CPA P2 Electives

robynred

Hi

I will be registering to take lectures for my CPA P2 electives in September.
The four electives I have to choose two from are:
Advanced Taxation
Audit Practice & Assurance Services
Strategic Corporate Finance
Strategic Performance Management

Ideally I would like to do Audit Practice & Assurance and Strategic Performance Management.
I have heard from fellow students that the tax exam is extremely hard and the lecturer where I am planning to go isn't that strong.
I don't plan on working in practice I plan to stay in industry but I don't want to bite off my nose to spite my face in the long run by not doing tax and end up being in a situation where I change my mind and try get a job in practice.

Should I just get over my fear of how hard the exam is and do the tax.
Are there many qualified accountants out there that didn't sit a tax exam... I am thinking not?
Any advice appreciated.

frankythefish

i have sat lecs for adv corp rep and strat lead at p2. sitting p1 aud in aug my third sit

re the electives i'll prob pick tax and audit for lectures in sept.

if i want a practising cert i need these i believe.
how you fare p1 tax aud etc?

and advice for me on p1 aud?

ultimately of course its up to the individual

robynred

I sat the lectures for Adv Corp Rep and Strat & Lead last term.
I plan to sit those exams in Aug.

I sat and passed the P1 Auditing last Aug.
Do you have a good lecturer? Did you do any of the revision courses are are you planning on doing any before Aug?
Do you have exposure to the Audit process in the company you work for?
I prepare all the working papers (except wages & salaries) for the audit and I liaise with the auditors during the audit and throughout the year.
I found this a huge advantage for sitting and passing the exam because I could relate the questions back to reality.
I didn't read the questions in the exam as an exam question, I read them as if they were actually happening where I work and my answer was what would happen, I found it an easier approach that learning blocks of theory. Theory is not my strong point.

Question 1 on the August 13 paper was on the fixed asset register and I got full marks in that question by literally applying my reality in work. That question really got me through the paper so I got lucky I suppose.

Also the lecturer I had gave acronyms for all the main parts and I found it a great help for formatting my answers, making sure I didn't leave anything out.

frankythefish

thanks for advice. re strat and lead be wary, my colleague is on his fourth and final sit this august. was gonna sit p2s(strat lead and adv corp rep) in aug, but because of the four strikes rule and the fact i have p1 aud still on my workload i felt it unwise. expect i will sit 4 p2s next april, having sat tax and aud p2 lecs over the winter.