Conquer paper F5!

as I won’t know the result for like 2 decades months, but anyway it’s done! I didn’t swot up as much as I usually do and I don’t regret it, I started working on it earlier this time so I learned more as I was going along. The calculations (2 in particular) were a bit beyond my abilities BUT that said there were other calculations I’d spent ages trying to master that didn’t come up, so you can’t win ‘em all I guess! I was still stressed the weekend before but I guess that’s just exams and me. I counted about 70 marks I thought I should get so as long as I pick up some on the ones I didn’t count and not lose too many on the ones I did (!!) I should be fine – will be disappointed if I don’t pass but then it’s not the end of the world.

I do feel a little ungrateful for not attempting to learn enough to ace it, but then I didn’t let it take over my life and I think given its relative importance to my future (not very high!) I made the right decision not to make it a priority.

Good to have it gone!

gave me 58% on just the calculation questions.

I did lots of pointlessly stupid things like not reading the question and assuming things were harder than they were. If I don’t get struck by a stupidity bolt in the exam then I can probably get that up to 65-70%.

And I just can’t do the tough variances. It doesn’t matter what they ask me, I am useless!

But, as long as the stuff I used today and yesterday is in my head I should at least pass the thing. Basic game-plan therefore is to:

• work on variances!!!!!!!
• cram theory & method cards so they’re in my head

I’m not doing more than that unless I develop an unrelenting passion for performance management in the next ten days!

3 weeks today! And although I didn’t get much done last week, I’m kind of relieved as I thought I only had 2 weeks! 3 weeks is long enough to learn anything, right?!

Must knuckle down!

Well I managed 13 Questions this week, so better than last week at least! I have 14 calculations still to do, a load to go back over, and all the essay questions to plan, but still 3 weeks to work on it.

Section A: Costs – I am basically happy on.
Section B: Decision Making – Probably needs the most work, there’s a lot of technical stuff, although I’m improving. Go over questions on all areas.
Section C: Budgeting – I am pretty hot on budgeting. Not much to come back to.
Section D: Variances – HARD, but my mistakes are always in the same places. Really swot up on advanced variances and this part will be OK.
Section E: Performance Management – Not done any questions yet but this is an easy section, just need to learn the ratio calculations and do some practice.

So still a lot of work to do BUT the good news is my revision notes are ready which is really well ahead, and I know what I have left to learn.

Vague plan of attack:
1) Section B – just keep going. Try to do one question a day here until I can do them all comfortably.
2) Section D – LEARN THE VARIANCE CALCULATIONS! Do one question a day.
3) Section E – Make a sart on the questions – one from each area to start with.

Then:
4) Essay questions: read/plan
5) Go back over questions I’ve tried and failed.

• Essay questions: 3
• Ratios: 7
• Transfer pricing: 3
• NFP: 1

10 practice questions this week, out of the 40 involving calculations, which is about half my most over-optimistic estimate, but probably spot on for the amount of time I have left. It was painful at the beginning but they definitely get easier as I get more practice. Must plough on next week and see if I can do more questions!

Really trying to focus on the idea of myself “conquering” this by the end of next week but that means I actually need to do some practice questions!!!

• Variances: 4
• Advance variances _ooooh: 7
• and there’s an essay question thrown in for fun

• Budgeting (various types): 4
• Quantitative Analysis _ming : 4

• Limiting Factors (4 Questions)
• Shadow Price (1 question)
• Opportunity Cost (1 question)
• Decision Making (4 questions)
• Pricing in general (1 question)
• Risk & Uncertainty (2 questions)

Section B is totally the worst!!

But I need to break this down into chunks. This paper is full of calculations which are mostly techniques to master rather than facts to cram. “Done” = topic mastered, able to do complete question completely unaided with a correct answer.

• Absorption/ABC
• Life cycle costing – no calc questions
• Target Costing – in that I’ve done the only practice question requiring a calculation and I didn’t get it 100% right but the mistake I made wasn’t a TC mistake it was a stupid generic mistake that I hope to remember not to do on other questions to make up for it!
• Throughput
• Backflush? are there any questions on this? No!

Reminder to self: need to go back and do the essay questions, even though they’re dull as hell.

[Edit: love how no-one’s cheered this goal. It’s dull as fuck. I wouldn’t cheer it!]