Aim

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.

Main capabilities

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

A Understand the purpose and types of businesses and how they interact with key stakeholders and the external environment.

B Understand business organisation structure, functions and the role of corporate governance

C Recognise the function of accountancy and audit in communicating, reporting and assuring financial information and in effective financial control and compliance

D Recognise the principles of authority and leadership and how teams and individuals are recruited, managed, motivated and developed.

E Understand the importance of personal effectiveness as the basis for effective team and organisational behaviour.

F Recognise that all aspects of business and finance should be conducted in a manner which complies with and is in the spirit of accepted professional ethics and professional values