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Hello,
Can someone explain to me what the main difference is between the ‘Plan and control performance’ and the ‘Monitor performance’ requirements – both under the management accounting header. I have looked at the individual elements and they both sound very similar, my answers are both concentrated around budgeting so a lot of repetition.
Also for the ‘Tax computations and assessments’ section – I currently do the VAT return at work, is this relevant for this header – or is this more if you work purely in tax?
Thanks!
If you download the Performance objectives booklet from this page https://www.accaglobal.com/gb/en/student/practical-experience-per/performance-objectives.html you will see “Linked exams” below the of performance objectives to exams. So, for example, on page 11, if you didn’t come across planning, control and monitoring in Management Accounting – you could look to some Performance Management materials for a clue https://opentuition.com/acca/pm
In short, you plan what’s going to be done (FUTURE) – you control what’s being done (PRESENT) – and you monitor what’s been done (PAST).
On page 12 you will see details of the taxation POs – suitable involvement in preparing VAT computations could cover elements of PO15.
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