*** ACCA P5 September 2016 Exam was.. Instant Poll and comments ***

Left 8 marks because of time.

I struggled with profit and capital measurements. Anyone got that?

I kinda panicked after seeing the length of scenarios in part b. All three were massive with technical language used in describing about that company. It was hard to absorb information and understand the requirements in time constrained environment. I found it quite hard paper after looking at past 2 attempt papers.

I did the same conclusion. But I couldn’t do a lot of calculations. I took the number of calls not answered as a percentage of total number of calls. I compared the company with the other two on a couple of pounts. Couldn’t do in detail though.

Ahhh I thought to myself the VFM was the 3 E’s but then convinced myself it wasn’t…
That’s so frustrating!!

First time sitting P5 for me, so not entirely sure how harsh the marking is.

Q1 was tough. I’d hope for some decent marks for the Lean Info and CoQ/TQM. BS weaknesses wasn’t really an area I had revised, so just went with conflicting info and excludes external stakeholders whilst rambling on about the model. Capital Measurements was tough. Just made an educated guess. The performance measurements used / proposed didn’t really apply to maximising S/H wealth. I just threw out EVA and RI definition and moved swiftly on.

Q2 was Benchmarking, and it was basically the NHS vs Bupa from what I could make out. Some of the measures were relevant, but didn’t really have much time to suggest alternatives. The Bupa type firm was a poor fit, but the tax office call centre was obviously a good comparative – hopefully some easyish marks there.

Q4 was Transfer Pricing. I just applied the GAP mnemonic and tried to link to scenario. Then explained the weaknesses with a Market rate. Part (a) I’m convinced was missing a verb as the sentence didn’t read clearly. Was to do with CSF’s and KPI’s. Just threw whatever I could get down with 6 minutes to go.

Not super confident, but sitting P7 Monday was definitely to the detriment of this. Just praying it’s good news in October, sick to death of exams.

Good luck everyone.

@Minaa said:
Was lean info system about The 5 S model? For CoQ I wrote about cost of prevention, detection, internal failure and external failure.

I wrote random stuff about the BSC too. Also mentioned EVA and market share. I compared all the profits under the part that mentioned return on investments. And I wrote that taking just equity is not appropriate for the calculation of ROCE or ROI. As cost of equity is higher and secondly if debt is completely ignored the company might be tempted to take even more loans which will make its gearing position bad. For this same part I also mentioned Residual income.

I mentioned about VFM and 3Es somewhere in question one as well. :S

There will be people on here better placed to answer that.

I just thought Lean info was the Right Info > Right People > Right time by focusing on end-user, avoiding info overload and one other I’ve forgotten. I then linked it to an ERP system as I’m sure there was something on this in the Q???

For the capital question in part one i basically said it should be the profit before tax/(equity + long term debt) as PBT is the most accurate controllable profit answer. Gave few examples of using different profit figure or without including debt and how it can mislead investors and grossly overstate the ROCE perecentage

It was about ABC. I thought of attempting it but didn’t have much to write about EMA.

Thought Lean Management was about TQM, Kaizen costing and Just in time… All 3 used at once control and improve performance.

Didn’t do enough calculations and wasted too much time on number one.

Answered 2 and 4.

I always compare Benchmarking with Performance prism in my head, almost similar but BM doesn’t not take into account stakeholder satisfaction and contribution. So mentioned that as a negative.

Time pressure was an issue.
Question 1:
Problems to implement BS
Problems with given KPIs
Profit and capital employed – different calculations implications
TQM
Lean system

Question 4
Benchmarking in healthcare call center answer to meet objectives
VFM
Comparision state-owned and private call center performance.

Question 2
Transfer pricing oriented to external market
Current transfer pricing policy
Impact of new CSF (buy almost internally)

Question 3
ABC + KPIs

As question 1 took most time, I had to skip question 3 only because it looked lengthy.
Completed 60% of question 2.

My second attempt. After exam, it seems not as difficult as seemed before. But as usual it was difficult what the examiner wants.

Time pressured paper, part 2 questions scenarios are long.

@tinusunit said:
Thought Lean Management was about TQM, Kaizen costing and Just in time… All 3 used at once control and improve performance.

Didn’t do enough calculations and wasted too much time on number one.

Answered 2 and 4.

I always compare Benchmarking with Performance prism in my head, almost similar but BM doesn’t not take into account stakeholder satisfaction and contribution. So mentioned that as a negative.

I don’t think mentioning performance prism was a good idea as it was taken out of the syllabus for this sitting