I'd done some preparation and go through IFRS in past few months. Now its the time for me to go through past year questions and some other study materials. Can anybody give some advises or share with me some notes or questions please? Thanks
P2 - Corporate Reporting is not too bad when you study its various components. Very difficult when you are new to Financial Accounting. When you are comfortable with dealing with the various items:
1. Currency changes when doing consolidation accounts
Depreciation of Property plant and equipment (F3 material)
Accounting for projects etc.
Best to be familiar with the set up of each financial report:
Profit and Loss Account
Schedule of Assets (the Property, Plant and Equipment, each in its seperate schedule)
Cash flow Statement
Contingent liability etc...
I am sitting for the P2 lecture but not doing the exam this December. Sitting for the Financial Reporting paper.
My two cents worth. Study each accounting standard together with the calculations involved. Like in the BPP Study Text. Are you using that, like myself?
All the best, Ng Huey Ling!
hey,this is also mine first attempt and **** scared :( but fear is not the way to clear exams i have clear fundamental papers in first attempt in previous 2 sittings with 3 papers in each attempt.And i believe these all papers are easy it just depend on your commitment and time to practice each paper and more important buddy just try to prepare with BPP your chances of success will increase twice.To be an successful accounts executive or Auditor you must have strong grip on p2 and p7/F8 and these subjects are grace of our degree and not that much difficult these are all humans like we wh got high marks just because of self confidence and self motivation.don't underestimate yourself just try hard and try to be friend of these papers you'll not just pass but also will enjoy these.got it buddy :)