Terence Lawless BBS, ACCA Paper Specialist: F1

Terence is a member of the Association of Chartered Certified Accountants (ACCA) and has extensive Financial Services experience having worked for leading Irish financial institutions over the last eight years. Having completed all of his professional exams with Dublin Business School Terence achieved remarkable results receiving worldwide placing in several papers. It is this insight of knowing how to best approach the exam questions that Terence uses to structure his lectures around. His lectures focus on exam technique,the crucial areas of syllabus knowledge, question practice and time management, giving students all the tools they require to achieve exam success.

F1 – Accountant in Business explained.

To introduce knowledge and understanding of the business and its environment and the influence this has on how organisations are structured and on the role of the accounting and other key business functions in contributing to the efficient, effective and ethical management and development of an organisation and its people and systems.

On successful completion of this paper, candidates should be able to:

• Explain how the organisation is structured, governed and managed by – and on behalf of – its external, connected and internal stakeholders
• Identify and describe the key environmental influences and constraints on how the business operates in general and how these affect the accounting function in particular
• Describe the history, purpose, and position of accounting in the organisation and the roles of other functional areas
• Identify and explain the functions of accounting systems and internal controls in planning, monitoring and reviewing performance and in preventing fraud and business failure
• Recognise the principles of authority and leadership and how teams and individuals behave and are managed, disciplined and motivated in pursuit of wider departmental and organisational aims and objectives
• Recruit and develop effective employees, using appropriate methods and procedures, while developing constructive relationships through effective communication and interpersonal skills