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1、PerformanceappraisalPerformanceappraisalrequiresgoodinterpretationandagoodunderstandingofwhattheinformationmeansinthecontextofthequestionPerformanceappraisalisanimportantaspectofPaperF7,?FinancialReporting?andofinteresttoPaperP3students.Atthislevelyouarenotonlyrequiredtoprepare
2、financialstatementsbutunderstandtheinformationunderpinningtheresults.Youwilloftenberequiredtomakeuseofratiostoaidinterpretationofthefinancialstatementsforthecurrentyearandtocomparethemtotheresultsofapriorperiod,anotherentity,oragainstindustryaverages.Increasingly,candidateexamp
3、erformanceisdemonstratingalackofcommercialawarenessandknowledgethatbarelystretchespastthe'rotelearned'phase.Candidatesregularlystatefactssuchas'grossprofitmarginhasincreased'or,'payablesdayshavegonedown'butthisoffersnointerpretationofthereasonbehindthechangeinratio.Asaresultmar
4、kersfinditdifficulttoawardsufficientmarkstocandidatestoachieveapass.Thisarticleisdesignedtoaidcandidatesinunderstandingwhatisexpectedtocreateasolidanswertoaperformanceappraisalquestion.SPECIFICPROBLEMSWhenmarkingthisstyleofquestiontherearesomecommonweaknessesthatareidentified,s
5、omeofwhicharehighlightedbelow:·limitedknowledgeofratiocalculations·appraisalnotlinkedtoscenario·poorunderstandingofthetopic·limitedunderstandingofwhataccountinginformationrepresents·lackofcommercialawareness·discursiveelementsoftennotattempted·inabilitytocometoaconclusion·poorh
6、andwriting(oftenillegibleinsomeinstances)·poorEnglish.USETHESCENARIOThemajorityofquestionsthatfeatureperformanceappraisalhaveanaccompanyingscenariotothequestionrequirement.Aweakanswerwillmakenoattempttorefertothisinformationintheappraisaland,therefore,willoftenscorefewmarks.Iti
7、simportantthatyoucarefullyconsiderthisinformationandincorporateitintoyourappraisalbecauseithasbeenprovidedforareason.Donotsimplylistallthepossibilitiesofwhyaratiomayhavechanged;linkthereasontothescenariothatyouhavebeenprovidedwith.EXAMPLEThequestionscenariomayprovideyouwithaset
8、offinancialstatementsandsomefurtherinformationsuchasde
