QUOTE(caillech @ Feb 4 2012, 06:19 PM)
lols i dunno.. i haven done any of my P2 homework yet..
wait..let me help u summon tzxsean, nothingz, YH90 to reply ur question..
*summoning*.....
Hi! You are really helpful!
Thanks!
Added on February 4, 2012, 6:31 pmQUOTE(YH90 @ Feb 4 2012, 06:28 PM)
I've never really looked at the model answers for P2 before (since I know that I won't be able to produce such answers).
The format I used to follow is
1. state what are the standards applicable for the question
2. which part of the question is not in comply with the standard
3. state the correction and the effect to the financial statement
I think quoting is the best way since you won't go wrong with the standard, that is if your memory is that good with so many standards being examinable in the exams.
If you look at the recognition criteria's, measurement, etc for every standard, you will actually see a trend that 2-3 criteria are always there in all the standards. That is how I memorized it anyway.
And when you answer the question, don't use dodgy answers even though you are not that sure with the standards. Write precise answers like you own the standard.
Thank you for your advice. Actually my memory isn't great, it is just that I did that question right after the lecture on the same topic/IFRS so i remembered what was taught. LOL. However, i believe if practise these questions a few more time, the standards (50%?) will stay in our brain. Fingers crossed.
Added on February 4, 2012, 6:32 pmQUOTE(noonies_naruto @ Feb 4 2012, 06:44 PM)
ehh... i thought u already jawab the paper liao
sorry my bad..
I sat 2nd time p2 already.. id say first round my biggest mistake was, ignoring theory questions, like standards.. i went like an f7 method, juz dooo all calculation (consol+ group + cashflow) and theory skit2 i goreng2 only.. habis hancur that p2 paper..
however, 2nd seating which i just sat, i prepare myself already... u know come out calculation really little, account for 30 marks only (asuming u ignore the optional Q2 full of calculations!) and the rest represent theoretical answering!
I'd say, ur lecturer can simply say ur answer boring and all, because he got too much high expectation. If u wan to really impress everybody, take your whole time and answer with a 5 hour worth of answers la. where got that kind of time in exam??
we need to be precise and straight to the point. if got factual come from textbook answers, u settle that first la. wanna add some more can but make sure u already settle all other questions la, then you'll find out you have about 40mins extra!
unless you going for world prize... ehem.. please ignore my rant..
It is ok. I think this forum allows us to rant since it is a emotional period of the year...waiting for results mah...LOL
Added on February 4, 2012, 6:34 pmQUOTE(tzxsean @ Feb 4 2012, 07:02 PM)
been summoned hence I'm here
1) when you do such questions, try to identify the relevant standards ( there can be multiple standards hidden inside the question)
2) when u read it, try to highlight places that u think have been done wrong by the accountant
3) recall to the requirements set by the standards and match indivdual error to the corresponding standards' requirement
4) when u wan to answer the questions, pls start with a header. example below:
» Click to show Spoiler - click again to hide... «
IAS 16 Property, Plant & Equipment
xxxxxxx
definition of PPE
xxxxxxx
Analysis
xxxxxxx
Conclusion/Correction need to be done
» Click to show Spoiler - click again to hide... «
when u spotted an issue with the standard, pls write it out what's the standard being used in the question
after that, write out the standards' requirement which are contradicted inside the question
after that, analysis the case inconsistency with the standard while linking it back to the standards (eg. definition of ppe not achieved- assets used less than 12 months or others such as total cost of assets purchased incorrect)
after all this, you should only do a conclusion or even advice what and how to correct the error according to the requirement of the question
this is because if at the very 1st place you already agree or disagree with the works of accountant
and when you are wrong at the very 1st step, the subsequent writings u did will be a waste
so do all the heading and analysis of standards and questions before u draw the conclusion
even if you're wrong, u will still get some marks from the explanation before your conclusion
you are able to show that you noe the standards but you're just unlucky during exam - quote Spencer
p/s: if they are more than 1 standard, they might trick u into thinking all works done by
accountant related to the standards are wrong. If it's correct dun do it..it's just a waste of time
TL;DR
p/s: when you try to relate to the standards, pls do it accordance to the most important requirement because if the most important 1 is not fulfilled
then you can save ur time by not explaining the less important requirement. eg. intangible asset- identifiable separately from company (KFC) rather
than cost
Thanks tzxsean. I will work on that. A good pointer indeed.
This post has been edited by Doreamon10: Feb 4 2012, 06:34 PM 
Feb 4 2012, 12:17 PM
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if i had to rant as well it would be for work. I only hav acca and nothing else, if i screw this one up... my butt konfem really hurt one 
susah la carik keje ini mcm 
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