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Hi P1 students!
We have couple of weeks before exam. And I feel lack of discussion of P1 topics. It is harder to practice exams if they are not numerical (as for me)…
It could be beneficial to have some general discussion as part of the revision before exam.
Let’s try to ask questions and others will try to answer? It could encourage us for constant “being” in educative and remembering process ))
Or maybe some other way. Would you be interested in such revision?For start – Question 1 🙂
I’m confused about role of Chair. Sometimes I find that he should lead the board, sometimes I find that he is acting on behalf of the board… Does the board delegate to him anything?
What is the role of Chair?Chairman is the head of the board and hence also acts on behalf of the board, he is also a spokesperson. Board does not delegate to him rather he helps the board in reaching a consensus to a particular problem.
Role of the Chair are as follows:
1. To make sure right information is provided to the board at the right time
2. Right time is spend on the critical issues
3. Liaise with the shareholders effectively (NOT stakeholders, that is the role of CEO)
4. Sign of the accounts
5. Facilitate board appraisal and provide them the necessary sources required for their work.Thanks!
I think that Chair could also be responsible for assisting in communication between board and shareholders.Question 2 🙂
What are pros and cons of two-tier board and one-tier board? Some came to my mind, but I’m not sure in them.
Benefits of two-tier board:
– strategic board can concentrate on strategic issues
– it is easier to gather all board members (as there is less of them)Minuses of two-tier board:
– it could be more expensive?
– some strategies, that strategic board can choose, could be not very practicable from the view of operational board
– not all views and experience could be taken into accountI have found that the answers from the past paper exams seem to differ from the ACCA website and the ones at the back of the BPP revision books. Which do you consider to be most reliable and which one should we use to better assess our answers?
Hi Pafitis,
I would say that this paper is broad, and answers could be given in different ways. Or different right points/emphasises could be made on the same issue. Even in examiner’s answer you can meet “allow a range of expressions of these tensions” or “allow other ways to remove XXX if adequately justified”.Personally I prefer answers of BPP. They contains subheadings and further groundings/explanations.
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