Being able to do well in the ACCA P5 exam does not only mean learning core syllabus topics but being able to apply this knowledge to the scenario within the question.
Students are expected to use specific details on the case within the question and comment using the relevant theory/knowledge to back up their points.
This is what examiners had to say about recent ACCA P5 candidates’ performance in this area:
“Most candidates did not justify a recommended choice of method for each stakeholder and many candidates ignored the data in the scenario.” - ACCA P5 Examiner’s Report – March 2016
“Answers to this question would have been improved with the use of specific illustrations of the general points being made using the information in the scenario. P5 is about specific application not just generic points that could apply to any business and those candidates that do this often shift their marks materially into the range of a good pass.” - ACCA P5 Examiner’s Report – March 2016
“Part (iv) required a calculation of the missing elements of an activity-based budget. This part was often ignored by candidates.” - ACCA P5 Examiner’s Report – March 2016
“Understanding the advantages and disadvantages of a model, and then demonstrating how they relate to the given scenario, will allow candidates to score well.” - ACCA P5 Examiner’s Report – December 2015
Remember, it is absolutely vital that you demonstrate to the examiner that you have linked the scenario into your answer. Don't simply write down everything you know about the subject. It is far more important to refer only to the relevant theory and state specifically how it relates to the scenario.
The best way to get into the habit of doing this correctly is through practise. You should aim to complete at least 3 full past exam papers under examination conditions before your final exam in order to ensure you make these links effectively.
Don’t forget, the examiners also expect candidates to have a wider knowledge and understanding of the business and accounting world. Accounting is a profession that requires more than just book learning – business acumen is needed too.
is just one of the points addressed in our ACCA P5 Examiners' Guide.
See what others issues had been identified by going to - ACCA P5 Examiners' Guides