Introduction to ACCA Corporate and Business Law Exam

Overview

• Presenter: Mike Little, Open Tuition
• Purpose: To introduce the ACCA Corporate and Business Law examination (English variant) and how to effectively use Open Tuition materials.

Common Concerns

• Many students feel intimidated by learning law.
• Important to note: No need to memorize case names, dates, or statutes for the exam.
• Focus on understanding the principles of law established by cases.
• Ability to recall cases and principles leads to success in scenario-type questions.

Syllabus Breakdown

1. Essential Elements of the Legal System

   • Required knowledge for 1-2 exam questions.
   • Important not to skip any part of the syllabus.

2. Law of Obligations (Contract Law)

   • A significant portion of the syllabus.
   • Important for contracts entered in daily life (employment, transportation, utilities).

3. Employment Law

   • Directly affects everyone.
   • Relevant for current or future employment situations.

4. Formation and Constitution of Business Organizations

   • Types include sole traders, partnerships, agencies, and companies.
   • Subtopics include:
     • Capital and Financing: Methods of financing businesses.
     • Management, Administration, and Regulation: Governance and legal requirements for businesses.
     • Insolvency Law: Laws related to company bankruptcy and liquidation processes.

5. Corporate Fraud and Criminal Behavior

   • Pervasive concept throughout the syllabus.
   • Includes insider dealing, money laundering, wrongful trading, etc.

Exam Format

• Type: Computer-based with a paper-based option.
• Structure:
  • Section A: 25 objective test questions (50 marks).
  • Section B: 20 objective test questions (20 marks).
  • Section C: 5 multi-task questions (30 marks).
• Duration: 2 hours (2 hours 15 minutes for paper-based).
• Pass Mark: 50% across all ACCA exams.

Link to Other ACCA Papers

• Indirect links to:
  • Financial Reporting
  • Audit and Assurance
  • Strategic Business Reporting (only indirectly)
• Unique aspect: No direct links with other papers.

Resources Offered by Open Tuition

• Free Study Materials: Notes and lectures available on the website.
• Forums:
  • General Forum: For students to ask and answer each other’s questions.
  • Ask the Tutor Forum: For direct questions to the tutor (Mike Little).
• Technical Articles: Read articles in Student Accountant magazine related to law (few changes over the years).

Call to Action

• Encourage students to spread the word about Open Tuition.
• Subscribe to the YouTube channel.
• Engage with forums and help fellow students.

Conclusion

• Open Tuition aims to support ACCA students in their studies.
• Emphasis on community and sharing knowledge for collective success.