P2-Corporate Reporting course contains three components.
-Consolidation(50 Marks Compulsory Question).
-Accounting Standards(50 Marks).
-Adoption of IFRS and Current Developments(25 Marks); Students usually left this question in choice.
-50 Marks Compulsory question on Consolidation further divided in to two components.
---Consolidation Mechanics(IAS-27, IFRS-3, IAS-28(For Associates) and IAS-31(For Joint Ventures)); Only 15 to 20 Marks are available on Consolidation Mechanics in this paper out of 50 marks.
---Other Accounting Standards(IAS-12, IAS-16, IAS-19, IAS-21, IAS-36, IAS-32 and 39 and IFRS-2 ); 30 to 35 Marks on Examinability of these accounting standards in consolidation as adjustments are available out of 50 marks.
-High Profile and Complex Accounting Standards and their Applications are examined in this section. Accounting Standards like IAS-12, IAS-19, IAS-36, IAS-37, IAS-38, IAS-32 and 39, IFRS-2, IFRS-5, IFRS-7 and IFRS-8(Previously IAS-14) are almost featured in every sitting.
You can not pass this paper alone on the basis of your number crunching skills. You need to study accounting standards in good depth. One most important thing is that if you are taking tuition for this paper and you want to pass it in first attempt please don't become teacher dependant.
The best way to study this paper is that first start with consolidation mechanics and then accounting standards.
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If you are a full time student then these three papers will not create any problem to you.
