ACCA P5 - Advanced Performance Management

Introduction

Studying for the P5 exam

The content of this Knowledge Bank is not designed to be a substitute for a structured system of study towards the exams but rather should help complement your chosen study system.

In particular,

• we do not guarantee full syllabus coverage,
• the knowledge bank focusses on knowledge, concepts and ideas but has very few worked examples or graded exercises for you to practice,
• there are no past exam questions here to attempt
• examiner's articles are not repeated here.

We highly recommend that you complete a structured course of study and obtain text books and exam kits to improve your chances of exam success.

Using the Kaplan Financial Knowledge Bank

The main benefits of the way the content is presented and accessed via the Knowledge Bank are as follows:

• a quick answer to a quick question - if you have a P5 query then you should be able to access a trusted answer quickly and efficiently using either the search function, the top navigation bars or /and the side navigation.
• integrated knowledge - examiners often criticise students for not appreciating how different topics fit together. By following the structured links and navigation bars in the content, you can explore related concepts to integrate your knowledge.
• assumed knowledge - you can revise assumed knowledge from F5 or P3 by searching for the relevant topics and reading around the subjects.

The ACCA P5 syllabus

 A good page to start on if you are unclear where to begin would be the overview Management Accounting page and then explore further using the menu on the RHS.

Other useful starting points for exploration are linked to syllabus areas below.

The syllabus for P5 is split into 6 main areas:

A Strategic planning and control

As well as the overview Performance Management page , you could also recap strategic planning concepts starting on the Business Strategy page.

B External influences on organisational performance

Key issues surrounding environmental analysis can be explored using the strategic analysis page.

C Performance measurement systems and design

The most useful page for this section of the P5 syllabus would be the Management Information Systems page.

D Strategic performance measurement

In many respects this is the most important part of the P5 syllabus and you are advised to start with the Performance Management page and explore each of the sub-pages highlighted in the top menu. 

E Performance evaluation and corporate failure

The pages on Non-Financial Performance Indicators and Corporate Failure are particularly useful here.

F Current developments and emerging issues in performance management

As well as keeping an eye on any articles published on the ACCA website, you could look at the knowledge bank pages on environmental costing and Performance management in not-for-profit organisations.

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