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Welcome to AdvancedUni.com, an online computer based learning (CBL) / exam (CBE) portal for ACCA & CAT professional examinations preparation support and business education. Some of the resources are available free on registration.
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Here is something that you might want to know in a hurry. I am sure everyone had at one time or another wondered if there were simple and concise road maps to success. Well... here is someone who has taken the trouble to condense YEARS of research in 8 WORDS and 3 MINUTES, the SECRETS OF SUCCESS!
The video is hosted on TED.com. If you don't already know, TED brings together people from the world of Technology, Engineering and Design to share their thoughts and ideas. Many of the talks are business related. The videos hosted here are highly educational and entertaining.
Laurence
PS. You can download the MP4 video here. |
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Article by :: Michael Mainwaring
Students get obsessed with exam tips especially at this time of the year. I am not too sure that it matters too much especially when tackling a “mature” paper where a pattern of questions has been established and the examiner has given clear indication of what he intends to examine. If it is an easy paper for you it is an easy paper for everyone and the marking will be strict; if it is a paper from hell then that is the same for everyone and the marking will be lenient.
For example:
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A - This ONE question is compulsory and MUST be attempted
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1.
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How many forces are there in porter’s 5 forces of competition model? This question includes 5 professional marks.
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(50 marks)
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Section
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B - TWO questions ONLY to be attempted
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2.
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From which city in North America does the Boston Consulting group come from?
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(25 marks)
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3.
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Which large American conglomerate developed the General Electric Window?
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(25 marks)
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Can you spell “Michael Porter”?
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(25 marks)
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End of Question Paper
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Have you passed? Not necessarily. Equally consider the following paper:
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A - This ONE question is compulsory and MUST be attempted
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1.
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What insights are generated by viewing strategic issues in terms of paradoxes and dilemmas as identified by De Wit and Meyer? This question includes 5 professional marks.
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(50 marks)
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B - TWO questions ONLY to be attempted
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To what extent can Kuhnian models of puzzle solving be applied to strategic puzzles?
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(25 marks)
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The Structure/Conduct/Performance paradigm is generally attributed to Michael Porter. However Porter has stated that “the firm is rarely the prisoner of its industry”. How do you reconcile these views?
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(25 marks)
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Explain how notions of “bounded rationality” and “wicked” problems can offer insights into strategic decision making processes.
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(25 marks)
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End of Question Paper
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Have you failed? Not necessarily. Present in a marker friendly way, use any figures, kick in some frameworks, use case information, and get the time management right and you may pass.
So let’s cut to the chase- what is coming up in June 2010? I wish i knew. The most likely areas are:
- A basic external analysis framework. In order of probability: PESTEL, SWOT, 5 Forces, Life cycle.
- Generic strategy matrix and associated value chain and system.
- Strategy implementation and strategic change: Balogun and Hailey, JSW’s contextual model, the cultural web.
- Corporate strategy, especially diversifying or de-diversifying.
- Organic, joint venture, outsourcing.
- Project management, software quality, bespoke versus packaged approaches.
- Six Sigma
- Business process redesign especially Harmon’s grid, CMM-I, swim lane analysis.
- e-Business especially SCM
- Just for fun, what about knowledge management (ACCA newsletter article.....)
No guarantees! Good luck.
Michael Mainwaring is a guest lecturer. He specialises in teaching ACCA Paper P3 Business Analysis and produces all his own study materials, including his not-to-be-missed 'Bluff Notes', which cover the syllabus in less than 100 pages. Michael favours a highly focused approach to the syllabus, and a highly structured approach to tackling case studies.
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Exam prep time! Here is something to help you prioritize your revision if you are under TIME PRESSURE. Do note that examiners are not necessarily predictable and the forecasted areas may not show up.
ACCA F2 :: Management Accounting (MA)Based on the pilot paper, the percentage breakdown by topic areas are as below. You could spend more time mastering the areas with the highest percentage of questions and follow through accordingly.
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%
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D
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Cost accounting techniques
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34.3
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F
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Short-term decision making techniques
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28.9
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E
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Budgeting and standard costing
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14.4
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B
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Cost classification, behavior and purpose
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11.1
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A
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The nature and purpose of cost and MA
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4.4
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ACCA F5 :: Performance Management (PM)The forecast I gave when I started my F5 classes was pretty much in line with Kaplan's and BPP's:
L Kuek
- ABC & AC
- Linear programming (+ shadow prices) or Decision criteria
- Behavioral aspect of budgeting
- Mix and yield variances
- ROI & RI or Transfer pricing
Kaplan
- ABC
- Mix and yield variances
- FPIs & NFPIs
- Transfer Pricing
BPP
- Advanced costing techniques
- ABC, Throughput Accounting & Target Costing have featured recently.
- Backflush accounting has not yet been examined.
- Be prepared to discuss techniques such as ABC compared to traditional costing techniques such as AC.
- Decision making techniques
- Relevant costing, linear programming and risk & uncertainty have been examined recently.
- Pricing is yet to be examined in much detail other than a brief discussion about discounting and a requirement to suggest two pricing strategies.
- Budgeting
- Learning curves have featured most regularly to date.
- Discussion marks may look at the appropriateness of budgeting types or the behavioural impacts of types of budgeting.
- Numerical elements in a budgeting question could include flexed budgets or time series analysis.
- Standard costing & variance analysis
- Mix & yield variances, planning & operating variances and operating statements have been examined.
- Be prepared to discuss performance and whether variances are an indicative measure of good / bad performance.
- Performance Measurement and Control
- Questions focusing on interpretation of performance and FPIs vs NFPIs have featured on all papers to date.
- Questions could focus on the public sector, divisional performance measures such as ROI / RI or a discussion of the impact on performance of various transfer prices.
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