ACCA Exam Regulations
The exams have to be taken in the following order:
Knowledge > Skills > Essentials > Options
Maximum of four papers to be taken in one sitting
Papers within a module may be sat in any order but ACCA recommends that they should be sat in numerical order
Papers from a variety of levels may be sat at any one time. i.e. Knowledge and Skills or Skills and Essentials
The three Essentials papers do not have to be sat together
Students have 10 years to pass all the examinations
The pass mark for all examinations is 50%
In order to qualify as an ACCA member, any individual registering on the ACCA Qualification will need to complete:
* 14 exams (nine of which are eligible for exemption)
* relevant practical experience, with a minimum of three years
* an online Professional Ethics module (It is recommended that this is studied at the same time as P1).
The ACCA Syllabus
FUNDAMENTALS LEVEL (nine papers in total)
Paper F1, Accountant in Business <PDF Guide>
To develop knowledge and understanding of the business environment and the influence this has on how organisations and accountants operate, and of the role of the accountant and other key business functions in contributing to an efficient, effective and ethical organisation, and to build knowledge and understanding of the basic principles of effective management.
Paper F2, Management Accounting <PDF Guide>
To develop knowledge and understanding of how to prepare and process basic cost and quantitative information to support management in planning and decision-making in a variety of business contexts.
Paper F3, Financial Accounting <PDF Guide>
To develop knowledge and understanding of the underlying principles, concepts and regulations relating to financial accounting and technical proficiency in the use of double-entry accounting techniques, including the preparation of basic financial statements.
Paper F4, Corporate and Business Law <PDF Guide>
To develop knowledge and skills in the understanding of the general legal framework, and of specific legal areas relating to business, recognising the need to seek further specialist legal advice where necessary.
Paper F5, Performance Management <PDF Guide>
To develop knowledge and skills in the application of management accounting techniques to quantitative and qualitative information for planning, decision-making, performance evaluation and control.
Paper F6, Taxation <PDF Guide>
To develop knowledge and skills relating to the tax system as applicable to individuals, single companies, and groups of companies.
Paper F7, Financial Reporting <PDF Guide>
To develop knowledge and skills in understanding and applying accounting standards and the theoretical framework in the preparation of financial statements of entities, including groups, and how to analyse and interpret those financial statements.
Paper F8, Audit and Assurance <PDF Guide>
To develop knowledge and skills in the process of carrying out the assurance engagement and its application in the context of the professional regulatory framework.
Paper F9, Financial Management <PDF Guide>
To develop knowledge and skills expected of a financial manager – relating to issues affecting investment, financing, and dividend policy decisions.
Professional Level (5 papers)
Paper P1, Governance, Risk & Ethics <PDF Guide>
To apply relevant knowledge, skills, and exercise professional judgement in carrying out the role of the accountant relating to governance, internal control, compliance, and the management of risk within an organisation – in the context of an overall ethical framework.
Paper P2, Corporate Reporting <PDF Guide>
To apply knowledge, skills, and exercise professional judgement in the application and evaluation of financial reporting principles and practices in a range of business contexts and situations.
Paper P3, Business Analysis <PDF Guide>
To apply relevant knowledge, skills, and exercise professional judgement in assessing strategic position, determining strategic choice, and implementing strategic action through business process and structural change, coordinating knowledge systems and information technology, and by managing quality processes, projects, and people.
Options Module (2 papers only)
Paper P4, Advanced Financial Management <PDF Guide>
To apply relevant knowledge, skills, and exercise professional judgement as expected of a senior financial executive or advisor, in taking or recommending decisions relating to the financial management of an organisation.
Paper P5, Advanced Performance Management <PDF Guide>
To apply relevant knowledge, skills, and exercise professional judgement in selecting and applying strategic management accounting techniques in different business contexts and to contribute to the evaluation of the performance of an organisation and its strategic development.
Paper P6, Advanced Taxation <PDF Guide>
To apply relevant knowledge, skills, and exercise professional judgement in providing relevant information and advice to individuals and businesses on the impact of the major taxes on financial decisions and situations.
Paper P7, Advanced Audit and Assurance <PDF Guide>
To apply relevant knowledge, skills, and exercise professional judgement in analysing, evaluating, concluding and reporting on the assurance engagement and other audit and assurance issues in the context of best practice and current developments.
To find out more about ACCA go to their web site.