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Hoping so much that I have passed, this is my last one !! It will be close though, got bogged down in question 1 and ran out of time !! Questions weren’t too bad, I found it hard to put into words without also answering the other parts and repeating things.
my fourth attempt, and by far the more crucial in terms of time management. the paper was very lengthy FINGERS CROSSED.
started with question 4 and spent so much time. I tried all my best to answer directly from the questions and now only the marker can determine if I made sense. I think it will be hard to develop marking scheme for this kind of questions. In my opinion, there is no one answer.
ok-ish paper.. Too lengthy, but that is expected with this paper.
Q1 part 2 – give a practical example was kind of confusing since we were told specifically no mention of performance measures..just scribbled down some points.. hopefully good enough for a pass..
i thought Q4 was the easier of the others. lengthy but was more to the point..
when compared to questions like “what is balance in a balanced scorecard”? -_-
@boringaccountant said:
i thought Q4 was the easier of the others. lengthy but was more to the point..when compared to questions like “what is balance in a balanced scorecard”? -_-
Balance is building a blend of financial and nonfinancial objectives and kpis to encourage long term company success.
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“What is Balance in Balance scorecard” somebody help me with that. Never seen it in the approved study material. Why can’t he just ask to Explain Balance scorecard directly.
@hampine said:
“What is Balance in Balance scorecard” somebody help me with that. Never seen it in the approved study material. Why can’t he just ask to Explain Balance scorecard directly.See my post
I thought the question asked what is balanced about the balance scorecard.
I.e. it forces a company to widen their viewpoint and consider more than just financial motivators, taking into consideration other factors that influence a companies ability to generate profit, such as using external information and non qualitative information in 4 key areas, which should all be interlinked.
Maybe something like that
On the last part of question 4 there was data for cost of cocoa per ton, were we supposed to do anything with it or just ignore it? I didn’t use it when calculating the expected value.
It felt like we were supposed to do a sensitivity analysis but it was hard to work with cost per ton when you were given millions of chocolate bars, I just ignored it, did anyone use the info?
I had taught it was probability, along the line I discovered it wasn’t, but continued to use it as if it was…really tough determining the risk appetite.
Balanced in a sense that it’s covers areas that are crucial to the saucess of the company…fp,cp, l n g, business process
I attempted Q 2 & Q3 from the options but timing was an issue . Hoping to pass & become an affiliate as this is my last paper .
Wishing you all the best !!!This Balanced in balancescore card was about surprising as such or similiar question wasn’t asked before.
I wrote something along those lines too.
This paper has a spread of focuss on analysis / generation of performance measures. I did feel like I was repeating similar / same answers in later parts of Q1 & Q2.
Q1 & Q2 also had a heavy focus on the BSC perspectives. Q1 26 marks BSC, Q2
Q1b (9 marks) & Q2b (7 marks) – What did people cover /write? I guessed ideas tbh
From my brief review of Q4a/b it looked like it was to do with descions under uncertainty (maximal, maximum etc…) – Correct me if I’m wrong.
I started with Q1, however time management was an issue due to taking soo long actually complete.
What did everyone else do?
p.s. this is my 6th attempt at P5
Thoughts on Q2? Didn’t like it focusing only on threats of new entrants for so many marks. Then to evaluate the Kpis suggested by the auditor, was tricky. I basically evaluated each against the 3 csf suggested by the company and think I found mainly bad points for each, this what you all did?
It was an annoying exam for me, I had all models and ratios learned inside out, better than I have done for any other exam, but my application isn’t so great, you don’t get a chance to just show what you know, never get to just describe then apply a whole model the apply to the scenario. Tough exams for me but answered Q1 well think, hope enough to get through. Good luck all.
what you wrote for 3 KPIs to monitor the threat of new entrants in that gardens question? i think it was question 2?
and what what were the risks associated with implementing loyalty program?
@kevikraze said:
Thoughts on Q2? Didn’t like it focusing only on threats of new entrants for so many marks. Then to evaluate the Kpis suggested by the auditor, was tricky. I basically evaluated each against the 3 csf suggested by the company and think I found mainly bad points for each, this what you all did?It was an annoying exam for me, I had all models and ratios learned inside out, better than I have done for any other exam, but my application isn’t so great, you don’t get a chance to just show what you know, never get to just describe then apply a whole model the apply to the scenario. Tough exams for me but answered Q1 well think, hope enough to get through. Good luck all.
I did similar analysis for Q2 on auditors KPIs but the question stated we shouldn’t provide positives and negatives on KPI’s.
There were three parts to question (2):
i) Benefits of analysing the new entrants and developing KPIs to monitor the threat of new entrants
ii) Conflict between KPIs (designed by them)
iii) Risks associated with implementing loyalty programme.
Q1 –
A) balance scorecard, I wrote about brief overview of balance scorecard, further as far I understand. Balance scorecard is balance because it addresses financial and non financial measures such as innovation and customer perspective. It suited to industry in question. Because they operated in competitive n dynamic market. Where key to succes was innovation and customer satisfaction rather than merely financial objectives. Hence balance scorecard address theses concerns.B) practical implementation challenges of balance scorecard.
IT infrastructure
Culturtural awareness
Staff training
Project lead to oversee the successful implantation of balancescorecard implementationD) commented on performance measures chosen in Appendix one, if they address the reporting requirements at strategic level monitoring and control.
C) I think was about implementation of balance scorecard –
Comments on usefulness of measures selected for
Financial prospective
Customer prospective
Internal measures.Just general analysis if it fit the purpose in line with company objective, industry n future monitoring and control.
It’s all a blur now and Q2 and 3 have merged in my head
for the loyalty program I focused on the scenario mainly, they lost customer data before risk of same again, Investment was 4M and revenue only 1.5 risk of failure if not a success, Can’t monitor purchases in restaurant so can’t tell how many points are being used and therefore can’t estimate how successful the scheme is, How to process information I.e useless if system not able to process and interpret. Also useless if can’t establish process of validating the info, useful info must be Accurate, complete, timely ect. If not then wrong decisions will be made on it ect. Think these were some of the points I made
Q3 –
A) Discussed Benefits of non financial reporting information for non profit organization in line with organization mentioned in exam.
B) 3Es Analysis – value for money . Efficiency , Ecomomy n effectivess by comparing and analyzing information provided in Apeendix . There was a question in BPP revision kit around it.
C) Organisation was following budget constrained style, as actual Doctors salaries od 3.65m same as budgeted. At expense of bad service provided. That’s why it had implications. Delay in customers, 1568 repeated customers etc .
Q4- Time pressure, had to rush on it.
A) – Benefits n usefulness of Risk n Uncertanity Analysis followed by PEST analysis of risk organization facing n how to diversify it if possible.
B) General comment to chose option 2, As shareholders were high risk takers n Board was risk averse. Hence option two was medium. As option 1 was low risk n option 3 was too risky.
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