You can start your journey with ACCA if you have:
Five secondary school qualifications (two A-Levels and three GCSEs or equivalent) – including English and Math.
To develop knowledge and understanding of the business environment and the influence this has on how organizations and accountants operate, and of the role of the accountant and other key business functions in contributing to an efficient, effective and ethical organization, and to build knowledge and understanding of the basic principles of effective management.
WHAT IF YOU HAVE A DEGREE?
If you have a recognized and relevant finance or accounting degree from an ACCA-accredited university, you may not have to take all of the exams on your journey to membership. We call this “getting exemptions”.
Even if you didn’t study at an accredited university, you may still be eligible for exemptions – depending on what you’ve already studied.
WHAT IF YOU DON’T HAVE THE QUALIFICATIONS WE ASK FOR?
You can still join us – but you’ll start your ACCA journey at our Foundations in Accountancy level. This will give you the base you need to learn more – and you’ll get our Diploma in Accounting and Business when you pass. Then you can start your journey to gaining the ACCA Qualification.
And because of what you’ll learn in your Diploma, you won’t have to take the first three exams – you’ll start at F4.
To introduce knowledge and understanding of the business and its environment and the influence this has on how organizations 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 organization and its people and systems.
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 organizational 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.
The business organization, its stakeholders and the external environment
The purpose and types of business organization
Stakeholders in business organizations
Political and legal factors affecting business
Micro economic factors
Social and demographic factors
Business organisational structure, functions and governance
The formal and informal business organisation
Business organisational structure and design
Organisational culture in business
Committees in business organisations
Governance and social responsibility in business
Accounting and reporting systems, controls and compliance
The relationship between accounting and other business functions
Accounting and finance functions within business organisations
Principles of law and regulation governing accounting and auditing
The sources and purpose of internal and external financial information, provided by business
Financial systems, procedures and related IT applications
Internal controls, authorisation, security of data and compliance within business
Fraud and fraudulent behaviour and their prevention in business, including money laundering.
Leading and managing individuals and teams
Leadership, management and supervision
Recruitment and selection of employees
Individual and group behaviour in business organisations
Team formation, development and management
Motivating individuals and groups
Learning and training at work
Review and appraisal of individual performance.
Personal effectiveness and communication
Personal effectiveness techniques
Consequences of ineffectiveness at work
Competence frameworks and personal development
Sources of conflicts and techniques for conflict resolution and referral
Communicating in business.
Professional ethics in accounting and business
Fundamental principles of ethical behavior
The role of regulatory and professional bodies in promoting ethical and professional standards in the accountancy profession
Corporate codes of ethics
Ethical conflicts and dilemmas
F1 (Full Exam) Questions) | F1 (Full Exam) Answers
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ACCA F1 Practice Questions
F1 Mock Exam