p1 and p2- hows the study going?

frogstar

Just wondering how people are getting on with the above subjects?

im doing p2 with liam doran, hes very good and is flying, so far not a huge jump from f7 but a lot of theory which im surprised at

home studying p1 and can't get into it. So busy in work and not spending enough time at it,

Planning to get stuck into the past papers next week rather than reading text book

hows everyone getting on?

keano2012

ya doing with p2 with liam as well. seems to be a lot of stuff in it. havent really knuckled down with study just yet...too early i think. Important thing now is to just keep up with him. Glad where out of the standards and onto consolidated stuff- was losing him a bit with some of the standards! how do you find his lectures?

frogstar

I find him good, I think he flies through the topics which is good and bad but really makes the subject make sense.i wasn't keen on davefor f7.

haven't started to study either but will try and make an effort this week. Its mad to think we are nearly finished lectures and onto revision.

Ive done home study so far apart from this and f7 and I really do see the benefit of class. Dont think id be able for p2 at home.

its such a huge syllabus. It all makes sense in class but I forget it as soon as I go home!

keano2012

ya i like his lecture style. didnt mind dave tbh but can be a bit all over the place. Big difference b/n dave and liam though! ya think i will sit down and have a crack at the questions this week too! i know revision soon enough. scary alright! think if was to do a mock exam now...i would get under 5%!

shaydy

Has Liam shared any tips yet, standards he feels have a good chance of coming up? Cheers

keano2012

shaydy wrote: »

Has Liam shared any tips yet, standards he feels have a good chance of coming up? Cheers

no. but not sure if it will matter anyway to be honest. Last 5 sitings have thrown up a consolidated SOFP. Cant predict that.... know everythign and u'll be grand.

thefa

I copied a list for prioritising standards that I have attached to this which I used when I passed the second last sitting. It was based on frequency of the standard appearing in exams in questions (inc Q1) and what the feel was for that sitting. Red being the priority to cover when studying and know thoroughly, then orange, then yellow to spend a small amount of time to just know the very basics. May be of help to someone.

It's very important to get good at Q1. For the adjustments you need to have covered the standards. It's something that is only asked in a number of ways and there's plenty of questions to practice.

Tauriel

shaydy wrote: »

Has Liam shared any tips yet, standards he feels have a good chance of coming up? Cheers

He has tipped IFRS 5 to come up in some shape or form when he was going through that.

shaydy

mustang shelly wrote: »

He has tipped IFRS 5 to come up in some shape or form when he was going through that.

Cheers thanks for the heads up

Sundance_Kid

Doing P2 this December, however missed a few of the early classes due to being away so of playing catch up.

Had exemption from F7, so some of the basics I would have done years ago were not fresh when it came to P2.

Really struggling to get into it.

For question 1, do people just recommend doing plenty of past questions and questions from the exam kits?

Wouldn't be too surprised if we get a cash flow this sitting.

frogstar

Yes q1 is all about practice. From f7 I learned to do the easy adjustment s first and if struggling with another to just move on and forget it.

Liam doran reckons it will be an soci for q1 but who knows! Most of our revision is sofp but I suppose all the adjustments link in.

Apart from going to class I haven't done much. Have to knuckle down this week and get started

Sundance_Kid

My lecturer in Griffith seems to think it will be SOCI, had a revision weekend there recently.

Really going to struggle with the questions 2-4, is there any particular standards that are must knows?

keano2012

Sundance_Kid wrote: »

My lecturer in Griffith seems to think it will be SOCI, had a revision weekend there recently.

Really going to struggle with the questions 2-4, is there any particular standards that are must knows?

they were tipping that strongly june as well and look what happened another SOFP! pretty much have to have an idea of all of them IMO

SMSCH13

Hi, I am trying to study P2 at home this time i did lectures with Liam last term but failed. Am only starting my study again now cause work has been so busy. has anyone any recommendations on where i should start?

0028673

SMSCH13 wrote: »

Hi, I am trying to study P2 at home this time i did lectures with Liam last term but failed. Am only starting my study again now cause work has been so busy. has anyone any recommendations on where i should start?

I'm sitting my first set of ACCA papers having transferred across from ACA.. so i'm pretty apprehensive about this paper. I was at the revision course in Cork over the wkd..

The lecturer tipped Cashflow or F/X for Q1..but anything could come up.. ANother SOFP I hope!

Impairments and fair value measurement seem to come up alot as well..

SMSCH13

Thanks every bit of help counts at this stage!

frogstar

Hows the last week of study going?

I finished work on Friday so getting stuck in now.

Just going through past questions. Think im ok on standards but there is so much that could come up. Trying not to panic

Lovbnmoma

Hey guys doing p1 p2 and p3 next week. Just been doing past papers the last three weeks. Theres an awful lot in p2 isn't there? Im concentrating on the theory part now cause there's alot in it so hopefully it will start to sink in soon!

frogstar

Lovbnmoma wrote: »

Hey guys doing p1 p2 and p3 next week. Just been doing past papers the last three weeks. Theres an awful lot in p2 isn't there? Im concentrating on the theory part now cause there's alot in it so hopefully it will start to sink in soon!

Still cant believe you are doing all 3!

Yep there is so much in p2 and they really can exam everything in one exam.

going through the groups questions today and a few standards

Lovbnmoma

frogstar wrote: »

Still cant believe you are doing all 3!

Yep there is so much in p2 and they really can exam everything in one exam.

going through the groups questions today and a few standards

I know I must be flipping mad but hopefully ill get through them I have had last three weeks off so that has helped immensely.
I hope cash flows come up would be nice to get one!
How are you finding p1? I find its alright just alot of info to fit in.

frogstar

Yes having time off to study really helps.

Finding p1 ok. There is a lot to it but I think a lot is common sense with the answers being in the case study.

Hoping an sofp comes up on p2 as most of my revision was based on that but they are tipping an soci.

Finding it hard to focus for these last few days. Going through past papers for groups. Every time I think ive got it, something else comes up that throws me!

Lovbnmoma

Sorry only seen your reply now. Think I've hit a wall today just can't concentrate. Think the lack of sleep is catching up on me. This time next week I'll be one very happy lady! Yes I know what u mean by thinking u have it and then getting it wrong! Must practice more on soci not many questions on it. What do u think will come up on current development in p2?

frogstar

Yes not too long left now, im hoping it's not an soci, I can only see the ashanti q as practice? Dont want cash flow either but lecturer says the jocanti q should cover cash flows off,

re current issues, I've not looked into in great deal but perhaps it could be on the impairment of financial assest ias39 re incurred vs expected loss

Or revenue recognition, I really thinj q 4 is about luck and if the right topic comes up it could be easy marks, but so much coukd be examined im not going to dwell on it but will read the technical articles the night before,

p1 is getting a bit neglected, it's a pity the exams are the day after each other with no break

Lovbnmoma

frogstar wrote: »

Yes not too long left now, im hoping it's not an soci, I can only see the ashanti q as practice? Dont want cash flow either but lecturer says the jocanti q should cover cash flows off,

re current issues, I've not looked into in great deal but perhaps it could be on the impairment of financial assest ias39 re incurred vs expected loss

Or revenue recognition, I really thinj q 4 is about luck and if the right topic comes up it could be easy marks, but so much coukd be examined im not going to dwell on it but will read the technical articles the night before,

p1 is getting a bit neglected, it's a pity the exams are the day after each other with no break

Its very hard that they aren't split up the three days in a row are gonna kill me!
Just trying to get my head around foreign transactions at the min. I read on a forum on open tuition today where a lecturer said not to focus too much on q4 as there are more marks in 2 and 3.
The tech articles are great really helpful. Did your lecturer say he thought soci or cash flows would come up?

frogstar

I ageee re q4, im not planning on doing it but will read the technical articles the night before,

lecturer thinks it will be an soci with fx, but they have said that the last few sittings, he doesn't think that it will be a cash flow but if it is he mentioned it could be a reinstatement type cash flow correcting their errors

He also told us to be confident with changes in group structure and how to account for and complex groups,

I only did 3 hours study today, couldn't face another full day, will go to college library tomorrow for the full day as im sick of my house at this stage!

Best of luck on Monday if you are not on before then

Lovbnmoma

Best of luck tomorrow hope it goes well for you! Just cannot wait to get finished my brain is totally fried!

frogstar

Well lovbnmoma

Were you happy with that? I nearly cried when I saw cash flow. While its not technically difficult I only practiced one question.

I managed to do a lot but my structure went out the window. All my time spent on sofp and soci seems wasted. I was a bit all over the place in q1.

Did q2 nd q 4. Read q3 about three times and couldn't make sense of it. I picked out a few standards but his wording completely threw me.

I went in confident but really not sure I did enough. I lost a lot of marks in q1 but happy enough with the others

Lovbnmoma

frogstar wrote: »

Well lovbnmoma

Were you happy with that? I nearly cried when I saw cash flow. While its not technically difficult I only practiced one question.

I managed to do a lot but my structure went out the window. All my time spent on sofp and soci seems wasted. I was a bit all over the place in q1.

Did q2 nd q 4. Read q3 about three times and couldn't make sense of it. I picked out a few standards but his wording completely threw me.

I went in confident but really not sure I did enough. I lost a lot of marks in q1 but happy enough with the others

Hiya! I thought I was well prepared for a cash flow but when I got down to it today I struggled I made a stupid mistake on the working capital bit but I managed to hopefully fit it all in. I did q2 and q3. I didn't even look at q4! I really haven't a clue how I did not gonna dwell on it. How are you prepared for tomorrow?

Tauriel

I was delighted when I saw that Q1 was a cashflow... until I read through the adjustments. I will most certainly be repeating P2 in June.

Q2 & Q4 weren't too bad. Stayed well clear of Q3

Lovbnmoma

What was in question 4? To be honest I didn't even look at it! I probably failed too but not much I can do. I definitely wouldn't recommend doing three in a row finding it hard to stay awake this evening!

frogstar

Q4 was actually alright. It was a discussion on ias 8 accounting policies and changes in estimate and errors. Then 3 small questions on how to account for certain items around ias8. It wasn't actually a current issue question

I was so prepared for an soci/sofp and had the structure all down to a t. Q1 just threw all that structure out. Tbh I moved on from any adjustment s I was unsure of. That is how they make cash flows difficult with the adjustments.

How did you find q3? I knew the standards but was unsure about the way he wrote it. I stayed well clear.

Ok re tomorrow but spent so much effort on p2 that it has been neglected a bit.

Lovbnmoma

frogstar wrote: »

Q4 was actually alright. It was a discussion on ias 8 accounting policies and changes in estimate and errors. Then 3 small questions on how to account for certain items around ias8. It wasn't actually a current issue question

I was so prepared for an soci/sofp and had the structure all down to a t. Q1 just threw all that structure out. Tbh I moved on from any adjustment s I was unsure of. That is how they make cash flows difficult with the adjustments.

How did you find q3? I knew the standards but was unsure about the way he wrote it. I stayed well clear.

Ok re tomorrow but spent so much effort on p2 that it has been neglected a bit.

For q3 I wrote what I knew about the standards and then tried to apply the question to it. Probably completely wrong but I hope I got some marks for talking about the standard.
I think im ok on p1 just reading through the tech articles now and ill do a bit in the morning. After revising for the last two p1 seems relatively ok!
Alot of people on open tuition not happy about the cash flows too said the adjustments were hard to understand.
Anyway if im not talking to you before tomorrow the very best of luck!