ACCA P1 - Professional Accountant - Study Text 2013 : Study Text

The examiner-reviewed Study Text provides everything you need to know for P1. It explains the theories behind the key areas of corporate governance and ethics, and demonstrates how the theories translate into practice. The Study Text gives lots of examples of the risks that organisations face. It also shows how businesses are coping with their wider social responsibilities, which the examiner has highlighted as very important. Book Cover; Title; Copyright; Contents; A note about copyright; Introduction; Helping you to pass the ONLY P1 Study Text reviewed by the examiner!; Chapter features; Studying P1; 1 What P1 is about; 1.1 Underlying themes; 1.2 Governance and responsibility; 1.3 Internal control and risk; 1.4 Professional values and ethics; 2 Skills you have to demonstrate; 2.1 Knowledge and application; 2.2 Application skills; 3 How to pass; 3.1 Study the whole syllabus; 3.2 Focus on themes, not lists; 3.3 Read around; 3.4 Lots of question practice; 4 Answering questions; 4.1 Analysing question requirements. 4.2 Understanding the question verbs4.3 Analysing question scenarios; 4.4 Consider the moral and ethical frameworks; 4.5 Content of answers; 5 Gaining professional marks; 5.1 Structure and format; 5.2 Logical flow; 5.3 Persuasiveness; 5.4 Tone; 5.5 Clarity; 6 Brought forward knowledge; 7 ACCA ethics module; Syllabus and study guide; Study guide; The exam paper; Format of the paper; Analysis of past papers; Part A Governance and responsibility; Chapter 1 Scope of corporate governance; Introduction; 1 Definitions of corporate governance; 1.1 What is corporate governance? 1.2 Corporate governance concepts2 Corporate governance and agency theory; 2.1 Nature of agency; 2.2 Accountability and fiduciary responsibilities; 2.3 Agency in the context of the director-shareholder relationship; 2.4 The agency problem; 2.5 Agency costs; 2.6 Resolving the agency problem: alignment of interests; 2.7 Other agency relationships; 2.8 Agency and public sector organisations; 2.9 Agency and charities; 2.10 Transaction costs theory; 3 Types of stakeholders; 3.1 Stakeholders; 3.2 Stockholder theory (shareholder theory); 3.3 Problems with stockholder view; 3.4 Stakeholder theory. 3.5 Instrumental and normative view of stakeholders3.6 Classifications of stakeholders; 3.7 Assessing the relative importance of stakeholder interests; 3.8 Power and interest; 3.9 Reconciling viewpoints of different stakeholders; 4 Roles of stakeholders; 4.1 Roles of stakeholders in corporate governance; 4.2 Directors; 4.3 Company secretary; 4.4 Sub-board management; 4.5 Employees; 4.6 Trade unions; 4.7 Suppliers; 4.8 Customers; 4.9 External auditors; 4.10 Regulators; 4.11 Government; 4.12 Stock exchanges; 4.13 Institutional investors; 4.14 Small investors. 4.15 Stakeholders in the not-for-profit sector4.16 Stakeholder and agency theory; 4.17 Stakeholder theory and company law; 5 Major issues in corporate governance; 5.1 Duties of directors; 5.2 Composition and balance of the board; 5.3 Reliability of financial reporting and external auditors; 5.4 Directors' remuneration and rewards; 5.5 Responsibility of the board for risk management and internal control systems; 5.6 Rights and responsibilities of shareholders; 5.7 Corporate social responsibility and business ethics; 5.8 Public and non-governmental bodies corporate governance; Chapter Roundup. Containing ACCA content, this title features examiner-reviewed Study Texts and Practice & Revision Kits, and interactive study tools that provide you with the up-to-date material you need for exam success.