F1 Accountant in Business (AB)
THE SECRET TO EXAM SUCCESS
The F1 paper is very broad and requires a fairly rudimentary knowledge of many theories and concepts. It is very important to cover the full syllabus in preparation for this examination. It is fully acknowledged that it is probably impossible to remember every fact or principle encountered, but the relatively high pass rates demonstrate that most candidates are capable of passing with an appropriate level of study.
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.
The syllabus for FAB/F1, Accountant in Business introduces students who may not have a business background, to the business, which as an entity is made up of people and systems which interact with the environment and with each other. The syllabus begins with examining the purpose and types of business which exist, the key stakeholders and the rights and responsibilities that businesses have in connection with them, exploring the external influences that affect the business in its environment, including economic, legal, social and technological factors. The syllabus then examines the structure and functions of business, focusing on corporate governance and the specific accounting related roles in this process, particularly in financial reporting, assurance, control and compliance. The syllabus then introduces key leadership, management and people issues such as effective individual and team behaviour, motivation and personal effectiveness.
The final section of the syllabus examines how behaviour at all levels within business should be underpinned by accepted professional ethics and professional values.
On successful completion of this paper, candidates should be able to:
- Understand the purpose and types of businesses and how they interact with key stakeholders and the external environment
- Understand business organization structure, functions and the role of corporate governance
- Recognize the function of accountancy and audit in communicating, reporting and assuring financial information and in effective financial control and compliance
- Recognize the principles of authority and leadership and how teams and individuals are recruited, managed, motivated and developed
- Understand the importance of personal effectiveness as the basis for effective team and organisational behavior
- Recognize that all aspects of business and finance should be conducted in a manner which complies with and is in the spirit of accepted professional ethics and professional values
- Lectures 20
- Quizzes 2
- Duration 15-25 hrs
- Skill level All levels
- Language English
- Students 15
- Certificate Yes
- Assessments Self
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