F5 – exam tips – December 2013 (BPP, LSBF, Kaplan, First Intuition, Opentuition)

Exam tips are out! Enjoy but do not rely on them.

BPP
Variances – mix and yield and/or planning and operational variances will be the focus of a variance question.
The exam will contain five compulsory questions, each worth 20 marks. The questions will usually be broken down into smaller requirements and be based on a short realistic scenario.
Given that at approximately 50% of the marks available will be for written requirements it is essential that you practice discursive questions as well as numerical ones when studying for F5. You should also ensure that you have learnt that advantages and disadvantages of various techniques so you are able to secure the easier knowledge marks.
The syllabus for this paper is very broad, an understanding of all areas is necessary to pass the exam. It would be reasonable to expect one topic from each of the five syllabus areas to be tested. The examiner has repeatedly stated that question spotting is not a suitable way to approach F5. She can and will test all aspects of the syllabus. The examiner expects students to have read the technical articles published in the Student Accountant relevant for F5.
Even with this in mind there are some general themes which crop up in most exams: variances have always been tested historically. Given the syllabus changes for 2013 it is likely that mix and yield and/or planning and operational variances will be the focus of a variance question.

Kaplan tips:
– Variances: Planning and operational variances
– Throughput accounting and TOC
– Learning curves
– Expected Values, Maximax, maximin and minimum regret
– Pricing Equations and Pricing strategies
– Activity based budgeting; rolling budgets
– Non Financial Performance Indicators
– Environmental Management Accounting
– Systems : open and closed systems

First Intuition
Throughput accounting.
Environmental accounting.
Limiting factors.
Relevant costs.
Budgeting techniques.
Flexed budgets.
Labour variances with learning curves.
Transfer pricing.

Becker Professional Education
Throughput accounting or environmental management accounting.
Linear programming.
Budget calculation possibly including activity based budgeting.
Variances, discussion of usefulness of budgets.
Divisional performance measurement including residual income

LSBF

1. Throughput accounting and abc
2. Linear programming
3. Flexible budget and learning curve
4. Mix and yield variances, planning and operational variances.
5. Divisional performance or performance in services

Opentuition

1 Target costing and Activity Based Costing

2 Linear programming

3 Variance analysis with Mix & Yield

4 Budgeting written question

5 Financial and non-financial performance of a division

De Monfort
* ABC.
* Linear Programming.
* Environmental Costing.
* Mix and Yield variances.

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Source: https://www.pqaccountant.com/

Very best of luck with your exams!
ansi