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Types of Standards

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA PM Exams › Types of Standards

  • This topic has 3 replies, 2 voices, and was last updated 9 months ago by John Moffat.
Viewing 4 posts - 1 through 4 (of 4 total)
  • Author
    Posts
  • October 1, 2021 at 7:03 pm #636838
    Joseph.Andrews
    • Topics: 45
    • Replies: 23
    • ☆☆

    Can you please tell me the types of standards such as Basic standard, Ideal standard, Current standard, and Expected standard and where they are being used?

    I was unable to understand them completely? I hope you would not mind

    October 2, 2021 at 9:05 am #636854
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 49622
    • ☆☆☆☆☆

    To the extent that they are relevant for Paper PM, they are explained in our free notes and lectures on basic variance analysis.

    October 3, 2021 at 6:16 pm #636933
    Joseph.Andrews
    • Topics: 45
    • Replies: 23
    • ☆☆

    Sir, I wonder where these types of standards are used in F5?

    1) Basic standard
    These are the basic standard that company set and they could be easily achieve

    2) Ideal standard
    These are the ideal standards that the company set and it is impossible to reach those standard

    3) Current standard
    These are the current standard that we are considering

    4) Expected standard
    This is what we expect the standard to be in the future but it might be wrong because they are based on estimates

    Please correct me if I am wrong

    October 4, 2021 at 8:32 am #636950
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 49622
    • ☆☆☆☆☆

    That is correct (although it is Paper PM now, not F5).

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