F1 – Accountant in Business

This syllabus gives as an introduction to business structure and purpose, and to accountancy as a central business function.   The syllabus commences with an examination of the structure and governance of businesses, briefly introducing ethics. It then looks at business in the context of its environment, including economic, legal, and regulatory influences on such aspects as governance, employment, health and safety, data protection and security.   From there, it focuses on accounting, how it originated, how it is organised, its critical importance in business planning and control, and how it affects other business functions. The syllabus then introduces students to the accounting profession and to certain aspects of the regulatory framework as they affect accounting, auditing and governance.   The syllabus also covers accounting, auditing, and internal control as specific business functions and how these should be supported by effective management information systems.   Finally, the syllabus introduces key management and people issues such as individual and team behaviour, leadership, motivation and personal effectiveness.