1、ACCA考试 P5高级业绩管理真题 2015年 6月及答案解析(总分：124.97，做题时间：180 分钟)一、Section A This ONE(总题数：1，分数：50.00)1.Merkland Sportswear (MS) is the market leader in sportswear in Ceeland, selling a variety of sportswear products under its own well-known brand. It is primarily a product development and marketing business as
2、 it contracts out all of its manufacturing to third parties around the world and it mostly sells its products through third-party retailers. It has only one store which is located in the capital city of Ceeland. The purpose of this store is to act as a centre for its marketing activities and to be a
3、 tangible representation of the MS brand. However, the main marketing activity for MS is the recruitment and promotion of star sports men and women as MS brand ambassadors. MS tries to have the most well-known sports star in each of the 10 most popular sports in Ceeland as an ambassador. You are a p
4、erformance management advisor to MS, brought into the company by the chief executive officer (CEO) to help the board with a number of issues. The first area which the board of MS requires your input is in a review of the existing performance dashboard for MS (Appendix 1). The dashboard is deliberate
5、ly kept focused as it is for board use and the CEO has indicated that the three performance headings of financial, design and brand will be kept at this time. The board has accepted that there may need to be up to two metrics for each of brand and design but they want to keep the number of financial
6、 metrics at three. The mission statement of the business is designed to be broadly appealing. It is to inspire Ceelanders to compete.From a business perspective, the aims are more focused, MS aims to grow as a business and to maximise shareholder wealth. The CEO further clarified the broad strategy
7、to achieve these aims saying, We want to inspire competition not just in our customers but also within the company, to seek our greatest competitive advantage. We will achieve this by creating innovative products which provide reduced risk of injury and enhanced sporting performance supported by the
8、 best marketing operation in Ceeland. In order to assist in providing more detailed strategies to achieve these aims, the board has instituted a review of the competitive position of MS by commissioning a SWOT analysis (Appendix 2). The CEO has asked that your first task be a review of the current d
9、ashboard metrics (Appendix 1). You should then review the SWOT analysis to suggest changes to the dashboard metrics within the constraints which the CEO has outlined. Also, you are given details on a recent new development in the market. Nush Sportswear, one of the major competitors of MS, has recen
10、tly suffered a scandal which has been widely reported. An investigative reporter discovered that one of the suppliers who manufactured sports shoes for Nush had been using child labour. The country in which the manufacturer worked had rules prohibiting child labour, but enforcement was very weak. Th
11、is story has been widely covered in the media and has led to consumer boycotts and a review by the Ceeland business regulator into Nushs sourcing policies. It has been discovered that this is common practice in the sports footwear business where manufacturing is outsourced to such countries. MS shar
12、eholders have reacted with alarm to the potential damage that this could do to MS brand. They have asked the board to consider changing their policy of outsourcing footwear manufacture. The board is considering two alternative responses: 1. Review and ensure that all outsourced footwear manufacture
13、complies with appropriate employment terms and conditions (where necessary manufacturing would move to third-party companies in countries with appropriate regulation and enforcement); or 2. Create a manufacturing operation for MS in order to have full control of operations. In response 1, the review
14、 of existing third-party manufacturers is being performed by a team from the procurement department. They have also considered the impact of moving all footwear sourcing to more strictly regulated environments. The results of this investigation are given in Appendix 3 and the board wants an evaluati
15、on of the qualitative and quantitative impact of this response. In response 2, the board is considering setting up a factory for the manufacture of all MS footwear. They want to understand the impact of this on MS existing performance metrics. First, they need a forecast of the profit from the facto
16、ry as there are three distinct economic scenarios under which it might operate (see Appendix 4 for details). Second, the board wants to know how the new factory will impact on the existing performance dashboard. However,since the probabilities of these economic scenarios are under debate, the board
17、has said that they want this work to be independent of the results of the profit calculation from Appendix 4. Therefore, the board wants you to use an estimate of $103m profit before interest and tax from the new factory to evaluate the impact of the new factory on the dashboard. (This estimate is b
18、efore product development and marketing costs as it only represents the manufacturing operation at the factory.) Finally, the consultant who did the SWOT analysis has mentioned to the board that if they are thinking of reviewing their existing strategies, then they should consider using the value ch
19、ain to secure competitive advantage. The CEO thinks that you should assess the implications of using the value chain for the performance management of MS. (An outline of the value chain is given in Appendix 5.) （分数：50.00）(1).(i) Assess the existing five metrics (Appendix 1). Using the SWOT analysis
20、in Appendix 2, make suggestions for improvements within the constraints outlined by the CEO. Note: You should ignore the impact of the Nush scandal in this part of the question. (16 marks) （分数：10.00）_(2).(ii) Using the data in Appendix 3, assess the qualitative and quantitative impact on performance
21、 management at MS of response 1. (8 marks)（分数：10.00）_(3).(iii) Calculate the expected operating profit of the new factory and evaluate the use of this method of decision-making under risk. (6 marks)（分数：10.00）_(4).(iv) Using 2015 figures as a base, evaluate the impact of the new factory on the values
22、 and choice of metrics in the existing dashboard. (10 marks)（分数：10.00）_(5).(v) Explain the implications of using the value chain for performance management at MS. (6 marks) Professional marks will be awarded for the format, style and structure of the discussion of your answer. (4 marks)（分数：10.00）_二、
23、Section B TWO ques(总题数：3，分数：75.00)2.Forion Electronics (Forion) manufactures a range of electronic goods. Its business has grown rapidly over the last ten years and is now complex and international. Forion manufactures over 100 different products, selling into 25 different countries. There is a supp
24、lier base of over 200 companies from which Forion sources. As the business has become more complex, the board has found it difficult to pull together all the information that they require in order to make decisions. The current information systems are developed in-house and are based in the function
25、al departments (such as purchasing, manufacturing, warehousing and delivery, selling and marketing). The organisation uses the financial system as a means of bringing together information for an overview of corporate performance. There have been a number of examples of problems encountered with info
26、rmation in Forion: there are inefficiencies arising from ordering the wrong amount of subcomponents; there are often stock-outs or obsolescence of unsold goods in the warehouses, although the marketing department prepares good sales forecasts; and sometimes, there are insufficient delivery vehicles
27、available to meet customer deadlines. The board of Forion believes the problems arise from poor information sharing within the company. They are considering the purchase of an enterprise resource planning system (ERPS) to be the single information system for the whole organisation. Also, Forion is p
28、lanning to launch a smartphone. However, in order to make it competitive they need to have high-visibility, durable screens. As the cost of screen development is considerable, it has been decided to form a strategic alliance with a well-known screen manufacturer to provide this key component for the
29、 new smartphone. Bon Accord Screens (BAS) has been chosen as the strategic ally, as they have a strong reputation for their quality of manufacturing and new product development. BAS has been trying to break into the smartphone market for several years. The alliance agreement has stipulated three cri
30、tical areas of performance for BAS supply to Forion: 1. quality of manufacturing, measured by fault rates of screens supplied being within agreed tolerances (so that they fit Forions phone-bodies); 2. time of delivery, measured by the number of times a shipment is more than one day overdue; and 3. t
31、he ability to provide technical upgrades to the screens as the market demands. The service level agreement (SLA) will be based on these three points and there will be financial penalties built into the agreement if BAS fails to meet these. Required:（分数：24.99）(1).(a) Discuss the integration of inform
32、ation systems in an ERPS and how the ERPS may impact on performance management issues at Forion. (10 marks)（分数：8.33）_(2).(b) Evaluate, from Forions viewpoint, the usefulness of the three critical areas in the alliance agreement for measuring the performance of BAS. (8 marks)（分数：8.33）_(3).(c) Evaluat
33、e the relative reliability of financial and non-financial data from internal and external sources in the context of the alliance between Forion and BAS. (7 marks)（分数：8.33）_2.Victoria-Yeeland Logistics (Victoria) is a logistics support business, which operates a fleet of lorries to deliver packages o
34、f goods on behalf of its customers within the country of Yeeland. Victoria collects packages from its customersmanufacturing sites or from the customers port of importation and delivers to the final user of the goods. The lorries are run and maintained from a set of depots spread throughout Yeeland.
35、 The overall objective of Victoria is to maximise shareholder wealth. The delivery business in Yeeland is dominated by two international companies and one other domestic business and profit margins are extremely tight. The market is saturated by these large operators and a number of smaller operator
36、s. The cost base of Victoria is dominated by staff and fuel, with fuel prices being highly volatile in the last few years. In order to improve performance measurement and management at Victoria, the chief financial officer (CFO) plans to use the balanced scorecard (BSC). However, she has been pulled
37、 away from this project in order to deal with an issue with refinancing the business principal lending facility. The CFO has already identified some suitable metrics but needs you, as her assistant, to complete her work and address any potential questions which might arise when she makes her present
38、ation on the BSC to the board. The CFO has completed the identification of metrics for three of the perspectives (Appendix 1) but has yet to complete the work on the metrics for the customer perspective. This should be done using the data given in Appendix 2. Additionally, two issues have arisen in
39、the reward management system at Victoria, one in relation to senior management and the other for operational managers. Currently, senior management gets a fixed salary supplemented by an annual bonus awarded by the board. Shareholders have been complaining that these bonuses are not suitable.The ope
40、rational managers also get bonuses based on their performance as assessed by their management superiors.The operational managers are unhappy with the system. In order to address this, it has been suggested that they should be involved in bonus target setting as otherwise there is a sense of demotiva
41、tion from such a system. The CFO wants an evaluation of this system of rewards in light of the introduction of the BSC and best practice. （分数：24.99）(1).(a) Discuss how Victorias success in the customer perspective may impact on the metrics given in the financial perspective. (5 marks)（分数：8.33）_(2).(
42、b) Recommend, with justification, and calculate a suitable performance metric for each customer perspective success factor. Comment on the problems of using customer complaints to measure whether packages are delivered safely and on time. (11 marks)（分数：8.33）_(3).(c) Advise Victoria on the reward man
43、agement issues outlined by the CFO. (9 marks)（分数：8.33）_3.Beach Foods (Beach) is a family-owned business which has grown strongly over its 100 year history. The objective of the business is to maximise the familys wealth through their shareholdings. Beach has three divisions. It manufactures a variet
44、y of foods in two of the divisions: Beach Baby Foods (Baby) and Beach Chocolate Foods (Chocolate). Each of these divisions knows its own market and sets prices accordingly. The third division (R that is, whether each division should be treated as a cost/profit/investment centre and also, the appropr
45、iate management style to use for handling staff in each division. The CEO commented to you: I have heard of different approaches to the use of budget information in assessing performance: budget-constrained,profit-conscious and also a non-accounting style. I need to know how these approaches might a
46、pply to each division given your other comments. All of this work has been partly prompted by complaints from the divisional managers. The Chocolate divisional managers complain that they had to wait for a year to get approval to upgrade their main production line. This production line upgrade has reduced wastage and boosted Chocolates profit margin by 10 percentage points. The Baby division has been very successful in using the ideas of the R or 2. Create a manufacturing operation
