Part 1 - Consolidation

Consolidation (35 marks) + One standard application(6-8 marks) + Ethical or social responsibilities(6-8 marks)(Total 50 marks)

a, Focus on Consolidated FP, but could not ignore Consolidated CIS

b, Consolidated skills could be examined

Step acquisition(get control or retained control)

Disposal (retained control or lose control)

Foreign subsidiary

Complex structure

c, Typical past paper questions

Dec 2009 Q1 Grange (Retained control's step acquisition and disposal retained or lose control);

Jun 2011 Q1 Rose (Retained control's step acquisition and foreign subsidiary)

Jun 2012 Q1 Robby(Get control's step acquisition and joint operation)

Jun 2013 Q1 Trailer (Complex structure + two goodwill method (+impairment)

Please make sure you practice at least the above past questions, at least three times, and at least you have grasped all the logics and skills before the exam date.

d, Notes for consolidation

Consolidated FS should be finished in 60 minutes, it is hard for everyone. Then please use the reading time of 15 minutes on Q1. In the 15 minutes, what shall we do?

Planning!

Reading the requirements and all the notes.

Set up the group structure

According to the group structure, list clearly which subsidiaries should be consolidated based on IFRS3 and IFRS10, which entity would be consolidated using equity method etc.

--For FP, assess at the y/e point by the concept of control or significant influence or joint control.

--For CIS, if during the period, get control or lose control a subsidiary, then the revenue, cost, exp etc should be time proportionate, only consolidate the period which the group control over the subsidiary.

If during the period, only group shares percentage changed, not change of control substance,  ie retained control, then consolidate the subsidiary's revenue, cost, exp etc for the whole year.

If you can use the first 15 minutes efficiently, then you will have confidence to score about 30 marks/total 35 marks for the consolidation in the following 60 minutes.

Part 2 - Standards Applications

Q2/Q3/Q4--Standards Applications (choose two from three, each 25 marks)

a, How to choose?

Q4 normally focus on new standards or current issues of EDs, may be on simple level, but need your widely reading on articles for current issue and good preparation. If you are a good debate, and have prepared related issues, you can choose.

b, Which standards will be examined in Q2 and Q3?

All the standards listed in the Syllabus could be examined. But focus on keys standards will be efficient in the last month for preparation. Key standards relate to IAS18, IAS17, IFRS5, IFRS9, IAS36, IAS37, IAS38, IAS21, IAS12, IAS19, IFRS2 etc.

Attached for reference: Standards tree

c, How to do for standards application?

Please do not feel daunting to look at past exam answers. The volume and detail included can lead you to think that this is what is expected from you in the exam. This is simply not true. The exam answers are teaching answers. In order to score full marks, you do not need a perfect answer. You simply need a clear concise answer that covers the appropriate number of key points.

Normally three to five sentences followed in a headline, some logical headlines constitute the whole answers will be clearly and concisely.

Good reference logical steps will be:

Step1, Scope, which standards? State the IFRSs' No. and Title.

Step2, Related principle, Recognition? Measurement? etc

Step3, Application to the case.

Step4, Effect to financial statement

2016 ACCA學(xué)習(xí)資料大禮包（內(nèi)含ACCA歷年真題、考官文章、考官報告、備考寶典等實用學(xué)習(xí)資料），關(guān)注微信公眾號：ACCA考友論壇（ID:ACCA-CHN）即可領(lǐng)?。?/span>