I got a mark of 96 for IFA2 in Semester 1 2018.

This note contains a summary of lecture notes, textbook readings, difficult problems from tutorial preparation/in-class questions & practice exams (since it is always better to prepare for the unexpected).

I used tables and diagrams to make it easier for you to see the big picture of each topic. For exam purposes, I combined some topics and summarized them together to look like exam formats. I also tried to put as many explanations as possible to help you understand IFA2 back-to-forth. Specifically for "Consolidation" - one of the hardest topics in IFA2, I have made an outline of what steps you should follow, what each entry means and what items you need to tick off for each step.

I hope that this will help you score an H1 (probably even higher than 96) and you will enjoy IFA2 as much as I did.

Best of luck with your study!

Topics covered include:
1) Reporting obligations & Conceptual Framework
2) Fair Value Measurement
3) PPE & Asset Impairment
4) Tax
5) Lease
6) Revenue
7) Financial Instruments
8-9-10) Consolidation
11) Investment in Associate
12) Disclosure issues


Semester 1, 2018

69 pages

21,069 words



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