going doing it any better? Michael Tuohy?

Is Sandra Gleeson still doing any of the Dublin classes for FR (Cannot see her name on any of the timetables)IMO she's the best (had her for the last year of Prof 3 in Carlow (mind you small class with less than 12 at each lecture) and comfortably passed first time with 67%) and anyone I know who done the CAP2's with her had no problems either passing the exam .Her exam technique for consolidations is top notch, loads of Q&A packs and her notes are concise and to the point. If so try to get her or go to Margaret D'arcy on the Elevation timetable if you can.

I've had Barry Smith for two years when I was in college in DCU and didn't particularly like his lecturing style so I feel your pain.

EveT

Odats wrote: »

Is Sandra Gleeson still doing any of the Dublin classes for FR (Cannot see her name on any of the timetables)IMO she's the best (had her for the last year of Prof 3 in Carlow (mind you small class with less than 12 at each lecture) and comfortably passed first time with 67%) and anyone I know who done the CAP2's with her had no problems either passing the exam .Her exam technique for consolidations is top notch, loads of Q&A packs and her notes are concise and to the point. If so try to get her or go to Margaret D'arcy on the Elevation timetable if you can.

I've had Barry Smith for two years when I was in college in DCU and didn't particularly like his lecturing style so I feel your pain.

hey, no Sandra Gleeson isnt doing it. I heard she was brilliant. I think the Elevation class is very small and close, so would prob stand out like a sore thumb gatecrashing it!

Does anyone have Sandra Gleesons notes from last year? Am stressed out about FR!!

Odats

Hi Eve T,

SL10 up above mentioned using her notes so sending him/her a PM would help.
What I found a great help was to buy the ACCA F7 and P2 books ( I got the Kaplan ones) around €30ish on Amazon UK.
They cover consolidations very good and all the standards pretty well. Supplement these with the ACCA past papers for consolidations aswell as the CAP2 papers and you'll be grand.

As above the focus on this exam is primarily consolidation for the main question but you cannot ignore the individual standards.

Practice,practice,practice questions is all I'm afraid.

Best of luck and you have loads of time until June.

RT2010

Odats wrote: »

Hi Eve T,

SL10 up above mentioned using her notes so sending him/her a PM would help.

Does SL10 have Sandra Gleeson Cap2 FR notes or know where I might get them? Its my only Cap2 subject left to repeat from last year and I also find it tough. Have heard good things about her notes/lectures. I could PM if you would prefer.

Cheers

SL10

Hey guys,

I dont have the Sandra Gleeson notes cos i wasnt in her lectures. I had Michael Touhy I think. I do have the question packs for Sandra Gleeson though. (Tho they are from 2 years ago so arent up to date for the updates to the standards)

I know she did some really good consol notes (I got these off someone in work and only have them in hard copy so cant post them up- sorry)

I would recommend seeing if there is anyone who had her last year to get notes & question packs off (I think she thought Group 2 last year). Otherwise I can email on the Q&A packs

SL10

Oh also....last year my lecturer gave out quite a lot of the Sandra Gleeson question packs anyways.

leanne249

Hi I only have Question bank and solutions saved on my laptop from last year's Sandra Gleeson lectures. Hope it helps!
For Consolidation part we had Barry but his notes not useful at all.
We did with Sandra a good few consolidation questions at the end But unfortunately I only have them in hard copy.

redz11

EveT wrote: »

hey, no Sandra Gleeson isnt doing it. I heard she was brilliant. I think the Elevation class is very small and close, so would prob stand out like a sore thumb gatecrashing it!

You could watch it online though ... I'm actually watching one of hers online now, she's very good alright! Easy to listen to.

QueenV

redz11 wrote: »

You could watch it online though ... I'm actually watching one of hers online now, she's very good alright! Easy to listen to.

Which website can you watch video on?

redz11

QueenV wrote: »

Which website can you watch video on?

It's on the CA website, in the Student Centre ... just log in and click on Live Streaming at the left of the screen. All of the CAP 2 lectures are up there, as far as I know.

QueenV

Had a look and there's no video's up there for her besides I don't think she lecturing any of the groups this year!

redz11

QueenV wrote: »

Had a look and there's no video's up there for her besides I don't think she lecturing any of the groups this year!

Did you look in the CAP 2 folder?

QueenV

redz11 wrote: »

Did you look in the CAP 2 folder?

Yeah I did.

Cap 2 Financial reporting this year is lectured by Barry Smith and Michael Tuohy
The elevation programmed lectured by Margaret D'arcy

redz11

QueenV wrote: »

Yeah I did.

Cap 2 Financial reporting this year is lectured by Barry Smith and Michael Tuohy
The elevation programmed lectured by Margaret D'arcy

Yes.

The Elevation programme was referred to in the post to which I was replying.

The Elevation lectures are also in the CAP 2 folder.

QueenV

redz11 wrote: »

Yes.

The Elevation programme was referred to in the post to which I was replying.

The Elevation lectures are also in the CAP 2 folder.

Oh yeah grand, I misunderstood you so

Thanks

david

Deloitte have handy summaries of the Standards;

http://www.iasplus.com/standard/standard.htm

Hope this helps your revision.

KingEnda

Are the Chartered Grind School notes available on line? Do they have videos?
The lecturers there are ment to be very good on CAP 2 financial reporting but I dont fancy paying the extra for the service but will probably have to if the stuff doesnt sink in

EveT

KingEnda wrote: »

Are the Chartered Grind School notes available on line? Do they have videos?
The lecturers there are ment to be very good on CAP 2 financial reporting but I dont fancy paying the extra for the service but will probably have to if the stuff doesnt sink in

what grind schools are there? would def be interested in a FR one

EveT

redz11 wrote: »

You could watch it online though ... I'm actually watching one of hers online now, she's very good alright! Easy to listen to.

great idea! thanks

KingEnda

EveT wrote: »

what grind schools are there? would def be interested in a FR one

The Chartered Grind School seems to be the best of them. A few of the lads here went to it last year for CAP 2 FR with little or no knowledge and they speak very highly on how good the lecturer was. Not sure of the name of the guy
I am hearing that they are excellent for all the CAP 2 subjects