Financial Performance

crazytimes

I really am struggling with Financial Performance, it just isn't 'clicking'. I have my exam in less than 2 weeks - any tips or advice?

pirate

Think this is like Unit 8 on the old standards
You could try the elearning on AAT web site for the ratio analysis https://www.aat.org.uk/myaat/unit/elearning/item13747/
this goes through a case study and explains what each of the financial ratios mean.
I did this before my MAC (which is both Financial Performance and Budgeting) exam in December and it starts from a really basic level and builds up so I found it really useful.
Also I had a look at the old papers, which although you are under the new standards, the subject matter is very similar from looking at the new books, so you could look at how they answer the questions and have a go at practicing them.
The old papers go though standard cost cards, variance analysis, operating statements, and the performance indicators and "what if" so it should give you some good practice.
Also it helps if you think about the overall thing you are trying to do with this exam, ie that of how the company has performed against what we expected and what might it indicate ie what the variance between what we expect and what we got and what would happen if .... we produced more, labour was scarce, materials cost more etc

HTH