ACCA P2 Corporate Reporting Revision Kit

508 Pages·2015·8.59 MB·English

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Corporate Reporting (International and UK) g
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PAPER P2 i E oo
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CORPORATE REPORTING dd
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(INTERNATIONAL AND UNITED KINGDOM) rr
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BPP Learning Media is an ACCA Approved Content Provider for the ACCA qualification. I cc
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This means we work closely with ACCAt to ensure our products fully prepare you for ss
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In this Practice and Revision Kit, awhich has been reviewed by the ACCA examination I mm
team, we: aa
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 Discuss the best strategies for revising and taking your ACCA exams rr
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 Ensure you are well cprepared for your exam N l.cl.c
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 Provide you with lots of great guidance on tackling questions mm
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 Provide you with three mock exams
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 Provide ACCA exam answers as well as our own for selected questions K
Our Passcareds support this paper.
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FOR EXAMS FROM 1 SEPTEMBER 2015 TO 31 AUGUST 2016
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First edition 2007 r ww
Ninth edition April 2015 nn
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ISBN 9781 4727 2693 3 dd
(previous ISBN 9781 4727 1108 3) t m m
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e-ISBN 9781 4727 2745 9 rere
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British Library Cataloguing-in-Publication Data ss
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A catalogue record for this book All our rights reserved. No part of this publication may be
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is available from the British Library ryeproduced, stored in a retrieval system or transmitted, in tttt
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any form or by any means, electronic, mechanical, ::
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Published by written permission of BPP Learning Media Ltd. ee
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BPP Learning Media Ltd cc
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examination questions. The suggested solutions in the dd
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Learning Media Ltd, except where otherwise stated.
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Contents
Page
Finding questions
Question index............................................................................................................................................................m......v
Topic index....................................................................................................................................................................viii
Helping you with your revision
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Revising P2
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Revising P2.......................................................................................................................................................................x
Passing the P2 exam.........................................................................................................................................................xi
Exam information..........................................................................................................................l.................................xiii
Analysis of past papers..............................................................................................................a....................................xiii TT
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Exam update..................................................................................................................................................................xxii

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Useful websites..................................................................................................................i...........................................xxiv oo
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Questions and answers nn
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Questions..........................................................................................................................................................................3
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Answers........................................................................................................................................................................101 dd
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Exam practice a
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Mock exam 1 ee
 Questions.......................................................................................m.....................................................................351 v v
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 Plan of attack.......................................................................................................................................................359 ii
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 Answers...............................................................................................................................................................360 hh
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Mock exam 2 pp
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 Questions....................................................................d........................................................................................379 //f//f
 Plan of attack.......................................................................................................................................................389 rere
 Answers...............................................................................................................................................................392 ee
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Mock exam 3 (December 2014) cc
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 Questions.....................................................t.......................................................................................................413 aa
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 Plan of attack............................................s...........................................................................................................421 tutu
 Answers...............................................................................................................................................................423 dd
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ACCA's exam answers a mm
 June 2014............................................................................................................................................................443 aa
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 December 2014..........................c.........................................................................................................................455 ee
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Mathematical tables..........c................................................................................................................................471 l.l.
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Review form mm
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iv Finding questions
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Question index
The headings in this checklist/index indicate the main topics of questions, but questions often cover several
different topics.
Questions set under the previous syllabus Advanced Corporate Reporting paper are included because their style and
content are similar to those which appear in the P2 exam. The questions have been amended to reflect the current
exam format.
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Time Page number
allocation
Marks Mins oQuestion Answer
Part A: Regulatory and ethical framework
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Financial reporting framework
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1 Conceptual framework (12/07, amended) 25 45 3 101
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2 Accounting standards and disclosure (12/08) 25 a45 3 103 TT
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3 Lizzer (6/13) 25 45 4 106
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4 Venue (12/11, amended) 25 45 5 109
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Part B: Accounting standards e lolo
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5 Preparation question: Sundry standards t– – 6 113
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6 Key (12/09) m 25 45 7 116 v v
7 Prochain (ACR, 6/06) 25 45 8 119 isis
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8 Johan (12/08) 25 45 9 121
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9 Scramble (12/11) y 25 45 10 125 tttt
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10 Preparation question: Defined benefit plan – – 11 127 ee
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11 Macaljoy (12/07, amended) u 25 45 12 129 aa
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12 Smith (6/09, amended) 25 45 13 132
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Events after reporting period, provsisions and tutu
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13 Ryder (ACR, 12/05) 25 45 14 134
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14 Royan (6/12, amended) c 15 27 15 137 tete
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15 Electron (Pilot paper) 25 45 15 138 iaia
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Income taxes cc
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16 Cohort (ACR, 6/02, amaended) 22 40 16 141 mm
17 Panel (ACR, 12/05) 25 45 17 142
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18 Kesare (Pilot paper) 25 45 18 145
Financial instruments
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19 Preparation question: Financial instruments – – 19 147
20 Bental (1r2/13, amended) 25 45 20 148
21 Avco f(6/14, amended) 25 45 21 151
22 Complexity (12/09) 25 45 22 154
23 Ambush (ACR, 12/05, amended) 25 45 22 156
24 Aron (6/09, amended) 25 45 23 158
Finding questions v
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Leases
25 Preparation question: Leases – – 24 163
26 Havanna (12/13) 25 45 25 164
27 Holcombe (6/10, amended) 25 45 26 167
28 William (6/12) 25 45 27 170
Share-based payment
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29 Leigh (ACR, 6/07) 25 45 28 173
30 Margie (12/10) 25 45 29 176
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31 Greenie (12/10) 25 45 30 178
Performance reporting
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32 Zack (12/13) 25 45 31 181
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33 Minco (6/14, amended) 25 45 32 185
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34 Alexandra (6/11) 25 a45 33 189 TT
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35 Cate (6/10) 25 45 34 192

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36 Calcula 25 i45 35 195 oo
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Related parties nn
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37 Egin Group (ACR, 6/06) 25 45 36 199 aa
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Part C: Group financial statements a mm
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Revision of basic groups ee
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38 Marrgrett (12/08) 25 45 38 202 isis
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39 Preparation question: Associate – – 39 205
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Complex groups tptp
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40 Preparation question: 'D'-shaped group d – – 40 207 /f/f
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41 Preparation question: Sub-subsidiary – – 41 209 ee
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42 Glove (ACR, 6/07, amended) u 25 45 43 211 aa
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43 Case study question: Minny (12/12) 50 90 44 216
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44 Case study question: Trailer (6/13) 50 90 46 221
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Changes in group structures
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45 Preparation question: Part disposal – – 48 229
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46 Preparation question: Purchasce of further interest – – 50 231 tete
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47 Case study question: Marchant (6/14) 50 90 50 233 iaia
48 Ejoy (ACR, 6/06, amendedc) 30 54 52 240 l.cl.c
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49 Case study question: Traveler (12/11) 50 90 54 244 mm
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50 Case study question: Robby (6/12) 50 90 56 250
51 Case study questieon: Bravado (6/09) 50 90 58 256
52 Case study question: Grange (12/09) 50 90 60 261
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53 Case study question: Ashanti (6/10, amended) 50 90 62 269
Foreign tranrsactions and entities
54 Preparfation question: Foreign operation – – 64 276
55 Aspire (6/14) 25 45 66 278
56 Memo (ACR, 6/04, amended) 32 58 67 281
57 Case study question: Rose (6/11) 50 90 69 285

vi Finding questions
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Time Page number
allocation
Marks Mins Question Answer
Group statements of cash flows
58 Preparation question: Consolidated statement of cash flows – – 71 290
59 Case study question: Angel (12/13) 50 90 74 292
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60 Case study question: Jocatt (12/10) 50 90 78 297
61 Case study question: Warrburt (12/08, amended) 50 90 82 303
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Part D: Developments in reporting
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Environmental and social reporting
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62 Glowball (ACR, Pilot paper) 25 45 86 308
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Current developments a TT
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63 Preparation question: Current issues – – 87 310 dd
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64 Fair values and IFRS 13 25 r45 88 313 ww
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65 Jones and Cousin (ACR 12/06) 25 e 45 88 315 ll
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Specialised entities and specialised transactions
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66 Lockfine (6/11) 25 45 89 318 mm
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67 Seltec (6/10) 25 45 90 321 rr
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68 Ethan (6/12) m 25 45 91 324 v v
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69 Norman (6/08) 25 45 92 327 ss
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70 Preparation question: Reconstruction scheme – – 93 330 hh
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71 Plans 15 27 94 333 pp
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72 Decany (12/11) d 25 45 94 335 /f/f
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73 Lucky Dairy (ACR, 6/02, amended) 25 45 95 339 ee
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IFRS for small and medium-sized entities cc
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74 IFRSs and SMEs (ACR, 6/06, amended)t 25 45 97 341 aa
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75 Whitebirk (12/10, amended) s 22 40 97 344 tutu
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Mock exam 1 a mm
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76 Case study question: Ribby (6/08) tt
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77 Coate (12/12) rr
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78 Blackcutt (12/12) c l.l.
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79 Jayach (12/12) oo
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Mock exam 2
80 Case study queestion: Beth (12/07, amended)
81 Verge (6/13)
82 Janne (6/1e3)
83 Implementing IFRS (6/08)
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Mock exam 3 (December 2014)
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84 Case study question: Joey (12/14)
85 Coatmin (12/14)
86 Kayte (12/14)
87 Estoil(12/14)

Finding questions v ii
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