Exam Digest for the P Papers – Issue 1

eemeiyi —  November 3, 2016 — Leave a comment

exams-digest

P1 Governance, Risk and Ethicsedp1

The examination consisted of two sections. Section A contained one question for 50 marks and section B contained three questions of 25 marks each from which candidates had to answer two questions.

P1 questions are based on case scenarios and those candidates who studied the information in the case and applied it suitably in their answer were well rewarded. There is a temptation for candidates to use bookwork type answers and reproduce remembered notes and candidates taking this approach are unlikely to be well rewarded. There is sometimes a temptation to spend more time answering the questions and requirements that candidates are happier with but most candidates need to answer all of the questions on the paper to receive a passing mark so good time budgeting is important.

Read the full Examiner’s report here.

Resources to help you prepare

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P2 Corporate Reportingedp2

The examination consisted of two sections. Section A contained one question for 50 marks and Section B contained three questions of 25 marks each, from which candidates had to answer two questions. The Corporate Reporting examination requires a deep understanding and knowledge of the Conceptual Framework, IFRSs and Code of Ethics.

In preparing for the exam, candidates should review relevant websites including those of the standard setters (IASB), the profession, and the ACCA. Candidates should have actively practiced past papers and exam-standard questions under timed conditions. Candidates with good exam technique (such as allocating time according to marks available, making brief answer plans, and reading the scenario and requirements carefully before answering) are more likely to succeed.

Most examination questions include narrative that can often provide more guidance on the focus of an answer, so candidates should ensure that they read the full question carefully. Candidates should also ensure that they meet the requirements in full to maximise their opportunities for gaining marks, and be aware of where to focus their attention. Where the requirements uses words like “briefly” then this aspect should be given less emphasis in the answer. Where the requirement asks for candidates to “prepare”, then there is no need to provide lengthy explanation beyond the workings needed as a part of the preparation process.

Read the full Examiner’s report here.

Resources to help you prepare

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P3 Business Analysisedp3

The examination consisted of two sections. Section A contained one question for 50 marks and Section B contained three questions of 25 marks each, from which candidates had to answer two questions.

As with previous examinations, there was some evidence that a number of candidates are reliant on knowledge of key topics and theoretical models, rather than the ability to apply that knowledge in the context of the scenarios presented. Rote learning of theory and theoretical models is unlikely to provide the depth required to achieve high marks in this subject. Candidates should ensure that they can understand and apply models to a variety of situations to prepare themselves for this examination. Candidates who add value to the information provided in the scenario will earn higher marks than those who simply repeat the information. If candidates consider why they believe that information to be important, it should help to add value to their response

It is also necessary to recognise that there isn’t a theoretical model for every occasion; business analysis, by its nature, will sometimes require an ad-hoc approach. In addition to the ability to apply knowledge and select appropriate information, candidates should also ensure that they are able to manipulate quantitative data to support the understanding of situations. This may be in a specified manner or through the general use of such data. There are often some quite straightforward marks to be obtained through the use of quantitative data, which many candidates fail to make the most of.

Read the full Examiner’s report here.

Resources to help you prepare

If you have missed the previous ACCA P3 Exam Techniques Masterclass, catch up with it .

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