ACCA F5 Exam Tips September 2015 session given below are just intelligent guesses from exam point of view provided by famous tuition providers.
After introduction of MCQ’s in ACCA F5 and other skill level papers, it is now important that you should prepare each and every area of syllabus thoroughly to maximize chances of success.
These ACCA Exam Tips will help you in questions other than MCQ’s while MCQ’s can come up from any area in exam so in order to get success you must cover the breadth of every topic and syllabus.
ACCA F5 Exam Tips:
ACCA Exam Tips for F5 Performance Management Paper for September 2015 session are given below by famous tuition providers
MCQ’s can come up from any syllabus area so cover the breadth of every topic.
ABC, Life Cycle costing, Target Costing and Throughput Costing are very commonly tested topics while Environmental costing is rarely tested.
Usually there are two questions from this area. Commonly tested topics are
– Relevant Costing
– Cost Volume Profit Analysis
– Limiting Factor
– Make or Buy Decisions and other Short term decisions
– Dealing with Risk and Uncertainty
There are two questions from this area. Variances is more commonly tested topics while Budgeting is also tested off and on. Every exam has some variances in it and could be basic or advanced variances.
Performance evaluations is another area where questions always come up – very hard to learn a set method as each one is different. The important thing is to read the question carefully and make sure you link your analysis to the scenario. The examiner does not like students who simply quote from the textbook, writing information that is not relevant to the question. The examiner also likes you to have an opinion – has the company done well or not? Clearly state your opinion and reasons why.
20 multiple choice questions which are worth 2 marks. The MCQs will largely be knowledge based and will balance out the questions in Section B to make sure that all aspects of the syllabus are examined. There will also be calculation questions.
Q1 – Q3: Three 10 mark questions. These questions can test any of the four syllabus areas. The questions could be broken down into sub requirements and will usually be based on a short scenario.
Any syllabus area could be tested here – it is best to study all areas of the syllabus.
Q4, Q5: Two 15 mark questions which will usually be broken down into sub requirements and be scenario based. The examiner has stated that these questions can only test syllabus areas B, C and/or D.
Areas expected to be tested in questions 4 and 5 include planning and operational variances, mix and yield variances and evaluation of the company performance (either as a whole, or on a divisional basis).
Where questions are based on a scenario it is essential that you use the information in the scenario to make your answers relevant.
At the beginning of the exam you are given 15 minutes “reading and planning” time. During this time you can read and annotate your question paper and so this is a perfect chance to make notes next to the information in the scenarios of things to include in your answer.
During this time you could also make a start on the section A MCQs – you are allowed to use your calculator during the reading time and as there is no credit for workings you will only need to copy across the correct letter once the exam starts.
Finally the examiner has repeatedly stated that she expects students to study broadly for all of the syllabus areas meaning that question spotting is not a good idea, instead students should expect the unexpected. Since the introduction of section A questions this advice is even more critical because more topics can be tested.
– Target costing.
– Life cycle costing.
– Cost volume profit analysis.
– Limiting factors.
– Flexed budget and budgeting discussion.
– Financial and non-financial performance
Manchester Metropolitan University (MMU)