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Paper P5

Bringing forward Paper F5 knowledge and skills into Paper P5
A member of the Paper P5 examining team provides candidates with some insight into the ways in which knowledge and skills gained at previous levels can be examined at the final professional level.

Examiner's approach to Paper P5 - update
Outlining the aim of the paper, its structure and how the syllabus will be tested in the exams from June 2013.

Reading the question requirements of Paper P5
An insight into some common problems and misconceptions surrounding Paper P5. The article considers how to carefully understand the question requirement with use of selected examples from the past three Paper P5 exams.

Reports for performance management
Performance means different things to different organisations, so there is certainly no single correct way of measuring or presenting performance. However, this article offers some guidance on effective performance report design.

Activity-based management
Activity-based management (ABM) can be defined as the entire set of actions that can be taken on a better informed basis using ABC information. The aim is to achieve the same level of output with lower costs.

Human resource management and the appraisal system 
Also available as a podcast on iTunes
This article looks at the nature of human resource management, and at the link between human resource management and performance management. It then examines aspects of the staff appraisal system, and considers the impact of these on the performance of an organisation.

Reward schemes for employees and management
Also available as a podcast on iTunes
A major part of performance management involves managing employees and managers, as their performance will have a major effect on the performance of the organisation as a whole. This article looks at how reward schemes can be used to influence the behaviour of employees.

Benchmarking 
Also available as a podcast on iTunes
Many governments around the world have undertaken reforms aimed at making public sector organisations more accountable. One of the key features of these reform programmes has been the increasing use of performance measures like benchmarking, where one organisation compares its performance in a specific area with another - the benchmark - to identify areas for improvement.

The Performance Prism 
The Performance Prism has been described as a second generation performance management framework. In this article, we find out why its authors consider it a necessary replacement for established performance models like the balanced scorecard and performance pyramid.

Economic value added versus profit-based measures of performance - part 1
In the first part of two articles, we look at an alternative performance measurement system, Economic Value Added - or EVA - which has gained widespread use among companies such as Siemens, Coca Cola and Herman Miller.

Economic value added versus profit-based measures of performance - part 2
The second part of an article on Economic Value Added (EVA focuses on how to interpret the calculated EVA and its use as both an organisational and divisional performance measure.

The risks of uncertainty - part 1
This article considers the concepts of risk and uncertainty will be introduced together with the use of probabilities in calculating both expected values and measures of dispersion.

The risks of uncertainty - part 2
In this article on the risks of uncertainty, we build upon the basics of risk and uncertainty addressed in the first article published in the first part to examine more advanced aspects of incorporating risk into decision making.

Transfer pricing
Transfer prices are almost inevitably needed whenever a business is divided into more than one department or division.

Not-for-profit organisations - part 1
The first part of the article broadly describes the generic characteristics of not-for-profit organisations.

Not-for-profit organisations - part 2
The second part of the article takes a specific and deeper look at charities, which are one of the more important types of not-for-profit organisations.

Accounting and organisational cultures
A look at the Financial Control Culture and the Excellence/Service Culture and the type of performance contracts associated with both.

Business failure
The various failure prediction models.

Defining managers' information requirements
How critical success factors are used.

Business strategy and performance models
This article provides a brief overview of three models to assist accountants in the determination of business strategy and in the appraisal of business performance.

The pyramids and pitfalls of performance measurement
This article outlines the issues which are central to the understanding and assessment of performance measurement.

Performance measures to support competitive advantage   
Also available as a podcast on iTunes
A focus on the success of airlines such as EasyJet and Ryanair and how the balanced scorecard might be utilised to maintain the low-cost carriers' competitive edge.

Beyond budgeting
A viewpoint has emerged during recent years which challenges the traditional approach to the budgeting process that has operated in both private and public sector organisations since time immemorial.

Management control - a pre-requisite for survival
This article explains why increasing recognition is given to satisfying the needs of different stakeholders.

Environmental management accounting
This article provides an insight into environmental management accounting, its increasing importance, and new developments.

Study support videos

Performance management
Doug Haste from BPP takes a look at performance measurement, which is relevant to Syllabus area E of Paper P5.
Cannot access Youtube? Watch it here


Syllabus updates

Changes to the ACCA Qualification Skills module and Professional level in 2014–15
This article explains the planned updates to the ACCA Qualification syllabuses taking place as part of the process of continuous syllabus refreshment and improvement. The article highlights structural changes to exams, including the latest syllabus changes.

ACCA embeds integrated reporting
Gareth Owen, ACCA qualifications development manager, outlines how the ACCA Qualification embraces the underlying principles of integrated reporting (IR). IR is a different way of presenting information about the business to its stakeholders and, as such, is a new and exciting development in financial reporting.

Making the best Options choices 
The Options papers are the final exam hurdle. Peter Redfern, ACCA qualifications manager, explains how choosing Options papers which you are most comfortable with will, hopefully, improve your chances of success.

Exam technique

Passing the Professional level papers
This article outlines what candidates can do to ensure they are well prepared for Professional level exams.

How to tackle exams - a marker's perspective
A lack of knowledge is not the only thing that can lead to exam failure - poor technique could also let you down.

Passing the Professional level papers
This article outlines what candidates can do to ensure they are well prepared for Professional level exams.


Last updated: 18 Sep 2014