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Mr. Moffat has predicted for this time “budgeting – written question. ” Well, this may be right and I wanted to tell everyone, including students using old textbooks for F5 that make sure you are familiar with the additions of the F5 exam for 2013 syllabus. The additions are as follows:
E 1 Performance management information systems
a) Identify the accounting information requirements and describe the different types of information systems used for strategic planning, management control and operational control and decision-making.
b) Define and identify the main characteristics of transaction processing systems; management information systems; executive information systems; and enterprise resource planning systems.
c) Define and discuss the merits of, and potential problems with, open and closed systems with regard to the needs of performance management.
E 2 Sources of management information
a) Identify the principal internal and external sources of management accounting information.
b) Demonstrate how these principal sources of management information might be used for control purposes.
c) Identify and discuss the direct data capture and process costs of management accounting information.
(d) Identify and discuss the indirect costs of producing information.
e) Discuss the limitations of using externally generated information.
E 3 Management reports
a) Discuss the principal controls required in generating and distributing internal information.
b) Discuss the procedures that may be necessary to ensure security of highly confidential information that is not for external consumption.This is a totally new area of the syllabus and if Mr. Moffat prediction does come right, then there are high chances that any one of the above topics may crop up in the written question. Only too often has the examiner tested on rolling budgets (Dec 2012) and zero based and incremental budgeting (2013 June). So if you’re expecting these usual topics to come up in the exam this Dec, you are wrong!
Such new topics, mentioned above will come. In fact, Kaplan have predicted “open and closed systems” to come up and this is a new area so make sure that you cover all the above new added topics in your F5 revision. They have a high chance of coming.
Good luck!!
well…
i have an older book…where i can read these topics???
are there any calculations or numeric working???relax. I was just intending to make you more prepared. I’m mite even be TOTALLY WRONG and nothing mite come. So don’t think my advice is 100%. NO! BUT IT IS LIKELY TO COME.
NO IT’S TOTAL THEORY AND BASICALLY IT’S JUST F2 STUFF! (THINGS LIKE WHAT TYPE OF INFORMATION IS NEEDED AT STRATEGIC, OPERATIONAL LEVEL, ETC… _)
Thank you for warning! Unfortunately, I cannot answer the question directly, i am using the old book, but have already downloaded the new update. May be I made mistake,
(If you have already prepared the answer for the new topics, could you also send me one! Sorry, just if you have, I do not want to bother you! : ) )
Thanks a lot !
It is ridiculous to pay too much attention to tips – wherever they are from.
There will almost certainly be a budgeting question – it is one of the five syllabus areas.
However, there are several things that can be examined in a budgeting question. I think it is likely to be mainly written and if so is likely to be on behavioural aspects. (Performance management information systems are NOT part of the budgeting section of the syllabus).My own feeling is that the performance measurement question is more likely to be asking for the financial and non-financial performance of a division. However tips are only ever guesses, and she could ask about the information systems (although I would be surprised if it were to be more than one part part of a question (written only, not calculations).
All current Study Texts cover this part of the syllabus, and our Course Notes have a short chapter on it.
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