Blog Item

Global Examinations Tips(GET) to Pass ACCA Paper F5- Performance Management

drglenbrown

 In this blog we will focus on the potential topics areas  and key skills that are essential for passing the upcoming ACCA Examination for Paper 5 - Performance Management.

Global Examinations Tips(GET) to Pass ACCA Paper F5- Performance Management consists of the following:

  • General Guidance on Key Skills
  • List of Key Topics to focus on
  • 15 Audio Visual Lectures
  • 17 Key Questions with Audio Visual Solutions and Strategies

The following are some of the key skills that are essential for passing the F5 exam:

1. Understanding the reasoning behind calculations and how these calculations will be useful to management:

  • Questions that are testing a management accounting technique will always try to make the link between the technique and its use as a performance management tool.
  • You must make sure that you have revised the syllabus thoroughly by using our Interactive eBook and have the knowledge required of these tools.
  • You must make sure that you are applying your knowledge to the information in the question and using evidence from the scenario in your answer.
  • You must practise the written elements of questions in full doing the GAC Monotoring Test and Mock Examinations, as this is where the examiner will test your understanding of the scenario and performance management implications of the question.


2. Managing your time effectively and identifying easy marks available:

  • The examiner has previously pointed out that there will be easy marks available in the exam and students who answer these parts of questions usually perform well.You must attempt all questions in the Examination allocating 1.5 mins per mark.
  • Students who do not manage their time and miss easy marks are making it much harder for themselves to pass the exam.
  • You must make sure that you are using your reading time effectively to identify any parts of questions that you can easily tackle and plan the order in which you will answer questions in the exam.


3. Reading the question and understanding the requirement:

  • You must read the question very carefully and identify the instructional verbs used, remember there may be more than one thing to answer within each requirement. You must use the mark allocation to work out how much depth you need to go into in your answer.
  • Make sure that you are answering the question set not the one that you would like to answer.


Common pitfalls pointed out by the Paper F5 examiner include:

  • Students failure to make the step up from F2 to F5 - this is due to a lack of ability to interpret the calculations performed with reference to the scenario given.
  • Poor interpretation of data - this would be due to lack of planning and understanding the requirements of the question.
  • Poor technical knowledge.


Make sure that you are always thinking about these key skills during your revision and that each time you practice a question you are thoroughly reviewing your answer afterwards to identify if you need to work on any of these areas.

Our Pass Master Revision Series will help you with the above key skills. Please check on the schedule timetable at:

http://www.globalaccountancycollege.com/course_page_303.html


 

 

TOTAL Responses2

gacdrglenbrown

 17 Key Questions with Audio Visual Solutions and Strategies

The 17 Key Questions are now available via Global Examinations Tips(GET) Master Mock Examination(MME1)

Regards,

Dr Glen Brown



drglenbrown

 Focus on these Key Topic Areas for June 2014 Examination

  1. Activity Based Costing
  2. Absorption Costing Vs Activity Based Costing
  3. Merits and Criticisms of Activity Based Costing
  4. Target Costing- Implementing target costing
  5. Pricing Decisions- (This could be part of Question #1)
  6. Decision Making under risk and uncertainty- (eg. Apply the techniques of maximax, maximin,and minimax regret to decision making  problems.
  7. Linear programming
  8. Quantitative analysis and behavioural aspects of budgeting-( This is a wide area so see my target questions for this item)
  9. Variance Analysis- ( Preparing Operating Statement showing budgeted profit, planning and operational variances,calculating price,usage,mix and yield variances)
  10. Performance Measurement- Financial Performance Indicators(FPIs), Non-Financial Performance Indicators(NFPI), Balanced Scorecard, and the Building Block model proposed by Fitzgerald and Moon

It is very important that you complete all the sessions in our Interactive Ebook from F5-01 to F5-18 and understand the principles and applications of all the techniques and sit all our Mock Examinations which will cover all the above key areas.

You can create your own "Examination Blog and post all your questions on your blog and our tutors will help you in all areas.

Believe in yourself. You can pass this Examination if you work hard and remain focus.

Please remember, the heights by great men reached and kept, were not attained by sudden flight; But, they, while their companions slept, were toiling upward in the night.

Regards,

Dr. Glen Brown,Ph.D,CTA,AP

President & CEO

Global Accountancy College(GAC)

 



Leave A REPLY

You must be logged in to post a comment.