2015 ACCA F1 Re vision kit BPP. pdf

241 Pages·2014·3.7 MB·English

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FIA & ACC A FIA
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About BPP Learning Media C p
ACCOUNTANT IN BUSINESS
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BPP Learning Media is dedicated to supporting aspiring business professionals with top quality learning material as they study for s
demanding professional exams, often whilst working full time. BPP Learning Media’s commitment to student success is shown by
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our record of quality, innovation and market leadership in paper-based and e-learning materials. BPP Learning Media’s study materials
are written by professionally-qualified specialists who know from personal experience the importance of top quality materials for ACC A
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exam success.
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BPP Learning Media is the sole ACCA Platinum Approved Learning Partner - content. E A b
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This Practice & Revision Kit has been reviewed by the examiner to ensure that it provides full coverage of the syllabus and
study guide for FIA FAB Accountant in Business and ACCA Paper F1 Accountant in Businessof the ACCA’s Foundations in Accountancy d
qualifications.
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When you have worked through it you will be ready to tackle the mock exams at the end of the Kit and compare your answers
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Targeted at FIA exams from February 2014, it contains:
n DO YOU KNOW? Checklists to test your knowledge of Accountant in Business topics a
n A bank of exam-standard MCQs with answers, covering the syllabus
n Two mock exams including the FAB/F1 pilot paper c
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0845 0751 100(within the UK)or [phone](from overseas), email [email protected] visit our website KITE & FOR EXAMSe FROM FEBRUARY 2014
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NOVEMBER 2013 FEBRUARY 2014FROMFOR EXAMS //fr
UK £15.00
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PAPER F1 a
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Welcome to BPP Learning Media's Practice and Revision Kit for FAB. In this, the
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only FAB/F1 Practice and Revision Kit to be reviewed by the examiner:
 We include Do you know? Chuecklists to test your knowledge and S
understanding of topics
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 We provide you with twso mock exams including the Specimen exam I
 We provide the ACCA examiner’s answers as well as our own to the
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Specimen exam as an additional revision aid
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BPP's i-Pass product also supports this paper and is a vital tool if you are taking the
computer based exacm.

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FIA FAB and ACCA Paper F1 are examined under the same syllabus and study guide.
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pFOR EXAMS FROM FEBRUARY 2014 TO AUGUST 2015
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FAB/F1 ACCOUNTANT IN BUSINESS /
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First edition May 2011
A note about copyright o
Third edition November 2013
Dear Customer
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ISBN 9781 4453 7033 0
What does the little © mean and why does it matter?
(Previous ISBN 9781 4453 9976 8)
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e-ISBN 9781 4453 7068 2
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Breach of copyright is a form of theft – as well being a
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With current technology, things might seem a bit hazy
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past examination quesctions. The suggested
solutions in the exam answer bank have been
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prepared by BPP Learning Media Ltd, except
where otherwise stated.
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BPP Learning Media Ltd
2013
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CONTENTS
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Contents o
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Finding questions
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Question index..............................................................................................................................v
Helping you with your revision.............................................................................s.........................viii
Using your BPP Practice and Revision Kit.......................................................g................................ix
Passing the FAB/F1 exam...............................................................................................................x
Approach to examining the syllabus..........................................................o.......................................x
The Computer Based Examination..................................................................................................xi
Tackling Multiple Choice Questions................................................................................................xii
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Using your BPP products.................................................................b.............................................xiii
Questions and answers
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Questions.............................................................................l.......................................................3
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Answers..................................................................................................................................113
Exam practice i
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Mock exam 1 (Specimen exam)
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 Questions........................................................................................................................163
 Answers..........................................................................................................................179
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 ACCA examiner’s answers..................................................................................................185
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Mock exam 2
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 Questions........................................................................................................................193
 Answers..........................................................................................................................207

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Review form
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FAB/F1 ACCOUNTANT IN BUSINESS /
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QUESTION INDEX
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Question index
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Marks Mins Questions Answers
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Part A: The business organisation, its stakeholders and the
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external environment
Business organisations and their stakeholders s
Questions 1.1 to 1.8 13 16 g5 113
The business environment
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Questions 2.1 to 2.17 29 35 6 114
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The macro-economic environment b
Questions 3.1 to 3.14 23 .28 8 115
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Micro-economic factors a
Questions 4.1 to 4.25 42 50 11 117
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Section A MTQs
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Questions 5.1 to 5.5 20 24 14 118
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Part B: Business organisation, functions and governance
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Business organisation, structure and strategy
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Questions 6.1 to 6.10 16 19 19 119
Organisational culture and committees
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Questions 7.1 to 7.20 33 40 20 120
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Corporate governance and social responsibility
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Questions 8.1 to 8.12 19 25 24 122
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Section B MTQs
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Questions 9.1 to 9.5 20 24 26 123
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Part C: Accounting and reporting systems, controls and
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The role of accounting c
Questions 10.1 to 10.a26 43 52 31 124
Control, security and audit
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Questions 11.1 to 11.14 23 28 35 126
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Identifying and preventing fraud
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Questions 12.1 to 12.16 27 32 37 128
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Sect/ion C MTQs
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Questions 13.1 to 13.5 20 24 40 129
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FAB/F1 ACCOUNTANT IN BUSINESS /
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Time o
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Part D: Leading and managing individuals and teams t
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Leading and managing people
Questions 14.1 to 14.20 33 40 45 p 130
Recruitment and selection s
Questions 15.1 to 15.18 30 36 g48 132
Diversity and equal opportunities
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Questions 16.1 to 16.10 16 19 50 133
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Individuals, groups and teams b
Questions 17.1 to 17.17 28 34 52 134
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Motivating individuals and groups
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Questions 18.1 to 18.17 28 34 55 136
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Training and development r
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Questions 19.1 to 19.17 28 34 57 138
Performance appraisal t
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Questions 20.1 to 20.13 22 26 60 140
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Section D MTQs
Questions 21.1 to 21.5 20 24 63 141
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Part E: Personal effectiveness and communication in
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Personal effectiveness and communication u
Questions 22.1 to 22.19 31 37 69 142
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Section E MTQs s
Questions 23.1 to 23.5 a 20 24 71 144
Part F: Professional ethics in accounting and business
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Ethical considerations
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Questions 24.1 to 24.20 33 40 76 145
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Section F MTQs
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Questions 25.1 to 25.5 20 24 79 146
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Mixed banks
Mixed barnk 1: Questions 26.1 to 26.23 38 46 81 147
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Mixed bank 2: Questions 27.1 to 27.24 40 48 85 149
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Mi/xed bank 3: Questions 28.1 to 28.24 40 48 89 152
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pMixed bank 4: Questions 29.1 to 29.24 40 48 93 153
Mixed bank 5: Questions 30.1 to 30.24 40 48 97 154
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QUESTION INDEX
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Marks Mins Questions Answers
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Mixed bank 6: Questions 31.1 to 31.23 38 46 101 t155
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Mixed bank 7: Questions 32.1 to 32.25 42 50 106 157
Mock exams p
Mock exam 1 (Specimen exam) 100 120 1s63 179
Mock exam 2 100 120 g193 207

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FAB/F1 ACCOUNTANT IN BUSINESS
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Helping you with your revision
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BPP Learning Media – Approved Learning Partner – content
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As ACCA’s Approved Learning Partner – content, BPP Learning Media gives you the opportunity to use
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examiner-reviewed revision materials for exams from February 2014 to August 2015. By incorporating
the examiner’s comments and suggestions regarding syllabus coverage, the BPP Learning Media
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Practice and Revision Kit provides excellent, ACCA-approved support for your revision.
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Selecting questions
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We provide signposts to help you plan your revision.
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 A full question index listing questions that cover each part of the syllabus, so that you can locate
the questions that provide practice on key topics, and see the different ways in which they might
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be tested
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Attempting mock exams .
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There are two mock exams that provide practice at coping witha the pressures of the exam day. We
strongly recommend that you attempt them under exam conditions. Mock exam 1 is the Specimen
exam. Mock exam 2 reflects the question styles and syllabuis coverage of the exam.
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USING YOUR PRACTICE AND REVISION KIT /
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Using your BPP Practice and Revision Kit
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Aim of this Practice and Revision Kit
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To provide the practice to help you succeed in both the paper based and computer based examtinations
for Paper FAB/F1 Accountant in Business. o
To pass the examination you need a thorough understanding in all areas covered by the psyllabus and
teaching guide.
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Recommended approach
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 Make sure you are able to answer questions on everything specified by the syllabus and teaching
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guide. You cannot make any assumptions about what questions may come up on your paper.
The examiners aim to discourage 'question spotting'.
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 Learning is an active process. Use the DO YOU KNOW? Checklbists to test your knowledge and
understanding of the topics covered in FAB/F1 Accountant in Business by filling in the blank
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spaces. Then check your answers against the DID YOU KNOW? Checklists. Do not attempt any
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questions if you are unable to fill in any of the blanks - go back to your BPP Interactive Text and
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revise first.
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 When you are revising a topic, think about the mistakes that you know that you should avoid by
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writing down POSSIBLE PITFALLS at the end of each DO YOU KNOW? Checklist.
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 Once you have completed the checklists successfully, you should attempt the questions on that
topic. Each question is worth 1, 2 or 4 markts and carries with it a time allocation of 1.2 minutes
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 Once you have completed all of the qumestions in the body of this Practice & Revision Kit, you
should attempt the MOCK EXAMS under examination conditions. Check your answers against
our answers to find out how well you did.
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