Tài liệu ACCA mới nhất từ BPP môn F4

Contents
iii

Contents
Page
Introduction
Helping you to pass – the ONLY F4 Study Text reviewed by the examiner! v
Studying F4 vii
Syllabus and Study Guide xi
The exam paper xxi
Part A Essential elements of the legal system
1 The English legal system 3
2 Sources of English law 17
3 Human rights 35
Part B The law of obligations
4 Formation of contracts I 47
5 Formation of contracts II 67
6 Terms of contract 87
7 Breach of contract 105
8 The law of torts 121
9 Professional negligence 135
Part C Employment law
10 Employment contract 145
11 Dismissal and redundancy 163
Part D The formation and constitution of business organisations
12 Agency law 183
13 Organisations and legal personality 193
14 Company formation 221
15 Constitution of a company 237
Part E Capital and the financing of companies
16 Share capital 255
17 Borrowing and loan capital 269
18 Capital maintenance and dividend law 283
Part F Management, administration and regulation of companies
19 Company directors and other company officers 299
20 Company meetings and resolutions 333
Part G Legal implications of companies in difficulty or in crisis
21 Insolvency and administration 351
Part H Governance and ethical issues relating to business
22 Corporate governance 371
23 Fraudulent behaviour 387

Exam question bank
405

Exam answer bank
411

List of cases and index
443

Review form
iv

A note about copyright


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Introduction
v

Helping you to pass – the ONLY F4 Study Text reviewed
by the examiner!
BPP Learning Media – the sole Platinum
Approved Learning Partner - content
As ACCA’s sole Platinum Approved Learning Partner – content, BPP Learning Media gives you the
unique opportunity to use examiner-reviewed study materials for the 2013 and June 2014 exams. By
incorporating the examiner’s comments and suggestions regarding the depth and breadth of syllabus
coverage, the BPP Learning Media Study Text provides excellent, ACCA-approved support for your
studies.
The PER alert
Before you can qualify as an ACCA member, you do not only have to pass all your exams but also fulfil a
three year practical experience requirement (PER). To help you to recognise areas of the syllabus that
you might be able to apply in the workplace to achieve different performance objectives, we have
introduced the ‘PER alert’ feature. You will find this feature throughout the Study Text to remind you that
what you are learning to pass your ACCA exams is equally useful to the fulfilment of the PER
requirement.
Tackling studying
Studying can be a daunting prospect, particularly when you have lots of other commitments. The
different features of the text, the purposes of which are explained fully on the Chapter features page, will
help you whilst studying and improve your chances of exam success.
Developing exam awareness
Our Texts are completely focused on helping you pass your exam.
Our advice on Studying F4 outlines the content of the paper, the necessary skills the examiner expects
you to demonstrate and any brought forward knowledge you are expected to have.
Exam focus points are included within the chapters to highlight when and how specific topics were
examined, or how they might be examined in the future.
Using the Syllabus and Study Guide
You can find the syllabus and Study Guide on pages xi – xx of this Study Text

Testing what you can do
Testing yourself helps you develop the skills you need to pass the exam and also confirms that you can
recall what you have learnt.
We include Questions – lots of them - both within chapters and in the Exam Question Bank, as well as
Quick Quizzes at the end of each chapter to test your knowledge of the chapter content.

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Introduction
Chapter features
Each chapter contains a number of helpful features to guide you through each topic.
Topic list
Topic list Syllabus reference






What you will be studying in this chapter and the relevant
section numbers, together the ACCA syllabus references.
Introduction
Puts the chapter content in the context of the syllabus as
a whole.
Study Guide
Links the chapter content with ACCA guidance.
Exam Guide
Highlights how examinable the chapter content is likely to
be and the ways in which it could be examined.

Knowledge brought forward from earlier studies

What you are assumed to know from previous
studies/exams.

Summarises the content of main chapter headings,
allowing you to preview and review each section easily.
Examples
Demonstrate how to apply key knowledge and
techniques.
Key terms
Definitions of important concepts that can often earn you
easy marks in exams.
Exam focus points
When and how specific topics were examined, or how
they may be examined in the future.
Formula to learn
Formulae that are not given in the exam but which have to
be learnt.

Gives you a useful indication of syllabus areas that
closely relate to performance objectives in your Practical
Experience Requirement (PER).

Question


Gives you essential practice of techniques covered in the
chapter.

Case Study


Real world examples of theories and techniques.
Chapter Roundup

A full list of the Fast Forwards included in the chapter,
providing an easy source of review.
Quick Quiz

A quick test of your knowledge of the main topics in the
chapter.
Exam Question Bank

Found at the back of the Study Text with more
comprehensive chapter questions. Cross referenced for
easy navigation.

FAST FORWARD

Introduction
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Studying F4
This paper examines a basic understanding of legal principles and their application. You may find the
material a little different from what you are used to because there are virtually no numbers involved.
Therefore it is important to develop a concise style of writing in order to get your points across quickly
and clearly.
The F4 examiner
The examiner for this paper is David Kelly and he has been in the role for some time. Therefore there
should be no surprises when it comes to your exam – each of his papers is similar in style and content.


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Introduction
1 What F4 is about
The main aims of the F4 exam are:
 To develop knowledge and skills in the understanding of the general legal framework and of
specific legal areas relating to business, but
 To recognise the need to seek further specialist legal advice where necessary
The exam is not designed to turn you into a legal expert. Instead you will be a well-informed professional
accountant who appreciates the legal issues of doing business but who recognises the boundaries of their
legal knowledge and therefore the point at which professional legal expertise must be sought. The
sequence of the syllabus and study guide takes you through the main areas of what you need to know.
Essential elements of the legal system
In this part of the syllabus you are covering areas that underlie all the other areas, namely: what is law and
how the UK legal system creates and administers it. The distinctions between criminal law and civil law,
between common law and civil law and between public law and private law, are very important. Most of
the paper is concerned with civil law, namely the law that sets out the rights and duties of persons in
relation to each other. There are elements of criminal law in relation to companies, insolvency, insider
dealing and money laundering, in addition to the topical area of human rights legislation.
Law of obligations
The syllabus clearly distinguishes two important types of obligation that individuals and businesses have.
Contract
When individuals or businesses make agreements, a legally binding contract may be formed. This paper
focuses on the requirements that must be met for a contract to be binding on the parties, what valid
contracts must contain, under which circumstances the contractual terms are breached and what
remedies are available for the affected party.
Tort
All members of society have a duty not to harm others and this principle forms the basis of tort. The tort
of negligence is highly topical and has an impact on individuals, businesses and professionals (such as
accountants). It is important for you to understand how such a duty is formed, the circumstances that will
cause a breach of that duty and if there are any defences to a breach that the perpetrator can call on.
Employment law
Employees and employers are bound to each other by an employment contact. It is important that you
have a good understanding of the contents of such a contract. Both employers and their employees owe
duties to each other and breach of these duties can result in legal action being taken.
Termination of employment can be fraught with danger for employers if it is not handled correctly. The
terms of 'wrongful' and 'unfair' dismissal are used commonly in the media, but the causes and remedies
are distinct and it is important for you to understand the difference.
Formation and constitution of business organisations
The syllabus is very concerned with the various legal forms through which business transactions may be
conducted. It is important to distinguish initially between natural persons (human beings) and legal
persons (including natural persons, but extending to some forms of partnership and, most significantly,
companies). The law of agency underlies a substantial part of our study of business forms, since partners
and directors can and sometimes do act as agents.

Introduction
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Capital and the financing of companies
Most trading companies are financed by a mix of share capital (provided by their owners) and loan capital
(provided by third party lenders). Share capital may take a variety of forms, with each class of share
having different rights within the company. However, the primary responsibility of the shareholder is to
contribute funds to the company in accordance with the terms of the company’s constitution and the
shares which they own. The return of these funds to shareholders is restricted since they are seen as the
'creditors' buffer', that is the funds which are available to settle creditors' outstanding debts in preference
to amounts due to shareholders. Hence there are detailed laws on 'capital maintenance'. These extend to
how far companies may distribute accumulated retained earnings to their shareholders in the form of
dividends or buyback of shares.
Loan capital is usually provided by lenders only if they can be assured of its repayment to them. If lenders
supply funds in return for debentures in the company, they usually require security for their loan: the
debenture is secured by means of a registered charge on particular or general assets of the company,
which can (within limitations) be realised so that the loan is repaid.
Management, administration and regulation of companies
As an artificial legal person a company cannot manage itself. This is the role primarily of the company's
directors, who owe duties to the company to manage it for the benefit of the company and thereby for the
benefit of its owners, the shareholders. There are a great many legal rules which regulate the appointment,
remuneration, disqualification, powers and duties of directors. These have grown up largely because of
problems that frequently occur. Most of these can be said to arise from conflicts between directors'
personal interests and their duties to act in the company's interest. Directors are termed officers of the
company along with the company secretary. Many companies also have to have an auditor.
Directors come into immediate contact with shareholders via company meetings, and the resolutions that
are passed at these meetings. There are therefore a plethora of legal rules on meetings and resolutions,
designed to ensure that the company is taking decisions properly and in accordance with the legitimate
interests of shareholders as a body.
Legal implications of companies in difficulty or in crisis
Not everything goes according to plan and frequently companies will encounter financial or other
difficulties, or will even reach crisis point and find themselves insolvent. At this point all parties –
shareholders, directors, lenders, customers, suppliers and employees – are in danger of losing out. There
are procedures designed to protect struggling companies to give them a 'breathing space' while they
resolve their issues. There are also rules for how a company which cannot be saved should be 'wound up',
depending on whether or not the company has any funds left.
Corporate governance
Corporate governance means trying to ensure that companies are well-managed and controlled. While
there are plenty of legal rules designed to ensure good corporate governance, there are also voluntary
codes of practice which apply to some but not all companies. The UK Corporate Governance Code applies
to all companies listed on the London Stock Exchange, but is also recommended to other companies. It
seeks to protect shareholders and addresses the problems of conflicts of interest in part by implementing
the principle of separation of duties between executive and non-executive directors. It also covers
directors' remuneration, external audit, nominations to the board of directors and other issues.
Fraudulent behaviour
Finally the syllabus covers the situations where activities of directors and others have strayed into criminal
behaviour. This often arises in the context of companies running out of money, but the law is also
concerned with company insiders with superior knowledge benefiting from insider dealing, and crime in
the form of money laundering.
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Introduction
2 Skills you have to demonstrate
To pass the F4 exam you will need to bring a number of different professional attributes to bear.
First you need technical knowledge. There is a huge amount of technical content in the syllabus: case law,
conventions, codes of practice, and legislation. You need to learn this and be able to identify which parts
of the knowledge you have are being called for in a particular question.
Secondly you need to be able to apply knowledge to the scenarios that are presented in the last three
questions on the paper. You are aiming to solve practical problems here. Generally in scenario questions
there will be marks available for stating the law, identifying the issues in the scenario in relation to the law,
applying the law and reaching a conclusion.
Thirdly you need written skills in order to be able to explain, and advise on the basis of, your technical
knowledge. Explaining means providing simple definitions and covering why and how these approaches
have been developed. You’ll gain higher marks if your explanations are clearly focused on the question and
you can supplement your explanations with examples.
3 How to pass
To pass the exam you need to cover the syllabus thoroughly. The exam requires you to answer all TEN
questions on the paper. Each topic that you fail to cover represents 10% fewer marks in the exam.
You should practise answering questions as much as possible, making sure that your answers are
focused, specific and completely relevant to the question.
Ten questions is a lot to answer in three hours so your exam technique is very important, especially:
 Strict time management: only 18 minutes per answer
 Deciding on the order in which you attempt questions carefully: use your 15 minutes reading and
planning time carefully to make sure that you attempt your best topics first when you start to write.
This will bolster your confidence and help to ensure that you manage your time properly, so long
as you don’t overrun your time allocation on the early, 'better' questions
 Reading the question carefully: make sure you identify precisely the key issues requiring your
attention
Only answering the question set: do not stray into irrelevant areas of, say, contract law. You will gain no
marks and you will lose time.


Introduction
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Syllabus and Study Guide

The F4 syllabus and study guide can be found below.

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Introduction

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