ACCA LW — Corporate and Business Law Syllabus 2026
LW at a Glance
LW (formerly F4) covers the legal framework within which businesses operate. It is primarily a conceptual paper with no calculations — the highest mark earners are those who can apply legal principles clearly to scenario-based questions. The paper is available in multiple country variants (English, Global, India, and others).
LW Syllabus 2026 — Core Areas
Area A — Essential Elements of Legal Systems
- Sources of law: statute, case law, common law, and equity.
- The court hierarchy and judicial precedent in English law.
- European Union law and its influence on UK law.
Area B — The Law of Obligations
- Formation of a contract: offer, acceptance, consideration, intention to create legal relations.
- Terms of contracts: conditions, warranties, and innominate terms.
- Breach of contract, remedies, and damages.
- The law of tort: negligence, duty of care, and professional liability.
Area C — Employment Law
- Distinction between employees and independent contractors.
- Rights and obligations under employment law.
- Wrongful dismissal vs unfair dismissal.
- Redundancy and discrimination law.
Area D — The Formation and Constitution of Business Organisations
- Types of business organisation: partnerships, LLPs, companies.
- The company formation process — memorandum, articles of association.
- Lifting the corporate veil and separate legal personality.
Area E — Capital and the Financing of Companies
- Share capital — ordinary, preference shares, and debentures.
- Loan capital and fixed vs floating charges.
- Maintenance and reduction of capital.
- Dividend payment rules and restrictions.
Area F — Management, Administration and Regulation of Companies
- Directors: types, duties, liabilities, and disqualification.
- Company secretary and auditor roles.
- Shareholders' meetings: AGM, EGM, voting.
Area G — Insolvency Law
- Voluntary liquidation (CVL) vs compulsory liquidation.
- Administration and receivership process.
- Priority of payments in insolvency.
Area H — Corporate Governance, Sustainability and Ethics
- Principles of corporate governance — the UK Corporate Governance Code.
- The role of non-executive directors and audit committees.
- Business ethics and sustainability reporting obligations.
LW Exam Format 2026
Section A — OTQs (70 marks)
70 objective test questions (1 mark each). Primarily knowledge recall — definitions, case law, statutory requirements.
Section B — MTQs (30 marks)
3 scenario-based multi-task questions (10 marks each). You'll apply legal principles to realistic business situations.
Expert Study Tips for ACCA LW
1. Don't Memorise Cases — Understand the Principle
The exam tests your ability to apply principles to new scenarios, not recite case names. Focus on what each case stands for, not the exact names of the parties involved.
2. Directors' Duties Are Always Tested
Area F (management of companies) is the most heavily tested area. Know the 7 directors' duties under the Companies Act clearly and be able to identify when each is breached in a scenario.
3. Use the IDAC Method for MTQs
For scenario questions: Identify the legal issue → Define the relevant law → Apply it to the facts → Conclude. This structure earns maximum marks from markers.
4. Section A Is Fast — Don't Overthink
70 OTQs in 84 minutes means you have just over 1 minute per question. If you're unsure, make your best choice and move on. Time management is critical in LW's Section A.
Download LW Resources — Free
Get the official 2026 syllabus or our study notes with case law summaries and mock exam.