Prepare

to pass
A guide to help
you if you are
studying

Corporate and
Business Law

F4
(GLO)

GETTING
STARTED

Prepare to pass

LEARNING
PHASE
REVISION
PHASE

Getting started

03

Why use this guide?

Learning phase

09

Revision phase

14

Final preparation

17

The exam

19

Structured approach to show you how to succeed

Signposted resources and how to use them

Stages of
study

Sections

FINAL
PREPARATION

Welcome to your guide helping you

to study for your F4 (GLO) exam

Tips for success to help you through your studies

Appendix Links21
This guide is applicable for exams to August 2016.

THE EXAM

Interactive clickable checklists to keep you on track

APPENDIX

02

GETTING
STARTED

Enter for your exam

Draw up your study plan

Get to know your exam

REVISION
PHASE

Buy an Approved Content

Provider study text and question
& answer bank

LEARNING
PHASE

Your checklist

FINAL
PREPARATION
THE EXAM

03

APPENDIX

Getting started

GETTING
STARTED

Getting started - Tips for success

LEARNING
PHASE

Tips for success

- the most up to date content and

syllabus coverage

Download the Student

Planner App a tool
that helps you map
your journey to ACCA
membership while
balancing your work
and social life.

Be realistic and consider

when you are best able
to study maybe early
mornings work better
for you or perhaps
shorter study periods
more often.

Remember to
personalise your edition
of Student Accountant
so you receive F4
specific information as
you need it.

Consider building in an
extra study period after
every few chapters to
review and consolidate
your learning.

Once you have

prepared your plan
stick to it!

Take a 5 10 minute
break every hour
to help maintain
your motivation and
concentration.

THE EXAM

- past exam questions updated for

changes to the syllabus, question
style and exam format as well as
practice questions and answers
and full mock exams to ensure you
are fully prepared for your exam.

Use the ACCA Learning

Community to link up
with fellow students
around the world
studying the same
exam as you get tips,
join discussions and
share ideas and advice.
You can also access
live Q&A sessions and
presentations.

When drawing up your

study plan (see page 5)

Spend some time

familiarising yourself
with the free resources
available via the
exam resource finder on
the student section of
the ACCA website
we will provide you with
specific guidance on
when and how to use
these resources
during the relevant
stages of study.

FINAL
PREPARATION

- tests, quizzes and other support

designed to help you prepare for
your exam

The earlier you enter

for your exam the less
it costs!

REVISION
PHASE

We strongly recommend that

you buy an F4 (GLO) Approved
Content Provider Study Text
and Question and Answer Bank
to ensure exam success. These
provide:

APPENDIX

04

GETTING
STARTED

Getting started - Draw up your study plan

Wednesday

Thursday

Friday

Saturday

Sunday

Week 1

Monday

Tuesday

Wednesday

Thursday

Friday

Saturday

Sunday

Week 2

Monday

Tuesday

Wednesday

Thursday

Friday

Saturday

Sunday

Week 3

Monday

Tuesday

Wednesday

Thursday

Friday

Saturday

Sunday

Week 4

Monday

Tuesday

Wednesday

Thursday

Friday

Saturday

Sunday

Week 5

Monday

Tuesday

Wednesday

Thursday

Friday

Saturday

Sunday

Week 6

Monday

Tuesday

Wednesday

Thursday

Friday

Saturday

Sunday

Week 7

Monday

Tuesday

Wednesday

Thursday

Friday

Saturday

Sunday

Week 8

Monday

Tuesday

Wednesday

Thursday

Friday

Saturday

Sunday

REVISION

Week 10

REVISION

Week 11

REVISION

Week 12

REVSION AND FINAL PREPARATION

Evening study period

Daytime study period

Other commitments

Block out days/half days/

evenings already committed to
family/social events
Plan study periods evenings/
half days/full days, aiming for
roughly one evening/half day
per chapter of your study text
Leave a four week period for the
revision and final preparation
phases

THE EXAM

Week 9

You may need to add or take

away weeks depending on your
own circumstances

FINAL
PREPARATION

Tuesday

REVISION
PHASE

Monday


Calculate the number of weeks
from now until your exam
date and draw up a plan see
the example to the left and a
possible proforma for you to use
on the next page

LEARNING
PHASE

Study plan checklist

APPENDIX

05

GETTING
STARTED

Getting started - Your study plan

Print out and write down when you will study, relax and revise!
Tuesday

Wednesday

Thursday

Friday

Saturday

Sunday

Week 1

LEARNING
PHASE

Monday

Week 2

REVISION
PHASE

Week 3
Week 4
Week 5

FINAL
PREPARATION

Week 6
Week 7
Week 8
REVISION

Week 10

REVISION

Week 11

REVISION

Week 12

REVISION AND FINAL PREPARATION

06

Daytime study period

Other commitments

Colour boxes in your preferred highlighter colours.

APPENDIX

Evening study period

THE EXAM

Week 9

GETTING
STARTED

Getting started - Get to know your exam

LEARNING
PHASE

give you an understanding of the aims and objectives of the exam, learning
These
outcomes and exam structure as well as a comprehensive list of the documents


Scan the F4 (GLO)
specimen exam

specimen exam provides you with a clear picture of how F4 will be assessed and
The
how the exam is structured as well as the likely style and range of questions that you


Listen to the examiner's
approach video

this at the start of your studies will help you understand the focus of the exam
Using
by concentrating on the exam structure, question style, exam technique and tips as

Review the examiner's reports

from the last four sittings

provide feedback on students performance after each exam session, highlight

These
problem areas that students need to improve on and tell you what the examining


Scan the exam technique and
syllabus updates articles

articles here cover answering multiple-choice questions, computer-based exam

The
technique and how to prepare for knowledge modules exams you will need to

REVISION
PHASE

examinable for the current exam sittings

could see in the real exam

FINAL
PREPARATION

well as pitfalls to avoid

teams are looking for; these are critical to your success in passing F4 (GLO)
see some of the most recent comments from your examiner over the page

APPENDIX

come back to these during the revision phase but they will provide you with guidance
that will be helpful in attempting questions throughout the learning phase

THE EXAM

07


Review the syllabus
and study guide and the
examinable documents for F4

Comments on
CBE and paper
based exams:

A further point to be made raises

another possible shortcoming in the
way candidates approach the MCQs.
The suspicion is that candidates may
be tempted to skim read questions

and answers and simply do not spent

sufficient time on thinking about
them. Questions are sometimes more
subtle than candidates allow for and
the alternatives to the correct answers
are called distractors for the simple
reason that they are there to undermine
candidates certainty as to the correct
answer. While candidates may well know
the answer to a question, they would be
well advised to do a negative check on
the other possible answers to confirm
their initial response. From the evidence
of the June 2015 paper it would
appear that candidates are not paying
sufficient attention to either the
questions or the answers, with many
questions being incorrectly answered
through simple carelessness. As has
been stated above, time is not an issue
and candidates should not rush through
questions and should certainly resist the
temptation to get into a simple read
and click routine.

THE EXAM

Another more general point to be

made in relation to Section A is the
performance in the first section of the
syllabus: Business, Political and Legal
Systems. This is by far the least well
done section of the syllabus.
While it is perhaps understandable that
candidates find this part of the syllabus
more challenging, in that it relates to
the more conceptual and less obviously
business centred aspects of accountancy
work and involves an understanding
of various legal and quasi-legal systems,
it nonetheless has to be emphasised
that it remains a core aspect of the
syllabus and as such it will always
be examined. Consequently candidates
would be strongly advised not to
undervalue this element of their study.

FINAL
PREPARATION

The present structure replicates

division in the previous
examination structure between
essentially knowledge based
questions and questions requiring,
not merely knowledge,
but analysis and application
in addition.

Comments
Commentson
on
CBE
exams:
Section A:

REVISION
PHASE

In the computer-based
examination format, all questions
are structured so as to be capable
of objective marking, while in the
paper based format, although
section A is marked objectively
by computer, section B is still
marked by subject experts.

LEARNING
PHASE

GETTING
STARTED

Getting started - What the examiner has said about F4 (GLO)

(extracts from June 2015 examiner's report)

APPENDIX

08

GETTING
STARTED

- gain the knowledge you

need; and

- learn how to apply that

knowledge to pass the
exam

FINAL
PREPARATION

REVISION
PHASE

Work through the control

sheet which has been
designed to give you a
structured approach to your
learning phase to ensure you:

LEARNING
PHASE

Your checklist

THE EXAM

09

APPENDIX

Learning phase

 BPP Learning Media - page 12

Kaplan Publishing - page 13

Read through the introduction to

the chapter

Noted any additional commentary

and exam focus tips provided
Worked through and understood
examples and illustrations of
concepts given

Tick the box Questions in the control

sheet once you have:
Attempted the questions referred
to in the Question Bank (if you are using
BPP materials) or the practice questions
at the end of the text (if you are using
Kaplan materials)

Tick the box ACCA related resources in

the control sheet once you have:

THE EXAM

Read / viewed the related ACCA article /

video signposted

FINAL
PREPARATION

Actively read and understood each

chapters content

Attempted the quiz at the end of the

chapter (if you are using BPP material)
or the test your understanding questions
throughout the chapter (if you are using
Kaplan material)

REVISION
PHASE

Tick the box Content in the control

sheet once you have:

Tick the box Quiz/Test in the control

sheet once you have:

LEARNING
PHASE

Use the control sheet relevant to

the Approved Content Provider's
materials you have purchased:

GETTING
STARTED

Learning phase - Get the most out of your control sheet

APPENDIX

10

GETTING
STARTED

Learning phase - Tips for success

LEARNING
PHASE

Tips for success

Keep an eye on Student

Accountant for any
relevant articles.

Try to read a good

quality business journal
or newspaper regularly
and use this to help
bring your studies to life
by linking your learning
into what you are
reading.

APPENDIX

11

If you find you are

not covering all of the
material in each study
period, build some extra
time into your planner
everyone works at a
different pace.

There are PER (Practical

Experience Requirement)
objectives associated
with specific syllabus
areas and, if possible,
you should try to gain
experience in these
alongside your studying
as this will help you to
put your studies into a
workplace context and
reinforce what you have
learned.

THE EXAM

Consider using the

additional resources
provided by the
Approved Content
Providers including for
example passcards or
pocket notes to help
you remember the key
knowledge areas.

Make sure you use the

ACCA resources to help
your understanding
these give you real
insight to help you
in your exam.

Visit the ACCA Learning

Community regularly to
view new video content
and to join online study
events.

FINAL
PREPARATION

Scan headings before

going into the detail
to give you an idea of
the content first and
consider highlighting,
underlining, making
notes, drawing pictures
or mind maps whatever
helps you to remember.

Always work through the

questions signposted
it is vital that you practise
questions throughout
the learning phase as
this will ensure that
you are applying the
knowledge you learn
as you progress.

REVISION
PHASE

Actively read the

material ask yourself
do I understand this?
If not re-read and
re-work examples
if you still struggle,
make a note and come
back to it.

Chapter

Content

Quiz/Test

Questions ACCA related resources

Introduction
2

International trade, legal regulation and conflict of laws

Alternative dispute resolution mechanisms

Contracts for the international sale of goods

Obligations and risks in contracts for international sales

Transportation document and means of payment

Agency law

Partnerships

Corporations and legal personality

ICC introduces new international

commercial terms
REVISION
PHASE

Business, political and legal systems

LEARNING
PHASE

tick the boxes below when complete

1

GETTING
STARTED

Learning phase - Control sheet for Becker Professional Education

10 Company formation
FINAL
PREPARATION

11 Constitution of a company
12 Share capital
13 Loan capital
14 Capital maintenance and dividend law
15 Company directors
16 Other company officers
17 Company meetings and resolutions
19 Fraudulent and criminal behaviour

Bribery Act 2010

THE EXAM

18 Insolvency and administration

APPENDIX

12

Chapter

Content

Quiz/Test

Questions ACCA related resources

Introduction
2

International Commercial Arbitration

International business transactions: formation of the contract

International business transactions: obligations

International business transactions: risk and payment

International business forms agency

Types of business organisation

Corporations and legal personality

Capital and financing

ICC introduces new international

commercial terms
REVISION
PHASE

Essential elements of legal systems

LEARNING
PHASE

tick the boxes below when complete

1

GETTING
STARTED

Learning phase - Control sheet for Kaplan Publishing

10 Directors
12 Insolvency
13 Corporate and fraudulent behaviour

Bribery Act 2010

FINAL
PREPARATION

11 Corporate admission

THE EXAM
APPENDIX

13

GETTING
STARTED

Revisit areas you struggled with

during the learning phase

Make sure you are able to apply

that knowledge in questions

REVISION
PHASE

Ensure you are confident with

the knowledge needed to pass
the exam

LEARNING
PHASE

Your checklist

FINAL
PREPARATION
THE EXAM
APPENDIX

Revision phase

GETTING
STARTED

Revision phase Question practice

Dont be afraid to
attempt questions you
have already done
especially the ones
you found tricky first
time round.

Work through the

answers carefully
pay attention to areas
you got wrong and
understand where
you went wrong it
is better to do a few
questions well than lots
of questions badly.
Try not to look at the
answers before really
attempting the question
you won't be able to
do this in the real exam!

THE EXAM

It is really important that

you do some questions
in full, to exam time
time management
is often an issue and
the more you prepare
yourself the better
you will perform in the
exam.

To keep motivation
high, break some
questions into individual
parts, write plans or
notes for some parts
and do others in full.

FINAL
PREPARATION


Work through the specimen exam
this will provide you with a clear
picture of what the exam will look
like making sure you know what
to expect on the day

Consider blocking time

in your study plan for
specific questions or
mock exams to ensure
you cover everything.

REVISION
PHASE

W
 ork through as many questions
as possible and all mock exams
included in the Approved Content
Provider question and answer
banks - remember these are best
for question practice as they include
past exam questions updated for
syllabus and format changes

Tips for success

LEARNING
PHASE


Exam-standard question practice
is vital now

APPENDIX

15

GETTING
STARTED

Revision phase Key resources

Tips for success


Read the exam technique and
syllabus updates articles this time
linking into what you have learnt

Dont miss the

specimen exam this
is a full example of the
exam available for both
paper and CBE format
and replicates the exam
environment attempt
in full to time.

THE EXAM


Make sure you read the study skills
articles in Student Accountant
covering topics such as how to
overcome exam anxiety as well as
checking the Student Accountant
Hub for any new technical articles
related to F4

Think about purchasing

a Practice Test practice
makes perfect and,
even better, you get
personalised feedback
diagrams highlighting
your strengths and
weaknesses, so you can
refine your revision.
See the PER video on
the student section of
the website for more
information on how
useful these can be
for your revision.

FINAL
PREPARATION

Dont give up easily

if you really cannot
understand something
then consider posting a
question on the ACCA
Learning Community
if you found it difficult
so will others.

REVISION
PHASE


Remind yourself of areas that
students often struggle with and
obtain tips on how to ensure you
do not make the same mistakes by
reviewing the examiner's reports
from the last four sittings again

LEARNING
PHASE


Listen to the examiner's approach
interview again in the context of
what you have learned

APPENDIX

16

Comments on
section A
as all aspects of the syllabus can
be examined in one exam.

Previously candidates were faced with

an extended problem scenario, involving
many issues. Now scenarios are shorter,
and questions are subdivided and more
focussed. What the questions under the
new structure seek to do is to encourage
candidates to demonstrate their
understanding of, and ability to, apply
particular legal principles and concepts.

FINAL
PREPARATION
THE EXAM

However, it has to be recognised

that the new structure requires
candidates to be aware of more
detailed information than perhaps
was required previously. Thus
for example, whereas previously
it was rare for agency law to be
examined other than as an aspect
of the law relating to company
officers, now, as a topic in its
own right the details of that topic
will be required to be covered.
Similarly, as regards the topic
of directors duties, whereas
previously it might have been
possible for candidates
to have dealt with a 10 mark
question rather superficially
but still gain sufficient marks
to pass, now the structure
of questions requires a precise
command and understanding
of the fine detail of the topic.

This element of the examination requires

both analysis and application, which skills
traditionally have not been to the forefront
of candidates abilities. At least to a
degree, it has to be recognised that such
weaknesses remain, but the new structure
has gone some way to mitigate the
consequences.

REVISION
PHASE

As was hoped, this knowledge

part of the exam appears to
have benefited the majority of
candidates, who traditionally
have been stronger in fact based
questions than in legal analysis.
It was feared that the extension
of the field of material to be
covered might prove a difficulty
but that has not been supported
by the evidence of candidates
performance. It would appear that
candidates have benefited from
the recognition that they will be
examined over a wider spectrum
of the curriculum rather than on,
as previously, a specific and quite
narrowly circumscribed aspect of
the syllabus. Whereas previously
candidates engaged in topic, and
even worse question, spotting to
no little damage to their results
when they got it wrong, now it
would appear that they realise
that there is nothing to be gained
in such an exercise

Comments on
section B

LEARNING
PHASE

GETTING
STARTED

Revision phase - What the examiner has said about F4 (GLO)

(extracts from December 2014 examiner's report)

APPENDIX

17

GETTING
STARTED

You are clear on the knowledge

you need to pass the exam
as well as how to apply that
knowledge

the exam format

FINAL
PREPARATION
PREPERATION

Ensure you are

familiar with:

REVISION
PHASE

You have the skills you need

to pass the exam eg
time management

LEARNING
PHASE

Your checklist

the style of questions

what specific syllabus areas
are likely to be tested and in
which questions

18

APPENDIX

Final preparation

THE EXAM

the way the marks are allocated

GETTING
STARTED

Final preparation - Tips for success

An extract from the

F4 (GLO) specimen
exam marking guide

Candidates should support

their answers on the paperbased multi-task questions with
analysis referring to cases
or examples. There is no need
to detail the facts of the case.
Remember, it is the point of law
that the case establishes that is
important, although knowing
the facts of cases can be
helpful as sometimes questions
include scenarios based on
well-known cases.

(a) 34 marks for a complete explanation of

the different types of director and a correct
application of Ger and Kim.
12 marks for some understanding but
lacking either application or explanation.
0 marks for no understanding of the
substance of the question.

Further it is not necessary to

quote section numbers of Acts.

(b) 1 mark for each relevant point made relating

to the role/function of non-executive
directors, up to the maximum 2 marks.
Section B Question 5:

19

If you are unsure about the exam

format, the style of questions
or what specific syllabus areas
are likely to be tested in which
questions, read the Syllabus and
Study Guide again.
If you are not sure about how the
marks are allocated review the
specimen exam again.

APPENDIX

(b) 4 marks for a full answer clearly distinguishing

the two types of activity and correctly
applying them.
1 mark for any relevant point made relating
to either partys action.
1 mark each for correctly stating how each
provision will be applied to the parties.

Go over questions again that you

found difficult during the revision
phase and make sure you attempt
at least one mock again
in full to time.

THE EXAM

(a) A full answer distinguishing between

fraudulent and wrongful trading is required
for both marks to be given.
1 mark for any relevant point made relating to
either action.

Tips for success

FINAL
PREPARATION
PREPERATION

Section B Question 4:

REVISION
PHASE

Note on case law:

LEARNING
PHASE

An extract from the

Syllabus and study
guide for F4 (GLO)

GETTING
STARTED

Make sure you are ready to

walk into your exam

LEARNING
PHASE

Your checklist

REVISION
PHASE
FINAL
PREPARATION

THE EXAM

20

APPENDIX

The Exam

GETTING
STARTED

The Exam - Tips for success

21

Try not to get into

discussions with fellow
students just before
the exam about what
might come up again
this will only cause
you stress.

Don't forget to take

your exam docket with
you as well as your
student identification.
Eat properly before you
leave for the exam.
Sleep properly do not
spend the night before
doing last minute late
night revision you will
perform so much better
if you are alert and

Once the exam is over:

Relax.
Don't over
analyse - you
cannot change
anything now!

APPENDIX

Good
Luck!

Ensure you have all the

equipment you need for
the exam (black pens,
calculator etc).

THE EXAM

Plan your route to the

CBE centre or exam
hall, considering the
time of day you will
be travelling and any
potential issues.

well rested (and in

any case, last minute
revision will only cause
you to panic!).

FINAL
PREPARATION

Identify where the

CBE centre (if you
have entered for the
computer based exam)
or exam hall (if you have
entered for the paper
based exam) is.

Have in place a back-up

plan in case of traffic
problems or public
transport delays.

REVISION
PHASE

Very few students enjoy

taking exams but there
are things you can do
to make the experience
less stressful!

LEARNING
PHASE

Tips for success

GETTING
STARTED

LEARNING
PHASE

REVISION
PHASE

FINAL
PREPARATION
THE EXAM

22

APPENDIX
APPENDIX
LINKS

Appendix Links

GETTING
STARTED

Appendix Links

04

Enter for your exam

http://www.accaglobal.com/gb/en/student/acca-qual-student-journey/exams/enter-an-exam.html

04, 11, 15

Approved Content Provider

http://www.accaglobal.com/gb/en/learning-provider/learningproviders-alpc.html

04

ACCA Learning Community

https://www.accalearningcommunity.com/

04

Student Planner App

http://www.accaglobal.com/gb/en/student/apps.html

04

Exam resource finder

http://www.accaglobal.com/gb/en/student/exam-support-resources.html

04

Student section

http://www.accaglobal.com/gb/en/student.html

07, 15, 16, 19

Specimen exam

http://www.accaglobal.com/gb/en/student/exam-support-resources/fundamentals-exams-study-resources/f4/specimen-exams/f4global-glo-specimen-exams.html

07, 16

Examiner's approach video

http://www.accaglobal.com/gb/en/student/acca-qual-student-journey/qual-resource/acca-qualification/f4/examiners-reports.html

07, 16

Examiner's reports

http://www.accaglobal.com/gb/en/student/acca-qual-student-journey/qual-resource/acca-qualification/f4/examiners-reports/
global.html

07, 19

Syllabus and study guide

http://www.accaglobal.com/gb/en/student/acca-qual-student-journey/qual-resource/acca-qualification/f4/acca-f4-syllabus-studyguide.html

07, 16

Exam technique and syllabus updates articles

http://www.accaglobal.com/gb/en/student/acca-qual-student-journey/qual-resource/acca-qualification/f4/technical-articles.html

12, 13

ICC introduces new International Commercial Terms http://www.accaglobal.com/gb/en/student/acca-qual-student-journey/qual-resource/acca-qualification/f4/technical-articles/iccintroduces-new-international-commercial-terms.html

12, 13

Bribery Act 2010

http://www.accaglobal.com/gb/en/student/acca-qual-student-journey/qual-resource/acca-qualification/f4/technical-articles/
bribery-act-2010.html

16

Practice test

http://www.accaglobal.com/gb/en/student/acca-qual-student-journey/exams/preparing-for-exams/practice-tests.html

FINAL
PREPARATION

URL

REVISION
PHASE

Link

LEARNING
PHASE

Page No.

THE EXAM
APPENDIX
APPENDIX
LINKS

23