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 • KPI’s, 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