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It was good – time management was the key.
Topics that come up:
Q1 Evaluate performance management report and KPI’s Changing role of the management accountant Data warehouse
Q2 VBM EVA
Q3 JIT TQM
Not a bad exam. Easy marks for EVA and cost of quality
I have 3 questions in specific.
In the EVA calculation do you subtract the reduction in allowance in NOPAT and add the value of allowance it was at the beginning year to capital? Also what EVA did u guys get
What exactly was to be written in VBM?
Why was there no question from corporate failure?Overall the paper was lengthy but doable with a few challenging topics.
Was there a specific format for the cost of quality report?
@chintanshah1992 said:
It was good – time management was the key.Topics that come up:
Q1 Evaluate performance management report and KPI’s Changing role of the management accountant Data warehouse
Q2 VBM EVA
Q3 JIT TQM
Not a bad exam. Easy marks for EVA and cost of quality
The 4 headings were given. So I just bifurcated the costs in a statement and gave it heading – cost of quality report.
@manthan007 said:
Was there a specific format for the cost of quality report?The 4 headings were given. So I just bifurcated the costs in a statement and gave it heading – cost of quality report.
What did you guys put for Q2A? Implement VBM step 2. also for the last question quality report did u exclude item such as labour cost and material cost as they are productions costs? or did you include them as quality ?
What did ppl get as eva? I thought that was a fair paper but could have spent hours on question 1
I actually totally messed this paper up. VBM & EVA were the killers for me due to not doing much revision on these areas so it’s my own fault.
The quality cosy question was easy, due to time I moved on with the plan to go back and do it quickly and completely forgot.
100% resit for my last exam, so disappointed. Tried to rush the studying to avoid doing the exam on the computer. Oh well
I got EVA as ($40,000) which i don’t think is correct. Struggled with the VBM question too.
Annoying as this was easier than i anticipated.
@borisdmello said:
I got eva as 0, anyone else?Me too!
I added the interest, took off tax paid and the tax saving on interest, adjusted for the provision change and added the marketing. Then added the 500k to the opening ce
@jennie1984 said:
Me too!me too
i got something like $(330) for EVA
NOPAT
operating profit
less: tax benefit on interest
less: cash tax
less: provision (as it was a reduction)
add: marketingCapital employed
add: b/f provisioni did not adjust the capital employed for the marketing as we are using the b/f capital employed.
Generally, the exam looked very fair. I did all the questions one by one, leaving 2a (VBM) till the very end – was afraid to get stuck on it otherwise. Got back to it just 10 minutes before the end, so I think I miss this part totally. Hope the rest of question will bring enough marks to pass – they all looked manageable. Good luck to everyone!
hits123 – I got ($220) for EVA, because I adjusted for $300k in the Capital calculation (full amount of the doubtful debt rather than $200k.
The EVA question wasn’t as detailed as I thought it might be…..and didn’t have a clue how to talk about why it wouldn’t be appropriate for the Company (think I mentioned family business and might not be bothered about cost of equity).
VBM I flunked!!!
Think I did okay on the JIT part (reliance on suppliers, appropriateness of new KPI’s, reducing appraising and increasing quality checks early in the process).
Data Warehouse and role of management accountant…..a bit waffly!!!!
Yes opening capital employed. Ignore marketing spend but adjust for the overall provision at start of year. Thats what I did.
Very positive feedback on poll
I thought the management accountant burns and scapens 3 parts was very specific!
Q1
A. I discussed positives and negatives of current report in the light of goal and objectives.
B. Discussed new KPIs again taking into account objectives and goals.
C. Burns and Scrapens model. Very easy marks.
D. Benefits I used the three Vs and better coordition. Negatives i put danger to bug data costs, compliance, theft etc
Q2
A. VBM WTH????
B. Easy EVA calculation. I made a mistake of not adjusting for bad debts provision ob balance to capital. I deducted bad debt provision reduction from NOPAT cos it ls a credit to P&L
Q3
A. I did not use a model so just structured it with main headings of urchases and production with changes as sub headings in both sections. There were too many marks available considering the changes needed from scenario. Unless i missed a few points
B. Easy marks for quality costs. Hint was already on the appendix for those who didn’t remember what the breakdown is.
If i dont pass I will probably kill someone haha
Good luck to everyone
Q1) Done really well. Knew how to deal with a) report evaluatiom, b) assessment of KPI d) Data warehouse.
What came as a surprise was c) which was relevant to burns and Scapens and honestly despite not have reading it, I did it correct. Really reading the scenario given was the key
Q2) Done fine as well. Did b) first, was able to calculate EVA, but a bit confused on the adjustments needed. Oh well did what was needed. Explained the difficulties and done
A) did it at the end with some further explanation of VBM and explaining 1) and 4) well
Q3) a bit of overwheling with both JIT and Quality cost interlinked. Did b) first and calculated the quality cost well and also linked with revenue and explained.
However a) couldnt explain.
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