put to the test

Paper P3, Business Analysis, will be examined for the first time in December 2007. This short article provides some guidance for candidates preparing themselves for this paper. SECTION A This section comprises one question worth 50 marks. It is similar in structure and content to questions previously set for Paper 3.5, and so these can be used as a basis for revision. The question will refer to a scenario which includes both financial and non-financial data. Just as in Paper 3.5, candidates are encouraged to use this information, where appropriate, in their answers. The scenario concerns an industry that should be relatively familiar to most candidates; it will certainly be an industry that has received wide coverage in the business press. However, candidates must make sure that their answer is in the context of the scenario, and does not draw on general stereotypes of this industry which are inappropriate to the case study. Candidates are reminded that this question is firmly based on the capabilities defined in Sections A, B, and C of the Study Guide. SECTION B Section B comprises three questions, each worth 25 marks. All Section B questions are based on short scenarios. Candidates are required to answer two of these questions. The scenarios are longer than those used in Papers 3.5 and 3.4. Although this means that they will take longer to read, I believe that this length is necessary to provide the detail required for candidates to develop answers of sufficient length and depth to gain the 25 marks on offer. The questions in the Pilot Paper give a good indication of the length and structure of 40 student accountant September 2007 Section B questions and should be used as a basis for revision. In the Pilot Paper, the three questions in this section were taken from the middle or bottom tier of the relational model of the syllabus (Study Guide Sections D, E, F, G, H, and I). This is also true for the December 2007 exam. TIME MANAGEMENT One of the features of the ACCA Qualification is the introduction of 15-minutes reading and planning time for all three-hour exams. I believe that candidates should be clear as to how they will use this time before they enter the exam room. Although candidates can devise their own time management strategy, a suggested plan is given below for Paper P3. However, you do not have to follow this plan if it does not suit your reading and writing speed. You may wish to use the plan below when attempting the Pilot Paper under exam conditions, and then decide how if at all you wish to modify it to create your own time plan. 25 minutes (including 15-minutes reading time) planning for Section A 70 minutes answering the Section A question 10 minutes selecting which Section B questions to answer 10 minutes planning for each Section B question 35 minutes answering each Section B question. Steve Skidmore is examiner for Paper P3

technical

pass notes: business analysis

relevant to ACCA Qualification Paper P3