ACCA F1 Accountant in Business - 2010 - Study text - Emile Woolf Publishing
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ACCA
F1 Study Text
Accountant in Business
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ACCA
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ACCA
Paper
F1
Accountant in Business
Publishing
Publishing
Welcome to Emile Woolf‘s study text for
Paper F1 Accountant in Business which is:
Written by tutors
Comprehensive but concise
In simple English
Used around the world by Emile Woolf Colleges including
China, Russia and the UK
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Acknowledgements
Thesyllabusandstudyguidearerep roducedbykindpermissionoftheAssociationof
CharteredCertifiedAccountants.
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Paper F1
AccountantinBusiness
c
Contents
Page
Syllabus and study guide 1
Chapter 1: The structure of business organisations 15
Chapter 2: Marketing. Information technology and information systems 57
Chapter 3: Culture, ethics, governance and social responsibility 85
Chapter 4: Environmental influences and constraints 129
Chapter 5: History and role of accounting in business 167
Chapter 6: Functions of accounting and internal financial control 199
Chapter 7: Management and leadership 233
Chapter 8: Individual and group behaviour: team management 267
Chapter 9: Motivation 283
Chapter 10: Recruitment and selection 303
Chapter 11: Individual effectiveness and effective communication 347
Chapter 12: Learning, training and development and performance appraisal 375
Practice questions 409
Answers 429
Index 465
iv
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© EWP Go to www.emilewoolfpublishing.com for Q/As, Notes & Study Guides 1
Paper F1
AccountantinBusiness
S
Syllabus and study guide
Aim
To introduce knowledge and understanding of the business and its environment
and the influence this has on how organisations are structured and on the role of the
accounting and other key business functions in contributing to the efficient, effective
and ethical management and development of an organisation and its people and
systems.
Main capabilities
On successful completion of this paper, candidates should be able to:
A Explain how the organisation is structured, governed and managed by – and
on behalf of – its external, connected and internal stakeholders
B Identify and describe the key environmental influences and constraints on
how the business operates in general and how these affect the accounting
function in particular
C Describe the history, purpose, and position of accounting in the organisation
and the roles of other functional areas
D Identify and explain the functions of accounting systems and internal controls
in planning, monitoring and reviewing performance and in preventing fraud
and business failure
E Recognise the principles of authority and leadership and how teams and
individuals behave and are managed, disciplined and motivated in pursuit of
wider departmental and organisational aims and objectives
F Recruit and develop effective employees, using appropriate methods and
procedures, while developing constructive relationships through effective
communication and interpersonal skills
Paper F1: Accountant in business
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Rationale
The Accountant in Business syllabus acts as an introduction to business structure and
purpose, and to accountancy as a central business function. The syllabus
commences with an examination of the structure and governance of businesses,
briefly introducing ethics. It then looks at business in the context of its environment,
including economic, legal, and regulatory influences on such aspects as governance,
employment, health and safety, data protection and security. From there, it focuses
on accounting, how it originated, how it is organised, its critical importance in
business planning and control, and how it affects other business functions.
The syllabus then introduces students to the accounting profession and to certain
aspects of the regulatory framework as they affect accounting, auditing and
governance. The syllabus also covers accounting, auditing, and internal control as
specific business functions and how these should be supported by effective
management information systems. Finally, the syllabus introduces key management
and people issues such as individual and team behaviour, leadership, motivation
and personal effectiveness.
Syllabus and study guide
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Syllabus
A Business organisation structure, governance and management
1 The business organisation and its structure
2 The formal and informal business organisation
3 Organisational culture in business
4 Stakeholders of business organisations
5 Information technology and information systems in business
6 Committees in the business organisation
7 Business ethics and ethical behaviour
8 Governance and social responsibility in business
B Key environmental influences and constraints on business and
accounting
1 Political and legal factors
2 Macro-economic factors
3 Social and demographic factors
4 Technological factors
5 Competitive factors
C History and role of accounting in business
1 The history and function of accounting in business
2 Law and regulation governing accounting
3 Financial systems, procedures and IT applications
4 The relationship between accounting and other business functions
D Specific functions of accounting and internal financial control
1 Accounting and finance functions within business
2 Internal and external auditing and their functions
3 Internal financial control and security within business organisations
4 Fraud and fraudulent behaviour and their prevention in business.
E Leading and managing individuals and teams
1 Leadership, management and supervision
2 Individual and group behaviour in business organisations
3 Team formation, development and management
4 Motivating individuals and groups
F Recruiting and developing effective employees
1 Recruitment and selection, managing diversity, and equal opportunity.
2 Techniques for improving personal effectiveness at work and their
benefits
3 Features of effective communication
4 Training, development, and learning in the maintenance and
improvement of business performance
5 Review and appraisal of individual performance
Paper F1: Accountant in business
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Approach to examining the syllabus
The syllabus is assessed by a two hour paper-based or computer-based examination.
Questions will assess all parts of the syllabus and will test knowledge and some
comprehension or application of this knowledge. The examination will consist of 40
two mark questions, and 10 one mark questions.