Candidates should begin to have a holistic view of the company and an organization and see how different parts of it and the various processes affect overall performance, rather than considering individual problems and problems in isolation. Importantly, the P5 Advanced Performance Management APM exam is also likely to assess the ability of candidates to evaluate different approaches to performance management, from a wide variety of perspectives.
In addition to knowing what the approaches are, candidates should also be able to compare them to each other in the context of a scenario; for example, compare the long and short term problems that affect the company and the performance of an organization. The syllabus expects you to apprehend and understand how firms, companies, organisation set their strategy and approach and the external influences that affect strategic plans and operational outcomes.
You will be expected to evaluate specific systems of overall performance management and apply strategic performance measurement methods and techniques in evaluating and improving performance. You may also be expected to advice, recommend on strategic performance evaluation and the possibility of corporate failure. Finally, you need to be conscious of the modern and current developments in management accounting and overall performance management, as these have an effect on organisations.
We assume most of these capabilities and skills if not all to be examined to some extent in every P5 Advanced Performance Management APM exam. Look at the back of at the action verbs in the six parts of the syllabus outlined above. You are expected to be in a position to assess, advise and suggest and evaluate, as well as to pick out and identify and monitor. The need for these competencies and skills of assessing, advising and evaluating highlights that, at P5 Advanced Performance Management APM level, you are expected to have moved beyond simply and merely demonstrating your knowledge and information of a model or technique, and as an alternative you have to apply that knowledge to practical and suitable situations.
For example, the examination team will expect that, by way of the time you reach P5 Advanced Performance Management APM , you can already calculate basic financial ratios. In P5 Advanced Performance Management APM , though, the examination team will expect you to be in a position to interpret the data and information provided by these ratios to understand how an organisation and the company is performing, and to make sensible guidlines and suggestions where appropriate about how its performance can be be improved.
The questions set in P5 Advanced Performance Management APM exams will be based totally round case study situations and scenarios which describe an organisation, its objectives and its business environment.
You will need to relate your answers mainly to the state of affairs, scenarios given in the question. There will be very few marks available for just simply describing models or theories. The P5 Advanced Performance Management APM paper has a large written element, with nicely over half of the marks being earned for written answers discussion, analysis, evaluation instead than calculations. Again, this is designed to reflect the role and position of a qualified accountant working in a business.
The accountant can expect and anticipate a number of the routine calculations and figures to be produced by way of their more junior colleagues, however the accountant need to then expect to discover and identify the problems and issues or implications being identified by means of these figures. The examination team offers a lot of beneficial feedback in the 'Examiner's reports' to past exams. This feedback highlights areas the place students have struggled in exams, and also indicates the abilities the examination crew expects candidates to be in a position to demonstrate.
Save to Library Save. Create Alert Alert. Share This Paper. Background Citations. Methods Citations. Results Citations. Citation Type. Has PDF. Publication Type. More Filters. Status and opportunities associated with product costing strategies in wood component manufacturing. Product costing systems are critically important for businesses because they help reduce costs, price products at competitive prices, and enable strategic decisionmaking. This article reports the … Expand.
The study aimed to measure the impact of applying three cost management tools namely, activity- based costing ABC , value chain VC , and target costing inputs TC in cost reduction elements, … Expand. Activity-based performance management at strategic logistical alliance. In the era of competitive global environment and technology-based organisations, managers are pressured to find ways to maintain their competitive advantage.
Management has the responsibility to … Expand. The BPP text provides a comprehensive treatment of the new ACCA syllabus for P4 and addresses all learning outcomes and the higher skills to be assessed in the professional examination in an integrated and practical way.
The material, despite the technical nature of certain areas, follows a practical, common sense approach with plenty of case studies and real life business examples. The key points of each topic are summarised in a chapter roundup and tested in a diagnostic quiz at the end of each chapter. A question bank at the end of the book provides practice on exam style questions.
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