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My time management was way off 🙁
Section A was OK I guess, I struggled with the payoff table asking you to provide two values that would fit the grid. Section B was fine up until the concert question came up… I got a margin of safety of 85%. Things went a little worse when it was asking to give the profit figures after break even is considered whilst excluding the private booths… I knew the formulae perfectly yet I couldn’t get back to the numbers provided. I had to end up rushing because I spent just over an hour on section A. Section C was crazy, a question on Balanced Scorecard, I knew it had something to do with Kaplan and Norton’s model, sadly I couldn’t remember it with the time pressure. The 16 mark question on Non financial performance measures came as a shock. I put in 2 bullet points with the measures which I thought might be relevant and that was it! The last questions on section C related to expenditure budget (I managed to submit something whilst excluding the depreciation charges as I recalled from an old paper not to include it in expenditures… but I maybe wrong), incremental budgeting and zero based. I managed to write a paragraph under each of the discussion parts but it may not be enough to get a good mark. I was hoping for more calculations but alas the worst came to pass…I put in one disadvantage for incremental budgeting, in that it builds upon past inefficiencies and then I moved onto suggesting using a zero based approach for arriving at better costs, this might have not been in the scope of the question. The last part on zero based budgeting, I could just about describe it but I’m not sure if was enough. Well I’ve learnt a lot from the experience. It would have been easier if they gave me a question on ABC costing or Lifecyle or the topics that I focused my revision on! Even a EMA question would have been a blessing… They should give us noise cancelling headphones, I hated the keyboard bashing noises… kept getting distracted. Oh well, you live and learn, sure I’ll pass it on my next attempt!