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Kaplan Financial ACCA P3 Education & Revision Course

 

 

Some optional information on Kaplan Financial's ACCA P3 Education and Revision Course will be posted on this website.

My contact email: thomas.wu@kaplan.com

For ACCA Global website, please click here.

For ACCA Global website on P3, please click here.

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UPDATES Back to top || Updates || Homework || Session Notes || Buzz Word List

Please check here for updates during the course.

December 12, 2009 In the letter that you have received, point #6 says do not write across the centre of the booklet as the middle margins will not be visible in the marking process. For this, the middle margins is referring to the area where the staples are when you have the answer booklet opened fully and laid it out across on the table. This is NOT the middle margin within your writing area within each page. It is referring to the small area where the pages are stapled together, i.e. the small vertical strip of area to the right of your left page right margin and the your right page left margin when the answer booklet is opened fully. Good luck.
   
December 9, 2009 I have looked over the Hot Tips that I have given to Kaplan to print before and they are fine as they are. Good luck and God speed.
   
November 24, 2009 The earliest cases that I have posted, those were the extent of my notes. For the information on the letter about not writing "across the middle of the page," I am checking to find out more about what it exactly mean. Come back one week before the exam for some tips.
   
November 22, 2009 These are the CPA, PERT, Gantt, and swim lane charts that we discussed in class on November 11.
   
November 17, 2009 These are models that you should review and be familiar with:
 
  • Strategic Lens – strategy as design, strategy as experience, strategy as ideas
  • Rational model of strategy analysis
  • Mendelow’s Matrix on stakeholder analysis – interest vs poer, minimal effort, keep informed, keep satisfied, key player
  • 6M – money, manpower, management, manufacturing, markets, marketing, material
  • SMART – stated / specific, measurable, achievable / agreed / accepted, relevant, time specific
  • Balanced scorecard – financial perspective, customer perspective, internal business perspective, innovation and learning perspective
  • Ansoff’s matrix – product vs market
  • McKinsey 7S – structure, systems, style, staff, skills, strategy, shared values
  • Cultural web – organizational paradigm, control systems, rituals and routines, myths and stories, symbols and titles, power relations, organization structure
  • Organization structure – functional, divisional, matrix
  • Organization form by Mintzberg
  • Value chain
  • Harman’s Process strategy – for outsourcing
  • Balogun and Hope Hailey – contextual – power, time, diversity, capacity, preservation, readiness, capability, scope
  • Nature of strategic change – scope of change (realignment vs transformation), nature of change (incremental vs big bang) = adaptation, evolution, reconstruction, revolution
  • Lewin’s 3 steps to cultural change – unfreeze, effect the change, refreeze
  • CMMI
  • V-model of software testing
  • CPA, PERT, Gantt, swim lane
   
November 7, 2009 Our next class is on Wednesday November 11 in Admiralty from 7pm until 10pm.
   
November 4, 2009 Our next class is on Saturday, November 7 in Admiralty from 2pm until 9pm. Please check on what to prepare for that class. The buzz word list might also help in keeping your writing short.
   
October 20, 2009 Our next class is on Tuesday, November 3 in Admiralty. The assignment would be an external evaluation of "White Flower Oil."
   
October 6, 2009 The next P3 class will be held on October 13 in Admiralty. We will start the revision session. Please bring ID and receipt to collect your material on the first day of class.
   
September 30, 2009 Please note that our class on this coming Saturday will start at 10am instead of the 2pm in previous Saturdays. Please bring the material as listed on Sept 24 update.
   
September 30, 2009 The two technical articles on software and outsourcing are available for downloading in Session Notes.
   
September 24, 2009 For the remaining 3 sessions please bring the following technical articles and cases so that we can go through them:
 
  • Oceania question from Dec 2007 paper,
  • Sample case given in Feb 2009 for the format change,
  • Universal Pottery Company,
  • Hair Care,
  • Ashkol Furniture Supplies,
  • Playwell,
  • Rinsfield Theatre II,
  • Accounting and Organization Culture (Nov 2008),
  • The Software Package Approach to Information Systems Development (May 2007),
  • Strategic Planning Models (May 2007),
  • Quality Plans (May 2007),
  • A Primer on Knowledge Management (May 2007),
  • Outsourcing IT/IS Services (May 2007),
  • Outsourcing in the Financial Services Industry - Make or Buy (May 2007),
  • Strategy Challenge: the Internet - Building a New Vision (Feb 2007),
  • Understanding the Importance of Appraisals (Apr 2004),
  • IT Development Methodologies (Aug 2005),
  • Theories of Leadership Style (Sept 2005), and
  • Records and Appraisal (Sep 2001).
   
September 23, 2009 Please check back here before the next class to see which articles or material you should bring.
   
September 20, 2009 For our September 22 session, please bring the following technical articles:
 
  • Business Process Change (Sept 2008),
  • Strategic Planning in Practice (Feb 2008),
  • Mergers and Acquisitions - A Problem of Culture (May 2007),
  • The Development of Global Companies (May 2007),
  • The Adaptability of Strategic Models (May 2007),
  • The Seven Deadly Sins of Strategic Implementation (May 2007),
  • Strategic Choices and Change Management (May 2007),
  • Corporate Decline (May 2007), and
  • Corporate Recovery (May 2007).
   
September 19, 2009 For our September 22 session, please bring the following: Oceania and the format change sample case (download here).
   
September 19, 2009 The marked articles can be downloaded here: balanced scorecard 1, balanced scorecard 2, stakeholder1, stakeholder 2.
   
September 18, 2009 The balanced scorecard article can be downloaded here.
   
September 15, 2009 For our next session, please bring (a) joint venture article dated May 2007, (b) balanced scorecard Dec 1999, (c) Oceania from session 1, and (d) our half finished CRC case from Sept 15, 2009.
   
September 15, 2009 New buzz words have been added, please go to Buzz Word List.
   
September 5, 2009 For our class on Tuesday, September 8, 2009, please read and bring the following items:
 
  • Defining Manager's Information Requirements, Critical Success Factors (Aug 2006),
  • Stakeholder Analysis (Oct 1999),
  • All About Stakeholders I (Jan 2008),
  • All About Stakeholders II (Feb 2008),
  • Corporate Governance (Aug 2009),
  • The Power of Branding (Jul 2007),
  • Accounting and Organizational Cultures (Nov 2008),
  • Professional Ethics - A Kloser Look (May 2003), and
  • Ethical Decision Making (Mar 2008).
   
September 4, 2009 My new email is thomas.wu@kaplan.com (without the .hk extension now).
   
September 2, 2009 The powerpoint that I used on September 1 can be downloaded here.
   
September 1, 2009 P3 summary notes can be downloaded here.
   
August 30, 2009 P3 mindmap can be downloaded here.
   
August 16, 2009 The P3 examination will be held on Wednesday, December 16, 2009.
   
July 27, 2009 An summary of the topics asked in past papers can be downloaded here.
   
July 7, 2009 An informational seminar will be held on Monday July 27 and Saturday August 29. Please check Kaplan website for time, location, and registration details.
   
June 6, 2009 The course will start on September 2, 2009. Other relevant materials will be distributed on the first day of class.

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HOMEWORK Back to top || Updates || Homework || Session Notes || Buzz Word List

P3 summary notes can be downloaded here.

P3 mindmap can be downloaded here.

An summary of the topics asked in past papers can be downloaded here.

Due September 1, 2009

There are information from ACCA on the paper itself that you should read or listen to. They are all available from ACCA's website.

 
  • Examiner's approach article,
  • Examiner's approach interview, and
  • Examiner's analysis interview.
   
  These are articles from ACCA on how to STUDY BETTER:
 
  • Zoom Learning (May 2002), and
  • Sleep Is For Wimps (Apr 2009).
   
  These are articles from ACCA on how to READ and PLAN BETTER:
 
  • Understand The Question (Feb 2005),
  • ** Reading and Planning Time (Jul 2007),
  • Make Your Reading Count (Nov 2008),
  • Speed Reading (Jun 2009),
  • ** Testing Times (May 2009), and
  • Exam Confidence (Aug 2008).
   
  These are articles from ACCA on how to WRITE BETTER for higher marks:
 
  • ** Effective Report Writing (Aug 2000),
  • To Whom It May Concern (May 2001),
  • ** How To Clean Up In Exams (May 2002),
  • Professional Marks (Oct 2007),
  • Professional Marks (June 2009),
  • ** Answering The Scenario Question (Aug 2006),
  • How To – Prepare To Pass (May 2008),
  • Put To The Test (May 2008),
  • Examiner Approach To P3 (Jan 2007), and
  • Pass Note For P3 (Sep 2007).
   
  ** Must read articles.
   
Due September 5, 2009 Familiarize yourself with these Key Words (evaluate, compare, examine, etc.) in Module 1 of your notes. Translate to Chinese (if needed) or use other ways to make sure that you understand their requirements.
   
Due September 8, 2009 Read and bring the following technical articles and items:
 
  • Defining Manager's Information Requirements, Critical Success Factors (Aug 2006),
  • Stakeholder Analysis (Oct 1999),
  • All About Stakeholders I (Jan 2008),
  • All About Stakeholders II (Feb 2008),
  • Corporate Governance (Aug 2009),
  • The Power of Branding (Jul 2007),
  • Accounting and Organizational Cultures (Nov 2008),
  • Professional Ethics - A Kloser Look (May 2003), and
  • Ethical Decision Making (Mar 2008).
   
Due September 15, 2009 Two practice questions:
 
  • Use the 3E's to evaluate an hospital and a school, including recommendations on what and how to evaluate these value for money measurements.
  • Perform external analysis of PESTEL, Porter's Five Forces, Porter's Diamond, and marketing mix on one of these three companies: Disney Hong Kong, Ocean Park Hong Kong, and the proposed Disney Shanghai.
   
Due September 29, 2009 For submission, using the Oceania case from December 2007 as base, use the suitability, acceptability, and feasibility selection criteron to evaluaton the strategic choices below.
 
  • do nothing,
  • become a budget airline,
  • do cargo / new business,
  • focus on business or leisure traveller only, and
  • buy a budget airline.
   
Due October 6, 2009 Please read the Airtite case, do a 12 minute write up for the environment analysis in Part (a) and think about Part (b) for discussion in class.
   
Due October 20, 2009 With Yes magazine as our topic, please do (a) the economic, social, and technology part of the PESTEL analysis, and (b) use the chart for Porter's 5 Forces and highlight which factors are relevant for YES under the 5 forces.
   
Due November 3, 2009 Perform an external analysis (model and component of your choice) for "White Flower Oil" of Hong Kong. You can find out more from www.whiteflower.com.hk.
   
Due November 7, 2009 For this session, please think about the following:
 
  • what are the characteristics of budget airlines (what are the CSF for this particular type of companies),
  • for the Airtite case part (a), the question asked for the "conditions affecting the low cost air travel industry," how does that affect what you have written on Tuesday November 3, and
  • for the Airtite case part (b), prepare to write about in class how "the process of developing scenarios" might help John.
   
Due November 11, 2009 Please think about these topics for class on the Clyde Williams case:
 
  • what kind of business is it in?
  • special characteristics of this industry?
  • what are the CSF for companies in this industry?
  • what is the company's current strategy?
  • what has changed?
  • what is the new strategy?
  • what are discussion points in the external and internal analysis?
  • who are the stakeholders in the case?
   
Due November 14, 2009 Please read the following cases before coming to our next class: Playwell, Haircare, Shirtmaster Group, CCC Car Manufacturer, and Churchill Ice Cream.
   
Due November 24, 2009 Please read the following cases before coming to our class: National Museum (Dec 2008, can be downloaded from ACCA website), greenTech (Jun 2009, can be downloaded from ACCA website), Haircare, Playwell, MMI.

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SESSION NOTES Back to top || Updates || Homework || Session Notes || Buzz Word List

P3 summary notes can be downloaded here.

P3 mindmap can be downloaded here.

An summary of the topics asked in past papers can be downloaded here.

Education Session 1

Today we went through the following:

September 1, 2009
  • introduction to P3 paper,
  • introduction to exam skills and some common mistakes,
  • discussed Module 1 of the education notes, and
  • worked through Dec 2007 P3 paper.
  [DOWNLOAD: Module 1 Powerpoint]
   
Education Session 2 & 3 We went through Module 2 and Module 3 today, and topics covered include:
September 5, 2009
  • the purpose, levels, advantages and disadvantages of strategic planning,
  • analysis of financial information,
  • not-for-profit organizations,
  • external analysis using PESTEL, Porter's Five Forces, and Porter's Diamond models,
  • strategic marketing using the 7Ps,
  • internal analysis using 6Ms, 7Ps, value chain analysis, product life cycle analysis, BCD matrix,
  • benchmarking,
  • missions and objectives,
  • stakeholder analysis using Mendelow's Power-Interest matrix, and
  • culture and ethics.
   
Education Session 4 We discussed these topics in Module 4:
September 8, 2009
  • how to generate stategic choices,
  • Porter's generic strategies of cost leadership, differentiation, and focus,
  • choices of doing nothing, withdrawal, and expansion using Ansoff's Matrix, vertifical, horizontal, and conglomerate diversification,
  • Porter's tests for assessing acquisitions,
  • synergy,
  • organic growth versus acquisition, and
  • ways to expand internationally.
   
Education Session 5 Today, we looked at:
September 15, 2009
  • the suitability, acceptability, and feasibility test for the strategic selection process,
  • rational, emergent, and incremental strategies, and
  • the CRC comprehensive case.
   
Education Session 6 & 7 We discussed the following topics:
September 19, 2009
  • feedback on the 3E exercise submitted this week,
  • feedback on the Disney HK / Disney Shanghai / Ocean Park practice question submitted this week,
  • joint venture technical article,
  • balanced scorecard technical article,
  • balanced scorecard and small business technical article,
  • stakeholder analysis technical articles,
  • another 3E question using HK Forestry service,
  • session 6 notes, and
  • CRC and sample case from examiner.
   
Education Session 8 We looked at:
September 22, 2009
  • ACCA technical articles on use of strategic models in planning, strategic implementation, and change management,
  • ACCA technical articles on corporate decline and corporate recovery,
  • ACCA technical articles on business process change,
  • session 8 notes on business process change,
  • CMMI model,
  • Harmon's process-strategy matrix,
  • outsourcing, and
  • software solutions including selection and evaluation of solutions.
   
Education Session 9 We looked at Module 9 notes on IT's effect on strategy:
September 29, 2009
  • IT and Porter's 5 forces and Porter's generic strategy,
  • e-business and stages of e-business,
  • use of IT in other business developments,
  • supply chain management,
  • upstream supply chain management and e-procurement,
  • downstream supply chain management and e-marketing,
  • 7Ps and 6Is,
  • e-branding,
  • Rinsfield Theatre II question,
  • technical article on bespoke or off-the-shelf software selection, and
  • technical article on IT and outsourcing.
  [DOWNLOAD: Software package selection technical article, Outsourcing IT services technical article]
   
Education Session 10 & 11 We went through Module 10 and 11 on:
October 3, 2009
  •  CRM system,
  • customer lifecycle,
  • quality, quality control, quality assurance,
  • quality management,
  • TQM and six sigma,
  • DMAIC,
  • the v model for software testing,
  • the CMMI assessment framework,
  • project management constraints - time, cost, scope,
  • project risk management,
  • project initiation document,
  • project plan,
  • managing and leading projects,
  • technical articles on the v model and project quality plan, and
  • the UPC and Asia Invest case questions.
  [DOWNLOAD: The v model technical article, Quality plan technical article]
   
Education Session 12 Today, we did:
October 6, 2009
  • Session 12 on people management,
  • Airtite question and compare the differences in result between the Airtite case and Oceania case,
  • the February 2009 format change article case on the engineer society, and
  • the Clothing Company case on project management.
   
Revision Session 1 We went through:
October 13, 2009
  • the syllabus under P3,
  • order of things to do in the actual P3 exam,
  • the review of the list of topics within each syllabus,
  • the general description and requirement of action words in questions,
  • the analysis of the Oceania case by going through the questions and reading part of the case to pick up the "marks," and
  • the requirement of using YES magazine as our case study.
  [DOWNLOAD: Powerpoint from the first revision course]
   
Revision Session 2 We covered the following items:
October 20, 2009
  • external analysis of YES magazine using PESTEL and 5 Forces,
  • an overview of how to perform an internal analysis of YES magazine using various models,
  • review of questions on AEC,
  • evaluate component by component the question requirements of AEC, and
  • an attempted answer of extension questions to AEC on benefits of e-marketing and organic growth vs acquistion.
  [DOWNLOAD: Notes from class, AEC notes]
   
Revision Session 3 In this section, we went through the following topics:
November 3 , 2009
  • discussion of the characteristics of the market and nature of the product for White Flower Oil,
  • external analysis of White Flower Oil,
  • strategic alternatives determination using Ansoff matrix, various types of integration, international expansion, and various forms of cooperation for expansion,
  • the alternative of non-action or kill product (BCG’s cash cow and dog position),
  • worked through the case of 3C Pharmaceuticals,
  • worked through the case of PSI, and
  • worked through the environmental analysis (part a) of the Airtite case.
  [DOWNLOAD: 3C Pharmaceuticals, PSI]
   
Revision Session 4 & 5 We discussed the following cases in class today:
November 7, 2009
  • use of buzz words to simplify writing,
  • Airtite case external analysis,
  • Airtite case the benefits from the process of developing scenarios,
  • Good Sport case full analysis,
  • quality with the Pipe Dream case,
  • Greenfield Nurseries case full analysis,
  • Salt and Soap case full analysis,
  • started Clyde William case which we will finish next time.
  [DOWNLOAD: Airtite, Good Sport, Pipe Dream, Greenfield Nurseries, Salt and Soap]
   
Revision Session 6 We worked through the following cases:
November 11, 2009
  • Clyde William case from external analysis to strategic choice and selection,
  • Sun and Sand Travel case for performance indicators and CSFs,
  • Woodsy case on value chain analysis, and
  • started on the AutoFone case.
  [DOWNLOAD: Clyde William, Sun and Sand Travel]
   
Revision Session 7 & 8 We worked on the following items today:
November 14, 2009
  • walked through five technical articles from the Student Accountant magazine,
  • worked through the Elegant Hotel case which focuses on issues that arise out of performance measurement and reward determination,
  • finished the discussion on how to answer the AutoFone case,
  • worked through the CCC Car Manufacturing case,
  • discussed the RitePay software case, and
  • discussed the 3C case.
  [DOWNLOAD: technical article on competency framework, P3 June 2009 Examiner Feedback, not for profit 1, not for profit 2, project management]
  [DOWNLOAD: Elegant Hotel, AutoFone, CCC Car Manufacturer, RiteSoftware, Country Car Club]
   
Revision Session 9 Tonight we worked on the following:
November 17, 2009
  • some writing tips,
  • look at some of the less commonly used but frequently testable models and frameworks within the P3 syllabus,
  • went through the various project management tools like CPA, PERT, Gantt charts, and swim lane,
  • looked at the IISA prepared by the P3 Examiner in March 2009,
  • worked on the ASW case,
  • worked on the Equiguard case,
  • discussed the DRB case,
  • worked on Benefit of Appraisal, and
  • Equiguard case.
  [DOWNLOAD: ASW, DRB, Benefits of Appriasal, Equiguard]
   
Revision Session 10 We worked on the following cases tonight:
November 24, 2009
  • the Playwell case,
  • the greenTech case from June 2009 P3,
  • National Museum case from December 2009 P3, and
  • the MMI case.
  [DOWNLOAD: Playwell, greenTech, greenTech swim lane, National Museum, MMI]
   
December 16, 2009
P3 Examination
Wednesday  

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BUZZ WORD LIST Back to top || Updates || Homework || Session Notes || Buzz Word List

November 4, 2009
From the BCG Matrix, see definition from notes, below are examples of usage. Use quotes around the phrase and bracket (BCG Matrix) behind to clarify the term being used, no need to explain what these terms mean unless it is question specific and you have links from the case to support your writing. Think about the 3C Pharmaceticals case when their products are evaluated.
 
Cash Cow
1. Product ABC is the "Cash Cow" (BCG Matrix) of this division, we can use the cash flow from ABC to support our strategy to produce EFG. (In this example, it is assumed that there are many references in the case to ABC being a cash cow but they are not described here. Instead, the focus after this sentence would be to describe the strategic reason to produce EFG using PESTEL, 5 forces, Porter Diamond, etc.)
 
Star
1. Our market research indicates that product XYZ is the "Star" (BCG Matrix) of our company: our customer base is growing at over 50% a year, and we currently have over 60% of the total market. However, we will need to ensure that we have the working capital available to support this growth. We will need large investments in capital assets to support the production, we will also need to finance the working capital increase to support larger inventory and accounts receivable. (Then provide support from financial ratios of low working capital availability.)
   
September 15, 2009
Effective
Having the intended or expected effect.
1. This new marketing strategy is very effective in reaching our target audience.
 
2. John has been very effective in pursuing customers to switch to products with our own brand name.
   
Efficient
Use with least waste of time and effort.
 
1. This strategy will allow the firm to use all its resources efficiently by .....
  2. The efficient use of resources in our production process is in congruence with our corporate strategy of being a low cost provider of this product.
   
September 19, 2009  
Infrastructure
The basic underlying framework or features of a system
 
1. Our mission statement is to have an infrastructure in place to provide our clients with the highest possible customer service level.
 
2. We can increase our profit margins by expanding our production operations in China because there is already an established set of local suppliers and the related infrastructure there.
   
September 22, 2009  
Sustainable
Can be maintained in the longer term.
1. Company Y's cost leadership position is sustainable because no other companies in this industry can manufacture as efficient as this company.
Attributes
Characteristics.
1. Company A's new products have many attributes that the target market desires.
   
September 29, 2009  
Financial leverage
The use of indebtedness to finance the company such that the company has a high financial break even point.
Operating leverage
The use of fixed assets in the operation such that a high break even point results.
   
October 3, 2009  
Strategic position
Can be used as a general term to describe the overall strategic position of the company, for example:
 
1. The strategic position of ABC is strong because .....
 
2. By buying this equipment / merging with DEF ...., the strategic position of ABC will be stronger because .....
 
3. ONA should not change its strategic position to become a no-frill budget airline because .....
 
Strategic fit
Can be used as a general term to describe how well strategic parts come together, for example:
 
1. Focusing on the regional business traveler would be a good strategic fit for ONA because of their high load factor, price insensitivity, .....
 
2. Close cooperation with a logistic company might be a good strategic fit for Perfect Shopper because the logistic company can provide efficient and effective service for both the inbound and outbound deliveries and inventory management for Perfect Shopper.

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