2011-2014年ACCA P2 Corporate Reporting 考官报告下载

2011-2014年ACCA考试 P2 Corporate Reporting 考官报告下载

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Examiner's report
P2 Corporate Reporting
June 2014
Examiner's report – P2 June 2014

Introduction
The examination consisted of two sections. Section A contained one question for 50 marks and Section B
contained three questions of 25 marks each, from which candidates had to answer two questions.  
Question 1 is a lengthy and difficult question and it is important that candidates do complete all sections of this
question. It is surprising that often candidates do not complete part 1c, which is the ethics element of the
question. In many ways this is quite worrying as it would be hoped at this level of examination that candidates
would be able to discuss an ethical scenario in some detail. Additionally, marks can readily be gained for a wellargued ethically based answer. Feedback from various quarters seemed to indicate that the paper was considered
to be a fair test for candidates but the results suggest that many candidates had not prepared in the best way for
this exam. There are various tutors who provide students with ‘tips’ for the examination and invariably given the
number of tutors providing theses ‘tips’, some will be accurate. However, the best way to prepare for the
examination is to understand the key areas of the syllabus and not rely on rote learned answers to questions or
‘tips’. It was evident from the answers submitted that candidates often could not apply basic mathematical
principles to the questions. This was evident in question 2 parts b and c.  This report will set out how candidates
should apply themselves in answering this paper, and will give an insight into how marks can be gained in the
examination paper.  
The normal problems arose for some candidates such  as failing to read the question clearly and therefore
providing irrelevant answers, and poor time management where candidates spend too much time on one aspect
of a question. However, many candidates do not have a basic understanding of the standards, which causes a
problem, as most questions require this knowledge. Section B of the paper requires candidates to discuss various
issues but many candidates simply  deal with the numerical aspect of a question without the necessary
explanations. The problem that arises  in these circumstances is that if  the calculations are incorrect then
candidates will lose most of the marks for the question. Many of the questions are based around real life
scenarios, and the marks are allocated for knowledge of the standard and its applications to that scenario. An
accountant would not advise a client by quoting a standard to that client. An accountant would give advice that
appertains to the specific circumstances of that client and this paper attempts to replicate that scenario. Many of
the real issues in practice revolve around some of the core standards .So it is important that candidates
understand, for example, the difference between debt and equity, the nature of an intangible asset, how assets
‘held for sale’ are dealt with .The examination paper  always attracts comments on some of the wording and
technical aspects of the answers. These comments are always taken into account in the marking of the paper.
However, in determining whether a candidate passes or fails, the comments often have a marginal affect. The
main reason for failure is simply lack of basic knowledge of the standards and lack of the ability to apply them. In
terms of the current issues aspect of the paper, candidates should understand real issues affecting the profession
and these issues will not always be  EDs or DPs or new standards when they are initially released. Students
should read widely and not be dependent upon a textbook or manual. The latter are a good source of material but
there is a need to gain a wider understanding and to contextualise the knowledge gained


Question One
Question 1a required candidates to prepare a consolidated statement of profit or loss and other comprehensive
income for the year ended 30 April 2014 for the Merchant Group and this carried 30 marks and additionally for
5 marks candidates were asked to explain, with suitable calculations, how the sale of the 8% interest in one
subsidiary should be dealt with in  the group statement of financial position at 30 April 2014.This type of
question  is  normally  framed  so  as  to  test  group  accounting principles. Thus, candidates were expected to
calculate goodwill and deal with impairment of goodwill and its reversal. Candidates dealt with the calculation of
goodwill very well. However, any subsequent increase in the recoverable amount is likely to be internally
generated goodwill rather than a reversal of purchased goodwill impairment. IAS 38 Intangible Assets prohibits
the recognition of internally generated goodwill, thus any reversal of impairment is not recognised. Candidates did
not deal particularly well with this point.