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CIMA Education 2010 Syllabus - FOCUSED ON THE FUTURE
How to study effectively and please the examiner
March 2012
CIMA Education 2010 Syllabus - FOCUSED ON THE FUTURE
About me
Rebecca McCaffry ACMA, CGMAStudy Support & Learning SpecialistCIMA
http://community.cimaglobal.com/blogs/rebecca-mccaffry
CIMA Education 2010 Syllabus - FOCUSED ON THE FUTURE
http://community.cimaglobal.com/blogs/rebecca-mccaffry
CIMA Education 2010 Syllabus - FOCUSED ON THE FUTURE
How to study effectively
• Syllabus• Verb hierarchy• Study planning• Revision planning• Free study resources from CIMA
How to please the examiner
CIMA Education 2010 Syllabus - FOCUSED ON THE FUTURE
Syllabus overview and structure
How the examiner will test you
You should be able to...
You need to know about...
CIMA Education 2010 Syllabus - FOCUSED ON THE FUTURE
Verb hierarchyLearning objective Verbs used
Level 1:Knowledge
ListStateDefine
Level 2:Comprehension
DescribeDistinguishExplain
IdentifyIllustrate
Level 3:Application
ApplyCalculateDemonstrate
PrepareReconcileSolveTabulate
Level 4:Analysis
Analyse CategoriseCompare and contrast Construct
Discuss InterpretPrioritiseProduce
Level 5:Evaluation
AdviseEvaluate
Recommend
CIMA Education 2010 Syllabus - FOCUSED ON THE FUTURE
Verb hierarchy
• 1: Knowledge – you have to know(facts - theories - techniques)
• 2: Comprehension – you have to understand(history - background - strengths - weaknesses -links between topics)
• 3: Application – you have to be able to do it (apply knowledge in different contexts)
CIMA Education 2010 Syllabus - FOCUSED ON THE FUTURE
Verb hierarchy
• 4: Analysis – you have to identify problems and look at
complex practical solutions
– you have to apply a proposed solution, then discuss issues arising from the application
CIMA Education 2010 Syllabus - FOCUSED ON THE FUTURE
Verb hierarchy
• 5: Evaluation– you have to identify possible solutions and discuss their strengths and weaknesses...
...then recommend and justify the most appropriate solution
CIMA Education 2010 Syllabus - FOCUSED ON THE FUTURE
Verb hierarchy
Performance Pillar Financial Pillar
Paper P1 - Performance Operations
Paper P2 - Performance Management
Enterprise Pillar
Paper F2 - Financial
Management
Paper F1 - Financial
Operations
Paper F3 -Financial Strategy
Paper P3 - Performance
Strategy
Paper E3 -Enterprise Strategy
Test of Professional Competence in Management Accounting
Pre-requisite Entry Requirements (e.g. CIMA Certificate in Business Accounting)
Str
ateg
icLe
vel
Man
agem
ent
Leve
l
Paper E1 -Enterprise Operations
Paper E2 - Enterprise
Management
Award - CIMA Advanced Diploma in Management Accounting
Award - CIMA Diploma in Management Accounting
Ope
ratio
nal
Leve
l
Award – Member of the Chartered Institute of Management Accountants
Part A – Initial Professional Development – Assessment of
Work Based Practical Experience
Part B – Case Study Examinationbased on Preseen and Unseen
MaterialP
rofe
ssio
nal
Com
pete
nce
Performance Pillar Financial Pillar
Paper P1 - Performance Operations
Paper P2 - Performance Management
Enterprise Pillar
Paper F2 - Financial
Management
Paper F1 - Financial
Operations
Paper F3 -Financial Strategy
Paper P3 - Performance
Strategy
Paper E3 -Enterprise Strategy
Test of Professional Competence in Management Accounting
Pre-requisite Entry Requirements (e.g. CIMA Certificate in Business Accounting)
Str
ateg
icLe
vel
Man
agem
ent
Leve
l
Paper E1 -Enterprise Operations
Paper E2 - Enterprise
Management
Award - CIMA Advanced Diploma in Management Accounting
Award - CIMA Diploma in Management Accounting
Ope
ratio
nal
Leve
l
Award – Member of the Chartered Institute of Management Accountants
Part A – Initial Professional Development – Assessment of
Work Based Practical Experience
Part B – Case Study Examinationbased on Preseen and Unseen
MaterialP
rofe
ssio
nal
Com
pete
nce
Generally assessed at Levels 1 to 3Knowledge – Comprehension - Application
Generally assessed at Levels 2 to 4Comprehension – Application - Analysis
Generally assessed at Levels 3 to 5Application – Analysis - Evaluation
Generally assessed at Levels 3 to 5Application – Analysis - Evaluation
CIMA Education 2010 Syllabus - FOCUSED ON THE FUTURE
1a: Interpret a full range of accounting ratios
• Interpret (L4) – make more understandable
• Calculate (L3) – do the maths!
• Distinguish (L2) between – highlight differences
• List (L1) – make a list of
F2 learning outcome C1a
Syllabus area C – analysis and interpretation of financial accounts
CIMA Education 2010 Syllabus - FOCUSED ON THE FUTURE
• List (L1) the parts of...• Describe (L2)...• Explain (L2) the purpose of...• Calculate (L3) the cost of...• Discuss (L4) the benefits of...• Evaluate (L5) the value of...
Verb hierarchy
Understand what the verbs mean: examples
CIMA Education 2010 Syllabus - FOCUSED ON THE FUTURE
• Article by former CIMA examiner David Harris:www.cimaglobal.com/verbs
• Video on verbs and exam techniques:www.cimaglobal.com/examtechniques
Verb hierarchy
Further detail on the CIMA verbs:
CIMA Education 2010 Syllabus - FOCUSED ON THE FUTURE
Study planning
• Time available – 200 hours self study per paper
• Where to study?
• Don’t neglect your social life!
CIMA Education 2010 Syllabus - FOCUSED ON THE FUTURE
Your personal study planMorning Afternoon Evening
Monday Work – read FM magazine
Work Chapters 1-3 of textbook
Tuesday Work Work – skim readchapter 4
College class
Wednesday Work – read CIMAsphere updates
Work Rebecca’s birthdaydrinks
Thursday Work Work Chapter 4 of textbook
Friday Work Work Collapse in front of TV and eat pizza
Saturday Review study notes Dave’s wedding Dave’s wedding
Sunday Stay in bed! Exam questions (timed)
Review exam questions
CIMA Education 2010 Syllabus - FOCUSED ON THE FUTURE
Revision planning
• Try to start your revision programme 4 weeks before your exams
• Ask your employer for study/exam leave
• Avoid going on holiday if at all possible!
• Follow our 4 step revision plan:
CIMA Education 2010 Syllabus - FOCUSED ON THE FUTURE
4 step revision plan
1. Revise the main syllabus topics one area at a time then attempt as many past paper questions as you can on that topic.
2. Check your answers against the exam solutions, and re-revise areas you have scored poorly in.
3. Read through the post exam guides and FM articles for hints and tips as to how to tackle problem questions.
4. Re-attempt the past paper questions (without notes!) to strict time -1.8 minutes per mark.
CIMA Education 2010 Syllabus - FOCUSED ON THE FUTURE
Plan your revision timeMorning Afternoon Evening
Monday Work Work Write up revision cards
Tuesday Work – read FM articles
Work – review revision cards
Timed exam questions
Wednesday Work – read FM articles
Work – reviewrevision cards
Early night – college tomorrow!
Thursday Study leave - revision class
Study leave -revision class
Read through class notes
Friday Study leave – sit mock exam
Study leave -Review mock exam
Pub
Saturday Sit mock exam Review mock exam Cinema
Sunday Football Watch exam techniques video
Timed exam questions
CIMA Education 2010 Syllabus - FOCUSED ON THE FUTURE
• Syllabus
• Past exam papers and model answers
• Post exam guides (PEGs)
• Technical articles – FM magazine
• Study articles – Velocity magazine
• ‘Ask a Tutor’ – every April and October
• CIMAsphere boards, groups, blogs
• CIMA local and student events
• Video on verbs and exam techniques
Free CIMA study resources
CIMA Education 2010 Syllabus - FOCUSED ON THE FUTURE
P2 May 2011 PEGThe overall performance was a little disappointing, especially as the paper contained topics that had been tested in several recent papers such as transfer pricing, the product life cycle, performance measures in the service sector, costing techniques and variance analysis. The inclusion of variance analysis and NPV calculations reinforced the progressive nature of this syllabus. It is also an important reminder to candidates who are sitting this paper for the first time, having gained exemptions from the Certificate Level Fundamentals of Management Accounting, and P1, that they must ensure they identify any ‘knowledge gaps.’
The papers submitted by many candidates were good but some well documented weaknesses once again appeared.
Firstly, the answers to discursive questions were weak, for two main reasons. It is apparent that very few candidates take the time to plan their answers. The result is a disorganised answer and the duplication of points. The second reason, once again, is the poor interpretation of verbs used in questions. For example candidates must understand the difference between “list” and “discuss”.
It is also important to highlight once again the extremely poor presentation of answers both for discursive and for quantitative answers. The quality of handwriting was so poor in some cases that marks simply could not be awarded. Many candidates exhibited bad habits including: writing in the margins, failing to use any form of punctuation and not indicating the part of the question being attempted.
CIMA Education 2010 Syllabus - FOCUSED ON THE FUTURE
P2 May 2011 PEGThe overall performance was a little disappointing, especially as the paper contained topics that had been tested in several recent papers such as transfer pricing, the product life cycle, performance measures in the service sector, costing techniques and variance analysis. The inclusion of variance analysis and NPV calculations reinforced the progressive nature of this syllabus. It is also an important reminder to candidates who are sitting this paper for the first time, having gained exemptions from the Certificate Level Fundamentals of Management Accounting, and P1, that they must ensure they identify any ‘knowledge gaps.’
The papers submitted by many candidates were good but some well documented weaknesses once again appeared.
Firstly, the answers to discursive questions were weak, for two main reasons. It is apparent that very few candidates take the time to plan their answers. The result is a disorganised answer and the duplication of points. The second reason, once again, is the poor interpretation of verbs used in questions. For example candidates must understand the difference between “list” and “discuss”.
It is also important to highlight once again the extremely poor presentation of answers both for discursive and for quantitative answers. The quality of handwriting was so poor in some cases that marks simply could not be awarded. Many candidates exhibited bad habits including: writing in the margins, failing to use any form of punctuation and not indicating the part of the question being attempted.
CIMA Education 2010 Syllabus - FOCUSED ON THE FUTURE
P2 May 2011 PEG
CIMA Education 2010 Syllabus - FOCUSED ON THE FUTURE
Hints from November 2011 PEGs
• E1 (Global pass rate 56%)Problem area: section CReasons: candidates didn’t write enough and failed to address the scenarios given.
• F1 (Global pass rate 56%)Problem area: section A and q4 (groups)Reasons: missing out questions, general lack of preparation on consolidated group statements.
CIMA Education 2010 Syllabus - FOCUSED ON THE FUTURE
Hints from November 2011 PEGs
• P1 (Global pass rate 53%)Problem area: section CReasons: – not reading the question properly. Q3 requirement
was for a reconciliation statement of materialcosts (NOT labour or overhead variances!)
– Poor knowledge of how to calculate mix and yield, planning and operational variances
– Inability to explain variances
CIMA Education 2010 Syllabus - FOCUSED ON THE FUTURE
Hints from November 2011 PEGs
• E2 (Global pass rate 47%)Problem area: section BReasons: – candidates not reading the question properly.
Q6b requirement was for a discussion of strategic management models and frameworks, so you need more than one!
– Lack of preparation – many students could not answer a question on the CIMA code of ethics
CIMA Education 2010 Syllabus - FOCUSED ON THE FUTURE
Hints from November 2011 PEGs
• F2 (Global pass rate 48%)Problem area: section BReasons: – lack of competence in the areas of consolidation
and financial analysis.– evidence of rote learning, with many
unnecessary workings. Candidates do not seem to understand the basic principles.
Examiner article: February 2012 Velocity
CIMA Education 2010 Syllabus - FOCUSED ON THE FUTURE
Hints from November 2011 PEGs
• P2 (Global pass rate 49%)Problem areas: written questions and divisional performance calculationsReasons: – poor presentation– lack of planning and workings– failing to answer the question asked– mixing up different parts of a question– not relating the answer to the scenario given
CIMA Education 2010 Syllabus - FOCUSED ON THE FUTURE
Hints from November 2011 PEGs
• E3 (Global pass rate 43%)Problem areas: q2 (Porter’s 5 Forces/Diamond)Popular question, but answered badlyReasons: – lack of depth and analysis– lack of application to scenario– descriptive rather than analytical answers– no evaluation of the effect on profitability
CIMA Education 2010 Syllabus - FOCUSED ON THE FUTURE
Hints from November 2011 PEGs
• F3 (Global pass rate 46%)Problem areas: none specific to questions
Reasons: – poor presentation leading to ‘disordered thinking’– loss of presentation/structure marks– general answers, unrelated to scenario
CIMA Education 2010 Syllabus - FOCUSED ON THE FUTURE
Hints from November 2011 PEGs
• F3 narrative questions marking guide:‘1b(ii) Discuss the appropriateness of each of the valuation approaches used in your answer to 1b(i)’
• 0.5 marks per bullet point• 1 mark for an attempt at correct, valid discussion• 2 marks for a good discussion• 3 marks if appropriate examples are included
CIMA Education 2010 Syllabus - FOCUSED ON THE FUTURE
Hints from November 2011 PEGs
• P3 (Global pass rate 50%)Problem areas: ethics, financial riskReasons: – inability to answer written questions on
financial risk– failure to apply knowledge to scenario– failure to answer the question asked– missing out parts of questions– vague, non-specific answers
CIMA Education 2010 Syllabus - FOCUSED ON THE FUTURE
Hints from November 2011 PEGs
• T4 (Global pass rate 60%)Problem areas: time management, integrationReasons: – Failing to use strategic models in analysis– Failure to recognise key issues– Calculations (revenue, depreciation)– Repeating case study material without analysis– Poor recommendations on ethical issues
CIMA Education 2010 Syllabus - FOCUSED ON THE FUTURE
www.cimaglobal.com/resourcemaps
CIMA Education 2010 Syllabus - FOCUSED ON THE FUTURE
How to please the examiner
CIMA Education 2010 Syllabus - FOCUSED ON THE FUTURE
• Understand the structure of the paper
• Learn from past exam papers
• Use the reading time effectively
• Read the question
• Plan your answer
• Answer the question asked
• Rules of the game
How to please the examiner
CIMA Education 2010 Syllabus - FOCUSED ON THE FUTURE
• Look at past exam papers (available free from ‘Student Information’ link in MyCIMA)
• How many marks is each question worth?
• How many questions must I attempt?
How to please the examiner
Understand the structure of the paper:
CIMA Education 2010 Syllabus - FOCUSED ON THE FUTURE
How to please the examiner
Understand the structure of the paper:
Section A Section B Section C
Operational(E1, P1, F1)
5 to10 questions20% of marks
6 questions30% of marks
1 or 2 questions50% of marks
Management(E2, P2, F2)
5 questions50% of marks
1 or 2 questions50% of marks
Strategic(E3, P3, F3)
up to 4 questions(case study) 50% of marks
2 out of 3 questions50% of marks
CIMA Education 2010 Syllabus - FOCUSED ON THE FUTURE
• Read what the examiner has said about the performance of candidates in previous exams – ‘post exam guides’ (PEGs)
• Practice exam standard questions and sit mock exams, under exam conditions
• Develop your exam tactics
How to please the examiner
Learn from past exam papers:
CIMA Education 2010 Syllabus - FOCUSED ON THE FUTURE
The examiners say……
“ There is little evidence that students are optimising the reading time in order to score more marks”
How to please the examiner
Use the reading time effectively:
CIMA Education 2010 Syllabus - FOCUSED ON THE FUTURE
Read the question requirements first!
Underline the verbs in the requirement
Annotate or highlight the question paper
Open or write in the answer book
Use a calculator
How to please the examiner
Use the reading time effectively:
CIMA Education 2010 Syllabus - FOCUSED ON THE FUTURE
• Operational papers: work through section A
• Management papers: plan section B answers
• Strategic papers: decide which two of the three section B questions you will attempt, and plan your answers
• T4 part B – read and make notes on unseen
How to please the examiner
Use the reading time effectively: suggestions
CIMA Education 2010 Syllabus - FOCUSED ON THE FUTURE
The examiners say……
“ Two of the main reasons why candidates lose marks are by answering only part of the question, and by answering the question they hoped for rather than the question asked.”
How to please the examiner
Read the question:
CIMA Education 2010 Syllabus - FOCUSED ON THE FUTURE
The examiners say you must …….Slow down Break down
Analyse…. the precise requirements of the question asked
- and remember what the verbs mean in the context of your answer
How to please the examiner
Read the question:
CIMA Education 2010 Syllabus - FOCUSED ON THE FUTURE
Wherever possible, use the question as a guide for planning the structure and content of your answer
How to please the examiner
Plan your answer:
CIMA Education 2010 Syllabus - FOCUSED ON THE FUTURE
Plan your answer - an example requirement:“Explain the advantages and disadvantages of the two alternatives proposed, clearly indicating which one you recommend the company to accept.”
How to please the examiner
CIMA Education 2010 Syllabus - FOCUSED ON THE FUTURE
Plan your answer - an example requirement:“Explain the advantages and disadvantages of the two alternatives proposed, clearly indicating which one you recommend the company to accept.”
How to please the examiner
CIMA Education 2010 Syllabus - FOCUSED ON THE FUTURE
Plan your answer - an example requirement:“Explain the advantages and disadvantages of the two alternatives proposed, clearly indicating which one you recommend the company to accept.”
How to please the examiner
CIMA Education 2010 Syllabus - FOCUSED ON THE FUTURE
Plan your answer - an example requirement:“Explain the advantages and disadvantages of the two alternatives proposed, clearly indicating which one you recommend the company to accept.”
How to please the examiner
CIMA Education 2010 Syllabus - FOCUSED ON THE FUTURE
Plan your answer - an example requirement:“Explain the advantages and disadvantages of the two alternatives proposed, clearly indicating which one you recommend the company to accept.”
How to please the examiner
CIMA Education 2010 Syllabus - FOCUSED ON THE FUTURE
Plan your answer - suggested structure:Alternative 1
Advantages:xxxxxxxxxxxxxxxxxxxxxDisadvantages:xxxxxxxxxxxxxxxxxxxxx
Alternative 2Advantages:xxxxxxxxxxxxxxxxxxxxxDisadvantages:xxxxxxxxxxxxxxxxxxxxx
RecommendationThe company should accept alternative 2.
How to please the examiner
CIMA Education 2010 Syllabus - FOCUSED ON THE FUTURE
• Use headings (set these out in your answer plan)
• Use short concise sentences – 20 words max
• Use 3-4 sentence paragraphs, leaving gaps between them
• Use bullet points only if they contain at least one full sentence
How to please the examiner
Answer the question asked:
CIMA Education 2010 Syllabus - FOCUSED ON THE FUTURE
• Apply knowledge and techniques in context –always relate back to the scenario
• Add value by mentioning relevant theory and examples
• Resist the temptation to tell the examiner everything you know about the topic - only provide the answer to the question asked
How to please the examiner
Answer the question asked:
CIMA Education 2010 Syllabus - FOCUSED ON THE FUTURE
• Show all workings for your calculations -remember for the majority of questions involving calculations, marks are awarded for method...
...even if you get the final answer wrong!
How to please the examiner
Answer the question asked:
CIMA Education 2010 Syllabus - FOCUSED ON THE FUTURE
• For the T4 part B exam you will be asked to produce professional looking business documents, based on pre-seen and unseen material
• The main question requirement is generally a business report, so make sure you have each of the core elements of a report format:
How to please the examiner
T4 part B case study
CIMA Education 2010 Syllabus - FOCUSED ON THE FUTURE
• Contents• Introduction• Prioritisation of issues• Discussion of issues• Ethical issues• Recommendations• Conclusions• Appendices
How to please the examiner
T4 part B: suggested report format:
CIMA Education 2010 Syllabus - FOCUSED ON THE FUTURE
• Pre-seen case study material (Jot toy case)• Articles by the case study writer and T4 experts Getting started with T4 Required skills and knowledge
• Calculations• Report formats
Exam techniqueAvailable from www.cimaglobal.com/t4resources
How to please the examiner
T4 part B: support articles
CIMA Education 2010 Syllabus - FOCUSED ON THE FUTURE
• Read the question• Understand the question• Plan your answer• Answer the question
How to please the examiner
Rules of the game: the magic formula to pass
CIMA Education 2010 Syllabus - FOCUSED ON THE FUTURE
• Mis-read the question• Brain dump on a key word or phrase• Ignore the verb• Answer only part of the question
How to please the examiner
Rules of the game: what NOT to do
CIMA Education 2010 Syllabus - FOCUSED ON THE FUTURE
• Answer only part of the question
How to please the examiner
Rules of the game: what NOT to do
50 marks out of 100 50% of available marks
50 marks out of 90 55% of available marks
50 marks out of 80 62% of available marks
50 marks out of 75 67% of available marks
CIMA Education 2010 Syllabus - FOCUSED ON THE FUTURE
You never lose marks, only collect them.
Keep the marker happy!
How to please the examiner
Rules of the game: keep the marker happy
CIMA Education 2010 Syllabus - FOCUSED ON THE FUTURE
• Write neatly and legibly• Make a clear choice – A, B, C or D• Concentrate on the answers, not re-writing the questions • Don’t mix up different parts of an answer• Space your work out• Use blue or black ink• Label your workings and plans• Cross out errors• Don’t write notes to the marker!
How to please the examiner
Rules of the game: keep the marker happy
CIMA Education 2010 Syllabus - FOCUSED ON THE FUTURE
How to please the examiner
Rules of the game: keep the marker happy
CIMA Education 2010 Syllabus - FOCUSED ON THE FUTURE
• Make full use of the 20 minutes reading time to start planning your answers
• Allow 1.8 minutes per mark:• 5 mark question – 9 minutes• 10 mark question – 18 minutes• 25 mark question – 45 minutes
How to please the examiner
Rules of the game: watch your time
CIMA Education 2010 Syllabus - FOCUSED ON THE FUTURE
• Read the post exam guide for the previous sitting• Sit at least two full mock exams under exam conditions• Practice answering questions to strict time• Learn your pro-formas• Make your own study aids:
• revision cards• mind maps• post-it notes
How to please the examiner
Rules of the game: be prepared
CIMA Education 2010 Syllabus - FOCUSED ON THE FUTURE
Identify ways in which information technology and information systems might improve XX’s operations. (10 marks)
Answer plan using a mind map
IDENTIFYIS IT
Internet access
Design of website
WAN
Finance software Comms
Strengthen
Development
StandardiseSimplify
Efficiency
CIMA Education 2010 Syllabus - FOCUSED ON THE FUTURE
• Understand the structure of the paper
• Learn from past exam papers
• Use the reading time effectively
• Read the question
• Plan your answer
• Answer the question asked
• Remember the rules of the game
How to please the examiner
CIMA Education 2010 Syllabus - FOCUSED ON THE FUTURE
How to please the examiner
CIMA Education 2010 Syllabus - FOCUSED ON THE FUTURE
How to please the examiner
CIMA Education 2010 Syllabus - FOCUSED ON THE FUTURE
Good luck with your next exams!
Any questions?