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Dear Lecturer,
I am attempting P3 and P5 on september 2016. This is my 1st attempt for both the papers and I am doing self study so Im depending on OT notes, lectures and study guide.
Im very sure that we cant use the same writing pattern for both P3 and P5 when answering questions.
Could you please advise me on how to structure answers for P3 and P5 and how to differentiate answers between P3 and P5 and what are the do’s and dont’s when answering P3 and P5 questions.
Your feedback would be really helpful for exam preparation.
Highly appreciate your feedback. Thanks in advance.
I’m not sure what you mean by ‘writing pattern’.
For both you have to answer the question asked, using the data and scenario information provided, in report format if that is required. I don’t know what you mean by differentiating the answers in P3 and P5: answer structure is driven by the requirements.
For both you should write in paragraphs of two or three sentences, with each paragraph dealing with one point.
Don’t write in ‘bullet point form’ ie bullet point, one or two words. That does not succeed in explaining things in enough detail
Thanks for your valuable advise. It helps me alot.
What I meant was that P5 cannot be answered the similar way like we answer P3. I heard that many people have failed P5 because they have answered the paper like P3.
So how should P5 be differentiated from P3 in terms of answering questions? Hope you could understand what I meant.
Thanks in advance
As I say, the question data and the requirements will drive the answer. Obviously syllabuses differ and there tends to be more quantitative work in P5.
I don’t think I can add more to that, but you might find this useful. At about time 4.14 on, the presentation covers the differences between P3 and P5. The whole presentation is useful:
Hi Ken,
Before reading the scenario, we have to first read and try to understand the requirements of the question so that it would be easy to grab the points from the scenario while reading.
But when attempting questions I faced this difficulty where I am not able to grab the points from the scenario even after reading the requirements.
Please advise what should be done to overcome this weakness as I am attempting P3 and P5 on September 2016.
Thanks in advance
Really I think the only approach is to practise. It might not look like it, but the questions are somewhat repetitive, raising similar issues over and over (though in very different contexts). Practise will eventually help you to pick out relevant information.
Another approach is to think why the examiner has supplied a piece of information or a particular detail. Information is always provided for a purpose. Be suspicious about details as you are probably expected to make use of them.
Thanks for the valuable advise Ken. Highly appreciated.
Further I am using BPP (ACCA approved) revision kit for both P3 and P5. But these books are valid only up to 31st August 2016. Could you please advise whether I can fully depend on these books for my September 2016 exam session? Because I am currently practicing with these books.
Thanks in advance
There are no major changes except:
P5 now contains a requirement to be aware about how quantitative results answer statistics can mislead.
Perhaps contains big data, but that might be in your current material.
OT notes are up to date.
Hi Ken,
Writing in P3 is from a management accountant perspective to suggest how the business should be improve with understanding business models in P3 and apply it to the scenario given. i passed this paper on second attempt after failure to elaborate my point on the first attempt.
Comes to P5, i am using P3 method but soon realize P5 we should from different perspective, while in P5 as a performance management accountant which is usually to analyse the accounting/business model using in the scenario, whether it is appropriate, how to improve by using better model/methods, to analyse whether the existing measurement is sufficient to achieve the company mission. I have failed this paper on the first attempt with 44 marks and will resit on coming Sept exam session.
Please advise am i using the wrong approach?
Thanks,
JessieYes, the emphasis is on performance measurement and management (improvement).
This video is very useful:
Hi Ken,
When witting P5 answers, we have to focus on how to increase the company value/ performance of the company (correct me if im wrong). Like wise what do we need to focus on while writing P3 answers?
Please advise. Thanks in advance
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