ACCA F5 Performance Management aims to develop knowledge and skills in the application of management accounting techniques to quantitative and qualitative information for planning, decision-making, performance evaluation and control.

EXAM AIM

To develop knowledge and skills in the application of management accounting techniques to quantitative and qualitative information for planning, decision-making, performance evaluation and control.

RATIONALE

The syllabus for Paper F5, Performance Management, builds on the knowledge gained in Paper F2, Management Accounting and seek to examine candidates’ understanding of how to manage the performance of a business. It also prepares candidates for more specialist capabilities which are covered in P5 Advanced Performance Management.

The syllabus begins by introducing more specialized management accounting topics. There is some knowledge assumed from Paper F2 – primarily overhead treatments. The objective here is to ensure candidates have a broader background in management accounting techniques.

The syllabus then considers decision-making. Candidates need to appreciate the problems surrounding scarce resource, pricing and make-or-buy decisions, and how this relates to the assessment of performance. Risk and uncertainty are a factor of real-life decisions and candidates need to understand risk and be able to apply some basic methods to help resolve the risks inherent in decision-making.

Budgeting is an important aspect of many accountants’ lives. The syllabus explores different budgeting techniques and the problems inherent in them. The behavioural aspects of budgeting are important for accountants to understand, and the syllabus includes consideration of the way individuals react to a budget. The preparation of fixed, flexible and incremental budgets is assumed knowledge from F2 Management Accounting.

Standard costing and variances are then built on. All the variances examined in Paper F2 are assumed knowledge in F5. Mix and yield variances, and planning and operational variances are explored here and the link is made to performance management. It is important for accountants to be able to interpret the numbers that they calculate and ask what they mean in the context of performance.

The syllabus concludes with performance management systems, measurement and control. This is a major area of the syllabus. Accountants need to understand how a business should be managed and controlled and how information systems can be used to facilitate this.

They should appreciate the importance of both financial and non-financial performance measures in management. Accountants should also appreciate the difficulties in assessing performance in divisionalised businesses and the problems caused by failing to consider external influences on performance. This section leads directly to Paper P5. All of the subject areas covered in this syllabus could be examined in either a public sector or private sector context.

APPROACH TO EXAMINING THE SYLLABUS

The syllabus is assessed by a three-hour 15 minutes paper-based examination at an ACCA Designated Exam Centre.

All questions are compulsory. It will contain both computational and discursive elements.

Some questions will adopt a scenario/case study approach.

  • Section A of the exam comprises 15 multiple choice questions of 2 marks each.
  • Section B of the exam comprises three questions comprised of 5 multiple choice questions.
  • Section C of the exam comprises two 20 mark questions. The two 20 mark questions will come from decision making techniques, budgeting and control and/or performance measurement and control areas of the syllabus.

The section A questions and the questions in section B can cover any areas of the syllabus.

Candidates are provided with a formulae sheet.

Course Curriculum

ACCA F5 SECTION A: Specialist cost and management accounting techniques
ACCA F5 A1: Activity-based costing
ACCA F5 A1: Activity-based costing Details 00:00:00
Quiz ACCA F5 A1: Activity-based costing 00:00:00
ACCA F5 A2: Target costing
ACCA F5 A2: Target costing Details 00:00:00
Quiz ACCA F5 A2: Target costing 00:00:00
ACCA F5 A3: Life-cycle costing
ACCA F5 A3: Life-cycle costing Details 00:00:00
Quiz ACCA F5 A3: Life-cycle costing 00:00:00
ACCA F5 A4: Throughput accounting
ACCA F5 A4: Throughput accounting Details 00:00:00
Quiz ACCA F5 A4: Throughput accounting 00:00:00
ACCA F5 A5: Environmental accounting
ACCA F5 A5: Environmental accounting Details 00:00:00
Quiz ACCA F5 A5: Environmental accounting 00:00:00
ACCA F5 SECTION B: Decision-making techniques
ACCA F5 B1: Relevant cost analysis
ACCA F5 B1: Relevant cost analysis Details 00:00:00
Quiz ACCA F5 B1: Relevant cost analysis 00:00:00
ACCA F5 B2: Cost volume analysis
ACCA F5 B2: Cost volume analysis Details 00:00:00
Quiz ACCA F5 B2: Cost volume analysis 00:00:00
ACCA F5 B3: Limiting factors
ACCA F5 B3: Limiting factors Details 00:00:00
Quiz ACCA F5 B3: Limiting factors 00:00:00
ACCA F5 B4: Pricing decisions
ACCA F5 B4: Pricing decisions Details 00:00:00
Quiz ACCA F5 B4: Pricing decisions 00:00:00
ACCA F5 B5: Make-or-buy and other short-term decisions
ACCA F5 B5: Make-or-buy and other short-term decisions Details 00:00:00
Quiz ACCA F5 B5: Make-or-buy and other short-term decisions 00:00:00
ACCA F5 B6: Dealing with risk and uncertainty in decision making
ACCA F5 B6: Dealing with risk and uncertainty in decision making Details 00:00:00
Quiz ACCA F5 B6: Dealing with risk and uncertainty in decision making 00:00:00
ACCA F5 SECTION C: Budgeting and control
ACCA F5 C1: Budgetary systems and types of budget
ACCA F5 C1: Budgetary systems and types of budget Details 00:00:00
Quiz ACCA F5 C1: Budgetary systems and types of budget 00:00:00
ACCA F5 C2: Quantitative analysis in budgeting
ACCA F5 C2: Quantitative analysis in budgeting Details 00:00:00
Quiz ACCA F5 C2: Quantitative analysis in budgeting 00:00:00
ACCA F5 C3: Standard costing
ACCA F5 C3: Standard costing Details 00:00:00
Quiz ACCA F5 C3: Standard costing 00:00:00
ACCA F5 C4: Material mix and yield variances
ACCA F5 C4: Material mix and yield variances Details 00:00:00
Quiz ACCA F5 C4: Material mix and yield variances 00:00:00
ACCA F5 C5: Sales mix and quantity variances
ACCA F5 C5: Sales mix and quantity variances Details 00:00:00
Quiz ACCA F5 C5: Sales mix and quantity variances 00:00:00
ACCA F5 C6: Planning and operational variances
ACCA F5 C6: Planning and operational variances Details 00:00:00
Quiz ACCA F5 C6: Planning and operational variances 00:00:00
ACCA F5 C7: Performance analysis
ACCA F5 C7: Performance analysis Details 00:00:00
Quiz ACCA F5 C7: Performance analysis 00:00:00
ACCA F5 SECTION D: Performance measurement and control
ACCA F5 D1: Performance management information systems
ACCA F5 D1: Performance management information systems Details 00:00:00
Quiz ACCA F5 D1: Performance management information systems 00:00:00
ACCA F5 D2: Sources of management information
ACCA F5 D2: Sources of management information Details 00:00:00
Quiz ACCA F5 D2: Sources of management information 00:00:00
ACCA F5 D3: Management reports
ACCA F5 D3: Management reports Details 00:00:00
Quiz ACCA F5 D3: Management reports 00:00:00
ACCA F5 D4: Performance analysis in private sector organisations
ACCA F5 D4: Performance analysis in private sector organisations Details 00:00:00
Quiz ACCA F5 D4: Performance analysis in private sector organisations 00:00:00
ACCA F5 D5: Divisional performance and transfer pricing
ACCA F5 D5: Divisional performance and transfer pricing Details 00:00:00
Quiz ACCA F5 D5: Divisional performance and transfer pricing 00:00:00
ACCA F5 D6: Performance analysis in not-for-profit organisations and the public sector
ACCA F5 D6: Performance analysis in not-for-profit organisations and the public sector Details 00:00:00
Quiz ACCA F5 D6: Performance analysis in not-for-profit organisations and the public sector 00:00:00
ACCA F5 D7: External considerations and behavioural aspects
ACCA F5 D7: External considerations and behavioural aspects Details 00:00:00
Quiz ACCA F5 D7: External considerations and behavioural aspects 00:00:00

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