Q1 P2 ACCA

I strongly suggest to study all the 3 types of questions FP,CF and PL. Last semester I had some students that bet on CF 100% and when it did not come out, they failed it. In the recent examiner meet in Nottingham UK it was clear that examiner highlight the importance of doing Q1 properly. That is the key to passing this paper. Stick to a format and fill up as you go. Cool and steady hand in Q1 will give you a great chance at passing this paper. Q1 part b - this may have something to do with whether an entity should be consolidated or not IFRS 10 Control test OR Forex test for functional currency OR the lease test for finance lease also looks possible. There could also be a question on related party that combines associate test. [IAS 24 and IAS 28]

Q1 part c - this will be either CSR/environment (Beth case) OR accounting profession being reactive or pro-active OR ethical behaviour for directors in manipulating the financial statements

Q2 and Q3 P2 ACCA
Usual standards should make an appearance IFRS2 (Cancellation), IFRS 5, IAS 36 - CGU impairment, IAS 19 (Curtailment) and IAS 12 (Losses b/f) & write off test. IAS 18 Revenue will still be there - probably complicated one that has interest component built in IAS 17 Cover both sides of the accounts IFRS 9 - FVtOCI Investment, Financial liability (handling changes in credit risk), Factoring, Impairment, Discussion on CCT and BMT. IFRS 8 - segment test and whether it should be disclosed / aggregated IAS 8 - Policy changes and implication IAS 37 Provision - decommissioning cost and legal case Obviously that looks like the whole syllabus, but each exam does test almost all the standards either in Q1 /2 or 3. What I have done is consider which is more possible.

Q4 P2 ACCA
Everyone in the world is betting on Hedge accounting ED being examined this time and the examiner knows this. He may shock everyone by bring in something else. So to play it safe! 1. ED 39 (check my previous blog for the Dec 2012 exam, that is the spot that did not come out) 2. Management commentary 3. Bin the clutter - article by examiner (knowledge of IFRS 7 and 12 would improve your discussion considerably. 4. IFRS 11 discussion question - why was it developed? 5. IFRS 12 disclosure - do we really need it? 6. CSR and Environmental reporting - Glowball question 7. Changes in conceptual framework - the new words 8. Convergence - issues and benefits 9. Read the past year papers for IFRS for SME and IFRS 1 (there is a slim chance of repeat)