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February 201615.00

Foundations in Accountancy FAB / ACCA Paper F1

Accountant in Business

This Kit provides material specifically for the practice and revision stage of your studies for Foundations in Accountancy FAB Accountant in Business and ACCA Paper F1 Accountant in Business that has been comprehensively reviewed by the ACCA examining team. This unique review ensures that the questions, solutions and guidance provide the best and most effective resource for practising and revising for the exam.

One of a suite of products supporting Foundations in Accountancy FAB Accountant in Business and ACCA Paper F1 Accountant in Business, for use independently or as part of a package, this Kit is targeted at Foundations in Accountancy exams from 1 September 2016 to 31 August 2017 and contains:

DO YOU KNOW? Checklists to test your knowledge of Accountant in Business topics A bank of exam-standard MCQs with answers, covering the syllabus Two mock exams including the FAB/F1 Specimen exam

ACCA approved content providerBPP Learning Media is dedicated to supporting aspiring business professionals with top-quality learning material as they study for demanding professional exams, often whilst working full time. BPP Learning Medias commitment to student success is shown by our record of quality, innovation and market leadership in paper-based and e-learning materials. BPP Learning Medias study materials are written by professionally qualified specialists who know from personal experience the importance of top-quality materials for exam success.

Foundations in Accountancy FAB / ACCA Paper F1Accountant in Business

For exams from 1 September 2016 to 31 August 2017

ACCA ApprovedPractice & Revision Kit

Accountant in B

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Revision K

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For exams from

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PR A C T I C E

&

R E V I S I O N

K I T

Foundations in Accountancy

Welcome to BPP Learning Media's Practice & Revision Kit for FAB. In this Practice & Revision Kit, which has been reviewed by the ACCA examination team, we:

Include Do you know? Checklists to test your knowledge and understanding of topics

Provide you with two mock exams including the Specimen Exam June 2014

Provide the ACCAs exam answers to the Specimen Exam June 2014 as an additional revision aid

FOR EXAMS FROM 1 SEPTEMBER 2016 TO 31 AUGUST 2017

PAPER F1FAB ACCOUNTANT IN BUSINESS

FAB/F1 ACCOUNTANT IN BUSINESS

ii

First edition May 2011 Fifth edition January 2016

ISBN 9781 4727 4592 7 (Previous ISBN 9781 4727 3533 1) e-ISBN 9781 4727 4637 5

British Library Cataloguing-in-Publication Data A catalogue record for this book is available from the British Library

Published by

BPP Learning Media Ltd BPP House, Aldine Place London W12 8AA

www.bpp.com/learningmedia

Printed in the United Kingdom by

RICOH UK Limited Unit 2 Wells Place Merstham RH1 3LG

Your learning materials, published by BPP Learning Media Ltd, are printed on paper obtained from traceable sustainable sources.

All our rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without the prior written permission of BPP Learning Media.

We are grateful to the Association of Chartered Certified Accountants for permission to reproduce past examination questions. The suggested solutions in the exam answer bank have been prepared by BPP Learning Media Ltd, except where otherwise stated.

BPP Learning Media Ltd 2016

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CONTENTS

iii

Contents Page

Finding questions Question index .............................................................................................................................. v

Helping you with your revision.......................................................................................................viii Using your BPP Practice & Revision Kit........................................................................................... ix Passing the FAB/F1 exam............................................................................................................... x Approach to examining the syllabus................................................................................................ xi The Computer Based Examination ................................................................................................. xii Tackling Multiple Choice Questions................................................................................................xiii Using your BPP products..............................................................................................................xiv

Questions and answers Questions .................................................................................................................................... 3 Answers .................................................................................................................................. 115

Exam practice Mock exam 1 Specimen Exam June 2014 Questions ........................................................................................................................ 167 Answers .......................................................................................................................... 183

ACCAs exam answers ............................................................................................................... 191

Mock exam 2 Specimen Exam June 2014 Questions ........................................................................................................................ 197 Answers ............................................................................................................