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Hello John Moffat,
I am stuck in between productivity and efficiency. Is there any difference between them? As I have seen them used interchangeably. Like, we have ACCA beginning three labor ratios. One of them was Efficiency ratio which was also called Productivity ratio. But recently I have studied in Kaplan book that it gave example of measures that were given for Resource utilization. Can you tell me what is difference between these two terms. I have read efficiency several times but do not have a core idea at every level I find something new.I cannot comment on what Kaplan may have written, although I find it strange that they are writing about these ratios for Paper PM because they are not really examined in Paper PM (but in Paper MA).
Our Paper MA lectures on accounting for labour do explain these ratios.
Our lectures for Paper PM are a complete free course and cover everything needed to be able to pass the exam well.
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