ACCA LW (Corporate and Business Law): Exam Guide, Tips and Key Topics
What Is the ACCA LW Paper?
Corporate and Business Law (LW) is the first Applied Skills paper and covers the legal framework within which businesses and accountants operate. It is the only non-numerical ACCA paper and is often described as the most writing-heavy paper in the qualification. Candidates choose between the global variant (LW-GLO) and country-specific variants (LW-ENG, LW-SCT, etc.).
Exam Format
LW is a 2-hour 15-minute computer-based exam. It includes 45 objective test questions (worth 70 marks) and two 15-mark constructed response questions that require written answers. Pass mark is 50%. The constructed response questions are the most challenging part and require clear, structured written answers applying legal principles to scenarios.
Key Topics in ACCA LW
Contract law: Formation of contract, terms, breach, and remedies. Company law: Formation and registration of companies, share capital, directors duties and liabilities, liquidation. Employment law: Employment contracts, dismissal, redundancy, discrimination, and employment tribunals. Agency: Authority of agents, relationship between principal, agent and third parties. Tort law: Negligence and professional liability. Criminal law: Fraud, insider dealing, bribery under the Bribery Act 2010. Insolvency law: Administration, liquidation, voluntary arrangements.
LW Pass Rates
LW pass rates are typically 75-85% globally — among the highest in the Applied Skills level. The written questions in the constructed response section are where most marks are lost; strong time management is essential.
Study Tips for ACCA LW
Understand the principles behind legal rules rather than trying to memorise every detail. For constructed response questions, use the IRAC structure (Issue, Rule, Application, Conclusion). Practice writing concise, structured answers under time pressure. Allow 8-12 weeks of part-time study.
FAQ
Which LW variant should I choose?
Choose the variant relevant to where you work or plan to work. LW-ENG (English law) is the most popular globally. If you plan to practise in Scotland, LW-SCT is more appropriate. The LW-GLO variant covers general principles and is suitable for candidates not based in a specific jurisdiction.
Further Reading
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