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Does anyone remember numbers in Q4b? It was $1 difference in material cost due to supplier issues and $2 (or $1?) due to poor procurement?
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@ds3ce That sounds like a good idea and one that i shall use for my resit!
I should have put down what i thought instead of over thinking it and wasting valuable time!
Q1 asked for 3 new performance measures using the info given in appendix 1 didnt it? Which is why i couldnt get my head around what to use. My obvious choice would have been the online sales measures but as they always say to ‘answer the question asked’ i disregarded these. Maybe i fell into the classic trap of not reading the question carefully too!@klaudiuszfp said:
Does anyone remember numbers in Q4b? It was $1 difference in material cost due to supplier issues and $2 (or $1?) due to poor procurement?I did double check the amount by subtracting quantity variance amount from total variance and it was $3.0 per kg…
(actual quantity – standard quantity)*standard price*production quantity = total quantity variance
(520-500) * 21 * 350 = 147.000
(actual price – standard price) * actual quantity * production quantity = total price variance
(24-21) * 520 * 350 = 546.000
total variance in material given in the scenario was 693.000
@princess16 In Q1) i) I used the headings “Purpose”, “Audience”, “Information” and “Layout” to evaluate the performance report. I made sure I kept referring to the report, because students often mix it up and end up evaluation the company’s performance, not the report and why the report is good and why the report is not good enough.
So basically in Q1) i) we had to write down the positives and negatives of the report , where highlighting the negatives (missing measures which would measure the important areas of performance, i.e. critical success factors) . I used the above 4 headings to make my answer more structured. Under the Layout for example you could mention the presentation of the performance measures. Here I was talking about how confusing the performance report was, difficult to understand, difficult to read, I suggested improvements in form of using less measures to draw the users/readers’ attention to the truly important measures, i.e. KPIs relating to CSFs and I suggested the use of graphs and charts to make the report easy to read, easy to understand even by non-financial people because not every shareholder or director in the board will have finance background. I was gonna suggest the commentary to be included despite the fact the CEO said they will explain the meaning of the report’s content at the board meeting but then I was running out of time so forgot to jot this down as an extra point.
So once you evaluated the report under i) , then under ii) you had to suggest 3 new measures which of course had to tackle the issues highlighted in i). Here is where I didn’t write much and did zero calculations as a justification. I left Big Data and everything, moved on to Q2 (did all of Q2) and then did half of Q4.
Heaven knows if I will pass…. This was my 3rd attempt. I did practise soo much. I know this paper for me is now down to just pure luck and exam technique, nothing to do with lack of knowledge.
@princess16 said:
@ds3ce That sounds like a good idea and one that i shall use for my resit!
I should have put down what i thought instead of over thinking it and wasting valuable time!
Q1 asked for 3 new performance measures using the info given in appendix 1 didnt it? Which is why i couldnt get my head around what to use. My obvious choice would have been the online sales measures but as they always say to ‘answer the question asked’ i disregarded these. Maybe i fell into the classic trap of not reading the question carefully too!No I think you’re right. I wanted to put down online revenue / total revenue but since the question asked to calculate the suggested measure and there was no information about online sales in the appendix, I ignored this and chose revenue / floor space and some employee ratios.
@ds3ce said:
@princess16 In Q1) i) I used the headings “Purpose”, “Audience”, “Information” and “Layout” to evaluate the performance report. I made sure I kept referring to the report, because students often mix it up and end up evaluation the company’s performance, not the report and why the report is good and why the report is not good enough.So basically in Q1) i) we had to write down the positives and negatives of the report , where highlighting the negatives (missing measures which would measure the important areas of performance, i.e. critical success factors) . I used the above 4 headings to make my answer more structured. Under the Layout for example you could mention the presentation of the performance measures. Here I was talking about how confusing the performance report was, difficult to understand, difficult to read, I suggested improvements in form of using less measures to draw the users/readers’ attention to the truly important measures, i.e. KPIs relating to CSFs and I suggested the use of graphs and charts to make the report easy to read, easy to understand even by non-financial people because not every shareholder or director in the board will have finance background. I was gonna suggest the commentary to be included despite the fact the CEO said they will explain the meaning of the report’s content at the board meeting but then I was running out of time so forgot to jot this down as an extra point.
So once you evaluated the report under i) , then under ii) you had to suggest 3 new measures which of course had to tackle the issues highlighted in i). Here is where I didn’t write much and did zero calculations as a justification. I left Big Data and everything, moved on to Q2 (did all of Q2) and then did half of Q4.
Heaven knows if I will pass…. This was my 3rd attempt. I did practise soo much. I know this paper for me is now down to just pure luck and exam technique, nothing to do with lack of knowledge.
It seems like I have done quite wrong on evaluation of performance report and recommendation of new measures. I suggest divend growth, market position ranking and share price growth. What do u think?
Does anyone know how and if the link theory works? i understand its for those who just took their final paper…..please enlighten me
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@ds3ce i did pretty much the same as you, although less structured in Q1 which is really annoying as i practiced a few ‘evaluate the performance REPORT’ .
Did a calc using revenue/no of stores but couldn’t figure out how this could be of use so not much justification.
@Gabor, thanks! I shall be keen to see the examiners report, and answers if they publish them.@ds3ce said:
@princess16 In Q1) i) I used the headings “Purpose”, “Audience”, “Information” and “Layout” to evaluate the performance report. I made sure I kept referring to the report, because students often mix it up and end up evaluation the company’s performance, not the report and why the report is good and why the report is not good enough.So basically in Q1) i) we had to write down the positives and negatives of the report , where highlighting the negatives (missing measures which would measure the important areas of performance, i.e. critical success factors) . I used the above 4 headings to make my answer more structured. Under the Layout for example you could mention the presentation of the performance measures. Here I was talking about how confusing the performance report was, difficult to understand, difficult to read, I suggested improvements in form of using less measures to draw the users/readers’ attention to the truly important measures, i.e. KPIs relating to CSFs and I suggested the use of graphs and charts to make the report easy to read, easy to understand even by non-financial people because not every shareholder or director in the board will have finance background. I was gonna suggest the commentary to be included despite the fact the CEO said they will explain the meaning of the report’s content at the board meeting but then I was running out of time so forgot to jot this down as an extra point.
So once you evaluated the report under i) , then under ii) you had to suggest 3 new measures which of course had to tackle the issues highlighted in i). Here is where I didn’t write much and did zero calculations as a justification. I left Big Data and everything, moved on to Q2 (did all of Q2) and then did half of Q4.
Heaven knows if I will pass…. This was my 3rd attempt. I did practise soo much. I know this paper for me is now down to just pure luck and exam technique, nothing to do with lack of knowledge.
I have learned about the performance report in technical article too like, purpose, audience, info layout, but I was stuck and could not think of this during exam. I just wrote whatever came to my mind if report looked good in bad with what?
Beside the aim, does anyone notice about it’s strategy like investment in new tech and small web presence. I think this could be mentioned to evaluate the report too.
I sat P 6 UK variant for 3rd time. If I did not passP 6 this time I would go for P 5.
P 7 was done very easily by me, so I do not understand why P 7 has this low pass rate.If someone studied both P 4 and P 5 which one from them you would recommend ?
@princess16 said:
@ds3ce That sounds like a good idea and one that i shall use for my resit!
I should have put down what i thought instead of over thinking it and wasting valuable time!
Q1 asked for 3 new performance measures using the info given in appendix 1 didnt it? Which is why i couldnt get my head around what to use. My obvious choice would have been the online sales measures but as they always say to ‘answer the question asked’ i disregarded these. Maybe i fell into the classic trap of not reading the question carefully too!I felt the same during the exam and wanted to highlight the need to adopt performance report to new CEO’s plan to achieve aims of the company…therefore even there was no data given, I provided formula to be used in order to calculate two the measure I provided, web-based generated revenue % and investment in technological developments % within total capex…my third one was revenue per floor space…I’m very curious about how it would be evaluated…
@bukenya said:
Remeasures,Revenue per square…use of floor space
Profit per square….use of floor space
Revenue per employee….productivity of staffDoes these measures address the current problems at Chiven? I think you u should suggest measures to address current problems at Chiven on dividend growth, dropping ranking, like that.
@ds3ce I totally agree with you about the paper. I failed in March with 47 due to poor time management as you had this time and that’s why I did question 2 first and when I had the exactly same problems with you in question 1, I jumped to big data and then did question 3 so I left with 80 minutes for the last 35 marks of question 1. Then I wrote down all the bullets for the report and I made few assumptions for the new measures to propose without the pressure that I need to rush. I managed to write 15 bullets for the report and two measure proposals which I don’t even know if they are correct but what I want to say is just be flexible and follow what you feel it works better for you.
I hoped the lesson learnt last time helped me out this time. If not, I’m changing to P7 as I’m not going to gamble again to guess what the examiner wants for my last paper.
Good luck to everyone
As long as we could justify on our writing points, and relate them to the scenario, examiner will not fail us. I do hope I pass worth my justified points above.
Good luck to all!
…using data in Appendix 1
Which is quite confusing confunsing and if read literally means that measures such as market position, share of online sales and other related to innovation and external environoment will not score well. Data in appendix 1 was mainly finacial performance and internal operations
What did you write in Q1c performance measures and systems to simplify supply chain using value chain?
This was confusing subquestion for me. I proposed 2-3 measures such as time to market and wrote sth about abc costing nad BPR to simplifying processes but I am not sure whether that was what the examiner meant@klaudiuszfp said:
…using data in Appendix 1Which is quite confusing confunsing and if read literally means that measures such as market position, share of online sales and other related to innovation and external environoment will not score well. Data in appendix 1 was mainly finacial performance and internal operations
@klaudiuszfp said:
…using data in Appendix 1Which is quite confusing confunsing and if read literally means that measures such as market position, share of online sales and other related to innovation and external environoment will not score well. Data in appendix 1 was mainly finacial performance and internal operations
Exactly, well said.
@kelkar said:
I sat P 6 UK variant for 3rd time. If I did not passP 6 this time I would go for P 5.
P 7 was done very easily by me, so I do not understand why P 7 has this low pass rate.If someone studied both P 4 and P 5 which one from them you would recommend ?
If you like numbers go for P4 as it’s a straightforward paper. The syllabus is huge but it’s doable.
@boma77 said:
If you like numbers go for P4 as it’s a straightforward paper. The syllabus is huge but it’s doable.How about P4 and P7? Which one should i go for? I was an external auditor before, so i cannot decide which one to go so i can finish my ACCA. Please recommend.
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not sure if at all this is my paper
@bukenya said:
Revenue per square is so correct…it’s a retail company ….floor space is an asset….u are measuring efficiency…Does this new measure address the current issues at Chevin?
As far as I am concerned, new measures should be those to address the current issues. Dont you think so?
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