? ACCA 2014 All rights reserved.
　　1
　　Advanced Performance
　　Management （P5）
　　December 2014 & June
　　2015
　　This syllabus and study guide is designed to help
　　with planning study and to provide detailed
　　information on what could be assessed in
　　any examination session.
　　THE STRUCTURE OF THE SYLLABUS AND
　　STUDY GUIDE
　　Relational diagram of paper with other papers
　　This diagram shows direct and indirect links
　　between this paper and other papers preceding or
　　following it. Some papers are directly underpinned
　　by other papers such as Advanced Performance
　　Management by Performance Management. These
　　links are shown as solid line arrows. Other papers
　　only have indirect relationships with each other
　　such as links existing between the accounting and
　　auditing papers. The links between these are shown
　　as dotted line arrows. This diagram indicates where
　　you are expected to have underpinning knowledge
　　and where it would be useful to review previous
　　learning before undertaking study.
　　Overall aim of the syllabus
　　This explains briefly the overall objective of the
　　paper and indicates in the broadest sense the
　　capabilities to be developed within the paper.
　　Main capabilities
　　This paper’s aim is broken down into several main
　　capabilities which divide the syllabus and study
　　guide into discrete sections.
　　Relational diagram of the main capabilities
　　This diagram illustrates the flows and links between
　　the main capabilities （sections） of the syllabus and
　　should be used as an aid to planning teaching and
　　learning in a structured way.
　　Syllabus rationale
　　This is a narrative explaining how the syllabus is
　　structured and how the main capabilities are linked.
　　The rationale also explains in further detail what the
　　examination intends to assess and why.
　　Detailed syllabus
　　This shows the breakdown of the main capabilities
　?。╯ections） of the syllabus into subject areas. This is
　　the blueprint for the detailed study guide.
　　Approach to examining the syllabus
　　This section briefly explains the structure of the
　　examination and how it is assessed.
　　Study Guide
　　This is the main document that students, learning
　　and content providers should use as the basis of
　　their studies, instruction and materials.
　　Examinations will be based on the detail of the
　　study guide which comprehensively identifies what
　　could be assessed in any examination session.
　　The study guide is a precise reflection and
　　breakdown of the syllabus. It is divided into sections
　　based on the main capabilities identified in the
　　syllabus. These sections are divided into subject
　　areas which relate to the sub-capabilities included
　　in the detailed syllabus. Subject areas are broken
　　down into sub-headings which describe the detailed
　　outcomes that could be assessed in examinations.
　　These outcomes are described using verbs
　　indicating what exams may require students to
　　demonstrate, and the broad intellectual level at
　　which these may need to be demonstrated
　　（*see intellectual levels below）。
　　INTELLECTUAL LEVELS
　　The syllabus is designed to progressively broaden
　　and deepen the knowledge, skills and professional
　　values demonstrated by the student on their way
　　through the qualification.
　　The specific capabilities within the detailed
　　syllabuses and study guides are assessed at one of
　　three intellectual or cognitive levels:
　　LevelⅠ: Knowledge and comprehension
　　? ACCA 2014 All rights reserved.
　　2
　　LevelⅡ: Application and analysis
　　LevelⅢ: Synthesis and *uation
　　Very broadly, these intellectual levels relate to the
　　three cognitive levels at which the Knowledge
　　module, the Skills module and the Professional level
　　are assessed.
　　Each subject area in the detailed study guide
　　included in this document is given a 1, 2, or
　　3 superscript, denoting intellectual level, marked at
　　the end of each relevant line. This gives an
　　indication of the intellectual depth at which an area
　　could be assessed within the examination. However,
　　while level 1 broadly equates with the Knowledge
　　module, level 2 equates to the Skills module and
　　level 3 to the Professional level, some lower level
　　skills can continue to be assessed as the student
　　progresses through each module and level. This
　　reflects that at each stage of study there will be a
　　requirement to broaden, as well as deepen
　　capabilities. It is also possible that occasionally
　　some higher level capabilities may be assessed at
　　lower levels.
　　LEARNING HOURS AND EDUCATION
　　RECOGNITION
　　The ACCA qualification does not prescribe or
　　recommend any particular number of learning hours
　　for examinations because study and learning
　　patterns and styles vary greatly between people and
　　organisations. This also recognises the wide
　　diversity of personal, professional and educational
　　circumstances in which ACCA students find
　　themselves.
　　As a member of the International Federation of
　　Accountants, ACCA seeks to enhance the education
　　recognition of its qualification on both national and
　　international education frameworks, and with
　　educational authorities and partners globally. In
　　doing so, ACCA aims to ensure that its qualifications
　　are recognized and valued by governments,
　　regulatory authorities and employers across all
　　sectors. To this end, ACCA qualifications are
　　currently recognized on the education frameworks in
　　several countries. Please refer to your national
　　education framework regulator for further
　　information.
　　Each syllabus contains between 23 and 35 main
　　subject area headings depending on the nature of
　　the subject and how these areas have been broken
　　down.
　　GUIDE TO EXAM STRUCTURE
　　The structure of examinations varies within and
　　between modules and levels.
　　The Fundamentals level examinations contain
　　100% compulsory questions to encourage
　　candidates to study across the breadth of each
　　syllabus.
　　The Knowledge module is assessed by equivalent
　　two-hour paper based and computer based
　　examinations.
　　The Skills module examinations F5-F9 are all paper
　　based three-hour papers containing a mix of
　　objective and longer type questions. The Corporate
　　and Business Law （F4） paper is a two- hour
　　computer based objective test examination which is
　　also available as a paper based version from the
　　December 2014 examination session.
　　The Professional level papers are all three-hour
　　paper based examinations, all containing two
　　sections. Section A is compulsory, but there will be
　　some choice offered in Section B.
　　For all three hour examination papers, ACCA has
　　introduced 15 minutes reading and planning time.
　　This additional time is allowed at the beginning of
　　each three-hour examination to allow candidates to
　　read the questions and to begin planning their
　　answers before they start writing in their answer
　　books. This time should be used to ensure that all
　　the information and exam requirements are properly
　　read and understood.
　　During reading and planning time candidates may
　　only annotate their question paper. They may not
　　write anything in their answer booklets until told to
　　do so by the invigilator.
　　The Essentials module papers all have a Section A
　　containing a major case study question with all
　　requirements totalling 50 marks relating to this
　　case. Section B gives students a choice of two from
　　three 25 mark questions.
　　? ACCA 2014 All rights reserved.
　　3
　　Section A of both the P4 and P5 Options papers
　　contain one 50 mark compulsory question, and
　　Section B will offer a choice of two from three
　　questions each worth 25 marks each.
　　Section A of each of the P6 and P7 Options papers
　　contains 60 compulsory marks from two questions;
　　question 1 attracting 35 marks, and question 2
　　attracting 25 marks. Section B of both these
　　Options papers will offer a choice of two from three
　　questions, with each question attracting 20 marks.
　　All Professional level exams contain four
　　professional marks.
　　The pass mark for all ACCA Qualification
　　examination papers is 50%.
　　GUIDE TO EXAMINATION ASSESSMENT
　　ACCA reserves the right to examine anything
　　contained within the study guide at any examination
　　session. This includes knowledge, techniques,
　　principles, theories, and concepts as specified.
　　For the financial accounting, audit and assurance,
　　law and tax papers except where indicated
　　otherwise, ACCA will publish examinable
　　documents once a year to indicate exactly
　　what regulations and legislation could potentially be
　　assessed within identified examination sessions
　　For paper based examinations regulation issued or
　　legislation passed on or before 31st August annually,
　　will be examinable from 1st September of the
　　following year to 31st August t of the year after that.
　　Please refer to the examinable documents for the
　　paper （where relevant） for further information.
　　Regulation issued or legislation passed in
　　accordance with the above dates may be
　　examinable even if the effective date is in the future.
　　The term issued or passed relates to when
　　regulation or legislation has been formally approved.
　　The term effective relates to when regulation or
　　legislation must be applied to an entity transactions
　　and business practices.
　　The study guide offers more detailed guidance on
　　the depth and level at which the examinable
　　documents will be examined. The study guide
　　should therefore be read in conjunction with the
　　examinable documents list.
　　? ACCA 2014 All rights reserved.
　　4
　　Syllabus
　　AIM
　　To apply relevant knowledge, skills and exercise
　　professional judgement in selecting and applying
　　strategic management accounting techniques in
　　different business contexts and to contribute to the
　　*uation of the performance of an organisation
　　and its strategic development.
　　MAIN CAPABILITIES
　　On successful completion of this paper, candidates
　　should be able to:
　　On successful completion of this paper, candidates
　　should be able to:
　　A Use strategic planning and control models
　　to plan and monitor organisational performance
　　B Assess and identify relevant macro economic,
　　fiscal and market factors and key external
　　influences on organisational performance
　　C Identify and *uate the design features of
　　effective performance management information
　　and monitoring systems
　　D Apply appropriate strategic performance
　　measurement techniques in *uating and
　　improving organisational performance
　　E Advise clients and senior management on
　　strategic business performance *uation and
　　on recognising vulnerability to corporate failure
　　F Identify and assess the impact of current
　　developments in management accounting and
　　performance management on measuring,
　　*uating and improving organisational
　　performance
　　RELATIONAL DIAGRAM OF MAIN CAPABILITIES
　　PM （F5）
　　APM （P5）
　　MA （F2）
　　BA （P3）
　　Strategic planning and control （A）
　　Performance
　　measurement
　　systems and design （C）
　　Strategic performance
　　measurement
　?。―）
　　Performance *uation and corporate failure
　?。‥）
　　Current developments and emerging issues in management accounting and
　　performance management
　?。‵）
　　Economic, fiscal, market and environmental factors （B）
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　　RATIONALE
　　The Advanced Performance Management syllabus
　　further develops key aspects introduced in Paper
　　F5, Performance Management, at the skills level
　　and draws on aspects of the material covered from a
　　more strategic and operational planning perspective
　　in Paper P3, Business Analysis.
　　The syllabus introduces candidates to the strategic
　　role of management accounting as a discipline for
　　planning and controlling performance so that
　　strategic objectives can be set, monitored and
　　controlled. It also covers the impact of external
　　factors on strategic management issues, such as
　　macro economic, fiscal, market and environmental
　　impacts on performance. From appreciating the
　　strategic context of performance management and
　　the impact of wider factors, the syllabus examines,
　　at an operational level, the issues relating to
　　performance measurement systems and their
　　design.
　　The syllabus then moves from performance
　　management systems and their design to the scope
　　and application of high-level performance
　　measurement techniques in a variety of contexts,
　　including not-for-profit organisations and multinational
　　businesses. Having covered the strategic
　　aspects of performance management and
　　operational systems for the measurement and
　　control of performance in a variety of contexts,
　　candidates are then expected to synthesise this
　　knowledge in the role of an advisor to senior
　　management or independent clients on how to
　　assess and control the performance of an entity,
　　including the recognition of whether a business is
　　facing difficulties or possibly failure.
　　Finally, the syllabus deals with current
　　developments in performance management and
　　with emerging issues as they might affect or
　　influence the management of performance within
　　organisations.
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　　6
　　DETAILED SYLLABUS
　　A. Strategic planning and control
　　1. Introduction to strategic management
　　accounting
　　2. Performance management and control of the
　　organisation
　　3. Changes in business structure and
　　management accounting
　　4. Effect of Information Technology （IT） on
　　strategic management accounting
　　5. Other environmental and ethical issues
　　B. External influences on organisational
　　performance
　　1. Changing business environment
　　2. Impact of external factors on strategy and
　　performance
　　C. Performance measurement systems and design
　　1. Performance management information systems
　　2. Sources of management information
　　3. Recording and processing methods
　　4. Management reports
　　D. Strategic performance measurement
　　1. Performance hierarchy
　　2. Strategic performance measures in private
　　sector
　　3. Divisional performance and transfer pricing
　　issues
　　4. Strategic performance measures in not-forprofit
　　organisations
　　5. Non- financial performance indictors
　　6. The role of quality in management information
　　and performance measurement systems
　　7. Performance measurement and strategic
　　human resource management issues
　　8. Performance measurement and the reward
　　systems
　　9. Other *al aspects of performance
　　measurement
　　E. Performance *uation and corporate failure
　　1. Alternative views of performance measurement
　　and management
　　2. Strategic performance issues in complex
　　business structures
　　3. Predicting and preventing corporate failure
　　F. Current developments and emerging issues
　　performance management
　　1. Current developments in management
　　accounting techniques
　　2. Current issues and trends in performance
　　management
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　　7
　　APPROACH TO EXAMINING THE SYLLABUS
　　Paper P5 builds on paper F5, Performance
　　Management, and candidates are expected to have a
　　thorough understanding of the paper F5 syllabus. In
　　addition, candidates will also be required to apply
　　the principles and techniques covered in paper F2,
　　Management Accounting.
　　Paper P5 has a link with Paper P3, Business
　　Analysis, in the areas of strategic planning and
　　control and performance measurement
　　EXAMINATION STRUCTURE
　　The examination will be a three hour paper in two
　　sections:
　　Section A
　　Section A will contain one compulsory question
　　comprising of 50 marks
　　Section B
　　In section B candidates will be asked to answer two
　　from three questions comprising of 25 marks each
　　Total 100 marks
　　? ACCA 2014 All rights reserved.
　　8
　　Study Guide
　　A STRATEGIC PLANNING AND CONTROL
　　1. Introduction to strategic management
　　accounting
　　a） Explain the role of strategic performance
　　management in strategic planning and control.
　　[2]
　　b） Discuss the role of corporate planning in
　　clarifying corporate objectives, making strategic
　　decisions and checking progress towards the
　　objectives. [2]
　　c） Compare planning and control between the
　　strategic and operational levels within a
　　business entity. [2]
　　d） Assess the use of strategic management
　　accounting in the context of multinational
　　companies. [3]
　　e） Discuss the scope for potential conflict
　　between strategic business plans and shortterm
　　localised decisions. [2]
　　f） Evaluate how SWOT analysis may assist in the
　　performance management process. [2]
　　g） Evaluate the methods of benchmarking
　　performance. [3]
　　2. Performance management and control of the
　　organisation
　　a） Evaluate the strengths and weaknesses of
　　alternative budgeting models and compare
　　such techniques as fixed and flexible, rolling,
　　activity based, zero based and incremental. [3]
　　b） Assess how budgeting may differ in not-forprofit
　　organisations from profit-seeking
　　organisations. [3]
　　c） Evaluate the impact to an organisation of a
　　move beyond budgeting [3]
　　3. Changes in business structure and
　　management accounting
　　a） Identify and discuss the particular information
　　needs of organisations adopting a functional,
　　divisional or network form and the implications
　　for performance management. [2]
　　b） Assess the influence of Business Process Reengineering
　　on systems development and
　　improvements in organisational performance. [3]
　　c） Discuss the concept of business integration and
　　the linkage between people, operations,
　　strategy and technology. [2]
　　d） Analyse the role that performance management
　　systems play in business integration using
　　models such as the value chain and
　　McKinsey’s 7S’s [3]
　　e） Identify and discuss the required changes in
　　management accounting systems as a
　　consequence of empowering staff to manage
　　sectors of a business. [3]
　　4. Effect of Information Technology （IT） on
　　strategic management accounting
　　a） Assess the changing accounting needs of
　　modern service orientated businesses
　　compared with the needs of traditional
　　manufacturing industry. [3]
　　b） Discuss how IT systems provide the
　　opportunity for instant access to management
　　accounting data throughout the organisation
　　and their potential impact on business
　　performance. [2]
　　c） Assess how IT systems facilitate the remote
　　input of management accounting data in an
　　acceptable format by non-finance specialists. [2]
　　d） Explain how information systems provide
　　instant access to previously unavailable data
　　that can be used for benchmarking and control
　　purposes and help improve business
　　performance （for example, through the use of
　　enterprise resource planning systems and data
　　warehouses）。 [2]
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　　9
　　e） Assess the need for businesses to continually
　　refine and develop their management
　　accounting and information systems if they are
　　to maintain or improve their performance in an
　　increasingly competitive and global market. [3]
　　5. Other environmental and ethical issues
　　a） Discuss the ways in which stakeholder groups
　　operate and how they effect an organisation
　　and its strategy formulation and
　　implementation （e.g. using Mendelow’s
　　matrix）。 [2]
　　b） Discuss the ethical issues that may impact on
　　strategy formulation and business
　　performance. [3]
　　c） Discuss the ways in which stakeholder groups
　　may influence business performance. [2]
　　B EXTERNAL INFLUENCES ON
　　ORGANISATIONAL PERFORMANCE
　　1. Changing business environment
　　a） Assess the continuing effectiveness of
　　traditional management accounting techniques
　　within a rapidly changing business
　　environment. [3]
　　b） Assess the impact of the different risk appetites
　　of stakeholders on performance management [3]
　　c） Evaluate how risk and uncertainty play an
　　important role in long term strategic planning
　　and decision-making that relies upon forecasts
　　of exogenous variables.[3]
　　d） Apply different risk analysis techniques in
　　assessing business performance such as
　　maximin, maximax, minimax regret and
　　expected values.[3]
　　2. Impact of external factors on strategy and
　　performance
　　a） Discuss the need to consider the environment
　　in which an organisation is operating when
　　assessing its performance using models such
　　as PEST and Porter’s 5 forces, including
　　areas: [2]
　　i） Political climate
　　ii） Market conditions
　　iii） Funding
　　b） Assess the impact of governmental regulations
　　and policies on performance measurement
　　techniques used and the performance levels
　　achieved （for example, in the case of utility
　　services and former state monopolies）。 [3]
　　C PERFORMANCE MEASUREMENT SYSTEMS
　　AND DESIGN
　　1. Performance management information systems
　　a） Discuss, with reference to performance
　　management, ways in which the information
　　requirements of a management structure are
　　affected by the features of the structure. [2]
　　b） Evaluate the compatibility of the objectives of
　　management accounting and management
　　accounting information. [3]
　　c） Discuss the integration of management
　　accounting information within an overall
　　information system, for example the use of
　　enterprise resource planning systems. [2]
　　d） Evaluate whether the management information
　　systems are lean and value of the information
　　that they provide. [3]
　　e） Highlight the ways in which contingent
　?。╥nternal and external） factors influence
　　management accounting and its design and
　　use. [3]
　　f） Evaluate how anticipated human * will
　　influence the design of a management
　　accounting system. [3]
　　g） Assess the impact of responsibility accounting
　　on information requirements. [3]
　　2. Sources of management information
　　a） Discuss the principal internal and external
　　sources of management accounting
　　information, their costs and limitations. [2]
　　b） Demonstrate how the information might be
　　used in planning and controlling activities e.g.
　　benchmarking against similar activities. [2]
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　　c） Discuss those factors that need to be
　　considered when determining the capacity and
　　development potential of a system. [2]
　　3. Recording and processing methods
　　a） Demonstrate how the type of business entity
　　will influence the recording and processing
　　methods. [2]
　　b） Discuss how IT developments e.g. unified
　　corporate databases, RFIDs and network
　　technology may influence management
　　accounting systems. [2]
　　c） Discuss the difficulties associated with
　　recording and processing data of a qualitative
　　nature. [2]
　　4. Management reports
　　a） Evaluate the output reports of an information
　　system in the light of [3]
　　i） best practice in presentation;
　　ii） the objectives of the report/organisation;
　　iii_ the needs of the readers of the report; and
　　iv） avoiding the problem of information
　　overload
　　D STRATEGIC PERFORMANCE MEASUREMENT
　　1. Performance hierarchy
　　a） Discuss how the purpose, structure and
　　content of a mission statement impacts on
　　business performance. [2]
　　b） Discuss the ways in which high-level corporate
　　performance objectives are developed. [2]
　　c） Identify strategic objectives and discuss how
　　they may be incorporated into the business
　　plan. [2]
　　d） Discuss how strategic objectives are cascaded
　　down the organisation via the formulation of
　　subsidiary performance objectives. [2]
　　e） Discuss social and ethical obligations that
　　should be considered in the pursuit of
　　corporate performance objectives. [2]
　　f） Explain the performance ‘planning gap’ and
　　*uate alternative strategies to fill that gap.[3]
　　g） Apply critical success factor analysis in
　　developing performance metrics from business
　　objectives. [3]
　　h） Identify and discuss the characteristics of
　　operational performance. [2]
　　i） Discuss the relative significance of planning as
　　against controlling activities at different levels
　　in the performance hierarchy. [3]
　　2. Strategic performance measures in private
　　sector
　　a） Demonstrate why the primary objective of
　　financial performance should be primarily
　　concerned with the benefits to shareholders. [2]
　　b） Justify the crucial objectives of survival and
　　business growth.
　　c） Discuss the appropriateness of, and apply
　　different measures of performance,
　　including: [3]
　　i） Return on Capital Employed （ROCE）
　　ii） Return on Investment （ROI）
　　iii） Earnings Per Share （EPS）
　　iv） Earnings Before Interest, Tax,
　　Depreciation and Amortisation （EBITDA）
　　v） Residual Income （RI）
　　vi） Net Present value （NPV）
　　vii） Internal rate of return and modified
　　internal Rate of Return （IRR, MIRR）
　　viii） Economic Value Added （EVA TM）
　　d） Discuss why indicators of liquidity and gearing
　　need to considered in conjunction with
　　profitability. [3]
　　e） Compare and contrast short and long run
　　financial performance and the resulting
　　management issues. [3]
　　f） Explore the traditional relationship between
　　profits and share value with the long-term
　　profit expectations of the stock market and
　　recent financial performance of new technology
　　companies. [3]
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　　11
　　g） Assess the relative financial performance of the
　　organisation compared to appropriate
　　benchmarks. [3]
　　3. Divisional performance and transfer pricing
　　issues
　　a） Describe, compute and *uate performance
　　measures relevant in a divisionalised
　　organisation structure including ROI, RI and
　　Economic value added （EVA）。 [3]
　　b） Discuss the need for separate measures in
　　respect of managerial and divisional
　　performance. [2]
　　c） Discuss the circumstances in which a transfer
　　pricing policy may be needed and discuss the
　　necessary criteria for its design. [2]
　　d） Demonstrate and *uate the use of
　　alternative bases for transfer pricing. [3]
　　e） Explain and demonstrate issues that require
　　consideration when setting transfer prices in
　　multinational companies. [2]
　　4. Strategic performance measures in not-forprofit
　　organisations
　　a） Highlight and discuss the potential for diversity
　　in objectives depending on organisation type. [3]
　　b） Discuss the need to achieve objectives with
　　limited funds that may not be controllable. [2]
　　c） Identify and discuss ways in which
　　performance may be judged in not-for profit
　　organisations. [2]
　　d） Discuss the difficulties in measuring outputs
　　when performance is not judged in terms of
　　money or an easily quantifiable objective. [2]
　　e） Discuss how the combination of politics and
　　the desire to measure public sector
　　performance may result in undesirable service
　　outcomes. [3]
　　f） Assess ‘value for money’ service provision as a
　　measure of performance in not-for-profit
　　organisations and the public sector. [3]
　　5. Non-financial performance indicators
　　a） Discuss the interaction of non-financial
　　performance indicators with financial
　　performance indicators. [2]
　　b） Discuss the implications of the growing
　　emphasis on non-financial performance
　　indicators. [3]
　　c） Discuss the significance of non-financial
　　performance indicators in relation to
　　employees. [2]
　　d） Identify and discuss the significance of nonfinancial
　　performance indicators in relation to
　　product/service quality e.g. customer
　　satisfaction reports, repeat business ratings,
　　customer loyalty, access and availability. [3]
　　e） Discuss the difficulties in interpreting data on
　　qualitative issues. [2]
　　f） Discuss the significance of brand awareness
　　and company profile and their potential impact
　　on business performance. [3]
　　6. The role of quality in management information
　　and performance measurement systems
　　a） Discuss and *uate the application of
　　Japanese business practices and management
　　accounting techniques, including: [3]
　　i） Kaizen costing,
　　ii） Target costing,
　　iii） Just-in-time, and
　　iv） Total Quality Management.
　　b） Discriminate between quality, quality
　　assurance, quality control and quality
　　management.[2]
　　c） Assess the relationship of quality management
　　to the performance management strategy of an
　　organisation. [3]
　　d） Advise on the structure and benefits of quality
　　management systems and quality
　　certification. [3]
　　e） Justify the need and assess the characteristics
　　of quality in management information
　　systems[3]
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　　12
　　f） Discuss and apply Six Sigma as a quality
　　improvement method using tools such as
　　DMAIC for implementation. [2]
　　7. Performance measurement and strategic
　　Human Resource Management issues
　　a） Explain how the effective recruitment,
　　management and motivation of people are
　　necessary for enabling strategic and operational
　　success. [3]
　　b） Discuss the judgemental and developmental
　　roles of assessment and appraisal and their
　　role in improving business performance. [3]
　　c） Advise on the relationship of performance
　　management to performance measurement
　?。╬erformance rating） and determine the
　　implications of performance measurement to
　　quality initiatives and process redesign. [3]
　　8. Performance measurement and the reward
　　systems
　　a） Explore the meaning and scope of reward
　　systems. [2]
　　b） Discuss and *uate different methods of
　　reward practices. [2]
　　c） Explore the principles and difficulty of aligning
　　reward practices with strategy. [2]
　　d） Advise on the relationship of reward
　　management to quality initiatives, process redesign
　　and harnessing of e-business
　　opportunities. [3]
　　e） Assess the potential beneficial and adverse
　　consequences of linking reward schemes to
　　performance measurement, for example, how it
　　can affect the risk appetite of employees. [3]
　　9 Other * aspects of performance
　　measurement
　　a） Discuss the accountability issues that might
　　arise from performance measurement
　　systems. [3]
　　b） Evaluate the ways in which performance
　　measurements systems may send the wrong
　　signals and result in undesirable business
　　consequences. [3]
　　c） Demonstrate how management style needs to
　　be considered when designing an effective
　　performance measurement system. [3]
　　E PERFORMANCE EVALUATION AND
　　CORPORATE FAILURE
　　1. Alternative views of performance measurement
　　and management
　　a） Evaluate the ‘balanced scorecard’ approach as
　　a way in which to improve the range and
　　linkage between performance measures. [3]
　　b） Evaluate the ‘performance pyramid’ as a way in
　　which to link strategy, operations and
　　performance. [3]
　　c） Evaluate the work of Fitzgerald and Moon that
　　considers performance measurement in
　　business services using building blocks for
　　dimensions, standards and rewards. [3]
　　d） Discuss and apply the Performance Prism. [2]
　　e） Discuss and *uate the application of
　　activity-based management. [3]
　　f） Evaluate and apply the value-based
　　management approaches to performance
　　management. [3]
　　2. Strategic performance issues in complex
　　business structures
　　a） Evaluate the use and the application of
　　strategic models in assessing the business
　　performance of an entity, such as Ansoff,
　　Boston Consulting Group and Porter. [3]
　　b） Discuss the problems encountered in planning,
　　controlling and measuring performance levels,
　　e.g. productivity, profitability, quality and
　　service levels, in complex business
　　structures. [3]
　　c） Discuss the impact on performance
　　management of the use of business models
　　involving strategic alliances, joint ventures and
　　complex supply chain structures. [3]
　　? ACCA 2014 All rights reserved.
　　13
　　3. Predicting and preventing corporate failure
　　a） Assess the potential likelihood of corporate
　　failure, utilising quantitative and qualitative
　　performance measures and models （such as Zscores
　　and Argenti）。 [3]
　　b） Assess and critique quantitative and qualitative
　　corporate failure prediction models. [3]
　　c） Identify and discuss performance improvement
　　strategies that may be adopted in order to
　　prevent corporate failure. [3]
　　d） Discuss how long-term survival necessitates
　　consideration of life-cycle issues. [3]
　　e） Identify and discuss operational changes to
　　performance management systems required to
　　implement the performance improvement
　　strategies. [3]
　　F. CURRENT DEVELOPMENTS AND EMERGING
　　ISSUES IN PERFORMANCE MANAGEMENT
　　1. Current developments in management
　　accounting techniques
　　a） Discuss the ways through which management
　　accounting practitioners are made aware of
　　new techniques and how they *uate
　　them. [3]
　　b） Discuss, *uate and apply environmental
　　management accounting using for example
　　lifecycle costing, input/output analysis and
　　activity-based costing. [3]
　　c） Discuss the use of benchmarking in public
　　sector performance （league tables） and its
　　effects on operational and strategic
　　management and client *. [3]
　　d） Discuss the issues surrounding the use of
　　targets in public sector organisations. [3]
　　2. Current issues and trends in performance
　　management
　　a） Assess the changing role of the management
　　accountant in today’s business environment as
　　outlined by Burns and Scapens. [3]
　　b） Discuss contemporary issues in performance
　　management. [2]
　　c） Discuss how changing organisation’s structure,
　　culture and strategy will influence the adoption
　　of new performance measurement methods
　　and techniques. [3]
　　d） Explore the role of the management accountant
　　in providing key performance information for
　　integrated reporting to stakeholders. [2]
　　? ACCA 2014 All rights reserved.
　　14
　　SUMMARY OF CHANGES TO P5
　　ACCA periodically reviews its qualification syllabuses so that they fully meet the needs of stakeholders such as
　　employers, students, regulatory and advisory bodies and learning providers.
　　There are changes to the syllabus to reflect the latest business and educational developments affecting this
　　paper. These are summarised in the table below.
　　Section and subject area Syllabus content
　　New F2d） added
　　Explore the role of the management accountant in
　　providing key performance information for
　　integrated reporting to stakeholders
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