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ACCA F1 Organisations

VIVA
View all ACCA Paper F1 lectures >>This F1 lecture is based on OpenTuition slides view/download here>>

An organisation can be defined as:

“A social arrangement which pursues collective goals, which controls its own performance, and which is a boundary separating it from its environment.”

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This is, perhaps, a deceptively simple definition. Probably the most important word is ‘social’. Organisations consist of people and we are all social animals. We have to get on with our colleagues; ideally we would like our boss, or at least respect our boss. We have to get on with customers; we have our own ambitions; we have our own motivations.

Early management theory tended to neglect the social side of organisations and management and had a rather cold, militaristic approach. Modern theories have changed this considerably.

Another important aspect of the definition is that of ‘collective goal’s. There has to be an assumption that people within an organisation are ultimately aiming at the same end results, if they are not, then chaos is likely to rule. One of the functions of management is to arrange the business and the people in it so that everyone is pulling in the same direction, and the collective goals are ultimately established.

Types of organisations

You need to be aware of the characteristics of several types of organisation.
Commercial organisations are profit-seeking. They can be sole traders, partnerships,
limited liability partnerships and limited companies. The main advantage of limited
liability partnerships and limited companies is that if the organisation hits hard times
and has to go to liquidation, the owners of the organisation are protected. Creditors
and banks can pursue only the assets which are in the company. Sole traders and
partners, on the other hand, have unlimited liability for all the business’s debts.

The second type of organisation is a not-for-profit organisation. An example of a notfor-
profit organisation could be a charity, such as a charitable hospital. Instead of
producing a profit and loss account, they tend to produce income and expenditure
accounts. Ultimately their income has to exceed their expenditure or they will run out
of money.

Public sector organisations are owned by the state either at a national level or at a
local level. Examples could be the defence department, many health services and
educational systems. In some economies other industries or businesses are also
owned by the state. For example, many national airlines are state-owned.

Non-governmental organisations tend to be not-for-profit organisations but with an
international brief. Many United Nations organisations will fall into this category.

Co-operatives are owned by the people who work in the organisation. Some farmers,
for example, set up co-operatives to market their products more effectively than they
could on their own. Usually they seek some sort of profit, but the ownership is shared
widely amongst the people who are working in the organisation.

Reader Interactions

Comments

  1. Martin says

    March 24, 2014 at 8:27 am

    How do I get your video lectures

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  2. selena says

    March 11, 2014 at 3:58 pm

    hey admin, please reply 🙂
    is it ok for me to print your notes to study instead of studying it on the computer??
    Thank You 🙂

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    • opentuition_team says

      March 11, 2014 at 4:41 pm

      Why not? Just download the course notes and print them out.

      Log in to Reply
      • selena says

        March 12, 2014 at 4:17 pm

        Thank You

  3. SAFDAR says

    January 19, 2014 at 4:18 pm

    this one is nice way to improve F1

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  4. roland says

    January 3, 2014 at 10:26 pm

    Thank you for the lecture. It’s started me off on the ACCA path today whilst Yuletide is still in the air ! I love using the computer (inc. chatting to folks) rather than sitting with a book on my knees in the living room trying to keep awake after a meal !!
    I don’t feel so isolated now, and feel MUCH more motivated. Thanks again OT !

    Won’t forget a nice donation if/ when I pass F1

    atb r

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  5. mohaimenul says

    December 24, 2013 at 8:08 am

    nice lecture

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  6. abhinandhdileep says

    December 19, 2013 at 10:54 am

    my friend just passed f1 today with 88%…and he said he only took the help of opentution.com. i totally agree that Opentution is the best site for video lectures. Now i am also finding it very useful. i used to hate theory subjects but with opentution ,everything is made easy… thanks alot to opentutiom.com

    Log in to Reply
    • Ken Garrett says

      December 19, 2013 at 11:39 am

      Great! Thanks for the feedback.

      Log in to Reply
    • Sanjey says

      January 23, 2014 at 2:15 pm

      I’m just trying to get started and though I believe F1 can be passed with just the opentuition notes & lectures, would I be right to assume it is just the case with F1? For F2 and more, you need to enrol into a course, get some tutoring…?

      Log in to Reply
  7. Patricia says

    December 5, 2013 at 1:29 pm

    I want to for F1 in january is it possible Thats CBE please advise

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    • opentuition_team says

      December 5, 2013 at 1:59 pm

      You should contact your local ACCA office or a local tuition provider which provides CBE exams

      Log in to Reply
  8. abhinandhdileep says

    December 3, 2013 at 1:52 pm

    Admin… Can you please answer my question below? Please… Thank you

    Log in to Reply
    • Ken Garrett says

      December 3, 2013 at 3:19 pm

      The lectures and notes should be enough to pass, but it is a good idea to have some question practice. BPP, Kaplan, LSBF etc publish revision kits with practice questions.

      Log in to Reply
      • abhinandhdileep says

        December 4, 2013 at 10:05 am

        i have the BPP revision kit… i hope thats enough for practice… thanks alot 🙂

  9. abhinandhdileep says

    December 2, 2013 at 10:35 am

    hi admin… i have been preparing for my exams in december (f1,f2,f3)… i am almost done with f2 and f3… i have only studied the first chapter of f1 as of yet. can you please tell me whether watching these video lectures are sufficient to pass in f1 paper? please do give me a reply. thanks

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  10. abhinandhdileep says

    November 29, 2013 at 5:06 pm

    hi… i have been preparing for my exams in december (f1,f2,f3)… i am almost done with f2 and f3… i have only studied the first chapter of f1 as of yet. can you please tell me whether watching these video lectures are sufficient to pass in f1 paper?

    Log in to Reply
    • abhinandhdileep says

      November 29, 2013 at 5:09 pm

      also can you please tell any alternatives to study f1…

      Log in to Reply
  11. shidah says

    November 26, 2013 at 1:31 am

    Hi, can I find out if the materials are also relevant for 2014? I ahve just started studying for ACCA. Tx.

    Log in to Reply
    • Ken Garrett says

      November 26, 2013 at 7:39 am

      Its relevant up to end January 2014. Thereafter, there are relatively minor changes to the syllabus, but the main change will be to the exam format:

      “F1/FAB is being restructured with effect from February 2014, to introduce longer
      style questions. The new examination will consist of two sections. Section A will contain 30 two mark objective questions and 16 one mark objective questions. Section B will contain 6 four mark multi-task questions each of which will examine one of the six main sections of the syllabus.”

      See: https://www.accaglobal.com/en/student/acca-qual-student-journey/qual-resource/acca-qualification/f1/pilot-papers.html

      from where you can download specimen exams.

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  12. thiraviyachchelvam says

    November 12, 2013 at 2:07 pm

    Thanks,very useful

    Log in to Reply
  13. PENG RONG DONG says

    October 19, 2013 at 7:25 am

    Thanks.But I want to know whether the material valid is for December 2013 .
    Why are there too many comments before 2012 ?

    Log in to Reply
  14. omeyma says

    August 25, 2013 at 2:59 pm

    Hi all of u
    I just want to know is those material valid for December 2013 ?

    Please advice me…

    Thanks alot

    Log in to Reply
    • hashmiking says

      August 25, 2013 at 3:52 pm

      yes it is

      Log in to Reply
    • umairamirhamza says

      September 21, 2013 at 12:07 pm

      YES IT IS

      Log in to Reply
    • auckly says

      October 6, 2013 at 7:43 pm

      yes

      Log in to Reply
  15. Neville says

    August 22, 2013 at 4:56 am

    Can someone give me another definition of what they understand the matrix structure to be, i some what have it, but i want to hear a different view from what i gathered.

    Log in to Reply
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