F5 Tips Kaplan • Variances - planning and operational variances. • Throughput accounting and TOC. • Learning curves. • Expected values, Maximax, maximin and minimum regret. • Pricing equations and pricing strategies. • Activity based budgeting; rolling budgets. • Non financial performance indicators. • Environmental management accounting. • Systems - open and closed systems. Becker • Section A – throughput accounting or environmental management accounting. • Section B – linear programming. • Section C – a budget calculation possibly including activity based budgeting. • Section D – variances, discussion of usefulness of budgets. • Section E – divisional performance measurement including residual income. BPP The exam will contain five compulsory questions, each worth 20 marks. The questions will usually be broken down into smaller requirements and be based on a short realistic scenario. Given that at approximately 50% of the marks available will be for written requirements it is essential that you practice discursive questions as well as numerical ones when studying for F5. You should also ensure that you have learnt that advantages and disadvantages of various techniques so you are able to secure the easier knowledge marks. The syllabus for this paper is very broad, an understanding of all areas is necessary to pass the exam. It would be reasonable to expect one topic from each of the five syllabus areas to be tested. The examiner has repeatedly stated that question spotting is not a suitable way to approach F5. She can and will test all aspects of the syllabus. The examiner expects students to have read the technical articles published in the Student Accountant relevant for F5. Even with this in mind there are some general themes which crop up in most exams: variances have always been tested historically. Given the syllabus changes for 2013 it is likely that mix and yield and/or planning and operational variances will be the focus of a variance question. First Intution * Throughput accounting. * Environmental accounting. * Limiting factors. * Relevant costs. * Budgeting techniques. * Flexed budgets. * Labour variances with learning curves. * Transfer pricing. De Montfort * ABC. * Linear Programming. * Environmental Costing. * Mix and Yield variances. Health Warning : These tips are only guesses at best. Then why am I giving it ? – There might be some of you who are contemplating not writing the exam, for them its a chance to have a go at the limited syllabus in the tips and write. Why at the last moment and not earlier ? – To ensure that you won’t have a chance to tell me that you excluded a portion because it was not in my tips. Good luck to you all and a happy sunrise on Feb.8
Posted on: Sun, 01 Dec 2013 16:25:03 +0000
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