F5 Review

Q1 + (if examiner is mean) operating statement
a) comment on 3 manager's decision
b) operating statement with variance

Q2 Linear Programming + shadow pricing (will be SUN if it weren't for the Article)
a) calculate contribution (2m)
b) linear programming and draw on graph paper
c) shadow pricing on labour & material
d) comment whether should pay the overtime

Q3 scope of Performance Management (FPIs & NFPIs) D07-2 Pilot-4
a) comment on financial performance of the forecast
b)calculate the given 3 situation
c) comment on the 3 situation
d) i don't remember, didn't do actually.

Q4 ABC
a) why is there changes in the cost per unit for CB & TJ
b) the problems that will occur changing from traditional to ABC
c) calculate cost per unit & margin using machine hour
d) calculate cost per unit & margin using ABC principles

3 sun(linear programming i thought it was a moon but it came out, FPI came out in D07 & pilot and will sure to come out every sitting)
1 star

Question 1
it's expected to have Variance question to come out...but to reconcile a budgeted profit to actual profit in marginal costing!!?!?!?! who would have expected that. luckily in my forecast under the star section i did point out about operating statement as it is in the study guide.

Question 2
linear programming question is considerably easy. it's do-able and time consuming. the shadow pricing, i don't remember what to do after adding additional 1 hour for labour and for material hopefully you all don't face the same problem as me. but should be able to answer

Question 3
examiner did mention in the report on D07 Q2 as follows:
-I see this type of question (the interpretation type) as central to performance management. It is what separates F2 from F5. Candidates need to be better prepared for future questions of this type. The Pilot paper had a similar question to Ties Only in it, which also gave financial and non financial data for a business. If you look at both these questions you should get a clear idea of how future questions will be set.

at this time, i started to panic cause i reallised i did not have enough time. so, that already clouded my mind. it's not very difficult to comment on the financial performance. but the calculation may confuse some of us. that is to prepare 1 forecast or 3 forecast. i believe it's 1 forecast with 3 proposal.

Question 4
if you panic due to the fact there isn't any time, the question will seem very very difficult like it did to me. but analysing it in detail and reasonable amount of time(if there WAS any), it was just another ABC question and principles.

Points LEARNED:
1. TIME MANAGEMENT.
this performance MANAGEMENT is all about time management. if you manage your time properly, all question should be done with equal amount of effort. If Quetion 1 and question 2 is done ONE hour each. that means your last question will only have 15 mins to finish 25 marks.

2. Right the first time
it's about quality control, there is NO TIME to correct your answer even if you wanted to do. it has to be the correct answer the moment you write it down. no second thoughts and no stopping to go back the previous question. just do and continue writing as time forbids.

3. know your facts
when you see a question, the idea should be there. you must have the structure of HOW THE ANSWER SHOULD LOOK LIKE. ie, the variance operating statement, linear programming & ABC. you cannot afford to waste time thinking how to write the format. it must be in your finger tips to KILL TIME.

To all,
What is done, is done. time to look at the future F7, F8 or F9 & other papers(for those who take 4 papers) and hope for the best.
Enjoy this holiday while you can


To Ms Voon sia,
see you next semester (said one of our classmate)