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ACCA Paper F1 –
Accountant in Business
TutorThomas Kane
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Introduction
Accountant in Business Course
• Business Environment• Influence on Organisations• Role of Accountant• Other Business Functions• Effective, efficient and ethical organisation• Basic Principles of effective management
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Introduction
Structure of the Course – 12 Lectures
• Class 1 – Business Organisations and their Stakeholders, The Business Environment (Ch1&2)
• Class 2 – The Macro-Economic Environment (Ch3)
• Class 3 – Micro Economic Factors (Ch4)• Class 4 – Business Organisation, Structure and
Strategy, Organisational Culture and Committees (Ch5&6)
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Introduction
Structure of the Course
• Class 5 – Corporate Governance and Social Responsibility (Ch7)
• Class 6 – The Role of Accounting (Ch8)• Class 7 – Control, Security and Audit, Identifying
and Preventing Fraud (Ch9&10)• Class 8 – Leading and Managing People,
Recruitment and Selection (Ch11&12)
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Introduction
Structure of the Course
• Class 9 – Diversity and Equal Opportunities, Individuals, Groups and Teams (Ch13&14)
• Class 10 – Motivating Individuals and Groups, Training and Development (Ch15&16)
• Class 11 – Performance Appraisal, Personal Effectiveness and Communication (Ch17&18)
• Class 12 – Ethical Considerations (Ch19)
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Introduction
Exam – 2 hours
• Section A – 46 Multiple Choice Compulsory Questions
• Section B – 6 Multi-Task Compulsory Questions
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Chapter 1
Topics
• Type of Business Organisation• Stakeholders
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Types of Business
Organisation
An Organisation
• A social arrangement which pursues collective goals, that controls its own performance and has a boundary separating it from its environment.
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Types of Business
Organisation
Organisations are more productive:
• Overcoming individual limitations• Saving time• Sharing accumulated knowledge• Synergy• Specialisation
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Types of Business
Organisation
How do organisations differ from one another:
• Ownership – public or private• Control• Activities• Profit Orientation• Legal Status
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Types of Business
Organisation
How do organisations differ from one another:
• Size• Sources of Finance• Technology Usage
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Types of Business
Organisation
Which of the following is not an organisation?
• Ryanair• Simon Community• Irish Rugby Supporters• Deloitte
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Types of Business
Organisation
Which of the following is not an organisation?
• KPMG• The Irish Army• Fianna Fail Voters• Microsoft
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Stakeholders
Definition
• The individuals or groups that have an interest in what the organisation does are it’s stakeholders.
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Stakeholders
Three main groups of stakeholders
• Internal• External• Connected
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Stakeholders
Internal Stakeholders
• Employees• Management
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Stakeholders
External Stakeholders
• Community• Government• Pressure Groups
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Stakeholders
Connected Stakeholders
• Shareholders• Customers• Suppliers• Financiers
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Stakeholders
Primary Stakeholders
• Direct Interest in an organisation• E.g. Employees, Investors who rely on
organisation for financial well being
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Stakeholders
Secondary Stakeholders
• Indirect Interest in an organisation• E.g. Community or government
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Stakeholders
Mendelow’s Matrix
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Stakeholders
Under Mendelow’s matrix, how should an organisatio treat a stakeholder who has low interest and high power?
• Keep satisfied• Keep informed• Monitor• Engage actively
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Chapter 2
Topics
• Analysing the environment• Employment Protection• Data Protection• Health and Safety Protection• Social, cultural and technological trends• Michael Porter
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Analysing the Environment
General Environment
• Physical Environment• Macro Environment
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Analysing the Environment
Macro Environment
• Political/ Legal Factors• Economic Factors• Socio-Cultural Factors• Technological Factors
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Analysing the Environment
Task Environment
• Customers• Suppliers• Competitors
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Analysing the Environment
Practical Example – Identify the macro environmental factors affecting the hotel industry
• Political/Legal• Economic• Socio-Cultural• Technological
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Analysing the Environment
Practical Example – Identify the macro environmental factors affecting the hotel industry
• Political/Legal– Employment Law– Health and Safety Law– Data Protection Law– Tax Law– Other Government Activities
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Analysing the Environment
Practical Example – Identify the macro environmental factors affecting the hotel industry
• Economic– Recession– Less Foreign Tourists– Less Disposable Income– More Labour available at a lower cost (subject to min
wage)– Very Competitive marketplace
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Analysing the Environment
Practical Example – Identify the macro environmental factors affecting the hotel industry
• Socio-Cultural– Culture of holidaying abroad during boom– Culture of holidaying at home during recession– What types of holidays are popular?
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Analysing the Environment
Practical Example – Identify the macro environmental factors affecting the hotel industry
• Technological– Online Marketing– Online Bookings– In-hotel Wi-Fi– TVs, phones
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Analysing the Environment
What does the government do that influences an industry
• Product Standards• Environmental Protection Laws• Monetary Policy - ECB• Research & Development Policy• Regional Policy• Labour
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Analysing the Environment
Potential Government Impact an Industry
• Capacity Expansion• Demand for products and services• Divestment• Emerging Industries• Entry barriers• Competition
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Analysing the Environment
International Trade
• May be a higher level of political risk• Comparative Advantage• Protectionism
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Employment Protection
Legislation
• Retirement• Resignation• Dismissal• Disciplinary procedures• Redundancy• Equal Opportunities
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Employment Protection
Life Cycle of an Employee
• Recruitment and selection – Equal Opportunities• Performance – Disciplinary Procedures• Termination – Retirement, Resignation,
Dismissal, Redundancy
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Data Protection
Legislation
• Data Protection Act 1988• Data Protection (Amendment) Act 2003
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Data Protection
Definitions
• Data is any information in a form that can be processed
• Processing means performing any operation or set of operations on data, including storage
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Data Protection
Data Protection Principles
• Data should be processed fairly and lawfully• Obtained for specified and lawful purposes• Adequate, relevant and not excessive• Accurate and up to date• Not kept for longer than necessary• Processed in accordance with the rights of data
subject
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Data Protection
Data Protection Principles
• Measures taken against unauthorised use• Not transferred to countries where data
protection rights are not upheld
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Data Protection
Example 1 – Unfair Processing
• HSE used video clips of foster family for training purposes
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Data Protection
Example 2 – Obtaining Data
• Employee moved employment and took the client list to his new employment and contacted them on behalf of his new employer
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Data Protection
Example 3 – Excessive Data
• Individual asked for DOB and mother’s maiden name when applying for pet insurance
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Data Protection
Example 4 – Accurate & up to date
• Financial institution failed to inform the credit bureau that an individual’s loan had been paid back on time
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Data Protection
Example 5 – Retention
• Rental car company holding credit card details from previous transactions charge the credit card for disputed charge
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Data Protection
Example 6 – Unauthorised Use
• Employee of an insurance company uses employers computer system to look up third party to an accident the employee was engaged in
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Data Protection
Example 7 – Holding data outside the EU
• Global companies warehousing data in a single location
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Health & Safety Protection
Legislation
• Safety, Health & Welfare at Work Act 2005 and 2010
• Health & Safety Authority
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Health & Safety Protection
Employer Duties
• Work Practices must be safe• Environment must be safe• Plant/machinery must be maintained• Employees must be trained adequately• Communication of H&S policies• Risk Assessment and Controls
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Health & Safety Protection
Employer Duties
• Share Information• Identify the most at risk• Employ Competent Advisors
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Health & Safety Protection
Employee Duties
• Take reasonable care• Allow employer to carry out duties• Not interfere with machinery• Inform employer of risks• Use equipment properly
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Health & Safety Protection
Health & Safety Policy
• Statement of Principles• Safety Procedures• Compliance with law• Equipment Instructions• Training Requirements