Question practice

That should give you enough practice. Note the change in style of questions that took place about three years ago when the examiner changed. The original examiner set very numerically complicated questions (esp question 1); the new style has less heavy computation.

Further help is available if you buy a BPP revision kit. They have nearly all the recent questions and usually give hints as well as their answers.

Remmeber, the name of the paper is Advanced Performance Management and everything is aimed at how performance can be improved. Consider the following:

First, performance has to be defined and that can mean going back the the organisation’s mission.

Usually it is imporrtant not just to define good performance in terms of financial results. Good non-financial performance is often what will lead to good financial performance (though in not for profit organisations, good non-financial performance is an aim in itself).

Think how non-financial and financial performance can be mesaured and the information best presented. That will let management take sensible action.

Make sure you know how to do EVA and that you understand transfer pricing. Also the non-financial models such as Fitzgerald anf Moon, the Performance Prism etc.

We have an analysis on this site showing the topics that came up in the P5 exams. One way to improve is to do some reading-up/revision then try some of the relevant questions, seeing how they use the particular data in the question to create the answer.

HTH.