Being able to do well in the ACCA P3 exam does not only mean learning core syllabus topics but being able to apply this knowledge to the scenario within the question.
Students are expected to use specific details on the case within the question and comment using the relevant theory/knowledge to back up their points.
This is what ACCA P3 examiners had to say about recent candidates’ performance in this area:
"In most questions, only a few marks can be given for theoretical answers. The bulk of the allocated marks are for the interpretation of the information provided in the scenario in the context of some theoretical framework." - ACCA P3 Examiner's Report - December 2015
"Candidates should also recognise that such questions require the application of knowledge, not the regurgitation of knowledge. Reducing the number of swim lanes (actors) involved in the process is indeed a legitimate approach to process redesign. However, this has to be presented within the context of the scenario; for example; ‘removing the administrators from the process reduces the number of actors involved in the process and this will lead to the following benefits…’ " - ACCA P3 Examiner's Report - December 2015
"Four professional marks were available for answers that were clear, had an appropriate tone and vocabulary and adopted a professional approach." - ACCA P3 Examiner's Report - December 2015
"Part (b) of the question required knowledge of a customer relationship management system (CRM). Whilst many candidates were able to answer this question theoretically, a number of candidates failed to obtain the marks available for application to the scenario provided. Candidates need to ensure that they understand the meaning of ‘extension’ in a CRM context." - ACCA P3 Examiner's Report - September 2015
Remember, it is absolutely vital that you demonstrate to the examiner that you have linked the scenario into your answer. Don't simply write down everything you know about the subject. It is far more important to refer only to the relevant theory and state specifically how it relates to the scenario.
The best way to get into the habit of doing this correctly is through practise. You should aim to complete at least 3 full past exam papers under examination conditions before your final exam in order to ensure you make these links effectively.
Don’t forget, the examiners also expect candidates to have a wider knowledge and understanding of the business and accounting world. Accounting is a profession that requires more than just book learning – business acumen is needed too.
This is just one of the points addressed in our ACCA P3 Examiners' Guide. See what others issues had been identified by going to - ACCA P3 Examiners' Guides
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