ACCA P3 Exam Tips March 2016
P3 Exam Tips March 2016
Embed your knowledge on the core models from Johnson and Scholes(the examiner based this paper on their work).
When answering questions,write answers like you are writing to your senior management.Make it as professional as possible.Marks are allocated to this in section A.
Do not start writing answers straightaway.Take a minute to think about the structure and presentation of the answers.
It is important with this level to remember that writing lots of knowledge and theory will not get you through the exam.The key is application to the material and expanding the relevance to the scenario.
We suggest watching the news/reading the papers,but with a critical eye.For instance when you see that a business has launched a new product or moved into a new market think about the theories you have learnt that may be relevant.In this case it could be:
- Porter’s generic strategies
- Bowman’s clock
Then apply those theories to the real life situation–understand why they have created this product/why they have gone into this market.With practice you will find it easier to apply the theories to the scenario.
And of course you can do this for other areas of the syllabus.
There is nothing worse for a marker than getting a script which is just a page of writing.Try to think about making your script easier to read for the marker.Headings and Sub-headings along with a bit of space will help.Then use your paragraph to explain the point you are making.
If it is easy for the marker to see the points being made this can make the difference between pass and fail for a borderline script,include application,plus relevance within your statement,avoid listing.
If you use the word‘and’in your answer,are you making two separate points?If yes,maybe you need to split your paragraph into two headings/sub-headings.
There are 3 professional marks which will constitute professionalism,presentation and layout.
- Know the theory and apply it.
- Create mind maps of the key knowledge,then learn these.
- Do practice questions under timed conditions and if possible,get them marked.
- Make sure you’ve read all the current examiner articles,available on the ACCA website.
- Get good business awareness–read a quality newspaper.
- Use the reading time to select questions,and get frameworks for answer plans.
- Do a section B question first.
- Don’t focus on the numbers–do not spend more than 15 minutes on them per question.
- Watch the clock–allocate your time efficiently–don’t overrun.
- Layout your answers in a way that the marker can clearly read and understand.
- Read the question carefully!