Part of the ACCA F5 Paper discusses Life-Cyle Costing. This is a simple explanatiomn and definition.
Life-cycle cost analysis became popular in the 1960s when the concept was taken up by U.S. government agencies as an instrument to improve cost effectiveness of equipment procurement. From that time, the concept has spread to the business sector worldwide, and is used in new product development studies, project evaluations and management accounting.
Life Cycle Costing (LCC) also called Whole Life Costing is a structured approach that addresses all the elements of the total cost of a product or service and can be used to produce a cost profile of the product or service over its anticipated life-span. The results of an LCC analysis can be used to assist management in the decision-making process where there is a choice of options. The accuracy of LCC analysis diminishes as it projects further into the future, so it is most valuablhttp://www.blogger.com/img/blank.gife as a comparative tool when long-term assumptions apply to all the options and consequently have the same impact. Life-cycle costing can also be used to control life-cycle costs.
In a single sentence the definition of Life Cylce Costing can be summed up: "Life cycle costing is the accumulation of costs over a product's entire life span."
For more information on Life Cylce Costing, or other aspects of the ACCA F5 paper, head to ACCA F5 study material publishers, TonySurridge.co.uk
Showing posts with label ACCA Paper. Show all posts
Showing posts with label ACCA Paper. Show all posts
Saturday, 24 September 2011
Wednesday, 17 August 2011
ACCA exam preparation and the ACCA revision required.
ACCA revision time
August sees the start of a new semester, and as the term proceeds and the December ACCA exams loom ever near many a student will fear - as a sudden sense of doubt and worry sets in the student’s mind - the one over-ruling question – “Have I done enough revision to pass my ACCA exams?”
Exam time is never easy, and as educational professionals in the industry, we are constantly asked by students the same question – “How much time should I spend on my ACCA revision?” And every time we must reply the same response – it differs from student to student, with no real set answer. Unlike registering for a new subject where there are a set number of hours you should study in order to fully absorb the information (usually 40 hours), revision for your ACCA exams is slightly harder to gauge.
Revision is always subjective, depending on the student’s quick learning ability, if they have an existing aptitude for the topics in that subject (e.g. if the ACCA Paper involves more calculations and is orientated around figures, or whether it is a discursive paper) and also most importantly, if they already have prior knowledge of the subject. Some students may be taking a re-sit, and know the subject better than others, or if the subject is an advanced paper and the student already has a solid understanding of the foundation level that preceded it. All these factors will play a part in their ACCA revision.
However, as a benchmark we would always advise to try for 18 hours revision per subject. If they are taking multiple ACCA exams at the same sitting, with time dwindling away, it’s down to the ACCA student’s ability to manage their time efficiently and prioritise where the bulk of their time should be spent.
For more advise and ACCA study guides for ACCA revision, see the TonySurridge.co.uk website.
August sees the start of a new semester, and as the term proceeds and the December ACCA exams loom ever near many a student will fear - as a sudden sense of doubt and worry sets in the student’s mind - the one over-ruling question – “Have I done enough revision to pass my ACCA exams?”
Exam time is never easy, and as educational professionals in the industry, we are constantly asked by students the same question – “How much time should I spend on my ACCA revision?” And every time we must reply the same response – it differs from student to student, with no real set answer. Unlike registering for a new subject where there are a set number of hours you should study in order to fully absorb the information (usually 40 hours), revision for your ACCA exams is slightly harder to gauge.
Revision is always subjective, depending on the student’s quick learning ability, if they have an existing aptitude for the topics in that subject (e.g. if the ACCA Paper involves more calculations and is orientated around figures, or whether it is a discursive paper) and also most importantly, if they already have prior knowledge of the subject. Some students may be taking a re-sit, and know the subject better than others, or if the subject is an advanced paper and the student already has a solid understanding of the foundation level that preceded it. All these factors will play a part in their ACCA revision.
However, as a benchmark we would always advise to try for 18 hours revision per subject. If they are taking multiple ACCA exams at the same sitting, with time dwindling away, it’s down to the ACCA student’s ability to manage their time efficiently and prioritise where the bulk of their time should be spent.
For more advise and ACCA study guides for ACCA revision, see the TonySurridge.co.uk website.
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