P5 Last minute revision

PRESENTED BY ALAN LEWIN

Areas included in presentation

Syllabus overview P5 Paper format Review of December 2013 paper Recent articles Question spots June 2014 Last minute tips

Overview of syllabus
A Use of models to plan and monitor organisations B Macro environmental influences C Design of effective performance management systems D Apply performance management techniques to improve company performance E Advise management on company performance and possible failure F Current developments in management accounting

P5 Paper format all questions compulsory

Section A 50 Marks one question on large scenario Section B 50 marks choice of 2 from 3, 25 mark, questions All questions contain large scenarios Knowledge (15%+) v Application (85%)

Section A style questions

Large scenario 50 marks Needs careful planning Any syllabus area

Section B style questions

(slightly) Smaller questions 25 marks Focused more on individual areas of syllabus Still very time pressured

Review of December 2013 paper

Question 1 Report format overall including KPIs, PEST analysis, CSFs, Evaluation of marketing strategies Includes calculations for KPIs Question 2 Application of performance pyramid Issues of poor information etc. and whether these problems actually affected company in scenario

Review of December 2013 paper

Question 3 Use of RFID tags in performance measurement Effect of new system on staff Question 4 Use of comparative ratios to compare police forces Merits and problems of using league tables

P5 Recent articles
Activity based management Explanation of ABM with a numerical example Human resource management and the appraisal system + Reward schemes Explanation of HR and how to measure and reward performance Benchmarking + Performance prism Good explanation of these areas

Question spots June 2014

Recent articles benchmarking, performance prism etc Ethics, CSR and regulation of companies Management information including budgeting, balanced scorecard and divisional performance Theories Value Chain Boston Box (BCG) Corporate failure

P5 - Last minute tips

Practice recent exam questions especially to make sure basic numbers can be found from the question Remember to present answers clearly and use the 2 mark per point idea id theory, bit from question, say what this means Do some older F5 questions on basic budgeting to ensure can get the variances etc calculated quickly Presentation is clearer with double line spacing (with large handwriting) and use of headings for points