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Performance Management
Paper F5
Course Notes
ACF5CN07(D)
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F5 Performance Management
Study Programme
Page
Introduction to the paper and the course............................................................................................................... (ii)
1 Costing ........................................................................................................................................................ 1.1
2a Activity based costing ................................................................................................................................ 2a.1
2b Target costing............................................................................................................................................ 2b.1
2c Life cycle costing ........................................................................................................................................2c.1
2d Backflush accounting................................................................................................................................. 2d.1
2e Throughput accounting.............................................................................................................................. 2e.1
End of Day 1 – refer to Course Companion for
Home Study
Progress test 1
3
Limiting factor analysis ................................................................................................................................ 3.1
4
Pricing decisions ......................................................................................................................................... 4.1
5
Short term decisions.................................................................................................................................... 5.1
6
Risk and uncertainty .................................................................................................................................... 6.1
End of Day 2 – refer to Course Companion for
Home Study
Progress test 2
Course exam 1
7 Objectives of budgetary control ................................................................................................................... 7.1
8 Budgetary systems ...................................................................................................................................... 8.1
9a Quantitative analysis in budgeting............................................................................................................. 9a.1
9b Learning curves ......................................................................................................................................... 9b.1
10 Budgeting and standard costing ................................................................................................................ 10.1
11a Variance analysis .................................................................................................................................... 11a.1
End of Day 3 – refer to Course Companion for Home Study
Progress test 3
11b Further variance analysis ........................................................................................................................ 11b.1
12 Behavioural aspects of standard costing................................................................................................... 12.1
13 Performance management ........................................................................................................................ 13.1
14 Divisional performance measures ............................................................................................................. 14.1
15 Further performance management............................................................................................................ 15.1
End of Day 4 – refer to Course Companion for Home Study
Progress test 4
Course exam 2
16
Answers to lecture examples..................................................................................................................... 16.1
17
Question and Answer bank ....................................................................................................................... 17.1
18
Appendix A: Pilot Paper questions ........................................................................................................... 18.1
19
Appendix B: Relevant articles.................................................................................................................... 19.1
20
Appendix C: Mathematical formulae.......................................................................................................... 20.1
Don’t forget to plan your revision phase!
•
Revision of syllabus
BPP provides revision courses, question days,
mock days and specific material to assist you in
this important phase of your studies.
•
Testing of knowledge
•
Question practice
•
Exam technique practice
(i)
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INTRODUCTION
Introduction to Paper F5 Performance Management
Overall aim of the syllabus
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.
The syllabus
The broad syllabus headings are:
A
Specialist cost and management accounting techniques
B
Decision making techniques
C
Budgeting
D
Standard costing and variance analysis
E
Performance Measurement and control
Main capabilities
On successful completion of this paper, candidates should be able to:
• Explain, apply, and evaluate cost accounting techniques
• Select and appropriately apply decision-making techniques to evaluate business choices and promote
efficient and effective use of scarce business resources, appreciating the risks and uncertainty inherent
in business and controlling those risks
• Apply budgeting techniques and evaluate alternative methods of budgeting, planning and control
• Use standard costing systems to measure and control business performance and to identify remedial
action
• Assess the performance of a business from both a financial and non-financial viewpoint, appreciating
the problems of controlling divisionalised businesses and the importance of allowing for external
aspects.
Links with other papers
Advanced
Performance
Management (P5)
Performance
Management (F5)
Management
Accounting (F2)
(ii)
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INTRODUCTION
F5 is the middle paper in the management accounting section of the qualification structure. It builds upon F2
which covers techniques and feeds into P5 which requires you to think strategically and consider environmental
factors.
F5 requires you to be able to apply techniques and think about their impact on the organisation. It seeks to
examine candidates’ understanding of how to manage the performance of a business.
Assessment methods and format of the exam
Examiner : Geoff Cordwell
The examination is a three hour paper with 15 minutes' reading time.
Format of the Exam
4 compulsory 25-mark questions
Questions on each paper will be drawn from as many of the five syllabus areas as possible. It is likely that
they will be based on simple, realistic scenarios. The paper will be approximately 50% calculation, 50%
discussion, but it is unlikely that a fully written question will be set. Wherever possible students will first be
asked to analyse / interpret given numbers and then prepare calculations of their own.
(iii)
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