Passing the Advanced Performance Management exam is no easy feat, and records prove that this paper has the least passing scores. The variant is all about interpreting the concepts learned in management accounting and looking for solutions strewn in specific contexts. Naturally, because of the high interpretive nature of ACCA exams, students must make sure to stay on top of their game at all times.
Throughout the syllabus, strategic techniques might need to be applied to fit different situations and answer confusing questions. Such that, your knowledge skills should be top-notch to pass the Advanced Performance Management exam.
But is that all students need to do? The short answer is no. To ensure that your scores are good enough, follow these 5 tips to increase your chances of acing the ACCA Advanced Performance Management exam.
Time management is the Key for ACCA
Exams can be strenuous, which is why dodgy time management is a generic problem that students face across the globe. However, it cannot be denied that some exams are harder than others. For instance, a theory-based paper doesn’t need much mental crunch and, thus, not as much time.
With the ACCA Advanced Performance Management exam, you need to allocate the total time efficiently. Reserve different portions to thoroughly read the question, do appropriate calculations, and give relevant solutions. At the same time, you should aim to complete each question – the biggest mistake you can make with this paper is to leave something out. Remember, having an answer, be it average, will still get you more marks than leaving blank space.
Attempt past papers of ACCA
ACCA students are familiar with the benefits of practicing past papers, and the advanced performance management exam is no exception. While there are little to no chances that you’ll be blessed with a repeat question, you can brush up on the answering techniques . Therefore, you will be able to skim through the information and identify what should be included and used to answer a specific question. Additionally, you can also take it up a notch with P5 Advanced Performance Management notes and get access to details that would be otherwise unavailable. Get reading material from credible online websites like SKANS eCampus to make sure that you are on the right track.
Right off the bat, covering the entire syllabus is the most crucial part of ACCA exams. That said, the advanced performance management exam requires an understanding of a lot of extensive concepts. These primarily derive from management accounting, a course rich in multiple types of techniques, theories, and numerical.
Needless to say, preparation can take a long time, but at the end of the day, it pays off. More often than not, students skim through the content and end up missing out on important topics. This presents a daunting challenge whereby not just one but multiple questions in the actual exam may vary to incorrect answers.
So, you’ve prepared everything, that’s good! What about revision? Because the course load is worth hundreds of pages long. Thus, going into the exam without proper revision can be a recipe for disaster. Verily, you shouldn’t skip revising what you’ve learned. As a pro tip, you should revise each chapter and top it off by attempting a few practice questions. This will help you retain everything better and allow for better test scores.
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Learn the art of analysis
What sets advanced performance management apart from other exams is the amount of interpretation it demands. Attempting questions is the farthest thing from jotting down surface-level details; rather, it’s all about figuring out why something is the way it is. Doing this can be a little tricky, but with the right strategy and sufficient practice, you can easily conquer the art of accurately analyzing scenarios tested in ACCA advanced performance management.