ACCA考官报告P4科目 2011-2014年下载

ACCA考官报告P4科目 2011-2014年下载

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Examiner’s report
P4 Advanced Financial Management
June 2014
Examiner report – P4 June 2014    1

General comments
In the June 2014 paper, similar to the previous exams in December and June 2013, there was one 50-mark
compulsory question in section A, which also contained four professional marks. This was followed by three 25-
mark questions in section B, out of which candidates had to choose two. The first two questions consisted of a
mixture of computational and discursive elements, and the final question was wholly discursive. This was in line
with the format of the exam advice, which said that on occasion a 25-mark question could be wholly written.
The overall performance of the candidates was similar with the overall trend of examinations, but not as good as
the December 2013 sitting. The main reason for candidates performing less well was the lack of detailed
knowledge of the syllabus areas that were being tested. On the whole it was not evident that the exam was timepressured. It was also evident that in the main candidates managed time adequately between the three
questions.

In the P4 examination candidates should focus on the eight factors in order to maximise their chances of gaining
a good pass.
1.  A sound knowledge and understanding of the entire P4 syllabus. Although P4 has a large syllabus,
evidence from previous exams, including June 2014, clearly highlights that candidates who are wellprepared, as a result of sustained study, over a long period of time, are more likely to be successful. Such a
strategy results in a deep understanding of the subject and also of the current issues in financial
management. On the other hand, last minute intensive study, attempting to spot questions or topics and
relying on hints is a strategy that is unlikely to yield success. The June 2014 paper required candidates to
have a thorough knowledge of a range of syllabus areas.
2.  Excellent answers were obtained from candidates who applied their knowledge and understanding to the
scenario given in each question. This follows from point 1 above; candidates need to know the syllabus
well in order to apply knowledge to the question scenario. Weaker answers tended to give more general
answers rather than answers specific to the scenario.  
3.  Good answers  provided a balanced answer for all parts of each question, whether the part required
discussion or calculations or both. Markers consistently commented that scripts which answered all the
questions reasonably, even with small errors, were more likely to pass compared to scripts which left parts
of questions or whole questions unanswered, even where the answers to other questions were good. Make
sure that you can answer all requirements of the question before selecting it.  
4.

Good time management is vitally important. The overall opinion of the marking team for the June 2014
paper was that the candidates continued to manage their time adequately. Given that question 1 is a long
50-mark question, good time-management skills are essential.
5.

Answer the question set (all of the question set and no more). This will help with time management. Good
answers and good scripts did this effectively. Areas where this was done less well are highlighted in the
comments for each question below. It is important that in questions, both  the requirements and the
narrative of the scenario are read carefully. Irrelevant answers, not related to the requirements (and the
scenario), will score few, if any, marks.  
6.

Legible, well presented and well structured answers  often get high marks (and these will also help you
manage your time better). The presentation of answers achieving high marks was good, with clear labelling
and structure and workings. It is  very important to plan and structure answers properly. Good, clear
handwriting is essential.  

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