Trang Chính
F5 Performance Management (PM)
Read each question thoroughly
Read the requirements carefully before launching into a full analysis of the scenario given, then do a brief technical download of the tools / knowledge you will need to answer the question. You can then go through the scenario more efficiently by annotating and extracting the information to complete the question.
For example, if being asked to restate a profit statement using an Activity Based Costing approach you will know that you need to replicate information that’s being given in the question and that will be your starting point as far as displaying your answer. From a technical point of view you also will know that the question must give information about cost pools and cost drivers – look for them to perform cost driver rate calculations.
Consolidate your theoretical knowledge
Consolidate your theoretical knowledge of all of the technical areas so you can pick up easy marks when it comes to discursive questions – i.e. being able to explain what Throughput Accounting is and what the advantages, disadvantages are.
Show your workings
Even if you make a mistake at the start of the question, you can still earn method marks.
Manage your time carefully
Make sure you give sufficient time to the written elements as well as the calculations. This paper is roughly 50% calculations and 50% words; although the majority of the papers to date have awarded more than 50% for written elements, so please don't ignore those!
Have a positive mindset
Focus on how much of a question you know and think you’ve got right rather than just focusing on the bits you don’t know.
The exam will cover all 5 areas but not necessarily a specific question dedicated to each area of the syllabus. However, this is the case in the past.
Variances are a very common topic
Every exam has some and you need to be happy with all the basic and advanced variances. They are all set methods and you just need to practice questions.
Performance Evaluations
Performance evaluations are another question type that 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.
Don’t ignore the discussion aspects
Discussion aspects are vitally important and are what separates F2 from the higher level F5 paper, and also separate students who pass from those who fail. For every number you calculate and method you use you need to know what it means and what has caused it. If you can apply basic common sense to most of the discussion aspects you will be fine
If you are struggling then ask your tutor and / or look back over your F2 notes as most methods were seen previously in F2.
FAQs
Q. If there's a linear programming question and I need to draw a graph, will I be given graph paper?
A. Yes.
Q: Are there any guaranteed topics?
A: No, although you can expect a question from each of the 5 sections of the syllabus - that's what has happened so far since the exam moved from 4 questions to 5, and it seems reasonable to assume that will continue given that, in this way, the exam will have tested as broad a range of skills as it can.
Q: Will we be examined on a topic which appeared in the previous exam?
A: Yes, it is possible, although maybe in a different context: e.g.: in one paper a question asked for pricing strategies relevant for an established brand, whereas in the exam 6 months later the question asked for pricing strategies which would be relevant for the launch of a new product.
Q. What is the percentage breakdown of the paper between written and numbers?
A. 50/50
Q. Why are some of the past paper questions 25 marks and some 20 marks?
A. ACCA changed the exam format in 2009.
Q. If I get a calculation wrong at the beginning of a question will I lose all the marks for my subsequent answer?
A. No. Each mistake is penalised only once; then follow through marks are given based on your incorrect answer.
Q. If I get to the exam late will the ACCA give me extra time?
A. No the exam finish time will not be extended for late comers.
Q. Where will I write my answers to the questions?
A. ACCA provide exam booklets to each student and additional booklets are provided if required.
Q. Do I need to show my workings?
A. Yes, definitely! There are many calculations in F5 and it is very easy to make an error on one calculation and then carry that mistake forward through the rest of your answer. If no workings are shown then the marker has no scope to award any marks at all. If workings are shown then you will simply lose the marks for the one initial calculation error.
Q. Can I pass by just learning the calculations?
A. No, the F5 exam can sometimes be as much as a 50:50 split with regards marks available for both the calculations and discussion aspects. Being able to write around the numbers calculated is vitally important. The good news is, the situations you will find in the questions, and the questions tend to be quite similar. For example, a question on variances and assessing the performance of a production director will usually centre around them having made very poor/good decisions so the discussion of this shouldn’t be too difficult.
Read each question thoroughly
Read the requirements carefully before launching into a full analysis of the scenario given, then do a brief technical download of the tools / knowledge you will need to answer the question. You can then go through the scenario more efficiently by annotating and extracting the information to complete the question.
For example, if being asked to restate a profit statement using an Activity Based Costing approach you will know that you need to replicate information that’s being given in the question and that will be your starting point as far as displaying your answer. From a technical point of view you also will know that the question must give information about cost pools and cost drivers – look for them to perform cost driver rate calculations.
Consolidate your theoretical knowledge
Consolidate your theoretical knowledge of all of the technical areas so you can pick up easy marks when it comes to discursive questions – i.e. being able to explain what Throughput Accounting is and what the advantages, disadvantages are.
Show your workings
Even if you make a mistake at the start of the question, you can still earn method marks.
Manage your time carefully
Make sure you give sufficient time to the written elements as well as the calculations. This paper is roughly 50% calculations and 50% words; although the majority of the papers to date have awarded more than 50% for written elements, so please don't ignore those!
Have a positive mindset
Focus on how much of a question you know and think you’ve got right rather than just focusing on the bits you don’t know.
The exam will cover all 5 areas but not necessarily a specific question dedicated to each area of the syllabus. However, this is the case in the past.
Variances are a very common topic
Every exam has some and you need to be happy with all the basic and advanced variances. They are all set methods and you just need to practice questions.
Performance Evaluations
Performance evaluations are another question type that 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.
Don’t ignore the discussion aspects
Discussion aspects are vitally important and are what separates F2 from the higher level F5 paper, and also separate students who pass from those who fail. For every number you calculate and method you use you need to know what it means and what has caused it. If you can apply basic common sense to most of the discussion aspects you will be fine
If you are struggling then ask your tutor and / or look back over your F2 notes as most methods were seen previously in F2.
FAQs
Q. If there's a linear programming question and I need to draw a graph, will I be given graph paper?
A. Yes.
Q: Are there any guaranteed topics?
A: No, although you can expect a question from each of the 5 sections of the syllabus - that's what has happened so far since the exam moved from 4 questions to 5, and it seems reasonable to assume that will continue given that, in this way, the exam will have tested as broad a range of skills as it can.
Q: Will we be examined on a topic which appeared in the previous exam?
A: Yes, it is possible, although maybe in a different context: e.g.: in one paper a question asked for pricing strategies relevant for an established brand, whereas in the exam 6 months later the question asked for pricing strategies which would be relevant for the launch of a new product.
Q. What is the percentage breakdown of the paper between written and numbers?
A. 50/50
Q. Why are some of the past paper questions 25 marks and some 20 marks?
A. ACCA changed the exam format in 2009.
Q. If I get a calculation wrong at the beginning of a question will I lose all the marks for my subsequent answer?
A. No. Each mistake is penalised only once; then follow through marks are given based on your incorrect answer.
Q. If I get to the exam late will the ACCA give me extra time?
A. No the exam finish time will not be extended for late comers.
Q. Where will I write my answers to the questions?
A. ACCA provide exam booklets to each student and additional booklets are provided if required.
Q. Do I need to show my workings?
A. Yes, definitely! There are many calculations in F5 and it is very easy to make an error on one calculation and then carry that mistake forward through the rest of your answer. If no workings are shown then the marker has no scope to award any marks at all. If workings are shown then you will simply lose the marks for the one initial calculation error.
Q. Can I pass by just learning the calculations?
A. No, the F5 exam can sometimes be as much as a 50:50 split with regards marks available for both the calculations and discussion aspects. Being able to write around the numbers calculated is vitally important. The good news is, the situations you will find in the questions, and the questions tend to be quite similar. For example, a question on variances and assessing the performance of a production director will usually centre around them having made very poor/good decisions so the discussion of this shouldn’t be too difficult.
