P5 Exam tips – June 2012 sitting

More tips will be added in a while. Keep checking for updates.

Opentuition

1 Critical success factors and KPIs
2 Activity based costing, ABB and ABM
3 Transfer pricing
4 Economic value added
5 Performance Prism and corporate failure

ATC

P5 Advanced Performance Management
By Nick Ryan, ATC International

The examiner has warned candidates against relying on tips, and the dangers of question spotting, so I do not propose to try to provide a list of my best guesses.
Many of the topics in P5 were covered in other papers, so for a student at the final level, it is more important to focus on applying your knowledge to real life situations, or more specifically, the case studies in the P5 exam, than accumulating new knowledge.

Exam Tips
Rather than tipping specific topics therefore, I would just like to give some general
advice.
The examiner for P5, Alex Watt, only took over as examiner for the December 2010 session. His style is different from that of his predecessor, so it is important that you work through all the questions in the last three exams.
The examiner complained that students often misinterpret his questions, and has written an article showing you how to interpret better. Please read this.
Practicing past exam paper questions is clearly important. To quote the examiner:
“Most examinations require a balance of memory work and evaluation/analysis. As one goes
through the levels this balance changes, from pure memory to more analysis. Good candidates
distinguish themselves by being aware that if they come to this examination expecting to repeat
memorised material, they will probably score only between 20% and 30%”. (Examiner’s report
December 2011)

Exam Technique
? Spend at least 15 minutes planning the long Section A questions. Read the requirement first, before reading the scenario. As you read the scenario, underline key pieces of information and relate these to the requirement of the case study. Finally, do a quick plan of what you will write, taking into account the marking guide. Then start writing.

Good Luck!
In addition to noting the guidance set out above, students should make use of ACCA past examination papers, pay close attention to articles published in Student Accountant and should read the Examiner’s review of the last examination session at https://www2.accaglobal.com/students/acca/exams/p5/reports.

PLEASE NOTE: These exam tips are not intended as a guaranteed or definitive list of the topics that will be contained in the forthcoming examination paper and should not be construed as such. What follows is presented as an additional resource for students’ preparation, based on knowledge and past experience of ACCA examinations. Becker Professional Education – ATC International accepts no liability where final examination papers differ from these suggestions.

source for tips from other publishers – PQ Magazine
https://www.pqaccountant.com

best of luck with exam!
ansi