The ACCA Performance Measurement exam is regarded as one of the most difficult exams of the ACCA Qualification. I also mentioned in my post that it is the ACCA paper that I found difficult in my ACCA journey. A lot of ACCA students attempt this paper numerous times, which is an indication of the level of difficulty of the ACCA paper. Here I will explain ACCA exams tips that you can follow to maximize your chances of passing this ACCA exam. One of the ACCA students requested for this post yesterday and I started to work on it right away and I hope this clarifies all her questions. Be free to leave a message on the comment section if you have anything that you need me to clarify with regards to any ACCA paper.
The first thing you want to do when studying for this ACCA paper is check out the ACCA syllabus and go through it. This will enable you to familiarize yourself with what is expected of you and also the major topics in this ACCA exam. Divisional performance, variances and expected costs are one of the topics that are regularly examined by ACCA and hence you must make sure that you pay close attention to them when perusing through the ACCA syllabus. The ACCA syllabus consists of 5 sections which are information, technologies and systems for organizational performance; specialist costs and management accounting techniques; decision making techniques; budgeting and controls; and finally, performance measurement and control. Familiarizing yourself with the ACCA PM syllabus will ensure that you do not leave out anything during the ACCA tuition phase.
After reading through the ACCA syllabus, read the ACCA study text at least once. I suggest BPP, but any approved ACCA study text will do the trick. I used BPP as an example because it’s the one that was recommended by most ACCA people. Read and understand, and do it chapter by chapter. I do not expect you to understand everything on the ACCA PM syllabus because no one does. But make an effort to understand at least 70% of every chapter. Do revision questions for every part of the chapter you complete to that you can gauge your level of understanding. Here you can read the ACCA PM questions, think about the answer, then check the answer to see if you are in the right path. Remember to jot down the important aspects of every chapter as a summary, you will need that information during the ACCA revision phase. Make sure that during this reading part of your ACCA preparation you leave enough time for ACCA revision. Cover the whole ACCA syllabus because you can never spot an ACCA exam, in fact, that is the primary reason why students fail this ACCA exam.
When all that has been done, you can start your ACCA revision of ACCA past papers. I suggest you pick ACCA papers from the last 5 years and focus on them. Practice writing because you are going to need that skill on ACCA exam day. Make sure you understand what you are calculating because failure to interpret calculations is one of the reasons why ACCA students fail the ACCAexam. Also, develop and polish your time management skills and if you are doing ACCA CBE exams, practice those ACCA exams under real exam conditions. ACCA offers CBE exams which mirror the real exam experience, make use of them. Practice every part of the ACCA syllabus and do no ignore any topic as the ACCA examiner has often mentioned that students often show a lack of knowledge of other topics that they deem as unimportant. Some of these topics include management information and management reports. Make sure you cover everything!
Also check out the ACCA examiner reports that are published on the ACCA website. This will help you avoid mistakes that are made by other ACCA students and ensure that you maximize your chances of passing. Remember to go through your short notes that you would have jotted done when reading the ACCA study text. This can be done whilst reading all the ACCA technical articles that are uploaded by ACCA. You can skip the whole reading of the study text and just acquire ACCA tuition videos and read the summary notes that institutions like LSBF offer. Reading the whole ACCA study text is daunting, but if you do not have access to these lectures, read the ACCA book.
After doing all this, you must be in a position to write your ACCA PM exam and pass. Continue studying well and consistently and ultimately you will pass this ACCA paper. Ignore the noise and anyone who says the ACCA PM paper is difficult and focus on your study and you will pass. I wish you the best in your ACCA studies. Goodluck…