Prepare to pass - ACCA Global

26 Pages·2015·1.94 MB·English

Prepare
to pass
A guide to help
you if you are
studying
Advanced
P5
Performance
Management
SG
TAET
Prepare to pass RTETIN
DG

L
E
PA
HR
AN
SEIN
G

R
PE
HV
Welcome to your guide helping Sections AIS
SEIO
N
you to study for your P5 exam
Getting started 03
Why use this guide? of Learning phase 09 PR
✓ Structured approach to show you how to succeed ages study Revision phase 15 EPARATFINAL
✓ Signposted resources and how to use them St Final preparation 19 IO
N
✓ Tips for success to help you through your studies
The exam 21
✓ Interactive clickable checklists to keep you on track
T
Appendix – Links 23 H
E
E
This guide applies to paper-based exams for September X
A
and December 2015 and March and June 2016. M
A
–P
LP
INEN
KD
SIX

02
SSSGGG
TATATAETETET
RRRTTT
TETETEINININ
DDDGGG

Your checklist L
E
PA
HR
AN
Enter for your exam SEIN
G

B uy an Approved Content
Provider study text and question
and answer bank
R
PE
Draw up your study plan HV
AIS
SEIO
Get to know your exam N

P
R
E
PF
ARIN
AA
TL
IO
N
T
H
E
E
X
A
M
Getting started
A
–P
LP
INEN
KD
SIX

03
SSGG
TATAETET
Getting started – Tips for success RRTT
TETEININ
DDGG

Tips for success
L
E
PA
HR
✓ The earlier you enter for your ✓ Remember to personalise When drawing up your study AN
SEIN
exam the less it costs! your edition of Student plan (see page 5) G

We strongly recommend that Accountant so you receive
you buy a P5 Approved Content ✓ Use the ACCA Learning P5 specific information ✓ Be realistic and consider
Provider study text and question Community to link up as you need it. when you are best able
with fellow students around to study – maybe early
and answer bank to ensure exam
the world studying the same ✓ Consider working through mornings work better for R
success. These provide: PE
exam as you – get tips, join the professional skills you or perhaps shorter, more HAVIS
- the most up to date content and discussions and share ideas modules either before you frequent study periods. SEIO
N
syllabus coverage. and advice. You can also start, or alongside your
access live Q&A sessions studies. These modules give ✓ Once you have prepared
- tests, quizzes and other support and presentations. you insight into professional your plan stick to it!
designed to help you prepare skills that you can apply
for your exam. ✓ Download the Student in your exam or in the ✓ Consider building in an extra PR
- past exam questions updated Phelalnpns eyro Aup mpa –p ay otouor lj othuartn ey workplace. sfetuwd cyh paeprtieords atoft erer veievewr ya nd EPARFIN
AA
for changes to the syllabus, to ACCA membership while consolidate your learning. TIOL
question style and exam format balancing your work Exempt from F5? N
✓ Take a 5-10 minute break
as well as practice questions and and social life.
answers and full mock exams to ✓ Make sure you have the every hour to help maintain
ensure you are fully prepared for ✓ Spend some time assumed knowledge needed your motivation and
your exam. familiarising yourself with from F5 for P5 (see P5 concentration. T
H
the free resources available syllabus and study guide). E
E
via the exam resource finder X
✓ If you feel your knowledge A
on the student section of M
is lacking, consider buying
the ACCA website – we will
an F5 Approved Content
provide you with specific
Provider study text to refresh
guidance on when and how
your understanding.
to use these resources during
A
the relevant stages of study. – LPP
INEN
KD
SIX

04
SSGG
TATAETET
Getting started – Draw up your study plan RRTT
TETEININ
DDGG

Study plan checklist L
E
PA
HR
AN
Calculate the number of weeks SEIN
G
from now until your exam
date and draw up a plan – see
the example to the left and a
Monday Tuesday Wednesday Thursday Friday Saturday Sunday
possible proforma for you to R
PE
Week 1 Monday Tuesday Wednesday Thursday Friday Saturday Sunday HV
use on the next page AIS
Week 2 Monday Tuesday Wednesday Thursday Friday Saturday Sunday SEIO
N
Y ou may need to add or take
Week 3 Monday Tuesday Wednesday Thursday Friday Saturday Sunday
away weeks depending on
Week 4 Monday Tuesday Wednesday Thursday Friday Saturday Sunday
your own circumstances
Week 5 Monday Tuesday Wednesday Thursday Friday Saturday Sunday
P
R
Week 6 Monday Tuesday Wednesday Thursday Friday Saturday Sunday B lock out days/half days/ E
PF
Week 7 Monday Tuesday Wednesday Thursday Friday Saturday Sunday evenings already committed ARIN
AA
TL
Week 8 Monday Tuesday Wednesday Thursday Friday Saturday Sunday to family/social events IO
N
Week 9 Monday Tuesday Wednesday Thursday Friday Saturday Sunday P lan study periods – evenings/
Week 10 Monday Tuesday Wednesday Thursday Friday Saturday Sunday half days/full days, aiming for
Week 11 REVISION roughly one evening/half day
T
H
Week 12 REVISION per chapter of your study text E
E
X
Week 13 REVISION A
L eave a six week period for the M
Week 14 REVISION
revision and final preparation
Week 15 REVISION
phases
Week 16 REVSION AND FINAL PREPARATION
A
–P
Evening study period Daytime study period Other commitments LP
INEN
KD
SIX

05
SSGG
TATAETET
Getting started – Your study plan RRTT
Print out and write down when you will study, relax and revise! TETEININ
DDGG

Monday Tuesday Wednesday Thursday Friday Saturday Sunday
Week 1
L
E
PA
Week 2 HARN
SEIN
G
Week 3
Week 4
R
PE
Week 5 HV
AIS
SEIO
N
Week 6
Week 7
P
R
Week 8 EPF
ARIN
AA
TL
Week 9 IO
N
Week 10
Week 11 REVISION
T
H
E
Week 12 REVISION E
X
A
M
Week 13 REVISION
Week 14 REVISION
Week 15 REVISION
A
–P
Week 16 REVISION AND FINAL PREPARATION LP
INEN
KD
SIX
Evening study period Daytime study period Other commitments Colour boxes in your preferred highlighter colours.
06
SSGG
TATAETET
Getting started – Get to know your exam RRTT
TETEININ
DDGG

L
E
PA
HR
AN
SEIN
G

Review the syllabus ➤ This gives you an understanding of the aims and objectives of the exam, learning
outcomes and exam structure
& study guide
R
Scan the most recent past ➤ The most recent past exam provides you with a clear picture of how P5 will be PHEV
assessed and how the exam is structured as well as the likely style and range of AIS
exam for P5 questions that you could see in the real exam SEION

Read the examiner's approach ➤ Using these at the start of your studies will help you understand the focus of the
exam by concentrating on the exam structure, question style, exam technique and
article and listen to the tips as well as pitfalls to avoid – see extracts from the examiner's approach article P
R
examiner's approach interview over the page E
PF
ARIN
AA
TL
Review the examiner's reports ➤ These provide feedback on students’ performance after each exam session, highlight IO
problem areas that students need to improve on and tell you what the examining N
from the last four sittings teams are looking for; these are critical to your success in passing P5
Read the exam technique ➤ The seven articles – Passing the professional level papers - professional marks, How
T
to tackle exams - a marker’s perspective, Passing the professional level papers, H
articles for P5 Improving your Paper P5 answers - part 1, Improving your Paper P5 answers - part E E
2, Moving up from Paper F5 to Paper P5 and Reading the question requirements of X
A
Paper P5 – will provide you with a head start in terms of knowing what to expect and M
how to approach exam standard questions
Familiarise yourself with ➤ You will be provided with this document in the exam and so you will not need to learn
these formulae
the formulae sheet A
–P
LP
INEN
KD
SIX

07
SSGG
TATAETET
Getting started – What the examiner has said about P5 RRTT
TETEININ
DDGG

(extracts from the examiner's approach article)
§ L
Comments on E
Comments on Comments on PHAR
the overall approach AN
links to other papers approaching P5 SEIN
students should take G

Performance management systems are the The best approach to the exam can A candidate would be advised to ask
systems in an organisation by which the be summarised as: him/herself if the answer they have
performance of an organisation is measured, produced would help the organisation
R
controlled and improved. The thrust of 1. cover the whole syllabus to answer the question requirement. PHEV
the paper will move towards the strategic 2. b e prepared to apply all of this Remember, try to add value with your ASEISIO
level of considering different performance N
knowledge to a business scenario answers by way of comments relevant
measurement techniques and management
to the issue at hand.
systems. Paper P5 builds on knowledge 3. r ead and answer the question
gained at other levels, for example, asked
Paper P3 and especially from Paper F5. P
R
4. a dd value to the organisation E
Paper F5 tests the candidate’s ability PF
in application and analysis of core that is being advised ARIN
AA
management accounting techniques. TIOL
N
Paper P5 develops key aspects introduced
at the Paper F5 level with a greater focus on
the synthesis and evaluation of the key topics
and techniques. It will also introduce more
T
H
specialised techniques and current issues E
E
in performance management. Therefore, X
A
candidates should not expect to be retested M
in a Paper F5 style on topics but need
to be aware that all of Paper F5 knowledge
is assumed to be known and will now
be used in a more critical capacity.
A
–P
LP
INEN
KD
SIX

08
SG
TAET
RT
TEIN
DG

Your checklist LLL
EEE
PPPAAA
HHHRRR
AAANNN
W ork through the control SESESEINININ
GGG
sheet which has been
designed to give you a
structured approach to your
learning phase to ensure you: R
PE
HV
AIS
- g ain the knowledge you SEIO
N
need; and
- l earn how to apply that
knowledge to pass the exam
P
R
E
PF
ARIN
AA
TL
IO
N
T
H
E
E
X
A
M
Learning phase
A
–P
LP
INEN
KD
SIX

09
SG
TAET
Learning phase – Get the most out of your control sheet RT
TEIN
DG

Use the control sheet relevant to Tick the box Quiz/Test in the control LL
EE
the Approved Content Provider's sheet once you have: PHPHARAR
AANN
materials you have purchased: ✓ Attempted the quiz at the end of the SESEININ
GG
✓ Becker Professional Education – page 12 chapter (if you are using Becker or BPP
material) or the test your understanding
✓ BPP Learning Media – page 13
questions throughout the chapter
(if you are using Kaplan material)
✓ Kaplan Publishing – page 14
R
PE
HV
AIS
Tick the box Content in the control Tick the box Questions in the control SEIO
sheet once you have: N
sheet once you have:
✓ Attempted the questions referred to in
✓ Read through the introduction
the question bank – some of these you
to the chapter
should do in full but others you can just P
R
✓ Actively read and understood each draw up a plan for, depending on the EPF
chapter’s content time you have available ARIN
AA
TL
✓ Noted any additional commentary ✓ Compared your answer, or plan, with the IO
N
and exam focus tips provided solution given and understood where you
did well or not so well and why
✓ Worked through and understood
examples and illustrations of
T
concepts given Tick the box ACCA related resources H
E
in the control sheet once you have: E
X
A
✓ Read / viewed the related ACCA article / M
video signposted
A
–P
LP
INEN
KD
SIX

10