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i dont mind the examiner putting his own style on the paper, but VBM for 8%?
CSF/PI’s – 15% ? big marks for v specific (small) parts of the course. it was a dirty paper, i felt like i could have got as much marks without studying than i did with all the hrs i put in..no MIS, no Strategic mgt accouting, no public sectot/private sector, no transfer pricing …..i felt like this was a v theoretical exam. this is supposed to be a practical paper. Not anymore. i ended up waffling off the top of my head. horrible
yes Q1 i just could not think of PI’s for the “increase customer satisaction”, i ended up with surveying customers leaving cinema, and complaint level on website (rubbish).
never ever heard of “building/monitoring”. i prsume building meant building the company thru mkt share/mkt growth so i wrote about increasing being more attuned to customer tatstes and mkt share thru diversifying into new film genres etc? waffle. monioring being control activities?? could be way off..
i said analysing sales and cosy figures for profitabilty which was a v limited answer too.
Q2 – made a mess of the ABC calc, couldnt work ouw what to do with admin of prod, so costs were way off. did ok on why beyond buget would be good for the comp i think : non stdised product, quality differentiator etc so absoroption costing is not suitable…etc
Beyond Budgeting was ok too.Q3. EVA – calc was v basic, i thought i was doing something wrong it was so straight forward.
take the profit add back interest, work out WACC and cap emp and bingo. 3 mins work.said EPS was based on accounting profits and these can be manipulated and Share price is volatile and based on lots of factors outside comp contol so not a great measure.
VBM – all i said was a focus on value added activies, and get rid of non added value etc..went thru examples of how it would help the comp.
Q4. Z scores / Failure
this was fine too, qualitative/quantitaive was ok, analyse the calcualtion given was ok too. just talked about z score failing in 2 of 3 years, that z scores are all called with TA in the denomiator, when TA increased rapidly the Z score will fall.
i said it doesnt take into a/c the future revenue generation potential of the comp as they have just invested in new machies etc.. (not sure how right i am). talked about gearing and WC too here.over all Q1/Q2 v poor maybe 25/60, hoping for 25/40 in other 2 Q’s
fingers crossed for that, its going to be a tight one.