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Thank you OpenTuition for all the resources. I used your stuff only in my last attempt of APM exam preparation. Passed with 58%. This was my 3rd attempt at the paper, so to those who didn’t pass – Don’t give up. Regroup and try again.
A fair paper. I read the examiners report late the night before and say the previous exam was on a Public Service entity for Q1.
Q1. Dealt with CSF and KPI, Value for money, League Table. Why CFS differs from the objectives. Explain Value for money and link with the CSF and KPI, also assessment of the performance table, The use of NFPI and its appropriateness to DP and finally the difficulty in implementing the League Table for the Deeland Police.
Q2. Disadvantages of Benchmarking using the occupancy level and comment on the Press release statement and its accuracy when compared to the results on performance
Q3. Perform a calculation of variable cost of the two products and analysis of the ABM cost pools and the issues with implementing ABM at the companyFailed with 46 marks, this was my third attempt, I previously got 36 in June and 38 in Dec 2019.
This is my last exam and I am not giving up, I am so close. I would just like to remind everyone who failed, to just remain positive, revise, do exam questions over and over, and expand on areas you didn’t fully understand.I was feeling positive after the exam and answered all the questions fully, but what I wrote wasn’t good enough. It is all a learning experience, we need to push ourselves further.
Most exams are cancelled for June, so we have a lot of time to regroup and prepare for September.
Congrats to everyone that passed!!
@awogbod2 said:
thank you. It is my second time actually. I really hope we get a nice surprise in 6 weeks. Im fed up of these exams hahha!Fingers crossed.!!
Q 2- Focused on VBM and EVA. However the problem that faced the company was increase competition. The competitors were catching up in terms for cost per unit and quality. I discussed according to the four areas given in the scenario (setting targets and indicators, setting time frames etc.)
EVA calculation was simple, you could have stared with operating profits or profit after tax as suggested by OpenTuition online lecture on APM. And finally discussed a few disadvantages including its usefulness in terms of this company using it as a performance measure.
Thanks OpenTuition – I used all materials to prepare for this exam, including of course lost of past exam papers.
Q3- The JIT was implemented by the customer, and we had to suggest changed in the supplier production and distribution process in order to facilitate this process. Areas of improvement mentioned were:
– Quality of course of the raw-materials as there were 4 vendors supplying raw materials, one had recently supplied questionable in quality and quantity.
– Production changes form a large batch to as per order from the customer, mainly because the large batches led to stock obsolesce due to the dress been seasonal and maybe out of fashion.
– Changes also would be need in technology, management information system and also changes to performance measures to measure quality, as there was a 5% return rate of damages, i think.
Cost of quality was easy, i also excluded cost of materials and labour as the scenario did not mentioned if these were higher quality materials or newly trained staff. I did had a zero prevention cost and suggested investment in this areas to reduce external failure cost where were very significant.
@ awogbod2 – I really hope you pass as well. This is my last paper also but the third time sitting it.
q1 – (ii). additional performance measures. I did not do TSR, I ignored it like it was never there. The other calculation was easy. For inventory days, Inventory was given in the appendix and COG (Revenue – GP). The ROCE calculation give around 35% for each year. Inventory days was about 31 days and Receivable days was about 3 days.
(i) – Most of the performance indicators did relate back to the company mission and strategic objectives, however not all. Eg. the indicators was not clear how the company measured – increase individual spending. There was a measure that measure the percentage of individual spending but this only indicate that these were one off and the company had a difficulty getting customer to make additional purchases- and this raises questions such as Are customers satisfied with the overall service?
The ROCE and Profit measure did measure growth, but not sustainable growth for the shareholders. EVA suggested.
Finally, the performance report should have been benchmarked against other online retailers instead of internal bench marking, as this type would be probably acceptable from an operational perspective.
Changing roles or management accountant was easy. Didn;t remember who the hell was Burns and Scapens – But i did highlighted and discussed all of the same factors, – increase competition, technology and strategic focus.
I thought that the big data investment was too expensive to undertake, giving the cost of $50, which will need software to process this data and maintenance cost, in addition to the company previous experience, which it had non. So it was a high risk undertaking for the company.
I excluded the TSR calculation as if it didnt exist. lol But did the rest of calculations.
I totally agree with you hassan, i feel i was better prepared to answer these questions in the exam. i think i did much better than my last attempt. But only time will tell.
Having showed up at the wrong venue and arriving late and only completing 75% (2 out of 3 question) of the paper, AND 5 previous attempts – I am so happy to say I pass with 53 marks, not much but ill take it.
After all the info given in Q 1, i decided not to read the entire thing. So As i was answering the question i read a little in order to get the audit risk and moreover, answer the requirements.
For Q 2 – Provision and Contingent Asset
The error correction in the question was incorrect; In addition to recognize a Liability and a contingent asset, the error also affected the Statement of Profit or Loss; therefore Dr. Expenses Cr. Liability and Dr. Contingent Asset & Cr. Other income of 1,200,000.
12 marks, the first part abut the KAM and its benefits and expectation gap was for 8marks.
They were so many misstatements in question 1, i think i got carried away and ending up braising for time at the end.
Q1 B. what other info would be needed to carry out analytical review? i wasnt sure if they were asking about each risk or in general.
Q.1a Material Misstatements – Current assets – Inventory
– Development cost
– Interest Exp did not change although a new loan
– current tax did not change although different reported profits
– all expense grouped under operating expenseOn the pricing suggestion I made reference to Porters’ generic pricing strategy, but I didnt get to finish my answer bec of time.
