BPP EXAM tips for June 2008 –BPP–P2 normal, style

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P2 Corporate Reporting

According to BPP following are the topics that are expected to appear in P2 Corporate Reporting for June 2008 attempt. WARNING: The examiners deliberately try to avoid question spotting. Use the tips as areas to have a good look at, but remember that no-one knows what’s in the exam except the examiner. Your safest bet is to achieve good syllabus coverage in your revision, as the examiner aims to do in the exam. The areas that we would expect to see most regularly in the exam in the compulsory section of the paper are:

 

l        Group accounting – Complex groups, foreign subsidiaries, disposals of subsidiaries or associates, discontinued operations or group statements of cash flows (cash flow statements) (Study Text Q19 Big Group (UK Q21 Armoury), Q22 Harvard (UK Q24),Q21 Holmes and Deakin (UK Q23), Q23 Tastydesserts (UK Q25)

l        The question will also include adjustments on other areas, such as:

–       pensions (Study Text Q5 Radost (UK Q6 FRS 17))

–       financial instruments (Study Text Q7 PQR (UK Q8))

–       share-based payment (Study Text Q15 Share-based payment (UK Q16))

l        The remaining part of the question is likely to include something on ethical, social or environmental issues normally based on a scenario (Study Text Q1 Fundamental principles)

 

Other areas that we will expect to see, particularly in the optional part of the paper in multi-part questions are:

 

l        Conceptual framework

l        Non-current (fixed) assets and impairments (Study Text Q2 Greensmith, Q3 Acquirer (UK Q4 FRS 11, Q5 Invest))

l        Deferred tax (Study Text Q6 DT Group (UK Q7 Taxable))

l        Provisions (Study Text Q9 Clean (UK Q10 Leased warehouse))

l        Revenue (Study Text Q11 Tree (UK Q12 FRS 5 Scenarios))

l        Related parties (Study Text Q14 Ace (UK –))

l        Leases (Study Text Q26 Planet (UK Q29))

l        Performance measures (Study Text Q13 Grow by acquisition (UK Q27 German competitor))

l        Application of accounting standards to specialised entity scenarios (Study Text Chapter 22)

l        Essay question on current developments in reporting (Study Text Chapter 24)