ACCA P1 is the first part of the Professional Level. Here you are expected to perform different skills and approaches to the given material, as the major aims of the Professional Level in general and the Essentials Module particularly is to apply synthesis and evaluation. ACCA P1 paper is devoted to Governance, Risk and Ethics. It means that you have the possibility to progress on to polishing your accounting skills, both soft and hard, in risk management, decision-making and ethical issues of corporate performance.
This ACCA P1 paper consists of five basic parts of your study. They concern the following issues:
- A – governance and its functions resources in the organization;
- B – internal risk control and your role in it as an accountant;
- C – risk identification and evaluation;
- D – accountancy and risk control;
- E – professional ethics; implementation of professional laws and regulations; correspondence of the organization to the standards of society and profession.
There are many ACCA P1 tips. It’s natural that you encounter many problems and hardships while preparing for the exam. There is following information, which can help you to realize the whole process (still, it’s your 10th ACCA examination paper, so you know how it goes). All examination papers of the Professional level are 100% compulsory and consist of 2 sections. The Section A includes compulsory questions, and the Section B offers some choice in answers. To pass the ACCA P1 exam you should answer 50% of the questions correctly. The exam takes three hour and 15 minutes of reading and planning time.
For those ACCA students who take up the ACCA qualification course, there are Approved Learning Partners, who are experienced specialists in the field of international accountancy and management. There are special ACCA P1 events and seminars for you to enlarge your skills and knowledge.