ACCA P5 Exam Tips September 2017 session given below are just intelligent guesses from exam point of view provided by famous tuition providers. These exam tips must not be relied on totally. To increase chances of success in Exams you must prepare full breadth of syllabus and topics.
ACCA P5 Exam Tips September 2017:
ACCA P5 Exam Tips September 2017 Session are given below by famous tuition providers
Answer the wordy bits first, provided they don’t depend on calculations you’ve not yet done. This paper awards approx 70% of the marks for discussion, and 30% for calculations.
Watch your time management when doing the calculations. Although they are not technically complicated, they can be time consuming. Lots of practice before the exam means you should be reasonably efficient at these parts in the exam, although you may well take more time than the 1.8 minutes per mark you should theoretically allow. However, if you realise it is taking too long, make up some numbers, move on and use those figures as the basis of your discussion as you’ll get the follow through marks on that basis.
In recent exams Q1 has often required a significant level of data analysis using numerical techniques, eg KPIs, EVA. You are aiming to turn data into information NOT to produce complicated calculations. Nevertheless any numerical techniques in this paper (eg transfer pricing, ratios, analysis of quality related costs, ABC) need to be mastered.
Performance management frameworks (eg building blocks, performance pyramid or the balanced scorecard) are also commonly tested in Q1. You must understand the purpose and limitations of these models and must ensure you can apply them in a practical way.
Q2-4: In section B commonly tested areas include quality management, information reporting (eg CSFs and KPIs), the application of strategic models (such as PEST, Porter’s 5 forces, the value chain), HR frameworks (eg reward & appraisal systems), risk management, and environmental management accounting.
keep checking the ACCA website for articles in the lead up to the exam (eg recent articles on complex business structures, big data, integrated reporting and performance management models (BCG & 5 forces).
- KPIs linked to stakeholders/mission.
- Maximax, maximin.
- Corporate failure.
- Link between IT systems and KPIs.