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Dear Tutor,
I’m sorry if I’m asking in the wrong place. I just finished my June sitting and I’m evaluating my choices for options paper. In my mind, it is either AFM or APM.
I have 9 exemptions from ACCA, and have not taken the Applied Skills paper.
The way I understand it, I’m supposed to use a combination of metrics and models to make decisions in a company.
But in my studies (from my degree), my performance for subjects related to Management / Strategy was pretty average. I found it hard to study too, because there’s too much focus on the models.
I have read student’s opinions on APM, and the main difficult thing is that it is very subjective, it is very applied, and it’s hard for students to know if they are doing the right thing in the exams. In addition, I have briefly browsed through the APM page on ACCA’s website.
That said, I’m still very interested on APM, I feel that it has a very practical use in the outside world. I’m just wondering if you could clear my mind up a little. Can I do well even if I usually struggle with this subject.
Thank you very much.
It is difficult yo give you advice on this matter. You know your strengths and weaknesses better than I. You say that you are interested in APM (good) but also say you struggle with this type of subject (not so good).
There are models to be aware off but, in fact, a commonsense business approach is more important. The questions are likely to present unique scenarios to which you will have to respond by addressing the specific question requirements.
In addition to browsing the APM page on the ACCA’S website, I suggest that you look at some past exams and answers. These will give you a good idea of the style of the paper and what might be required of you and might help in your decision-making. Don’t worry if you can’t do technical calculations like EVA as these techniques will be covered on your course. Rather try to get a feel about whether or not you could respond adequately to the overall question. Eg, could you bring together the question data, perhaps make some simple relevant calculations and write a report, with recommendations where required.
Thank you for your input. I will go ahead and do some reading on the actual question papers.
I hope this is not a odd question to ask but, will studying the syllabus help me with building a commonsense business approach?
I am worried that I end up being overly focused with the models and get stuck with applying the knowledge.
Reading the syllabus or study texts won’t really help your ‘common sense’. You are right to be wary about concentrating too much on models. These should be known, but will more often be used to give strength, structure or intellectual justification to your answer rather being the foundation of it.
If you have to write a report to the board, for example, they would not be impressed by a description of three models. Nor do you have to use a whole model: they can be used by you as checklists, for example.
Say that you had to give a report on the business entering a new country. PESTEL would be an important way of remembering the environmental influences. However the question might say nothing about sociological, environmental or legal issues. But you could still refer to the political, economic and technological issues that the question might include. You don’t even have to use the word PESTEL.
Take an interest in the financial press. You do not have to remember or quote any real-life matters, nor will any of your questions be likely to match any real-life issues (papers are often set about a year in advance), however you will absorb information about issues that are commonly commented on in the press. and see how investors, banks etc approach their analyses.
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