ACCA – Corporate and business law (GLO) (LW)

This subject helps you develop knowledge and skills in the understanding of the general legal framework within which international business takes place, and of specific legal areas relating to business, recognising the need to seek further specialist legal advice where necessary.

Corporate and Business Law Global is divided into eight areas. The syllabus starts with an introduction to different legal systems, different types of law and those organisations which endeavour to promote internationally applicable laws. It also introduces arbitration as an alternative to court adjudication. It then leads into an examination of the substantive law as stated in UN Convention on Contracts for the International Sale of Goods, which relates to the formation, content and discharge of international contracts for the sale of goods.

The syllabus then covers a range of specific legal areas relating to various aspects of international business of most concern to finance professionals. These are the law relating to the financing of international transactions, and the various legal forms through which international business transactions may be conducted. Particular attention is focused on the law relating to companies. Aspects examined include the formation and constitution of companies, the financing of companies and types of capital, and the day–to-day management, the administration and regulation of companies and legal aspects of insolvency law.

The final section links back to all the previous areas. This section deals with corporate fraudulent and criminal behaviour.

Syllabus structure

• Essential elements of legal systems
• International business transactions
• Transportation and payment of international business transactions
• The formation and constitution of business organisations
• Management, administration and the regulation of companies
• Insolvency law
• Corporate fraudulent and criminal behaviour

Main Capabilities

On successful completion of this subject, you should be able to:

• Identify the essential elements of different legal systems including the main sources of law, the relationship between the different branches of a state’s constitution, and the need or international legal regulation, and explain the roles of international organisations in the promotion and regulation of international trade, and the role of international arbitration as an alternative to court adjudication.
• Recognise and apply the appropriate legal rules applicable under the United Nations Convention of Contracts for the International Sale of Goods and explain the various ways in which international business transactions can be funded.
• Recognise different types of international business forms.
• Distinguish between the alternative forms and constitutions of business organisations.
• Recognise and compare types of capital and the financing of companies.
• Describe and explain how companies are managed, administered and regulated.
• Recognise the legal implications relating to insolvency law.
• Demonstrate an understanding of corporate fraudulent and criminal behaviour.

The ACCA qualification is ideal for people who want a career in finance and business.

The Corporate and business law (GLO) (LW) exam is part of the Applied Knowledge Level of the ACCA qualification. If you are graduated with a degree accredited by ACCA you are exempt from this subject.