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Paper F5 has five compulsory questions of 20 marks each. There is a mix of computations and discussions. Candidates will be expected to know the implications of the calculations they have made. There will be a question from each area of the syllabus.
Each exams will aim for approximately 50 per cent of the marks for calculations and 50 per cent for discussion but may go as far as 40:60 either way.
Generally bullet points or short sentences suffice. Candidates should be guided by the number of marks available and not write two pages for four marks!
Yes, own figure interpretations will be given credit.
All areas of the syllabus are examinable. While in some cases it may be easy to come up with a 20-mark question in one syllabus area alone, in many other cases this may not be possible.
Therefore a single question may be drawn from different areas of the syllabus. For example, throughput accounting may come up as 20 mark question or may cover across two syllabus areas - cost accounting techniques (numerical) and performance measurement (narrative).
The paper's title is Performance Management and therefore this is its theme. Most questions will link to the performance management aspects of accounting.
For example, in the pilot paper the ABC question asked for calculations but went on to ask what a switch to ABC would mean for pricing and profitability. Being able to assess the performance of a business is an important skill in F5.
Some areas tend to be less frequently examined than others but that does not mean they should be ignored. Candidates are always advised to study the whole syllabus regardless of how often a particular topic has been examined.
CVP will be tested in a lot of depth. Candidates should be able to draw all of the graphs covered by the syllabus (including multiple-product CVP), discuss CVP and perform calculations.
Yes. But whilst joint probabilities are included, they will not be unreasonably difficult to calculate. Sometimes they may be given in the question.
Yes. It is in the syllabus.
Any area of the syllabus can be examined in either a public sector or a private sector context.
Last updated: 12 Jun 2013