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Keep Failing AFM? Thinking of APM?

Richard Clarke

Keep Failing AFM? Thinking of APM?

Advice for ACCA Student

Failing an exam multiple times can be incredibly demotivating, especially when it's the last hurdle before completing your ACCA qualification. So, it might be worth considering a switch to APM. Here are some points to help you make an informed decision:

Understanding APM vs. AFM

Advanced Financial Management (AFM)

  • Focus: AFM delves into complex financial instruments, risk management techniques, and advanced investment appraisal.
  • Skills Required: Strong technical skills in financial management, quantitative analysis, and application of complex financial theories.
  • Exam Nature: More calculations and objective, with clear right or wrong answers.
  • Pass Rates: Historically higher than APM, with recent pass rates around 45%.

Advanced Performance Management (APM)

  • Focus: APM is centered on performance management, strategic planning, and decision-making techniques.
  • Skills Required: Strong analytical skills, ability to understand and apply performance measurement systems, and strategic thinking.
  • Exam Nature: More wordy, requiring good exam technique to understand and respond to questions effectively. Involves significant judgment, evaluation, and criticism.
  • Pass Rates: Generally lower than AFM, with recent pass rates around 34%.

Considerations for Switching to APM

Pros

  • Different Skill Set: If you find calculations challenging but excel in analytical writing and strategic thinking, APM might play to your strengths better.
  • Fresh Start: Switching to a new subject can provide a psychological boost and renewed motivation.
  • Overlap with Other Papers: If you have done well in papers like SBL, you might find some overlap in the strategic and analytical aspects of APM.

Cons

  • Learning Curve: APM requires a different approach and understanding, which might take time to adapt to.
  • Exam Technique: Success in APM heavily relies on mastering exam techniques and understanding what is asked in questions, which can be tricky.

Advice for Success

If You Stick with AFM

  • Identify Weak Areas: Analyse your past exam attempts to identify consistent weak areas and focus on improving them.
  • Use aCOWtancy Resources: Go through each class in the online classroom and think to yourself afterwards - can I explain the basics of this individual class to a friend?

If You Switch to APM

  • Understand the Exam: Familiarise yourself with the nature of APM exams by reviewing past papers and examiner reports
  • Develop Exam Technique: Focus on improving your ability to understand and respond to what is asked in the questions. Practice writing clear, concise, and well-structured answers.

Conclusion

Switching to APM could be a viable option if you feel demotivated and believe that a different type of exam might suit your strengths better. However, it’s important to weigh the pros and cons and consider your own skills and preferences. Remember, many students face similar challenges and ultimately succeed with perseverance and the right strategy.