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After reading all the reviews i think maybe at first glance you may have think you have done badly…. the thing is with this exam for q2 and q4 there is so many things you can write i dont think there is any incorrect answer along as you have made a valid point and answered the question. That also goes for q1 most parts
Can someone just confirm to me what q2 a was actually asking about the performance pyramid, was is saying review the current one say good and bad things and suggest improvements…. because thats what i did. I think some people actually went on to measure the performance of the company using the pyramid.
@aida87 part 1 the question was vc in unts and fc was total…. very naughty but i suppose he has to tricl you somewhere.You will still get method marks though for the rest if you followed it through
Cazza99 – I did exactly the same for the performance gap. I also agree that the transferring of the marketing costs made no different to the overall profit of the company. I had Plan A missing the performance target and Plan B exceeding the target.
I answered Questions 3 & 4. I had a blank on the performance pyramid, otherwise I would have done question2.
I also think that time management/exam technique was key in this exam, I hadn’t realised that variable costs was in units at first, so I had to re-calculate the first requirement in Q1, so I was playing catch-up from the start. I gave myself 1h15 for section B and managed to finish in time.
This was my first attempt at P5, so I’m hopeful that I’ve done enough to pass! I have P2 on Tuesday so I must get back to the books.
I think I did plan A like this
(1120X400x1.04) + (440x700x1.04) = total Revenue 786240
(1120x225x1.04) + (440x325x1.04)=variable costs ( 410800)
Fixed costs (240000)
Operating profit 135440
Thus Plan A would lead to favorable performance gap and would meet the targetcan anyone check this and find any mistakes i did in the variable costs can any one confirm were the variable costs 225 or 255
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did q1a asked for the calculations only…or as wel as the performance analysis basing on those calculated KPI’S? please someone remind me.
@soulhackerr
1120 & 440 i assume is your units? ( i used the 1.12m & 0.44m in that form)
400/700? Sales price?Only thing i can see that i would disagree with is that it was over 2 years so you would need to do x1.04×1.04 to get to final totals
However, my Plan A came up quite short @$105m or $110m but then i just used contribution instead of recalcing the rev & costs…….Guys, for Q3 – The hospital group – did anyone take the approach that this was the Fitzgerald and Moon model? Part (a) was looking for ways in which the new RFID system would effect performance management and was 12 marks. I decided that he was looking for the 6 Dimensions @ 2 marks each – Financial Performance, Competitiveness, Resource Utilisation, Quality of Service, Innovation & Flexibility? Didn’t know what to write for the leaner objectives in part (b) then for part (c) where he asked about the attitude of staff to the new system and how it could improve accountability/responsibility – I thought this was the Standards/Rules part of F&M’s building blocks – Acceptability, Ownership and Equity. This seemed right considering the disputes between different levels of staff… I was sure I was onto the right track using this model but haven’t seen a single post from anyone on this or other forums stating that they used this so now I’m thinking I was waaaay off :S
Anyone else take this approach??
My calcs……………..
Current
sales units 1.12 0.44
Price 400 700
Var cost -255 -325
Contr per unit 145 375Fixed cost -120 -120
Total rev 162.4 165
less Fixed cost -120 -120
Profit 42.4 45 87.4PLAN A
sales units 1.21 0.48
Price 400 700
Var cost -255 -325
Contr per unit 145 375Fixed cost -120 -120
Total rev 176 178
less Fixed cost -120 -120
Profit 56 58 114PLAN B
sales units 1.12 0.58
Price 400 700
Var cost -255 -325
Contr per unit 145 375Fixed cost -120 -120
Total rev 162 218
less Fixed cost -120 -120
Profit 42 98 141that looks funny but it should be columns with Product C then product P reading across
There was this short way (but may be I am wrong ?)
Plan A => Additionnal profit
(1.120.000 *1,04*1,04-1.120.000)* Contr per unit 145 + (440.000 *1,04*1,04-440.000)* Contr per unit 375
= 91.392 * 145 + 35.904 * 375
=26.7 M
Hence total profit 26.7 M + 87,4 M= 114,1 M < 135 MPlan B => Additionnal profit
(440.000 *1,15*1,15-440.000)* Contr per unit 375
= 141.900 * 375
=53.2 M
Hence total profit 53,2 M + 87,4 M= 140,6 M > 135 M- Topics: 0
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Almost identical answer, one change was I split the marketing costs to 40 -120 ratio as that is what the question suggested (drastic marketing spend cut on cheerful).
The GAP measurement in unchanged by that but I thought there might be 1 point for that and in this paper every point counts 🙂- Topics: 0
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I quite liked the RFID question but it was a killer on how to measure.
I can’t remember what I put but thinking back it should have been something like
get the drugs quicker
Prevents assets going missing
frees up capital
reduces arguments among staff
easier to trace theft
easier to analyse which departments are performingIt was a real tricky one, do-able but painful overall i thought not impossible but painful really hope I have passed as I am pretty sure I failed P6 today, was an awful paper.
@needs to pass
Can you remember which parts to allocate marks to for questions in p6? Also which question did you do?
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Lets just pray altogether to get a pass.. Hopefully.. I am done with ACCA
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Hope so.. As well.. I m too tired in the list..
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My workings showed neither would cover the gap however one would reduce the losses.
https://www.pqaccountant.com/pmag-FFFF00500180026A02171957.html
P5 exam
All about KPIs and CSFs. Many thought is was a very generic exam. One student wondered what happens to sitters when they sit down at their exam desks – they seem to lose all common sense.- Topics: 0
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Same results as mine. Plan B should be chosen, but wrote little about performance gap
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not too bad
i hope the markers will understand my answers and match them to what they are expecting. under exams pressure, things happen differently….wishing myself goodluck.
I would assume that there would be 1 mark for definition of performance GAP/GAP Analysis and possibly another mark for the mention of say Ansoff Matrix and a generic method of reducing the GAP or even drawing a graph.
Then another mark for linking the GAP with the strategy and how to reduce/maintain the GAP with the mention of brand being important to charging higher prices and all that for the Posh model.
Overall what did people think of the paper, fair but challenging?
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that was my first attempt. had only 15 minutes for the question 4 on league tables. only praying for a 50+ . I guess time was too short to have fully answered all the questions. maybe i spent too much time on question one.
the first marketing strategy resulted in below the operating profit target of 135m but the second strategy was going to beat the target. hope i got that right.
the selling prices were $400 and $700 for Cheerful and Posh respectively
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