Financial performance exam on Monday...any advice?

Alfiedodee

hi everyone I have my Financial performance exam on Monday and nerves are setting in! I passed budgeting but have failed FStatements...really need to pass this exam first time!

any advice? i have passed all onlines exams fine but hope i dont go blank in the exam on Monday!

my worry is that i sometime confuse the capcity and efficiency variances by getting them the wrong way round, any advice and how to remember these for the day? any other tips to help sail through the variance qs would be appreciated.:)

Clarekaye

Dont miss out the written bits! Read the question and try to relax I never do any studying the night before or the morning of cos I get really nervous everything is worth a shot!

Lucy_M

Hi, I have FNPF in 2 weeks and have spent ages working out ways to try to remember the variances... I have come up with something similar to the roce-op-asset turnover relationship, it might help...

EFFICIENCY CAPACITY
actual units 8000 Std s/b prod. 8600
Std s/b prod.8600 Budget units 10000
diff 600 a diff 1400 a
*OAR in units *OAR in units

VOLUME
Actual 8000 units
Budget10000 units
diff 2000 a
*OAR in units

(600 + 1400 = 2000)

This works in units but in hours the volume and capacity are the other way round (not sure why though I'm afraid) but it might help with efficiency as I picture this layout when working them out... hope the formatting stays or this will be gibberish!

Good luck for Monday :001_smile:

Lucy_M

Bugger the formatting....
Efficiency and capacity should be separate with 3 rows under them like volume... hope it makes enough sense?!

Alfiedodee

thank you!! ti just hope i dont go blank when it comes to the exam am hitting the green ligh test hoping it will help!

Alfiedodee

Got my results this week and I failed!! 4 exceededs were not enough back in for it in 3 weeks time I'm determined to pass this!!!