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I wanted to ask that where does these notes are made from? are they made from bpp or from study hub? Because they are detailed and really helpful, also I have a problem in companies limited by guarantee and limited by shares. Are they not the same? because shares are themselves a guarantee right? please help me I am thinking of giving this exam next month and I am really worried as this whole subject is based entirely on articles which are really hard to remember. Also do you have any tips how to remember the articles? thanks in advance
Hello Laiba
That’s a lot of questions that you have asked here! I’ll take them one at a time 🙂
“where does these notes are made from? are they made from bpp or from study hub? Because they are detailed and really helpful,”
Laiba – I wrote the notes. They were sourced out of my own knowledge of the law and heavily based on what the ACCA is looking for in the legal knowledge of an accountancy student. They are made from neither BPP nor from any study hub … but I’m pleased that you find them helpful.
You next asked –
“also I have a problem in companies limited by guarantee and limited by shares. Are they not the same? because shares are themselves a guarantee right?”
The short answer to this question is – No, they are not the same!
By a l o n g, l o n g, l o n g way, companies limited by shares outnumber companies limited by guarantee by a factor of thousands : 1. Companies limited by guarantee tend to be companies that are formed for “a good purpose”. Charities, companies promoting the arts, health, commerce, friendship, music and education (to name just a few) would sensibly be companies limited by guarantee. The members of such companies face no prospect of making any return on their interest – they cannot by law receive any dividends or capital distributions from the company. Their only liability is limited to the amount that they have individually guaranteed. Therefore, in the event of such a company declaring itself insolvent, a liquidator would be able to raise only such amounts from the members as those members have individually guaranteed. There is no purchase nor holding of shares by members in a company limited by guarantee.
Shares are NOT a guarantee! A share was historically defined as ‘a bundle of rights’ that entitled the share-holder to, for example, receive financial statements, attend, speak and vote at meetings, receive dividends and distributions on a liquidation – if there are surplus funds after ALL creditors’ claims have been settled. They are a form of gambling whereby the shareholder buys the investment and then hopes that the board of directors can use the aggregate of those investments to make the company prosper and grow. That way, the investors may be able to look forward to the possibility of selling their investment at a profit.
“I am thinking of giving this exam next month and I am really worried as this whole subject is based entirely on articles which are really hard to remember. Also do you have any tips how to remember the articles?”
Let me ask you … What are you gaining by worrying? Do you feel better? Is your worry preventing you from constructive studies?
From my own experiences, to worry is a distraction and is utterly unhelpful!
I’m not sure to what ‘articles’ you refer. The subject of law, whether it be English Law or Global Law, (or, indeed, any other variant) is VAST. So stop worrying about the sheer volume of the subject – you are NOT expected to know the entire World of Global Law and certainly not between now and next month!.
How to study? Constant repetition! Time and time again, go through the course notes, listen to the lectures. But, really importantly, practice, practice, practice questions from the revision kit. It’s a 2 hour journey simply to read (not try to learn, just read) the course notes. Where there’s a particular area in the notes that you’re not happy with, watch the associated video and see if I have explained it more fully.
But then, 3 x 1 hour each evening, practice answering questions from the revision kit. First time through, you may only be scoring in the high 20s / low 30s. But try those questions again 48 hours later and you should be scoring in the high 40s / low 50s. Another 48 hours, you’re realistically looking at high 60s / low 70s. Do you see the underlying trend? And, if there’s an answer that you cannot understand, post on this forum again, and I’ll get back to you.
Maybe do every 10th question from the revision kit. Take a 15 minute break after each hour. Don’t write your attempted answer in the revision kit itself – write on a separate piece of paper. And go over and over and over those revision kit questions.
And – whenever you hit a brick wall, post again on this forum and I shall get back to you.
OK?
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