SBL*** ACCA P3 June 2017 Exam was.. Instant Poll and comments ***

Q1 Models given in questions (PESTEL, 5 forces) + bits on KPI, CSF and Integrated reporting Q2 Fin analysis performed on accounts of software house (primarily ratios) + 5 factors that affect selection of software house (apart from costs) Q3 5 factors that make project work different from routine undertakings + value of PID, BC, project report... in the context of given scenario

Which are the main factors of chosing software(q2)?Furthermore has anyone answered q4? Any ideas?

I thought Steve gave us a very fair exam indeed. No excuses for failing this one, it was the fairest P3 I have seen given all the mocks and past papers I practiced. Q1 was indeed a PESTEL analysis but only using four elements of it. You also had to give the meaning of PESTEL and its value. This was for 18 marks. Same thing again for 5 forces for another 18 marks. Then discuss CSFs, KPIs and integrated reporting and their role in monitoring and setting strategies. I done Q2 and Q3. Felt I let myself down a bit in Q2 by not reading the requirements careful enough especially the 15 marker. I kept referring the SOP rather than the supplier and have to go back and correct as much as possible. Q3 was decent. Q2 was financial analysis for 15 marks and non-cost associated factors to be considered when selecting software for 10 marks. Q3 was all about projects. What makes the project in the case a project rather than a regular routine for 5 marks and then you were asked to suggest how PID, business case, Project plans and Risk analysis can all be used to ensure the success of the project for 20 marks. Barely looked at Q4. Can remember it asked some elements of the Marketing Mix and that is all. Here's hoping for the best in July.

Assumed software choice relates to the company you are sourcing it from (risk from liquidity), if it fits the requirements SOP needed it for, security features (encryptions, protection from Malicious hacks etc.), staff reaction (training provided, resistance from implementing it i.e. is it difficult to use). Those were the ones I put but there should be plenty to choose from and explain.

@dpsarros said: Which are the main factors of chosing software(q2)?Furthermore has anyone answered q4? Any ideas?

For part b q4 I wrote a mix of skimming and related product pricing. Related because: -they are a unique type of business and also sell batteries for their cars, So they can use customer perception as well as like charging 10% for batteries of price of the car hence they need to consider that. Also they had varying specs like metallic Paintwork etc so they could offer different variant prices for sports car -They are looking to differentiate, get into a niche so they are likely to have higher costs which may demand higher prices -Competition is also there within industry so they need to add their unique design and features which they've been known for and thus charge premium price -They are selling to enthusiasts who may pay premium price for their requirements and within the segment there might be varied related product tastes and thus may need to put in varied prices for related variants of sports car and also have to charge higher price as evidence of quality they offer to enthusiasts.

Aye thought Q2 (b) could be passed on common sense alone really if you've even used software or chose software in work. Did it ask for just 5 factors specifically? I can't remember. I knew so much about this I went wild and put down 12 non-financial factors I could think of and why they matter lol. Good thing I didn't run over my time because I may have wasted some of it there.

Fair exam, actually mentioned the models to use in Q1.) (PESTLE and Five forces) relate them to the case and explain how they impact the company and how they give them value (helpfulness I assume). 2.) 15 marks for financial analysis, basically show that company has declined in terms of profitability, gearing has risen etc. but is relatively efficient in terms of current ration, payable & receivable days. Think you needed only a couple of these indicators and then explain if this makes the company a risk from insolvency. 10 marks for picking software package so 3/4 points to make. 3.) Project Management, 5 marks for explaining what a project is and how it differs from routine activities performed by the company. 20 marks for 4 documents, explain what they are and examine why they are needed for project success.

rogman228, Nah no specific number. As it was 10 marks assumed that it would be maybe 2/3 marks per explained point so you will get most marks available

@jevery1990 said: rogman228, Nah no specific number. As it was 10 marks assumed that it would be maybe 2/3 marks per explained point so you will get most marks available

Ah okay. Yeah you're right. I went wild a bit and made too many points lol. Thankfully no damage done as I attempted 100 marks.

Another thing on Q1 it asked you to relate the factors discovered in PESTEL back to the company's strength and weaknesses. So if they have strong customer service as a strength, then this could help them the social factor of the 'green customer' becoming disillusioned with Supermarkets. It was also to be in report format so To and From and a date, introduction, management summary and a conclusion for professional marks.

Thought question 1 was OK with the pestle and porters, Question 2 I didn't like that the software company didn't seem in too bad a state, it would have been easier if they were worse, I found profit ratios had worsened but receiveable and payable days had improved, main concern was that they had both increased long term debt and cut back much of their work force, I thought this suggested they may have used their savings in wages and dent finance to pay off their large payables. Anyone else take this line? Software focused on Fit for purpose, ease of use, security features, compatibility with other systems, strength of software company for maintenance and updates, training Q3) Said difference of project was one off not planned business, different from main strategy, to take a new unforseen opportunity Then I described each stage of the project, what I found hard was relating it back to the scenario which question asked, didn't much like their project, also got confused as I thought the business case was part of the PID not a separate document

Kevin - I said something along the same lines for Q3. It seems Itrus may have taken out debt finance and used most of their cash to pay off their large payables balances. This massively improved payables days from something like 231 to 35. I summarised by saying they may have spent 2016 trying to get into a better financial position which would set them up for a better 2017. As the others said...very fair paper. Would be surprised if I failed.

Sorry I meant Q2 in my reply above.

what was the format of question 1 was it a report?.or just write about?

@seancollins14 said: what was the format of question 1 was it a report?.or just write about?

It was a report for full professional marks. You could still get two out of four marks maybe if you still used clear headings and had a good flow to your answer.

Q2 part b could answer using Sidmore & Eva's requirements for assessing software i think. Anyone used that model? Q4 i think pricing strategies referred to Bowmans clock? I think what did you use?

When the paper is quite ok its scary. The passing rate still will be around 48-50 % no matter what. Pestel and 5 forces are tricky and they were 36 marks out of 50. For q3 I also wrote in the risk analysis the risk avoidance, acceptance, transfer, mitigation. Did anybody else mentioned those?

Q2 part b could answer using Sidmore & Eva’s requirements for assessing software i think. Anyone used that model? Q4 i think pricing strategies referred to Bowmans clock? I think what did you use?

@acca3336 said: When the paper is quite ok its scary. The passing rate still will be around 48-50 % no matter what. Pestel and 5 forces are tricky and they were 36 marks out of 50. For q3 I also wrote in the risk analysis the risk avoidance, acceptance, transfer, mitigation. Did anybody else mentioned those?

Yeah I mentioned the use of TARA in risk analysis and it will help the project succeed by eliminating the guy who was worried about participant's injuries concerns for example by identifying the biggest risks and ones to avoid. I also mention RA will help show them what could go wrong but maybe should of mentioned more about signs that it could go wrong. I agree it is scary that most seem okay with the paper lol. I think Q1 was a lot harder maybe than people think. Now I think of it there was some sneaky things in the requirements and the case study. But if you put the work in it was still more than a fair exam as nothing too difficult came up.

•Expensive •Reliability of supplier as not liquid •Receivable days r more of so it means not having good management to control its function •it's difficult to have after service updates for system coz .... •property plant and equipment r sold and long term borrowing increased by software provider so may b soon they will go out of business and as a result having negative impact on our organisation Moreover it's not for profit organisation so just for basic data no point for huge invest ment I am not sure but I wrote something like these

do you only lose 4 marks if you did not write a report for question 1

@seancollins14 said: do you only lose 4 marks if you did not write a report for question 1

Yes that is the most you will lose. I would say you will lose 3 but it could be that you only lost two. Depends how you still went about answering the question. Like did you use clear headings and stuff.

@kudra said: Q2 part b could answer using Sidmore & Eva’s requirements for assessing software i think. Anyone used that model? Q4 i think pricing strategies referred to Bowmans clock? I think what did you use?

Yes they could use strategic clock for pricing. Hybrid for its other models and differentiation or focused for sports cars. For part c: They could promote it using sports car events sponsoring them, sports car magazines and forums . It will directly hit the enthusiasts and build brand image and let it grow. Also they can provide physical evidence by having test drive for sports car as well as giving a sample to have reviewed from some famous personality, It will boost up perception, encourage differentiation and promote product's quality. For placement they need to retail directly on their showrooms and displays, Also for the fact that their technical team would be available there to guide enthusiasts over the quality of the car, it's specifications to ensure that it grows up well and customers are properly aware of what they are offering different.

Rogman228 for risk mitigation i wrote that the event manager should invite at least 2 celebrities guests (it was mentioned in the scenario) to mitigate the risk of inviting only one and not showing up. Then i wonder why i failed this paper twice hahaha

@acca3336 said: Rogman228 for risk mitigation i wrote that the event manager should invite at least 2 celebrities guests (it was mentioned in the scenario) to mitigate the risk of inviting only one and not showing up. Then i wonder why i failed this paper twice hahaha

Haha that is a bit funny xD. But at least you applied what you were saying to the scenario, that's the right track. I just think the guy who was worrying about injuries to participants was a better example. But sure look you get zero for writing zero so you wrote something down to backup your point better than doing nothing at all. The alternative is you write nothing and you are guaranteed to get nothing for that.

Yes...i mentioned TARA....each and one and a small explication...hope this helps in getting some marks

@chullbulla said: For q2 . Part b I thought that its realed to SOP as was last few minutes. I mentioned about fixed assets and long term loanetc in part b instead of part a. Will I get any marks? Also I panicked last minutes and even forgot the ratios formulas for example for ROCE i used REVENUE/CE instead of PBIT/CE and messed up calculation. But based my commentbon that will I get any marks?

You're not alone there my friend I also left part (a) until after (b) here and mentioned SOP instead of the supplier in the financial analysis. But I realised my mistake, crossed out SOP and added some extra brief comments. I got most calc formulas right and talked about their implication. Even if you got the calc wrong it's only like half a mark for getting the figure right at most. What they mean is far more important. I was told markers have their own 'OFR' button (own figure recognised) which they use to consider your incorrect figure into the marking system so you don't receive double punishment for getting the figure wrong. As long as you made sense with the concerns your incorrect figures raised, then you will still score the best part of the marks.

I thought question 1 was great, Pestel, portmans 5 forces etc, didn't have issues. For part B I decided to go for Q3 and Q4. For Q3 I've personally not been a fan of the project management topic but I was able to dish out what I hope was a half decent answer. For the last part threw in Tara for risk mitigation, put in some stuff about health and safety risks. For Q4 I see a couple of you guys mentioning strategic clock its the one model I forgot about :(. I talked about Porters generic strategies of differentiation and cost leadership and said they had to be somewhere in in-between.

Q1.a. combination of PESTEL and idnetifying strength and weakness. a weird combination. Tried my best to apply the knowlgde in scenario. q1.b. porter five forces. q1.c. combination of CSFs, KPIs, integrated reporting. Weird combination again. that was tough. q2.a analysis of present and previous FS of a supplier, a software company. q2b. knowledge level question q3. a. knwoledge level question q3b. tough one business case, PID, project plan, risk analysis. picking points from scenario is too difficult.(my opinion) q4. a.advice electric company how to attain, priced based, differentiation, lock-in (another weird combination). got scared. q4b. forgot

Q4 i used 4 c for pricing...customer competitors, customer company s objectives...