AVC LEARNING SOLUTIONS

The ACCA P2 (Corporate Reporting) syllabus contains many IFRS, and also consider the relevance of ethics for an accountant. It is however true that the ACCA P2 examination is predictable like any other ACCA examination. The broader guidelines issued by the ACCA suggest what is likely to be tested in different sections, especially the mandatory question on Consolidated Financial Statements. A few areas are commonly tested, thereby making the students exam ready with more focus

Recognition Criteria Under IFRS 5 IFRS 5 provides that the asset under consideration must be available for immediate sale in its present condition subject to terms that are usual and customary for sales of such assets and its sale must be highly probable. Immediate sale Example: AV Ltd owns a building where it runs its branch sales office. Due to change in business operations, the building is not required by AV Ltd. The building is agreed to be sold in its present condition t

The accounting for Share Based Payments is usually complicated. This, however, is relevant considering the fact that many entities have started providing compensation based on equity shares in the entity itself to the employees. The accounting for Share Based Payments has many aspects - one of the most relevant aspects is vesting conditions - whether these are service based or performance based. How the change is measured in the financial statements and the accounting done fo