Exam Guide for ACCA P2 P2 Corporate Reporting June 2013 Exam

Exam Guide June 2013 (P2 Corporate Reporting)

	Topics
Question 1	(a)   Consolidated Financial Statements (Do not Spot!) -          Vertical/Mixed group -          Foreign operation (Closing Rate method) -          Piecemeal acquisition -          Disposal -          Group cash flows   Accounting standards integrated in Consolidated Financial Statements (At least 3 from below): -          IAS 16 Property, Plant and Equipment -          IAS 38 Intangible Assets -          IAS 19 Employee Benefit -          IAS 21 The Effects of Changes in Foreign Exchange Rates -          IAS 28 Investments in Associates and Joint Ventures -          IAS 37 Provisions, Contingent Liabilities and Assets -          IFRS 9 Financial Instruments -          IFRS 10 Consolidated Financial Statements -          IFRS 11 Joint Arrangements   (b)   Theoretical element on group context -          IFRS 9 Financial Instruments -          IFRS 3 Business Combinations -          IFRS 11 Joint Venture Arrangement -          IFRS 10 Consolidated Financial Statements -          IAS 27 Separate Financial Statements -          Analysis on the group cash flows -          Difference between direct and indirect method   (c)   Ethics -          Explain the difference between being ethical and mere compliance of the Accounting Standards -          The case mentioned contains element of “Creative accounting” to mislead financial user -          Student need to address the unethical behavior or accounting treatment proposed by the Director -          Recommend a proposed solution
Question 2 (1 or 2 Accounting standard(s) )	At least 6 of the followings: -          Restructuring: Transfer of Subsidiary to Sub-subsidiary or vice versa (Refer Q2 Dec 2011) -          IAS 16 Property, Plant and Equipment -          IAS 17 Lease -          IAS 18 Revenue -          IAS 38 Intangible Assets -          IAS 36 Impairment of Assets -          IAS 19 Employee Benefit -          IFRS 2 Share Based Payment -          IAS 37 Provisions, Contingent Liabilities and Assets -          IFRS 9 Financial Instruments -          IFRS 11 Joint Venture Arrangement -          IFRS 10 Consolidated Financial Statements -          IAS 27 Separate Financial Statements -          IFRS 5 Assets Held for Sale -          IFRS 3 Business Combination -          IAS 12 Taxation
Question 3 (At lease 4 Accounting Standards)
Question 4	-          IFRS 9 – Draft Chapter 6 Hedge Accounting -          ED Revenue from contracts with customers -          ED Investment Entities -          ED Financial Instruments: Amortised Cost and Impairment (inc -          expected loss approach) -          ED Improvements to IFRSs