Management Accounting (FMA) September 2024–August 2025 Examiner's Report: Key Lessons for ACCA MA Students

Many ACCA MA students lose marks not because they don't know the syllabus, but because of small calculation slips, rushed number entries, and misreading what a question is actually asking. The ACCA MA Examiner's Report 2026 - covering the FMA/MA exam sittings from September 2024 to August 2025 - sets out exactly where candidates went wrong and what the examining team expects from a correct answer.

This MA Examiner Report is also relevant to anyone researching the ACCA F2 Examiner's Report, since MA is the revised name for what was formerly the F2 paper, and both follow the same reporting style. Reviewing this MA examiner's feedback carefully - alongside regular practice - is one of the simplest ways to convert near-misses into passes.

Management Accounting (FMA) September 2024–August 2025 Examiner's Report Download PDF

What Is the ACCA MA Examiner's Report 2026

The ACCA MA Examiner's Report 2026 is an official document published by ACCA after each exam cycle. It is written by the examining team based on patterns seen while marking candidate scripts across the September 2024 to August 2025 period. Rather than just listing right and wrong answers, the report explains the reasoning examiners expect and the misunderstandings that lead candidates astray.

For students searching for the MA Examiner's Report June 2026, this is the most current version available and reflects the same exam format and standards that will apply going forward.

Exam Format Recap

Before diving into the examples, it helps to remember how the MA paper is structured:

• Section A – 35 objective test questions, each worth 2 marks

• Section B – 3 multi-task questions (MTQs), each worth 10 marks

• All questions are compulsory

• The exam is a two-hour, computer-based assessment

• Calculation questions make up roughly half of both sections, and candidates tend to score slightly better on narrative questions than on calculation-based ones

Key Highlights From the ACCA MA Examiners Report

The ACCA MA Examiners Report highlights a few key areas candidates should focus on to improve accuracy and exam performance 

• Number entry questions (where candidates type in a calculated figure rather than choose from options) appear to be a particular weak spot

• Candidates are advised to study the entire syllabus, since the exam draws from all areas rather than a predictable subset

• Careful reading of the scenario is repeatedly flagged as the difference between a correct and incorrect answer

• There is no negative marking, so every question should be attempted

Six Worked Examples That Caused Difficulty

These six worked examples from the ACCA MA Examiners Report cover the areas where candidates commonly faced difficulty, from calculations and number-entry questions to conceptual and performance-measurement topics: 

Example 1 - Coefficient of Variation

Question: Kenmore Co is analysing the salaries of its five directors. The following figures have been calculated for each director:

Calculate the coefficient of variation of the salaries (to 2 decimal places).

The correct answer is 0.14

This type of question requires candidates to use the information in the scenario to calculate and input a correct number entry. These formulae are given on the FMA/MA formula sheet. Here, x is the directors' salaries in $000, and n is the number of directors = 5.

Step 1 - calculate the standard deviation: Add up the (x − x̄)² values: 4 + 169 + 64 + 484 + 9 = 730. Divide this total by n: 730 / 5 = 146. Take the square root of 146: √146 = 12

Step 2 - calculate the mean (average) salary: Add up the total salaries: 90 + 75 + 80 + 110 + 85 = 440. Divide this total by n (5): 440 / 5 = 88

Step 3 - calculate the coefficient of variation: CV = 12 / 88 = 0.136, rounded to two decimal places: 0.14

Example 2 - Cost per Passenger-Kilometre

Question: Corrie Co, a bus operator, uses a single bus to service a small town. The total cost of operating the bus for a typical day is $1,400. The route covers 20 km, and the vehicle makes 10 journeys each day. The vehicle has 35 seats, and at peak times these are full. The peak lasts for 30% of the day. For the remainder of the day, it has an average of only 10 passengers.

Calculate the cost per passenger-kilometre (to two decimal places).

The correct answer is $0.40

This calculation helps a bus operator understand the cost efficiency of its service per passenger transported over a distance, supporting better pricing and operational decisions.

Step 1 - total distance covered: 10 journeys × 20 km = 200 km

Step 2 - average passengers per day: During peak (30% of the day), the bus carries 35 passengers; for the remaining 70%, it carries 10. (0.30 × 35) + (0.70 × 10) = 17.5

Step 3 - total passenger-kilometres: 200 km × 17.5 = 3,500

Step 4 - cost per passenger-kilometre: $1,400 / 3,500 passenger-km = $0.40

Example 3 - Joint and By-Products (True/False)

Question: Select whether each of the following statements regarding joint and by-products is true or false.

1. False. By-products are typically not costed separately; any revenue from by-products is usually subtracted from the joint costs before apportioning costs to the main products.

2. True. Joint products are produced from a common input and have a substantial sales value.

3. False. By-products do have some value, although it is generally lower than that of the main joint products.

4. True. Joint products are identified at the separation point because this is where the production process splits into distinct products, each having significant sales value.

Example 4 - Compound Interest

Question: Consider an investment of $5,000 for two years at an interest rate of 1% per month, compounded monthly.

Calculate the interest receivable at the end of two years (to the nearest $).

The correct answer is $1,349

Step 1 - identify the variables: Principal (P) = $5,000 Monthly interest rate (r) = 1%, so r = 0.01 Number of months (n) = 2 years × 12 months/year = 24 months

Step 2 - apply the compound interest formula: A = P(1 + r)ⁿ A = $5,000(1 + 0.01)²⁴ A = $5,000 × 1.269734 A = $6,348.67

Step 3 - calculate interest earned: Interest = total amount − principal = $6,348.67 − $5,000 = $1,348.67, rounded to the nearest $: $1,349

Example 5 - Actual Profit from Variances

Question: Crovie Co uses standard marginal costing. The following variances were calculated for the last period:

• Sales price variance: $8,000 favourable

• Total variable cost variances: $5,810 favourable

• Fixed overhead expenditure variance: $3,900 adverse

• All other variances were zero

The budget for fixed overhead for the period was $50,000 and the standard contribution from actual sales for the period was $88,000.

Calculate the actual profit for the period.

The correct answer is $47,910

Standard contribution from actual sales is $88,000. The sales price variance was $8,000 favourable, meaning actual contribution was higher than budgeted by this amount. The total variable cost variances were $5,810 favourable, indicating actual variable costs were lower than budgeted. The fixed overhead expenditure variance was $3,900 adverse, meaning actual fixed overheads were higher than budgeted, which negatively impacts profit. Finally, the budgeted fixed overheads of $50,000 for the period are deducted to arrive at actual profit.

Example 6 - Performance Measurement in Non-Profit Organisations

Question: Which of the following would be a PROBLEM when measuring the performance of a non-profit seeking, publicly funded hospital that does not charge for its services at the point of consumption?

(1) Multiple conflicting objectives (2) Measuring the value of outputs

Choices:

1. 1 only

2. 2 only

3. Both 1 and 2

4. Neither 1 nor 2

The correct answer is 3. Both 1 and 2

This is an example of a multiple-choice style question where candidates select one of four options. Both statements are true regarding the problems of measuring performance at this type of hospital:

(1) Multiple conflicting objectives: True, as non-profit organisations often have various goals that may conflict, such as providing quality care while, at the same time, managing costs.

(2) Measuring the value of outputs: True, as the hospital does not charge for its services; it can be challenging to assign a market value to the outputs, making it difficult to measure effectiveness and efficiency.

How Students Can Prepare Using the MA Examiner's Report 2026

Reading the report is only useful if its lessons are actually applied. The examining team's own advice for future candidates includes:

• Study the whole syllabus, since the exam draws on its full breadth rather than a predictable subset

• Practise as many objective test questions as possible, since number entry questions are a recurring weak area

• Read each question carefully before attempting an answer

• Make sure calculations are fully complete before selecting a multiple-choice answer

• Avoid spending too long on any single question that feels difficult

• Attempt every question, since there is no penalty for an incorrect answer

• Sense-check answers for reasonableness before submitting

• Read previous Examiner's Reports as part of ongoing revision

The ACCA MA Examiner's Report 2026 is a practical companion to regular question practice. Working through it alongside past papers on the ACCA Practice Platform can help candidates avoid the same calculation slips and misreadings that cost marks in previous sittings.