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As you already pursuing MBA, do what was suggested above.
In the mean time look at previous exam papers and listen to opentuition lectures.
The exams are very practical, so completely different from Indian exams which is based on rote learning, also be careful as it involves huge costs, so after doing previous papers if you feel confident, do it after completing your MBA.
See the link given below, which may be useful to you.MBA holders can seek advanced entry to CIMA by sitting the CIMA master’s gateway assessment exam (CMGA).
If you pass the CMGA exam, you will be granted 11 exemptions from CIMA’s certificate, operational and management level exams.
Once you pass, you can start studying for CIMA’s strategic level exams. You will also be awarded the CIMA advanced diploma in management accounting.It depends on your knowledge and confidence, open tution notes is just to get over all scan of the subject and if you feel confidence you can directly go and solve previous papers, if you feel you R unable to solve, then there is something wrong with your knowledge, which you must acquire.
I myself completed all professional level papers using just opentution notes with examiners articles and past papers, but I am a qualified professional accountant from India with two master degrees and Completed CIMA exams before writing ACCA exams.Marker will give marks for valid points, if there are 5 marks available and if you write more than worth 5 marks you are wasting time. Use time for thinking then you automatically reduce quantity for quality which creates value to your paper.
At P5 one can choose their own analysis, the examiners answer is just a guidence and you are just right .
The flow is
To achieve strategy and objectives we require critical success factors
and to measure the CSF we require performance indicatorsfirst find out variable cost
At 60% it is going to produce 6000 units (60% x 10000) cost is 11280
at 100% 10000 units cost is 15120
variable cost is change in cost due to change in production = 15120-11280/ (10000-6000)=3840/4000=0.96Then fixed cost = total cost – variable cost
at 10000 units
total cost is 15120 and variable cost is 0.96 (calculated above) * 10000= 15120-9600=5520
cross check your answer, fixed cost is same at any level of production so to check is 5120 is right do the same step for 6000 units at 60% capacity
total cost 11280-6000 x 0.96=5520 so you are right
now you have fixed cost of 5520 and variable cost per unit of 0.96 so i feel you can do the rest for any kind of capacity.hoping u r a p4 student, then acca video from the below link is useful. Which states how to use normal table during the video
https://www.youtube.com/watch?v=y-c_Dgvit8Q
see also the bottom link on opentution and also search for value at risk if you really want for that on opentution
it depends on question, if you expect your returns to flow from year end take it end of year, if they are expected flow from beginning then you have to take it from beginning.
In exams time is scarce,please don’t waste time by writing questions, you won’t get any marks so for each 1.8 minute you have opportunity lose of 1 mark.
In India there are few opportunities for both ACCA and CIMA, that too in MNC’s and big 4. It is dominated by CA and ICWAI which are statutorily recognized.
I am ACMA from ICWAI and work for public sector I had done CIMA and ACCA due to passion.
Just follow your passion and earnings will follow and not vice verse.
Lakshmi always follows saraswathi and not vice verse.This was posted just to help some if it helps, nothing more.
I felt it is better to clarify your doubt so that what you said blessing is right, but funny to say is wrong.
I passed CIMA when I am healthy,young (33 years) and fit, and I written all my ACCA exams with high fever, some what old (40 years) and with out proper sleep.
I am from Hyderabad and got job at Bangalore which is 700 kms away and I was home sick and started to lose my sleep.
I started ACCA just to keep my self busy, but not able to do so, I used to travel every friday evening to Hyderabad on train just to have some sleep on Saturday night and leaving to Bangalore on Sunday night to attend my office on Monday.
I lost my sleep cycle and was totally miserable during exams.
And this time I had used sleeping pill to get some sleep so that I can at least write exam. The problem is it is drowsy, and I was struck.
And for your information I cleared all my ACCA exams without having any study material, and just through opentution and opensource materials like past question papers and articles. This is just to prove to myself that one can pass professional exams with out study materials also.
and to the question why ACCA after CIMA, I had an option to go for either dipIFRS or ACCA to learn IFRSh in dept, I felt it is better to take ACCA. As it gives me additional professional qualification with learning of IFRS and Financial management in depth and ACCA is more preferred to my profile as an internal auditor with over 7 years experience.
ACCA provided with depth in quantitative skill where as CIMA provides with depth in qualitative skills.In addition read examiners articles and past papers with answers, the real problem is how u apply the knowledge, not how much u know, which u can assess only when u attempt past exam papers.
So suggestion is go through Opentution tution first then attempt past question papers and see answers, with one good point one mark.
I myself passed p1,p2,p3,p4,p5 without any study texts, just by doing what I though u above.
regards
someread slide 21 of examiners guidance, he says changes in accounting standards has minor effect on this paper. I feel it may be enough. If u know some one check with them if they have new book.
There is lot of material available on ACCA website itself, past question papers and articles are quite good. They provide you with confidence which none of the study texts can provide.
Prepare for recent IFRS updates using some good websites.There is lot of material available on ACCA website itself, past question papers and articles are quite good. They provide you with confidence which none of the study texts can provide.
The above notes is quite good in addition to that we can say that misrepresentation is a fraud were as misinterpretation is not.
Sir,
What u said is exactly right and I know it, but my question remains, If the exam question states “Depreciation is the same amount as needed to maintain operations” or “It is assumed that the annual reinvestment needed on plant and machinery is equivalent to the tax allowable depreciation”.
then your second answer “However, if tax has been calculated on the operating cash flows, then you do need to add back the tax saving on the capital allowances.”. Holds good or not. I had seen in some past questions the capital allowance was not added back as answered by you. That’s why I am in doubt.
regards.
Sorry if I had not posted question properly
somayajulu