The second element was well answered by those that knew and could explain the stages in a Human Resource Plan. Many demonstrated an excellent knowledge of the data provided in the preseen and used this to illustrate and explain the stages and scored well. Less good answers focused on the individuals’ needs for training and development rather than the organisation’s needs, but earned some credit nonetheless. Variant 4 Competency Designed to test ability to: Syllabus component learning outcome: being tested: F1 B2(b) Apply the rules contained in IFRS to – – generate appropriate accounting entries in Explain how the expenditure on a development respect of reporting performance, accounting for Technical skills project will be treated in the financial statements. taxation, employee benefits, non-current assets, accounting for government grants, impairment, Task 1 inventories and events after the reporting period. P1 B4(a) Discuss the concept of the budget – – Explain how a feedforward control approach as a control system and the use of responsibility Technical skills differs from a feedback control system and the accounting and its importance in the construction Leadership skills benefits of using a feedforward control approach. of functional budgets that support the overall master budget. Interpret the meaning of variances in an operating P1 A1(d) Interpret material, labour, variable – – statement and gives reasons for why they have Technical skills overhead, fixed overhead and sales variances Task 2 arisen. Explain how an MRP system may benefit the E1 D2(b) Explain how relationships within the – – Business skills business in the future. supply chain can be managed. P1 D1(b) analyse risk using sensitivity – – Explain probability tables and the limitations of Technical skills analysis, expected values, standard deviations using expected value to make a decision. Task 3 and probability tables Explain ways of promoting a new product using a E1 E2(a) Apply the main techniques of – – People skills limited budget. marketing Explain a multi-product breakeven chart and its Technical skills P1 C2(b) apply breakeven analysis in multiple – – Task 4 usefulness to the business. People skills product contexts
The second element was well answered by those that knew and could explain the stages in a Human Resource Plan. Many demonstrated an excellent knowledge of the data provided in the preseen and used this to illustrate and explain the stages and scored well. Less good answers focused on the individuals’ needs for training and development rather than the organisation’s needs, but earned some credit nonetheless. Variant 4 Designed to test ability to: Competency being tested: Syllabus component learning outcome: Task 1 Explain how the expenditure on a development project will be treated in the financial statements. Technical skills F1 – B2(b) – Apply the rules contained in IFRS to generate appropriate accounting entries in respect of reporting performance, accounting for taxation, employee benefits, non-current assets, accounting for government grants, impairment, inventories and events after the reporting period. Explain how a feedforward control approach differs from a feedback control system and the benefits of using a feedforward control approach. Technical skills Leadership skills P1 – B4(a) – Discuss the concept of the budget as a control system and the use of responsibility accounting and its importance in the construction of functional budgets that support the overall master budget. Task 2 Interpret the meaning of variances in an operating statement and gives reasons for why they have arisen. Technical skills P1 – A1(d) – Interpret material, labour, variable overhead, fixed overhead and sales variances Explain how an MRP system may benefit the business in the future. Business skills E1 – D2(b) – Explain how relationships within the supply chain can be managed. Task 3 Explain probability tables and the limitations of using expected value to make a decision. Technical skills P1 – D1(b) – analyse risk using sensitivity analysis, expected values, standard deviations and probability tables Explain ways of promoting a new product using a limited budget. People skills E1 – E2(a) – Apply the main techniques of marketing Task 4 Explain a multi-product breakeven chart and its usefulness to the business. Technical skills People skills P1 – C2(b) – apply breakeven analysis in multiple product contexts
OCS%20Examiner's%20report%20August%202018.docx