Table Of Content

P R A C T I C E & R E V I S I O N K I T PAPER F1 ACCOUNTANT IN BUSINESS In this January 2010 new edition � We discuss the best strategies for revising and taking your ACCA exams � We show you how to be well prepared for the 22010 exams � We give you lots of great guidance on tackling questions � We provide you with three mock exams including the PPilot paper � We provide the AACCA examiner's answers as well as our own to the Pilot Paper as an additional revision aid Our i-Pass product also supports this paper. FOR EXAMS IN 2010 ii First edition 2007 Fourth edition January 2010 ISBN 9780 7517 8046 8 (previous ISBN 9780 7517 6652 3) British Library Cataloguing-in-Publication Data A catalogue record for this book is available from the British Library Published by BPP Learning Media Ltd BPP House, Aldine Place London W12 8AA www.bpp.com/learningmedia Printed in the United Kingdom Your learning materials, published by BPP Learning Media Ltd, are printed on paper sourced from sustainable, managed forests. All our rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without the prior written permission of BPP Learning Media Ltd. We are grateful to the Association of Chartered Certified Accountants for permission to reproduce past examination questions. The answers to past examination questions have been prepared by BPP Learning Media Ltd. © BPP Learning Media Ltd 2010 Contents iii Contents Page Finding questions Question index.................................................................................................................................................................iv Using your BPP Learning Media Practice and Revision Kit......................................... vi Passing F1 Revising F1.....................................................................................................................................................................vii General exam support from BPP Learning Media............................................................................................................vii Tackling multiple choice questions................................................................................................................................viii Tackling objective test questions......................................................................................................................................ix Exam information..............................................................................................................................................................x The computer based examination......................................................................................................................................x Questions and answers Multiple choice questions.................................................................................................................................................3 Objective test questions ..................................................................................................................................................35 Answers to multiple choice questions.............................................................................................................................67 Answers to objective test questions.................................................................................................................................89 Exam practice Mock exam 1 � Questions ............................................................................................................................................................113 � Answers...............................................................................................................................................................123 Mock exam 2 � Questions ............................................................................................................................................................131 � Answers...............................................................................................................................................................143 Mock exam 3 (Pilot paper) � Questions ............................................................................................................................................................153 � Answers...............................................................................................................................................................163 ACCA examiner's answers � Pilot paper...........................................................................................................................................................167 Review form & free prize draw iv Contents Question index The headings in this checklist/index indicate the main topics of questions. The questions in Section 1 and Section 19 cover material from Chapters 1a and 1b in the Study Text. Time Page number Marks allocation Mins Question Answer Multiple choice questions Part A: Business organisational structure, governance and management 1 Business organisation and structure 25 33 3 67 2 Information technology and systems 15 20 5 68 3 Influences on organisational culture 19 25 7 69 4 Ethical considerations 15 20 8 70 5 Corporate governance and social responsibility 16 21 10 71 Part B: Key environmental influences 6 The macro-economic environment 23 31 11 72 7 The business environment 23 31 13 73 Part C: History and role of accounting 8 The role of accounting 21 28 15 74 Part D: Specific functions of accounting and internal financial control 9 Control, security and audit 15 20 17 75 10 Identifying and preventing fraud 17 23 18 76 Part E: Leading and managing individuals and teams 11 Leading and managing people 20 27 20 77 12 Individuals, groups and teams 17 23 21 78 13 Motivating individuals and groups 20 27 23 79 Part F: Recruiting and developing effective employees 14 Personal effectiveness and communication 20 27 25 80 15 Recruitment and selection 19 25 26 82 16 Diversity and equal opportunities 15 20 28 83 17 Training and development 20 27 29 83 18 Performance appraisal 15 20 31 85 Contents v Time Page number Marks allocation Mins Question Answer Objective test questions Part A: Business organisational structure, government and management 19 Business organisation and structure 21 28 35 89 20 Information technology and systems 15 20 37 90 21 Influences on organisational culture 15 20 39 92 22 Ethical considerations 15 20 40 93 23 Corporate governance and social responsibility 16 21 42 94 Part B: Key environmental influences 24 The macro-economic environment 17 23 44 94 25 The business environment 15 20 46 96 Part C: History and role of accounting 26 The role of accounting 15 20 47 97 Part D: Specific functions of accounting and internal financial control 27 Control, security and audit 15 20 49 98 28 Identifying and preventing fraud 15 20 51 99 Part E: Leading and managing individuals and teams 29 Leading and managing people 17 23 52 100 30 Individuals, groups and teams 15 20 54 101 31 Motivating individuals and groups 15 20 55 102 Part F: Recruiting and developing effective employees 32 Personal effectiveness and communication 17 23 57 103 33 Recruitment and selection 16 21 58 104 34 Diversity and equal opportunities 10 13 60 106 35 Training and development 15 20 61 106 36 Performance appraisal 15 20 63 107 Mock exam 1 Paper-based exam Mock exam 2 Computer-based exam Mock exam 3 (Pilot paper) vi Using your BPP Learning Media Practice and Revision Kit Using your BPP Learning Media Practice and Revision Kit Tackling revision and the exam You can significantly improve your chances of passing by tackling revision and the exam in the right ways. Our advice is based on feedback from ACCA examiners. � We focus on Paper F1; we discuss revising the syllabus, how to approach different types of question and ways of obtaining easy marks Selecting questions We provide a full question index to help you plan your revision Making the most of question practice At BPP Learning Media we realise that you need more than just questions and simple answers to get the most from your question practice. We include workings and explanations to show you how we arrived at the right answer and why the wrong answers were incorrect. Attempting mock exams There are three mock exams that provide practice at coping with the pressures of the exam day. We strongly recommend that you attempt them under exam conditions. Mock exam 1 reflects the question styles and syllabus coverage of the paper-based exam. Mock exam 2 reflects what you will see in a computer-based exam. Mock exam 3 is the Pilot paper. To help you get the most out of doing these exams, we provide help with each answer. The examiner's answers to the Pilot paper are included at the back of the kit. Using your BPP Learning Media products This Kit gives you the question practice and guidance you need in the exam. Our other products can also help you pass: � Learning to Learn Accountancy gives further valuable advice on revision � Passcards provide you with clear topic summaries and exam tips � Success CDs help you revise on the move � i-Pass CDs offer tests of knowledge against the clock You can purchase these products by visiting www.bpp.com/mybpp. You can view demonstrations of i-Learn and i-Pass products by visiting www.bpp.com/acca/study- materials/#ilearn. Scroll down the page until you find the sections for i-Learn and i-Pass and click on the appropriate 'View demo' button. Passing F1 vii Revising F1 General exam support from BPP Learning Media BPP Learning Media is committed to giving you the best possible support in your quest for exam success. With this in mind, we have produced guidance on how to revise and techniques you can apply to improve your chances of passing the exam. This guidance can be found on the BPP Learning Media web site at the following link: www.bpp.com/acca/examtips/Revising-for-ACCA-exams.doc A paper copy of this guidance is available by e-mailing