ACCA P2 JUNE 2016 EXAM TIPS

ACCA P2 Exam Tips for June 2016 

Q1 should either be a group cash flow which is now overdue, or the examiner's favourite a group statement of financial position, and if the later expect control to control transactions. Each paragraph in the p2 exam group statement of financial position questions should be capable of being addressed in isolation. Always clearly reference your workings. Ethics of course will always be there so please have a go and by that I mean apply the ethical principles not just write them out cold.

Q2/3 The range of accounting standards addressed in Q2 & Q3 is breath taking and makes tipping topics pointless really. Technical standards like Pensions, financial instruments, share based payments get examined along side provisions & intangibles that we remember (or should remember) from previous studies. Think about starting with a definition but please do go on to apply your knowledge. One mark per relevant point so please leave gaps between your mini paragraphs. He may set a theme style question – perhaps loosely based around a company in trouble or maybe deferred tax

Q4 I like q4. It will be original, critical, and often based on a single topic. The framework is often the key here. Leasing is the hot tip here but let's see. If you do not like you do not have to do it - but boy if you do know the topic and can apply yourself happy days!. IFRS 3 has been reviewed lately and could feature.

Time management is key. Weaker students over run on Q1 and end up not answering enough of the paper.

Good luck everyone!