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P1 Revision Summary

In: Business and Management

Submitted By nimrahjamalk
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City Colleges’ ‘Night Before Notes’ for ACCA P1 Dec 2014
Owen O’Reilly owen.oreilly@citycolleges.ie
Everyone loves ‘tips’ – but you have got to be careful! There is a grain of truth in the following... handy as a checklist also –
3 or 4 points on each:
Paper P1 Becker
Paper P1 BPP
• Corporate governance (CG) concepts, underlying
• Public sector governance. fundamentals and arrangements.
• Integrated reporting.
• CG in other organisations (e.g. public sector, NGOs).
• Ethical and CSR theories – applied to scenarios.
• Types and forms of CG (e.g. rules based, principles based, insider, outsider systems, UK Corporate Governance Code,
Paper P1 LSBF
SoX).
• Governance:
• Agency theory, stakeholders, Mendelow.
– Role of Board. – Unitary/two tier.
• Board structures, CEO/chairman, directors, NEDs,
– Chair role/CEO chair split. committees. – Induction/performance appraisal. – Reward systems.
• Internal control and business risk, Turnbull.
– Family based structure.
• Ethical theories and business codes – Kohlberg, Gray, Owen
– Global standards in governance. and Adams, Tucker, AAA.
– Stakeholder classifications.
• Professions and the public interest.
• Control:
• Corporate social responsibility, corporate citizen, footprints
– Objectives of a sound system. and sustainability.
– COSO failures. – Reasons for internal audit.
• Integrated reporting, social and environmental auditing.
– Internal control disclosure.
• Risk management:
Paper P1 Kaplan
– Risk committee or risk manager. – Strategic/op/static and • Corporate governance comparison of approaches – public v dynamic risk. private sector.
– Risk diversification.
• Conflict of interest and independence.
– ALARP.
• Stakeholders and stakeholder claims.
• Ethics:
• Function and importance of internal audit.
– Absolute/relative, consequential. – Grey, Owen and Adams. • Risk...

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