Professional Documents
Culture Documents
Section A
This will be a 50 mark compulsory case study including preparation of a group
statement of financial position and/or statement of profit of loss and other
comprehensive income or statement of cash flows which may include a foreign
subsidiary, discontinued activities, disposals and/or acquisitions. This will include
other accounting complications such as financial instruments, pensions, sharebased payment and impairments.
There will also be discursive requirements on a linked accounting adjustment and
social/ethical/moral aspects of corporate reporting.
Section B
Section B normally includes:
Q2 & Q3: 2 case study questions: one a multi-part question covering a range of
topics or a theme such as deferred tax, foreign currency transactions, financial
instruments, pensions, share-based payment, non-current assets (recognition and/or
impairment of tangible and intangible assets), borrowing costs, the effect of
accounting treatments on earnings per share or ratios; the other an industry-based
question (NB: no specific knowledge of the particular industry is required) testing a
range of standards such as accounting policies and the framework, leases, grants,
IFRS for SMEs, reorganisations, provisions, events after the reporting period and
related parties.
Q4: a discussion question looking at current developments in corporate reporting
and problems with existing standards, such as classification in profit or loss vs OCI
(see exam team article), integrated reporting (see exam team article), revision of
the conceptual framework, regulatory issues over adoption and consistent
application of IFRSs, implementation issues, revenue recognition, management
commentary, application of the definition of control and significant influence (equity
accounting), improvements in performance measurement. Will also normally include
a related computational part based on figures from a case study.
One of these questions can also include elements of group accounting, especially if
question 1 is a statement of cash flows question
ACCA Exam tips June 2015 P7 BPP
We expect that the P7 exam in June will reflect previous sittings, with two
compulsory questions making up the majority of the marks on offer and a choice of
two from three optional questions. Remember, the compulsory questions will be
fixed at 35 marks and 25 marks for Questions 1 and 2 respectively, with up to 4
professional marks available in one of these questions for professional layout of
your answer, while the optional questions will score 20 marks each.
You should be aware that for exams from December 2014 onwards, the P7 INT