When it comes to ACCA APM exams, we all know that this is among the most challenging exams that ACCA students attempt. It always has the lowest pass rates, and students genuinely struggle with getting the final certification because of courses like this.
Here are five essential tips that will help you understand how you can better utilize your P5 advanced performance management notes and also pass the exams on the first or second attempt.
Revise Recurring Questions from the Past Exams
P5 includes the major concepts from the previous exams, and it is crucial to know about these concepts and questions to ensure that you will be getting decent grades. Most students lose the exams simply because they do not have clear concepts that they have already read in earlier modules.
The exams will focus on the application of these concepts, so do not cram them. Make sure to try and apply the concepts in real-life accounting scenarios, and you will have a firm grip of the practical application of the theory that will come handy during your exams.
Read the Requirements Carefully
The requirements presented in the ACCA APM exam are complicated and hard to follow. You will be remiss if you do not understand them well. Read the criteria twice or thrice or refer to ACCA APM past papers for having an idea. Then jot the major requirements down on a piece of paper. Now reread them and make sure that you have listed all of them correctly.
If you know the answer to a question and miss it due to mismanagement, you will regret it afterwards. You are better off doing the responsible thing and making sure that you have attempted the question as asked by the examiner.
Minor Details are Crucial
The difference between ‘evaluating performance’ and ‘evaluating performance report’ can guide you on how to answer the question in the right way, and you will ace the exam. Performance evaluation and performance report evaluation are to an entirely different phenomenon in ACCA APM.
In a short time, you will have to answer the question to the point and by being in the context. Reading comprehension is everything and taking help from ACCA APM past papers can work like wonders. When you are answering practice test samples, always put a time clock. That time clock will allow you to have clarity about how to answer the questions quickly and succinctly.
Pay Attention to the Attached Points
If a question is worth five points, you cannot spend more than 10 minutes on the problem. If a question asks to explain five significant issues and then clearly explain the five points in two lines each. That is the total amount of time and energy you should spend on that question. If you don’t have an idea about such questions, you can find them in ACCA APM past papers.
There are many complex questions in P5 exams with small grades breakdown to give you a clear idea of how to manage the time. Always start with the final answer after brainstorming, then explain the logic. Don’t waste a lot of time on questions that need fewer efforts and have a lower percentage. You will need to practice answering such questions beforehand in your P5 advanced performance management notes to be on the safe side.
Solve Easy Questions First
Easy questions are always there in every question paper and you can see that from ACCA APM past papers. If you find them in time, you can be highly successful and get decent grades. Questions like advantages versus disadvantages, professional problems, ethical questions, models, and technique definitions are great.
Always memorize these points from your P5 advanced performance management notes when preparing for the ACCA APM exam. These points will act as a catalyst to boost the performance in the exam by giving you confidence that you know the questions, and your overall grades will ultimately be better. Many individuals who do well in these exams always depend on such easy to medium level questions to pull them through.
All in all, P5 preparations are tricky because you have a small amount of tie and highly advanced paper. You will need to make sure that you are doing it right by using the correct strategy. Prepare to answer these questions beforehand.
Best of luck with your exam preparations!