In terms of the P2 September 2016 exam and the tips. After June's tips being spot on I have had to think of some more! Well this time I cannot see Q1 being a cash flow again and would have to favour group statement of financial position to be more likely over the profit or loss. Control to control issues. Maybe foreign currency. You must clearly show your workings. You just must. Errors are made. Markers are looking at your method. Certainly there will be an ethical issue, and this is an area where too many candidates drop marks. Please please prepare for the ethical question. See my article on ACCA web site.
In section B it seems almost pointless flagging up particular standards given the examiners ability to set wide ranging questions encompassing multiple standards. What I would say is, you should get a mark for giving a definition, but more marks are available for the application. Think one point, one paragraph for one mark. Standards are principles based, so require the use of judgement. A good knowledge of the framework can often help. Please look at deferred tax, related parties again.
In terms of Q4 - well leasing came up last time! There is a constant theme of the framework around these questions. There has been some issues around European countries not fully complying with disclosure requirements on group consolidations. Search Holt ACCA ESMA and read! Remember the definition of a subsidiary is principle based. It is important you read around for Q4. Integrated reporting? If you do not "like" this question, it can of course be avoided, but in my experience it can be a rich harvest of marks as it concentrates on a single topic.
Last and by no means least. Time management. Read the examiners reports. He tells it as it is. GOOD LUCK!
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Qualification
ACCA, The Association of Chartered Certified Accountants, UK
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ACCA, The Association of Chartered Certified Accountants, UK
Mr Thomas Henry John Clendon (Tom) trained with KPMG in England and qualified as a certified accountant (ACCA) in 1989. Tom is an enthusiastic, popular and authoritative lecturer, with over 20 years experience in the education and training field. He was a director of one of the UK's leading for profit training companies. In 2009 he was awarded Tutor of the Year by PQ magazine. He is the author of the book "A student's guide to group accounts" which is now in its second edition. His articles are regularly published in the accountancy press, including the ACCA's Student Accountant. He has been a marker and an examiner. Since 2013 Tom has been employed as a senior lecturer at FTMS where he delivers academic and professional programmes across South East Asia.
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