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Bringing knowledge forward

+1 Vote
Bringing knowledge forward

What do you think are the key aspects of Paper F5 that you need to know to be successful in Paper P5?

March 21st 2014 AN ACCA USER, EDITOR 1,350 Points

3 Replies

+3 Votes

Hi Victoria

I am resitting P5 having failed it miserably in December. I think the key factors to succeed are:

  1. Answer the question asked! This may seem obvious but if one simply writes what one knows without addressing strictly the requirement, one cannot hope to gain much credit.
  2. Be very strict about time. I think the main reason I failed was because I spent too long on certain parts (such as calculations) and left myself short on others. This meant I had to rush my answers to those other parts due to panic and did not do myself justice. This was despite my solid preparation before the exam.
  3. Show good knowledge of the subject, including the brought forward knowledge from P3 and F5. I had looked at my notes for these whilst starting P5 to refresh my knowledge. It is a fairly technical paper, so one needs to know the various models~(such as BCG, Ansoff, Balanced Scorecard, Performance Pyramid, etc).

I hope the above helps and wish you all the best for June 14. Hopefully I will sail through this time!

Ashok Rao (student at First Intuition in Cambridge)

March 21st 2014 AN ACCA USER 1,140 Points 1 Flag
+2 Votes
F5 TO P5 ESSENTIAL KNOWLEDGE
 
A. Specialist cost and management accounting
techniques
 

B. Decision-making techniques
 
 6. Dealing with risk and uncertainty in
 decision-making
 
C Budgeting
 
2. Budgetary systems
3. Types of budget
5. Behavioural aspects of budgeting
 
D. Standard costing and variances analysis
 
 All subheadings excluding:
 
2. Basic variances and operating statements
 
E Performance measurement and control


topics of f5 essential to have knowledge about to understand p5 better
April 6th 2014 AN ACCA USER 9,230 Points
0 Votes
Thank you for the tips
May 9th 2014 AN ACCA USER 200 Points
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