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ACCA F5 performance management technical articles

ACCA F5 performance management technical articles

ACCA F5 performance management technical articles: The overall concept of the Performance Management syllabus is that it builds from topics that you have learnt from the Fundamentals of Management Accounting exam, gives you more management accounting techniques and focuses on the core fundamentals of performance management. It is important to remember that this is a performance management exam and not a management accounting exam.

You will be expected to manipulate numerical information using techniques learnt and also, perhaps more importantly, you will need to interpret that information in the context of a scenario. Knowledge provided by the analytical review of this information is key for managers to make decisions for businesses and this is the focus of this exam.

The following are some of the key skills that are essential for passing the Performance Management exam:

ACCA F5 performance management technical articles
1. Understanding the reasoning behind calculations and how these calculations will be useful to management:

  • Questions which are testing a management accounting technique will usually try to make the link between the technique and its use as a performance management tool.
  • You must make sure that you have revised the syllabus thoroughly and have the knowledge required of these tools as exam changes mean that the syllabus can be examined in a lot of breadth.
  • You must make sure that you are applying your knowledge to the information in the question and using evidence from the scenario in your answer.
  • You must practise the written elements of CR questions in full, as this is where the examiner will test your understanding of the scenario and performance management implications of the question.


2. Managing your time effectively and identifying easy marks available:

  • There will be easy marks available in all sections of the exam and students who answer these questions usually perform well.
  • Students who do not manage their time and miss easy marks make it much harder for themselves to pass the exam.
  • You must make sure that you are using your exam time effectively to identify any OT questions in Section A or parts of questions in Section C that you can easily tackle and plan the order in which you will answer questions in the exam.
  • Make sure that you try to answer all the OTs in an exam.


3. Reading the question and understanding the requirement:

For OTs:

  • Read the question carefully and if it is a narrative OT read all the distractors carefully. Ensure you follow the instructions in the question on how to answer the question as different question types will require different interactions.

For CRs:

  • You must read the question very carefully and identify the instructional verbs used, remember there may be more than one thing to answer within each requirement. You must use the mark allocation to work out how much depth you need to go into in your answer.
  • Make sure that you are answering the question set not the one that you would like to answer.


Common pitfalls pointed out by the Performance Management examining team include:

  • Student’s failure to make the step up to Performance Management from the Fundamentals of Management Accounting exam – this is due to a lack of ability to interpret the calculations performed with reference to the scenario given.
  • Poor interpretation of data – this would be due to lack of planning and understanding the requirements of the question.
  • Poor technical knowledge and failure to closely read the question.
  • Not enough practice of the new question types shown in the specimen exams and past published exams from September and December 2016 to ensure familiarity with the new exam format.

ACCA F5 performance management technical articles
Make sure that you are always thinking about these key skills during your revision and that each time you practice a question you are thoroughly reviewing your answer afterwards to identify if you need to work on any of these areas.

Written by a member of the Performance Management examining team

ACCA F5 performance management technical articles: Little bit history of ACCA

ACCA traces its origin to 1904, when eight people formed the London Association of Accountants to allow more open access to the profession than was available through the accounting bodies at the time, notably the Institute of Chartered Accountants in England and Wales and the Institute of Chartered Accountants of Scotland. As of 2006, the goal of ACCA is to become the world’s largest global professional body.

ACCA F5 performance management technical articles: Key dates in ACCA history include:

  • 1930: London Association of Accountants successfully campaigns for the right to audit companies.
  • 1933: London Association of Accountants renamed London Association of Certified Accountants.
  • 1939: Corporation of Accountants (Scottish body, founded 1891) merges with London Association of Certified Accountants to become the Association of Certified and Corporate Accountants.
  • 1941: Institution of Certified Public Accountants (founded 1903, and incorporating the Central Association of Accountants from 1933) merges with Association of Certified and Corporate Accountants.
  • 1971: Association of Certified and Corporate Accountants renamed Association of Certified Accountants.
  • 1974: Royal Charter Queen Elizabeth II.
  • 1974: ACCA becomes one of six founding members of the Consultative Committee of Accountancy Bodies (CCAB).
  • 1977: ACCA becomes a founding member of the International Federation of Accountants (IFAC).
  • 1984: Association of Certified Accountants renamed Chartered Association of Certified Accountants.
  • 1995: ACCA members vote at an extraordinary general meeting to rename itself Association of Chartered Public Accountants and to introduce the designation Chartered Public Accountant. The Privy Council subsequently rejected this proposal over concerns about the term “public”. It did however agree that any accountancy body bearing a royal charter could use “chartered” as part of its designation.
  • 1996: Chartered Association of Certified Accountants renamed Association of Chartered Certified Accountants. Members become entitled to use the title Chartered Certified Accountant (Designatory letters ACCA or FCCA). The Association of Authorised Public Accountants became a subsidiary of ACCA. The group earned its first Queen’s Award, for Export Achievement
  • 1998: ACCA’s syllabus formed the basis of the United Nations’ global accountancy curriculum titled Guideline on National Requirements for the Qualification of Professional Accountants, published in 1999. ACCA was a participant in the consultative group that devised this global Benchmark.
  • 2001: ACCA received a Queen’s Award for Enterprise in International Trade, recognising ACCA’s growth and its role in 160 countries worldwide.
  • 2002: ACCA received its second Queen’s Award for Enterprise in the space of 12 months, in the Sustainable Development category. The award recognized ACCA’s continuing work on social and environmental issues.
  • 2009: ACCA members allowed to provide probate services as of 1 August under Probate Services (Approved Bodies) Order 2009 Number 1588.
  • 2011 to 2012: ACCA is the first accountancy body to publish an integrated report
  • 2014: ACCA members and student numbers reach 600,000 worldwide.
  • 2015: ACCA launches M.Sc. in Professional Accountancy with the University of London (UCL)

ACCA F5 performance management technical articles

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