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F1 Accountant in Business

An Introduction

What is F1 all about?

• A knowledge level paper testing comprehension of material

• Learning theories and facts with a small amount of application

• Used as a building block to many of the later papers

F1 Accountant in Business

Syllabus areas (Dec 2010 and June 2011)

A Business organisation structure, governance and management

B Key environmental influences and constraints on business and accounting

C History and role of accounting in business

D Specific functions of accounting and internal financial control

E Leading and managing individuals and teams

F Recruiting and developing effective employees

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F1 Exam format

F1 is assessed by a two hour multiple choice examination.

The examination consists of 40 questions worth 2 marks (each with 4 possible


responses) and 10 questions worth 1 mark (with 2 possible responses)

Questions may be fact-based or asking students to apply knowledge to a brief


scenario

How to pass F1

• Understand the theoretical models used in each syllabus area

• Read the course notes and any study texts

• Complete at least two practice exams under exam conditions before tackling the
real exam

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