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Foundations in Accountancy FAB / ACCA Paper F1
Accountant in Business
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comprehensively reviewed by the ACCA examining targeted at Foundations in Accountancy exams from in B
team. This unique review ensures that the questions, 1 September 2016 to 31 August 2017 and contains: u
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Foundations in
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ACCOUNTANT IN BUSINESS
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Welcome to BPP Learning Media's Practice & Revision Kit for FAB. In this Practice &
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Revision Kit, which has been reviewed by the ACCA examination team, we:
Include Do you know? Checklists to test your knowledge and understanding
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of topics
Provide you with two mock exams including the Specimen Exam June 2014
Provide the ACCA’s exam answers to the Specimen Exam June 2014 as an
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additional revision aid
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FOR EXAMS FROM 1 SEPTEMBER 2016 TO 31 AUGUST 2017
FAB/F1 ACCOUNTANT IN BUSINESS
First edition May 2011
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ii
CONTENTS
Contents
Page
Finding questions
Question index..............................................................................................................................v
Helping you with your revision.......................................................................................................viii
Using your BPP Practice & Revision Kit...........................................................................................ix
Passing the FAB/F1 exam...............................................................................................................x
Approach to examining the syllabus................................................................................................xi
The Computer Based Examination.................................................................................................xii
Tackling Multiple Choice Questions................................................................................................xiii
Using your BPP products..............................................................................................................xiv
Questions and answers
Questions....................................................................................................................................3
Answers..................................................................................................................................115
Exam practice
Mock exam 1 – Specimen Exam June 2014
Questions........................................................................................................................167
Answers..........................................................................................................................183
ACCA’s exam answers...............................................................................................................191
Mock exam 2 – Specimen Exam June 2014
Questions........................................................................................................................197
Answers..........................................................................................................................211
Review form
iii
FAB/F1 ACCOUNTANT IN BUSINESS
iv
QUESTION INDEX
Question index
Time
Page
allocation
Marks Mins Questions Answers
Part A: The business organisation, its stakeholders and the
external environment
Business organisations and their stakeholders
Questions 1.1 to 1.8 13 16 5 115
The business environment
Questions 2.1 to 2.17 29 35 6 116
The macro-economic environment
Questions 3.1 to 3.14 23 28 8 117
Micro-economic factors
Questions 4.1 to 4.25 42 50 11 119
Section A MTQs
Questions 5.1 to 5.6 24 29 14 120
Part B: Business organisation structure, functions and
governance
Business organisation, structure and strategy
Questions 6.1 to 6.10 16 19 20 121
Organisational culture and committees
Questions 7.1 to 7.20 33 40 21 122
Corporate governance and social responsibility
Questions 8.1 to 8.12 19 23 25 124
Section B MTQs
Questions 9.1 to 9.6 24 29 27 125
Part C: Accounting and reporting systems, controls and
compliance
The role of accounting
Questions 10.1 to 10.26 43 52 32 126
Control, security and audit
Questions 11.1 to 11.14 23 28 37 128
Identifying and preventing fraud
Questions 12.1 to 12.16 27 32 39 130
Section C MTQs
Questions 13.1 to 13.6 24 29 41 131
v
FAB/F1 ACCOUNTANT IN BUSINESS
Time
Page
allocation
Marks Mins Questions Answers
Part D: Leading and managing individuals and teams
Leading and managing people
Questions 14.1 to 14.20 33 40 47 132
Recruitment and selection
Questions 15.1 to 15.18 30 36 50 134
Diversity and equal opportunities
Questions 16.1 to 16.10 16 19 52 136
Individuals, groups and teams
Questions 17.1 to 17.17 28 34 54 137
Motivating individuals and groups
Questions 18.1 to 18.17 28 34 57 138
Training and development
Questions 19.1 to 19.17 28 34 60 140
Performance appraisal
Questions 20.1 to 20.13 22 26 63 142
Section D MTQs
Questions 21.1 to 21.6 24 29 65 143
Part E: Personal effectiveness and communication in
business
Personal effectiveness and communication
Questions 22.1 to 22.19 31 37 71 145
Section E MTQs
Questions 23.1 to 23.6 24 29 74 146
Part F: Professional ethics in accounting and business
Ethical considerations
Questions 24.1 to 24.20 33 40 79 147
Section F MTQs
Questions 25.1 to 25.6 24 29 82 148
vi
QUESTION INDEX
Time
Page
allocation
Marks Mins Questions Answers
Mixed Banks
Mixed Bank 1: Questions 26.1 to 26.23 38 46 84 150
Mixed Bank 2: Questions 27.1 to 27.24 40 48 88 152
Mixed Bank 3: Questions 28.1 to 28.24 40 48 92 155
Mixed Bank 4: Questions 29.1 to 29.24 40 48 96 155
Mixed Bank 5: Questions 30.1 to 30.24 40 48 100 156
Mixed Bank 6: Questions 31.1 to 31.23 38 46 104 158
Mixed Bank 7: Questions 32.1 to 32.25 42 50 108 159
Mock exams
Mock exam 1 (Specimen Exam June 2014) 100 120 167 183
Mock exam 2 100 120 197 211
vii
FAB/F1 ACCOUNTANT IN BUSINESS
Helping you with your revision
BPP Learning Media – ACCA Approved Content Provider
As an ACCA Approved Content Provider, BPP Learning Media gives you the opportunity to use revision
materials reviewed by the ACCA examination team . By incorporating the ACCA examination team’s
comments and suggestions regarding the depth and breadth of syllabus coverage, the BPP Learning
Media Practice & Revision Kit provides excellent, ACCA-approved support for your revision.
Selecting questions
We provide signposts to help you plan your revision.
• A full question index
Attempting mock exams
There are two 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 is the Specimen
Exam June 2014. Mock exam 2 reflects the question styles and syllabus coverage of the exam.
viii
