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1 ACCA > ABCD > Flashcards

ABCD Flashcards

1
Q

3 Leadership theories

A

trait: born w/ traits
Behavioural: patterns of behaviour
contingency: the environment affects type of leader needed

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2
Q

2 Leadership styles

A

transformational: touches lives
transactional: focuses on systems

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3
Q

entrepeneurship

A

businesses set up by individuals wanting to take risks

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4
Q

intrapeneurship

A

integrates risk taking amongst employees within a company

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5
Q

WHY is a firm unable to adapt to change

A

cultural wen

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6
Q

corporate code of ethics

A

set by business

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7
Q

professional code of ethics

A

set by profession

IESBA code of ethics

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8
Q

UK ethics

A

principal based approach,

allows room for interpretation

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9
Q

USA ethics

A

SOX approach,

if broken, law is broken

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10
Q

IS profit being made in an ethical way?

A

Tuckers 5 Qs

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11
Q

IS this a good strategy?

A

JSW Model

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12
Q

ANALYSE macroenvironment of firm

A

PESTEL

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13
Q

WILL this allow the firm to be global or move locations?

A

Porters diamond

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14
Q

SHOULD I enter this market?

A

Porters five forces

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15
Q

CUSTOMER analysis?

A

segmentation, motivation and unmet needs

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16
Q

ACHIEVE performance requirements and fundamentals to success

A

CSF and KPI for products and services

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17
Q

WHICH activities contribute to competitive advantage?

A

value chain

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18
Q

ASSESS strategic objectives

A

SFA

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19
Q

WHERE to allocate cash?

A

BCG Matrix

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20
Q

HOW to grow?

A

Ansoff Matrix

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21
Q

Corporate Governance

A

the system by which companies are directed and controlled

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22
Q

Agency - Principal theory

A

directors, managers, auditors VS shareholders

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23
Q

Agency Costs

A

Costs arising from agent acting on behalf of principal

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24
Q

Corporate Stakeholder

A

Someone that is affected by actions of corporation

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25
Q

Internal Stakeholder

A

director, employee, management

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26
Q

External Stakeholder

A

auditors, government, regulators

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27
Q

WHICH stakeholders shall we focus on?

A

Stakeholder Map

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28
Q

CSR 5 aspects

A 
operate ethically
treat employees fairly
respect human rights
responsible citizen
sustain environment
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29
Q

insider system

A

family run

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30
Q

outsider system

A

principal, agent

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31
Q

AGM

A

required annually

32
Q

AGM

A

required annually by law to go over election of directors and appointment of auditors

33
Q

EGM

A

extraordinary general meeting,

usually called on short notice to deal with an urgent matter

34
Q

FCA full cost accounting for sustainability

A

takes into account economic, environmental and social costs of production
need lots of data, how to cost environ and social costs

35
Q

TBL triple bottom line accounting for sustainability

A

report 3 aspects, economic indicators, environmental indicators and social indicators. Recognise issues in business model (rather than accounting for them as costs)

36
Q

IR - Integrated Reporting

A

IR is the future of accounting, it focuses on the future and how to add value, information is accessible to everyone.
Very resilient and identifies critical relationships

37
Q

Board of directors: multi tier

A

1 board of execs and 1 board of NEDs
clear and formal separation
BUT execs may have too much power

38
Q

NED role

A

challenge strategy, monitor performance, decide on remuneration of ex directors

39
Q

reasons for main committees

A

to delegate time consuming and detailed work

separate aspects where they may have conflict of interests

40
Q

main committees

A

remuneration
nomination
audit and risk

41
Q

Public sector governance focus - 3 E’s

A

economy, on budget
effectiveness, deliver whats planned
efficiency, deliver an acceptable return

42
Q

NGO’s non governmental organisations

A

task oriented, usually with humanitarian function, e.g. red cross

43
Q

remuneration committee

A

remuneration should be sufficient enough to attract people and provide an incentive to work hard

44
Q

audit committee

A

should oversee internal audit, liaison with external auditors and all members should independent

45
Q

nominations committee

A

identify candidates with the correct background and skills to fill the committee

46
Q

public sector governance

A

carry out activities on behalf of those that pay taxes, problem is how much should be allotted to what activities

47
Q

environmental management system EMS

A

aims may be to :

minimise environmental impact, comply with laws and regulations, make continual improvements

48
Q

Mendolow Matrix

A

-

49
Q

Board of directors: unitary board

A

UK and US have this structure, one whole board of directors and half should be NEDS, they all contribute and have legal status

50
Q

responsibility of board of directors

A

skill, care, attendance, no conflicts of interest and no personal gain

51
Q

Directors remuneration componenets

A 
basic salary
bonuses
shares, share options
benefits
pensions
52
Q

risk committee

A

approve organisations risk management and risk policy

53
Q

risk definition

A

risk is associated with the possibility that things might go wrong

54
Q

risk management

A

process of managing all kinds of risks that an organisation might face

55
Q

speculative risk

A

the outcome could be positive or negative

56
Q

pure risk

A

the outcome can only be negative

57
Q

fundamental risk

A

the risks that impact society as a whole or a large group of people

58
Q

particular risk

A

risks by choice of action, where individuals have control

59
Q

risk appetite

A

set by the board and is the level of risk you should take

60
Q

risk management process

A

identification: list
analysis: prioritise
planning: contingency
monitoring: assessment

61
Q

COSOERM

A

strategic, operations, reporting and compliance

62
Q

Key risk

A

market, product, environmental, financial, political

63
Q

operational risks

A

relates to matters that can go wrong on a day to day basis

64
Q

strategic risks

A

risks relating to the fundamental and key decisions that directors make about the future

65
Q

business risk

A

relating directly to the business e.g. product, currency, interest rate, political

66
Q

financial risk

A

gearing risk and liquidity risk

67
Q

risk appetite is based on

A

risk capacity (amount) and risk attitude (extent)

68
Q

analysing risk

A

analyse the impact AND likelihood which allows more control over impact

69
Q

risk manager

A

provides info, assistance and advice on how to improve risk awareness

70
Q

risk managers activities

A

identifies risk, prepare risk reports and establishes models for risk assessment

71
Q

risk awareness

A

crucial at all parts of an organisation, ensures people know what to do when a risk occurs

72
Q

embedding risk

A

effective communication and lack of blame culture

73
Q

hedging

A

equal and opposite = neutralises risk

hedging is the theory to create an opposite situation to get rid of risk

74
Q

TARA

A

transfer, avoid, reduce and accept

75
Q

Ansoff Matrix (risk)

A

market penetration is least riskiest

diversification is most risky

1 ACCA (4 decks)

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