Need Solid Advice for P5 Exam Preperation

Hi Dear Students and Tutors,

I need solid advice regarding how should I plan my studies around passing P5. I have been put off by some comments and majority of students talked about P5 that it is was impossible for them to achieve a pass in their first attempt.
I have a huge Gap in my ACCA Studies I am a registered ACCA student since 2003 I had to abandon my studies in 2007 due to personal issues after passing ACCA Part 2 studies and I recently resumed studies with ACCA again and had no problem in passing P1 I scored 51 after being attempted only 70% of the exam and this September I wrote P3 exam and I think I have done reasonably enough to secure a pass hopefully. I have no experience whatsoever in F5 because this paper did not exist back into the days when ACCA qualifications was divided into parts and I got exempted from this paper I think on the basis of 2.4.

I need a solid advice now how should I approach towards my chances of success in passing P5. I know its need a lot of analysis and application and analytical skills for passing P5 but how far its important to have a grip on F5 underpinning knowledge for P5. I don’t want to use any study text either theres’ lot of theories in there to learn which in my view is not very effective technique for approaching towards P5 success top of that I don’t really don’t have time I work in Retail sector 12 hours shifts and 4 days a week and I get only 2 days off to spent with my kids.

I can however spare 2-3 hours for study almost everyday. Passing P5 has become a challenge for me after seeing so many comments that students had to sit in so many exam session before getting a pass. This is quite contrary to my experience so far regarding ACCA studies I could remember so may CAT qualification papers in which I passed without reading any course material or attending any college and my background was in Engineering. I however keep a close eye on ACCA articles on ACCA website same in Part 2 exam I never tried very hard and even had secured a pass by devoting only 4-5 hours to study text before the actual exam date. Only time I failed a paper when I was absent on the exam day. Also for P1 I only devoted a modest amount of time per week and passed it with ease I did tried in P3 because first time in my ACCA studies I found a subject so interesting which I actually found very interesting and exciting to go through. I don’t want to go for P2 yet or P6 because I am ready for complex kind of numbers yet but I do have a strong interest in P5 and I find it interesting because performance and performance measurement is what we talk about very often in our company which I work for. Please help me out in overcoming my fears regarding passing this paper I would be greatly discouraged if I ever have to fail in any of my written exam part of this is because of the time gap between exam and the exam results and if you find out that you have failed and you have already spend 13 years of your life thinking about ACCA and again one step back its just disastrous. Advice fro tutors will be highly appreciated.
Thank you sorry for reading out a long post