Greetings from Sunny Cyprus.
My name is Pan and i an an ACCA student blogger with 1 more paper to go (P6)
I was fortunate enough to had been exposed to great resources for my first attempt at P2 in December and i passed.
I would like to share with anyone who feels like they could do with a boost or some encouragement because this is a very passable exam.
Let me know with any questions you may have and i will gladly help.
I'm pleased to hear that it is possible to pass P2 first time, at the moment it feels like a huge mountain to climb!
You said that you had access to some really helpful resources for P2 and I was just wondering what they were?
I'm finding the consolidation questions hard at the moment.
Thanks for your help
The FIRST thing our lecturer pointed out was the following
"How do you eat an elephant?" - Bit by bit, chunk by chunk and that stanza holds true for P2.
Opening the question paper to attempt Question 1 in the exam and looking at is as a whole - it seems impossible, seeing the mark allocation and breaking it down to manageable size chunks is really the only way to go.
Once you grasp and accept that point i will say to you the single most important aid i had was this book
A Students Guide to Group Accounts
Its ACCA approved since its a kaplan product and this book even though its 2013 its all relevant and up to date.
It assumes you have little or NO knowledge of Group accounts and it takes you step by step.
The KEY to P2 is questions questions questions and this book breaks down the theory and then gives you a question on that part - teaches you a little more and gives you a bigger question.
It also has free resources online for extra questions + i contacted the author a world known authority in P2 and i was able to acquire more resources that helped me pass.
Using this book for me was using the elephant stanza, i was tackling group accounts bit by bit.
I hope this has helped - once you digest this part we can move on to the next part of Standards in P2
Have a great week ahead
ACCA Community Champion
Hi pan , please I really need help for P2 especially how to tackle questions 2 and 3. What of question 4, and the resources u used. Waiting for your reply
Hi Awhejevu Efe-Eguridu
In my earlier post i commented that i learnt Groups from a particular book.
Standards i learnt them from this book here:
A student's guide to International Financial Reporting Standards Paperback – also a kaplan publication and its written by an exceptional professional named Clare Finch (the only thing that is outdated in that book is IAS8 which was replaced by IFRS 15)
I went over this book that explained the PRINCIPLES of the standard and how to implement it in a question.
After learning the basic principles of a given standard for question 2 and 3 then you need to practice practice practice
Learn basic principles
Practice questions, lots of them
Dont be trapped into learning and reading tons and tons of material, its usually the thing we want to do LEAST (question practice) that is what we need to do the most
Question 4: Current issues is different for every sitting, i read all the latest technical articles and i also got feedback from my tutors - in all fairness, i made sure i was super prepared for Q1,2 & 3 just in case Q4 was not one that i could get a pass from
I hope this helps
How long did you study for it? weeks? months?