Acca P1 Notes
ACCA P1 Governance, Risk & Ethics
ExPress Notes
Chapter 1
Some Key Points to DO at Paper P1
START The Big Picture
• • • Use mnemonics to help recall lists of facts (but then apply them – see below!) Prioritise the three areas of the syllabus within your study: Give more time to studying corporate governance than the other two areas, since there is more detail in this area to be learned. But make sure that you know all three areas well before the exam. You will not pass with expert knowledge of one or two of the core syllabus areas. Use facts and names from the scenario in your answer to show that you have applied the knowledge that you have. The P1 syllabus learning outcomes are all at “level 3” knowledge. This means that you get few (if any) marks for repeating or listing knowledge – it has to be applied somehow to get decent marks. Resist the temptation to write things you know. If it’s not relevant to a scenario in the question, don’t use it.
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© 2012 The ExP Group. Individuals may reproduce this material if it is for their own private study use only. Reproduction by any means for any other purpose is prohibited. These course materials are for educational purposes only and so are necessarily simplified and summarised. Always obtain expert advice on any specific issue. Refer to our full terms and conditions of use. No liability for damage arising from use of these notes will be accepted by the ExP Group.
theexpgroup.com
ACCA P1 Governance, Risk & Ethics
ExPress Notes
•
Be prepared to feel a little “cheated” by the exam itself, as you will not get the opportunity to show off everything you have learned. It’s very hard not to show off what you know, but it wastes time and annoys the marker, if it’s not relevant. Download the full text of the UK Corporate Governance Code (2010) from http://www.frc.org.uk/corporate/ukcgcode.cfm. It’s well written and brief. Reading the primary source document is less dull and
ExPress Notes
Chapter 1
Some Key Points to DO at Paper P1
START The Big Picture
• • • Use mnemonics to help recall lists of facts (but then apply them – see below!) Prioritise the three areas of the syllabus within your study: Give more time to studying corporate governance than the other two areas, since there is more detail in this area to be learned. But make sure that you know all three areas well before the exam. You will not pass with expert knowledge of one or two of the core syllabus areas. Use facts and names from the scenario in your answer to show that you have applied the knowledge that you have. The P1 syllabus learning outcomes are all at “level 3” knowledge. This means that you get few (if any) marks for repeating or listing knowledge – it has to be applied somehow to get decent marks. Resist the temptation to write things you know. If it’s not relevant to a scenario in the question, don’t use it.
•
•
Page | 7
© 2012 The ExP Group. Individuals may reproduce this material if it is for their own private study use only. Reproduction by any means for any other purpose is prohibited. These course materials are for educational purposes only and so are necessarily simplified and summarised. Always obtain expert advice on any specific issue. Refer to our full terms and conditions of use. No liability for damage arising from use of these notes will be accepted by the ExP Group.
theexpgroup.com
ACCA P1 Governance, Risk & Ethics
ExPress Notes
•
Be prepared to feel a little “cheated” by the exam itself, as you will not get the opportunity to show off everything you have learned. It’s very hard not to show off what you know, but it wastes time and annoys the marker, if it’s not relevant. Download the full text of the UK Corporate Governance Code (2010) from http://www.frc.org.uk/corporate/ukcgcode.cfm. It’s well written and brief. Reading the primary source document is less dull and