ACCA F1 flashcards – set 1

Learn or revise key terms and concepts for your ACCA exams using OpenTuition interactive ACCA Flashcards

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See also ACCA F1 Flashcards: Set 1 | Set 2 | Set 3 | Set 4


What are the four variables in Handy’s best fit theory?

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The leader, the task, the subordinates and the environment.

What are Honey and Mumford’s four learner types?

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Theorists: like to understand.
Reflectors: observe and consider.
Activists: hands-on learners.
Pragmatists: motivated to learn if they perceive a practical use.

What are the employee’s duties under health and safety legislation?

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They have to take reasonable care of themselves and others; They must allow the employer to carry out the duties in relation to safety; They mustn’t interfere intentionally or recklessly with machinery; They must inform the employer of any situation which they think is a danger; They have to use equipment properly, making use of all safety features.

Describe proportional tax.

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A proportional tax takes exactly the same proportion of income tax from all levels of income.

What is frictional unemployment?

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People who are temporarily unemployed as they move jobs.

Describe training, development and education

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Training is very specific and is needed for your current role.
Development is much less specific; it’s needed at some time in the future.
Education is knowledge acquired gradually through learning and instruction. It might or might not be work-related.

Describe Fiedler’s approach to leadership

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Effectiveness depends on the leadership style (psychologically close or distant) and situational favourableness ie the degree to which the situation gives the leader control and influence.

What are the three matters of concern in Adair’s action-centred leadership theory?

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Concern for individuals, concern for the group, concern for the task.

What management level would you expect to deal with information that is often forward-looking, often external and often highly summarised?

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This information would typically be used by the strategic level of management

What is an intranet?

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An intranet is an internal internet. Similar to a LAN, but access is through an internet browser.

What is an extranet?

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An extranet is where one organisation’s computer network has access to another organisation’s network.

Describe a WAN

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A WAN is a wide area network making use of telecommunication systems to network individual computers and local area networks over a wide geographical area.

Describe a LAN.

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A LAN is a local area network using specially installed cables to join computers together and with peripheral devices such as printers.

What is an executive information system (EIS)?

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These provide information to top management. Typically and EIS has access to external information, will allow ‘drilling down’ to more detail, will be flexible and will make use of graphics, such as bar charts.

What is a decision support system (DSS)?

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A DSS helps and supports people making decisions. For example there is no right or wrong way of deciding what next year’s budget should be: it’s a process which depends on judgment and experience. However, a spreadsheet where you set up a budget is going to be extremely useful in helping you reach a conclusion about what next year’s budget should be.

What is a management information system (MIS)?

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A MIS produces information which is useful for management for making decisions. For example, aged receivables listings and slow-moving inventory reports.

What is a transaction processing system (TPS)?

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A TPS processes transactions such as sales, wages and salaries. It is essentially just automation of what had been done by armies of accountants.
There is nothing very clever about a TPS, but it removes a lot of repetitive manual calculation and processing, speeds up processing, increases accuracy and saves costs.

It is sometimes said that information should comply with the acronym ‘ACCURATE’.
What, typically, do these letters stand for?

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* Accurate
* Complete
* Cost-beneficial
* Understandable/user-targeted
* Relevant
* Adaptable/authoritative
* Timely,
* Easy to use.

What is the ‘informal organisation’?

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It is the part of the organisation that has not been designed by management and which management might not know about: friendships, likes/dislikes, personal ambitions, alliances, short-cuts, cover-ups.

What is the ‘formal organisation’?

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It is the part of the organisation that has been designed by management and which management knows about: organisation charts, procedures manuals, mission statements, plans, staff appraisals.

Name five advantages to decentralisation.

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Motivation, spreading decision-making load and leaving more time ofr top managers to make the important decisions, faster decisions, local decisions, greater expertise of the decision maker, training and assessment.

Describe a wide flat structure in terms of management layers and span of control.

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Relatively few management layers each with relatively wide spans of control.

Describe a tall narrow structure in terms of management layers and span of control.

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Many management layers and small spans of control.

Organisations are often divided into three layers, each layer having different responsibilities and planning horizons. What are these three layers?

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Strategic, tactical, operational.

What are the five parts of Mintzberg’s diagrams of organisational structures?

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Strategic apex, middle line, technostructure, support, operating core.

What is a matrix structure?

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A structure that can, for example, be organised by project and function. Thus a person can report to his/her functional manager and project manager.

What is a functional business structure?

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The business is organised by function: sales, manufacturing, accounting, IT etc. Each function is a separate department with a departmental head.

What is an entrepreneurial business structure?

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A simple organisation with essentially just the boss and the workers.

What is the name of a system which receives inputs from and sends outputs to its environment?

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An open system

What is the name of a system which receives no inputs from, or sends no outputs to, its environment?

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A closed system

What separates an organisation from its environment?

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A boundary

Define what is meant by an ‘organisation’

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An organisation is a social arrangement which pursues collective goals, which controls its own performance and which has a boundary separating it from its environment.


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