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APM ACCA Question and answers verified to pass 2024/2025 $13.49   Add to cart
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APM ACCA Question and answers verified to pass 2024/2025
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APM ACCA Question and answers verified to pass 2024/2025 APM ACCA Benchmarking types and process 7 stages; Objectives KPIs Selection Measurement Comparison Improvement Monitoring 3 types; Internal; easy to access data May not be as useful if divs are already in communication ...

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  • October 3, 2024
  • 44
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • apm acca
  • apm acca question and answers verified to pass 202

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  • APM
  • APM

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APM ACCA
Benchmarking types and process
7 stages;


Objectives
KPIs
Selection
Measurement
Comparison
Improvement
Monitoring


3 types;


Internal;
easy to access data
May not be as useful if divs are already in communication


External/competitive;
More useful
Harder to access data


Functional;
Can help guide best processes
Difficulty in obtaining data

,Relevance of data




Strategic Management accounting vs. traditional
Management accounting where the emphasis is on external factors to the
organization, non-financial information, and internally generated info.


Involves more than simply measurement, it helps an organisation to achieve
its objectives by helping to take effective control and improve business
processes


Traditional; internal financial focus




Porter's Five Forces
Model developed by strategy expert Michael Porter that identifies five
competitive forces that influence planning strategies.


Forces;
New entrants, buyers, suppliers, substitutes = competitive rivalry


Issues;
assumes static market conditions
external focus
I.D of industry

,BCG Matrix
analyzes business opportunities according to market growth rate and market
share


Relative market share
High Low
star ????
Market growth


Low cash cow Dog


issues;
I.D of industry
too simplistic
doesn't consider relationship between divs




Mission statements
describes the organizations overriding purpose, strategy, policies and values
in line with shareholders expectations


Should be brief, distinctive, flexible and provide clarity


Advantages;
Focuses performance measures & goal congruence
communicates the desired nature of the organization

, Disadvantages;
Full of generalisations
May not be a true representation of the company
Useless unless if it lacks detailed objectives




Budgeting stages
Planning - how to hit targets
Responsibility - allocates responsibility
Integration - ensures activities aren't in conflict
Motivation - motivates employees
Evaluation - of performance




Budget types
1. Zero Based Budget
2. Incremental Budget
3. Rolling Budgeting
4. Activity Based Budget
5.Flexible




incremental budgeting
Form of budgeting in which the prior budget is the basis for allocation of funds
with incremental changes made in response to trends/analysis.

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