To those not in the know, through put accounting might appear to be accounting jargon used to baffle the general public. Yet, this is a description of an up to date, primary costing method, used by companies to identify and optimise the throughput of business goals and assit the management of performance and decision making. Everyday methodologies such as this and approaches such as backflush accounting, a costing tool used by businesses with a “just in time” model, form part of the ACCA’s (Association of Chartered Certified Accountants) internationally accredited F5 paper on performance management accounting.

This is a global organisation and has been running for more than a century. Its principal aim is to provide business relevant qualifications based on international accounting standards which will be recognised in 170 countries. In addition, the body seeks to promote the highest professional and ethical governance standards, advance public interests and be a global leader in the accountancy profession. The organisation has a network of 83 offices worldwide, 140,000 members plus 404,000 students. Of all the members and students some 72% are to be found outside the UK, with 60% of members based in the corporate arena.  

All types of business require individuals who are able to understand and control finance. Everything required for success in this area, in terms of skills and knowledge, are provided by the ACCA. There are a number of different ways to study the course which is open to virtually anybody of any age, with or without a degree. The subject area is tested by way of fourteen examinations, a separate module on professional ethics plus a practical element. The exams are made up of nine, mandatory “fundamental” papers plus five professional papers.

Performance management accounting, F5 paper is one of the fundamental papers. Even though the ACCA website is crammed with industry updates, general information and qualification based content, the F5 paper is afforded a microsite all of its own. In effect the site provides a “one stop shop” for students of the F5 paper. Ranging from an overview of each of the five syllabus areas, including detailed explanations of quantitative budgeting methodology, to self-test activities, examiner reports and technical articles on exam technique, the site covers every base.   

Professional management accountants are in demand in all sectors throughout the world. An ACCA qualification delivers not only the knowledge and skills for a career in this field but also a truly global passport to opportunities in management accounting.