It was enough. It had to be enough.
Every Saturday, from 9 AM to 1 PM, he sat at his desk and wrote answers under exam conditions. No phone. No music. Just the slow, maddening hum of the air conditioner.
The June 2019 paper introduced him to Financial Instruments. IFRS 9—the nightmare of expected credit losses, amortized cost vs. fair value through OCI. He spent an entire weekend just on a single sub-part about a bond that was “held to collect contractual cash flows.” He drew diagrams. He made flashcards. He still got it wrong.
His glow evaporated.
The hall was sterile. Fluorescent lights. Rows of silent candidates. The invigilator said, “You may open your paper.”
The September 2020 paper brought Revenue Recognition (IFRS 15). A five-step model that felt like a five-act tragedy. A software company selling a license with ongoing support? Was that one performance obligation or two? Arjun argued with the past exam answer key. “You’re wrong,” he whispered to the PDF. But the key never whispered back. It only stated, cold and definitive: “The license and support are distinct. Allocate the transaction price based on stand-alone selling prices.”