The ACCA (Association of Chartered Certified Accountants) is a globally recognized professional accounting body that offers certification programs for finance professionals. The ACCA qualification consists of several exams, including the Business and Technology (F1) exam. In this blog, we will explore what the F1 exam entails, how to prepare for it, and what to expect on exam day.

What is the ACCA F1 exam?

The ACCA F1 exam, also known as Business and Technology, is the foundation exam for the ACCA qualification. It is a 2-hour computer-based exam that consists of 60 multiple-choice questions. The F1 exam aims to test candidates on their knowledge of the business environment and the role of accounting and other key business functions in the modern world.

The topics covered in the ACCA F1 exam include:

• The business organization and structure
• The role of accounting in business
• Key business functions such as marketing, human resources, and operations management
• The impact of external factors such as economic, political, and social factors on business
• Business ethics and corporate social responsibility
• Information technology and its role in business

How to prepare for the ACCA F1 exam?

To prepare for the ACCA F1 exam, candidates should first familiarize themselves with the exam format and content. The ACCA provides study resources, including textbooks, practice questions, and mock exams, to help candidates prepare for the exam. You can access these resources through the ACCA’s official website or through accredited tuition providers.

In addition to using ACCA study resources, candidates should also develop their time management skills and test-taking strategies. It is important to set a study schedule and stick to it, allowing enough time for review and practice questions. Candidates should also take advantage of the mock exams provided by the ACCA and practice timing themselves to simulate the exam experience.

What to expect on exam day?

On exam day, candidates should arrive at the testing center early to ensure a smooth check-in process. The F1 exam is computer-based and candidates will be provided with a computer to take the exam. The exam consists of 60 multiple-choice questions and candidates will have two hours to complete the exam.

During the exam, candidates should read the questions carefully and manage their time effectively. It is important to answer every question, even if you are unsure of the answer, as there is no penalty for guessing. Candidates should also remember to check their answers before submitting the exam to ensure that they have answered all questions and checked for any errors.

In conclusion, the ACCA F1 exam is the foundation exam for the ACCA qualification and tests candidates on their knowledge of the business environment and the role of accounting and other key business functions. By using the ACCA’s study resources, developing time management skills, and practicing test-taking strategies, candidates can prepare themselves for success on exam day.