Paper P1 – Management Accounting – Performance Evaluation Post Exam Guide November 2008 Exam General Comments The overall result on this paper was reasonable and, while performance was well below the level seen in May 2008, there was a small improvement on the previous November sitting. Marks gained in Section A were once again particularly good. This provided a firm foundation for many candidates to go on and achieve a pass on this paper. However, a number of candidates still do not attempt all of the multiple-choice questions. Some candidates were unable to build sufficiently upon their performance in Section A. This was frequently due to relatively weaker performance in both Section B and Section C where the focus was more on narrative answers, especially if candidates chose question 3 in Section C. This may have been a factor in the relative unpopularity of question 3. Candidates often demonstrated some difficulty in focusing on the specific requirements in those questions requiring narrative answers. There was little evidence of time pressures or poor time management. However, workings in answer to calculation questions were at times unnecessarily lengthy, detailed and/or repetitive. Adequate workings to calculation questions are always required (apart from the multiple-choice questions), for the benefit of markers and candidates alike Also time spent planning answe rs is t ime well spent if it reduces the overall time taken to answer the question. Lack of preparation once again seemed to be the primary reason for candidate failure. Candidates who failed this exam must try to prepare themselve s for future exams with a good knowledge of all topic areas. In the exam they must read questions carefully and then answer the specific question asked rather than write all they know on a broader topic. They must be prepared to apply their knowledge to particular practical scenarios. The Chartered Institute of Management Accountants Page 1
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