how to: business case
relevant to acca qualification paper p3
For many ACCA students there is no phrase which causes greater fear than ‘Using an appropriate model or models of your choice…’. Immediately a number of problems arise: ¤ Which might be appropriate? ¤ How many? ¤ Choice – I might not choose correctly – I’d much rather be told what to use. ¤ If I choose incorrectly I’ve ruined my chances. This article will look at some of these problems and will use as a subject to work on Question 1 from the June 2008 Paper P3 exam, AutoFone. This is reproduced here, with annotations. This is a typical Paper P3 Part (a) question with about three pages of information, including financial data, then three requirements. What the examiner said After each exam session, the examiner issues a report, available on the ACCA website. It’s worth reproducing extracts here of what the examiner said about candidates’ performance in this question: ¤ ‘… the use of case study scenarios. Many candidates had a problem applying the theoretical knowledge they had learned to the context of the scenario. At this level, there are relatively few marks available for describing a model such as Porter’s five competitive forces. The vast majority of the marks are for recognising the presence and effect of these forces in the context of the case study scenario.’ ¤ ‘It is important that the 15 minutes of reading time at the start of the exam is used effectively. One of the ways of making it more effective is to read the questions (ie the requirements of the case study) before reading the case study! This allows the candidate to put the case study into the context of the questions.’ ¤ ‘…there is no irrelevant information in the case study scenarios. Candidates must concentrate on linking the scenario information to questions and (where applicable) to appropriate models.’ ¤ ‘As expected, most candidates chose to use Porter’s five competitive forces as a framework for.