ACCA P1 Key to success

Nature of the ACCA P1 paper

ACCA P1 Paper – Governance, Risk and Ethics – aims to develop a student’s knowledge and the skills to be able to exercise professional judgement and ethics in practical situations which they will inevitably face as qualified accountants.
Add in the elements of a thorough knowledge and appreciation of internal controls, corporate responsibility and the management of risk and there you have a summary of the nature of the (relatively new, 2007) paper P1.

Structure of the ACCA P1 paper

Question 1 is a compulsory 50 mark question – between 500 and 700 words of information!  It has always been the case that question 1 is sub-divided into multiple parts ( typically 5 or 6 ) and always includes an element of ethics

The remaining 50 marks is allocated to a choice of 2 from 3 questions worth 25 marks each.

Emphasis of the ACCA P1 exam

A clue about the emphasis of the exam is in the title! The emphasis in the exam is on corporate governance, the recognition and management of risk, and the application of ethical mores in the process of decision making.

How to pass ACCA P1 exam

Use the OpenTuition ACCA P1 lectures together with the P1 course notes. Try to read a study text, at least once, but don’t try to continue in any one session once your mind has started wandering. Do something else!

Practice as many past exam questions as you can.

The P1 examiner has, last year, suggested that he could well ask a question which involves simple arithmetic calculations so don’t forget to take your calculator  into the exam room.

See also:

P1 Governance, Risk & Ethics Forums  post your questions to get help from other students

Ask the Tutor – P1 Exams

Paper P1 Syllabus and Study Guide
P1 Past exam papers
P1 Examiners’ report
P1 Technical articles
P1 Examiner’s approach interview
P1 Examiner’s approach article 
P1 Examiner’s study guide article part 1 
P1 Examiner’s study guide article part 2
P1 Examiner’s analysis interview
P1 Pass rates
Professional Ethics Module

Comments

    • Avatar of MikeLittle says

      You think the notes are too much!? Try reading a study text!

      Have you tried listening to the lectures on this site?

      “Do I need to understand the themes or even the points?” Is this really a question from an ACCA P1 student? Of course you need to understand! How else are you going to be able to answer the questions?

    • Avatar of MikeLittle says

      @simonadejo, Yes, strangely a ned is allowed to have shares and options. The justification is that it gives them an incentive to ensure the long term viability / success of the company and that in itself is in everyone’s interests

      Receiving fees? Why would they wish to give up their time for no compensation? These people are, almost by definition, successful business people and they almost certainly did not achieve that success by freely giving their skills away.

      They’re not like the tutors at OT who DO give their skills away!

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