F5 Performance Management

Performance Management develops knowledge and skills in the application of management accounting techniques to quantitative and qualitative techniques.

What will I study?

• Specialist Costing and Management Accounting Techniques -cost and management accounting terms such as activity-based costing, throughput and backflush accounting, target and lifecycle costing are all relevant to this syllabus area. This section will support your studies so that you can become completely familiar with explaining, applying and evaluating these techniques, and how they are tested in the exam.
• Decision-Making Techniques -you need to be able to select and apply the appropriate decision-making techniques to evaluate business choices and appreciate the risks and uncertainty inherent in business. You will need to be familiar with pricing decisions, linear programming and short-term decision making.
• Budgeting -understanding and applying a range of budgeting techniques is key to being successful on budgeting questions. You also need to be able to evaluate alternative methods of budgeting, planning and control. An understanding of types of quantitative budgeting techniques and the behavioural aspects of budgeting is also important.
• Standard Costing and Variances Analysis -you need to be able to use standard costing systems to measure and control business performance. Identifying and evaluating why performance hasn’t been met is key to being successful in variance analysis questions.
• Performance Measurement and Control -being successful in questions on performance measurement and control means that you have to be able to assess the performance of a business from both a financial and non-financial viewpoint with ease and appreciate the different factors involved in business.