Two tablespoons of P2 before bedtime each night...

Scoring possibly 30% on the specimen paper is not good. But it could have been worse, since I didn't really think it would be so tough.

Those guys weren't kidding when they said everything will be tested, and anything too, all the way from C01 to P1 and P2 as well. Now you don't just get by making calculations, you need to know the deeper logic, rationale and mathematical, logarithmic inner workings of all the concepts you've ever come across by now.

You need stamina to go through the whole wringing process but the good part is that if you're some kind of management accounting guru by now you can simply:

1) quickly and comprehensively grasp the specific requirements of each question

2) analyze the scenario sharply and observantly, with a reasonable depth of understanding

3) use your vast management accounting and commercial sense to recognize what the problem is and what the appropriate solution is

4) rattle off relevant principles, theory and argumentation to supplement your answers

5) work mechanically at doing all those workings you can do in your sleep by now

The best way to have prepared for P2 would probably have been to eat, sleep and drink P2 at least four months previously and have had enough batting practice, and diligently + regularly too, to score a century, to be sure to at least get half way.

Since that is not the case, I can depend on hope and some hard work.

Exam Paper strategy for P2:

1. Move fast, be highly conscious of time-ups

2. Make sure you read everything in 20 minutes, then go on to the closer examination, starting with the most technical questions worth the most marks

3. Understand your role in each question and what you need to do

4. Don't be worried if you can't remember the jargon, use sound commercial reasoning at every step and keep moving

5. Know the following topics inside out with plenty practice:

- fundamental principles such as relevant costs and sharp analytical skills in ratio analysis, getting down to business immediately recognizing problems and likely explanations

- standard costing, ABC and marginal costing/ absorption costing like the back of your hand

- optimization, learning curves, major pricing strategies with their applicability in the product life cycle and everything to know about variances as easily calculated as taking a deep breath

- transfer pricing methods, calculation, together with divisional performance measures, budgeting behavior and common problems and likely solutions any time of the day

- knowledge of all concepts and linkages with enough argumentation to support a discussion within 2 seconds of being asked

One area of consolation is that once you have somehow entered the 'zone', P2 is not much different from that English language test you took earlier: it's basically a test of your comprehension of detailed complicated information you need to provide an analytical answer for - reading sharply and being poignant in your answers.

Questions are very rarely straight forward so care should be taken to read carefully, absorb the material and apply yourself brilliantly.

I'm going to need a whole of praying to get through this one too. As luck has it, the paper is on Eid Gadir and I don't think I can manage to fast on the day of the exam and be open grilled on a spit at the same time. Maula Ali madad!