Hi all,
Specifically to those in the BCom (majoring in accounting) who did IFA2 (ACCT20002) in 2017, could you please provide a quick recap of what was covered (i.e. if it is similar to previous years, if it really is centred around debits and credits like IFA1, stuff like that)?
Cheers
Hey,
I completed IFA2 Sem 2 2017. There is a debit/credit component to almost every topic, with the final exam testing your ability to replicate general journal/consolidation journal entries for around 50-60% of the marks.
In terms of topics covered, consolidation spans 3 weeks, and every other topic is maximum one week. Some of the topics include: Fair value, revaluations, leases, financial instruments, revenue, investments in associates and foreign currency translations. These topics are all similar to previous years, however some accounting standards (such as revenue) have been updated over the last few years.
If you have any other questions feel free to let me know