Exam Advice June 2017 Session

The exam tips that are included in the following exam advice are not intended as a
guaranteed or definitive list of the topics that will be contained in the forthcoming
examination and should not be construed as such. What follows is presented as an
additional resource for students preparation, based on knowledge and past experience of
ACCA examinations. Becker Professional Education accepts no liability where final
examinations differ from these suggestions.

F5 Performance Management by Nick Ryan

Exam format

The format of the exam is as follows:

Section A: 15 Objective Test (OT) questions of two marks each.

Section B: Three 10 mark case-based questions, each containing five OT questions of 2
marks each.
Section C: Two 20 mark constructed response questions. These will require calculations
and narrative answers.

The overall format is the same for computer based exams (CBE) as for the paper-based
exam. However, Sections A and B will contain a range of different types of OT question as
well as standard multiple choice questions (e.g. multiple response, pull-down list, number
entry, hot are/hot spot and enhanced matching1).

Ensure you work through the specimen exam for September 20162:
Paper-based: www.accaglobal.com/content/dam/acca/global/PDF-
students/acca/f5/specimen/f5-specimen-s16.pdf
Computer-based: Access from www.accaglobal.com/uk/en/student/exam-support-
resources/fundamentals-exams-study-resources/f5/specimen-exams.html

You should also work through the September 2016 and December 2016 exams which are
available as follows:
www.accaglobal.com/uk/en/student/exam-support-resources/fundamentals-exams-study-
resources/f5/past-exam-papers.html

If you will be sitting the paper-based exam, the technical article Multiple-choice questions
tells you what you need to know about MCQs in F4-F9 and is essential reading
http://www.accaglobal.com/gb/en/student/exam-support-resources/fundamentals-exams-
study-resources/f4/technical-articles/mcq-dec14.html
If you will be sitting CBE be sure to practice using the constructed response workspace
tool which you will also find at the above CBE link.

1
Beckers OT Question Practice for CBE can be purchased as a stand-alone booklet. It is also included in Beckers 2016-17
Edition Revision Question Bank.
2
An analysis of the specimen and recent past exams can be found in Beckers Revision Essentials Handbook.
 Exam Advice June 2017 Session

Exam Tips

The best tip I can give is to have a good knowledge of the whole syllabus. The examiners
reports frequently state that the biggest problem is lack of knowledge. Since multiple
choice questions were introduced, the examiner has been able to test all parts of the
syllabus within one exam.

The two 20 mark questions (Section C) will be drawn from the following syllabus areas:
B Decision-making techniques
C Budgeting and control and/or
D Performance measurement

Thus syllabus area A (specialist cost and management accounting techniques) can feature
only in Sections A and B of the exam (see, for example, the throughput accounting OT-
case question in the Specimen exam).

Exams published before December 2014 are useful in preparing for constructed response
questions in Section C of the exam; these are all 20 mark questions and clearly exam
standard. The MCQs in the December 2014 and June 2015 exams are also useful revision
for the types of questions that will appear in Section A.

Although the Section B questions in the published exams from December 2014 onwards are
shorter than those that will appear, they provide useful practice but be aware that they
are no longer considered to be exam standard.

Pay close attention to articles published in student accountant and read the examiners
review of the last examination session at www.accaglobal.com/en/student/acca-qual-
student-journey/qual-resource/acca-qualification/f5/examiners-reports.html. Note that
examiners reports contain useful examples of selected MCQs that previous candidates
found most difficult, together with explained solutions.

Do not suppose that because OT questions now make up 60% of the exam that it is going
to be easier to pass. The average global pass rate for F5 for the six exams to June 2016
(i.e. since MCQs were first introduced) was 40%; for the six preceding exams (which had
no MCQs) the average global pass rate was also 40%. The pass rate for September 2016
for F5 was 39% and for December 2016 was 40%.

Bear in mind also, that F5 is a stepping stone to P5 where being able to discuss
performance management issues will be essential to passing. So although your main aim
now is to pass F5, remember that everything from F5 will be relevant to your later P5
studies, should you want to choose this option.
 Exam Advice June 2017 Session

Exam Technique

Allocate your time. You should spend 54 minutes on Section A, 54 minutes on Section
B and 72 minutes on Section C.
Do the Section C questions first, followed by Section B and finish with Section A. You
can also take this approach in the CBE exam, using the navigation tools.
Plan your answers to the Section C questions briefly.
Dont ignore or avoid discussion sections in Section C.
Show clearly any workings (Section C only); they can earn you partial marks. A good
approach is to provide your main answer first followed by separate, cross-referenced
workings.
Ensure you answer all OT questions in Sections A and B; if you do not know the answer
make your best guess there is no negative marking.

Presentation matters (in Section C) in the paper-based exam! In particular:

Apply the proforma layouts that you have been taught.

Use workings to avoid complex calculations in your main answer, and cross-reference
them to the face of your answer.
Good presentation helps avoid mistakes and makes it easier for the marker to follow.

Time allowed

Be aware that the paper-based exam will be 3 hours and 15 minutes. You are strongly
advised to spend 15 minutes in reading and planning Section C questions.

The computer-based exam is 3 hours ONLY (although in some cases there will be
additional questions included for quality control purposes, in which case an extra 20
minutes will be added). For further details about CBEs see the Guides available at
www.accaglobal.com/gb/en/student/exam-support-resources/fundamentals-exams-study-
resources/f5/specimen-exams.htm

Good Luck!

In addition to noting the guidance set out above, students should make use of ACCA past
examinations, pay close attention to articles published in Student Accountant and read the
Examiners review of the most recent examination sessions. These are all available at
http://www.accaglobal.com/uk/en/student/exam-support-resources/fundamentals-exams-
study-resources/f5.html