ACCA考试经验分享：ACCAP5基础不好怎么过

　　选P5的时候有点纠结，因为，第一，每年的通过率全球;第二，我F5只考了五十多，基础不好，担心学着会比较辛苦。但是转念一想，P阶段课程虽然与前者有关联，但是重要还是自己对这门课的付出，并不是基础好就一定能过，也不是基础不好就一定不会过。

　　在这里，想要提醒的一句是，一旦做出了选择就要坚定，不要因为学习中遇到了困难就怀疑自己的选择，甚至半途而废。

　　P5通过率低和考试规律不明显是分不开的。在做真题的过程中，我发现P5考题没有规律可循。即便考点一样，但考的内容也会不一样(像这次的CorporateFailure)。所以我建议把每个知识点都理解一遍，而不是猜题。

　　P5考试一共3道题，Q1为必做题，50分。Q2-Q4，为选做题，3选2，50分。

　　Q1主要是考PerformanceManagement (包括measurement)，其中重要的一个知识点是CSF(Critical Success Factor)。它往往藏在企业的Mission(使命/战略陈述)里面。考官喜欢问企业的Performance Measurement指标是否选的合适。(实际上)基本上都是不合适的，然后我们就要从企业的Mission里找。

　　通常Mission包含的是非财务指标，而题中给出的基本都是财务指标。KPI是用来衡量企业是否实现了它的CSF，比如对于一家航天公司来说，重要的当然是安全性，准时性和舒适性等。这些就需要多做题来培养Commonsense。

　　Q2-Q4考的范围很广，甚至会涉及到F5/P3知识点，比如Costing, Budget, BCG, PESTEL等。但和F5/P3不同的是，P5考官喜欢让你用这些模型来评估公司的Performance，并且说明它们的优缺点。

　　ACCAP5考试：P5知识点-波特5力模型

　　波特5力模型是业绩管理模型中的一种，是用于帮助定义行业或部门的竞争力源泉。

　　>>>ACCAP5要如何学习

　　The use of Porter’s five forces model (see Figure 1) will help identify the sources of competition in an industry or sector.

　　The model has similarities with other tools for environmental audit, such as political, economic, social, and technological (PEST) analysis, but should be used at the level of the strategic business unit, rather than the organisation as a whole. A strategic business unit (SBU) is a part of an organisation for which there is a distinct external market for goods or services. SBUs are diverse in their operations and markets so the impact of competitive forces may be different for each one.

　　Five forces analysis focuses on five key areas: the threat of entry, the power of buyers, the power of suppliers, the threat of substitutes, and competitive rivalry.

　　THE THREAT OF ENTRY

　　This depends on the extent to which there are barriers to entry. These barriers must be overcome by new entrants if they are to compete successfully. Johnson et al (2005), suggest that the existence of such barriers should be viewed as delaying entry and not permanently stopping potential entrants. Typical barriers are detailed below.

　　Economies of scale For example, the benefits associated with volume manufacturing by organisations operating in the automobile and chemical industries. Lower unit costs result from increased output, thereby placing potential entrants at a considerable cost disadvantage unless they can immediately establish operations on a scale that will enable them to derive similar economies. The capital requirement of entry These vary according to technology and scale. Certain industries, especially those which are capital intensive and/or require very large amounts of research and development expenditure, will deter all but the largest of new companies from entering the market. Access to supply or distribution channels In many industries, manufacturers enjoy control over supply and/or distribution channels via direct ownership (vertical integration) or, quite simply, supplier or customer loyalty. Potential market entrants may be frustrated by not being able to get their products accepted by those individuals who decide which products gain shelf or floor space in retailing outlets. Retail space is always at a premium and untried products from a new supplier constitute an additional risk for the retailer. Supplier and customer loyalty A potential entrant will find it difficult to gain entry to an industry where there are one or more established operators with a comprehensive knowledge of the industry, and with close links with key suppliers and customers. Cost disadvantages independent of scale Well-established companies may possess cost advantages which are not available to potential entrants irrespective of their size and cost structure. Critical factors include proprietary product technology, personal contacts, favourable business locations, learning curve effects, favourable access to sources of raw materials, and government subsidies.

　　Expected retaliation In some circumstances, a potential entrant may expect a high level of retaliation from an existing firm, designed to prevent entry - or make the costs of entry prohibitive. Government regulation This may prevent companies from entering into direct competition with nationalised industries. In other scenarios, the existence of patents and copyrights afford some degree of protection against new entrants. Differentiation Differentiated products and services have a higher perceived value than those offered by competitors. Products may be differentiated in terms of price, quality, brand image, functionality, exclusivity, and so on. However, differentiation may be eroded if competitors can imitate the product or service being offered and/or reduce customer loyalty.

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