This article is aimed at new ACCA students. Do you have exemptions from any of the first four ACCA examinations (F1, F2, F3 and F4)?
Are you worried for later exams that you might not have covered everything at university, even though you are exempt?
Below are details of which topics are examined again in later examinations and which you should therefore make sure you are happy with.
Paper F1 – Accountant in Business
Although this paper does underpin the later examinations P1 and P3, you will learn what is needed for these two papers when you come to study for them.
The background knowledge that you will have from University is sufficient – there is no need to study this paper if you are exempt.
Paper F2 – Management Accounting
This paper leads directly to Papers F5 and F9 and a great deal of the syllabus is assumed knowledge for these later papers – especially for F5.
The best way of making sure that you are familiar with all the important topics is to download the Course Notes from Opentuition and work through them.
In theory, all of the topics in F2 can be tested again in later papers.
Process Costing (Chapters 6, 7, 8 and 9 of the Course Notes) is unlikely and you should pay less attention to this area.
Variance Analysis (Chapter 16 of the Course Notes) is extremely important. It is always very likely to be asked in Paper F5. When you study for F5 you will cover additional variance analysis also, but it is vital that you are happy with the ‚basic‘ variance analysis in Paper F2.
This is the most important of the first four papers in terms of needing the knowledge for later exams. Paper F5 in particular has an enormous syllabus which includes most of Paper F2.
See also:
From ACCA – Exam Technique
Download ACCA Candidate Answer Booklet front sheet
Paper F3 – Financial Accounting
This paper leads directly to Paper F7 and most of the syllabus is assumed knowledge for F7.
As with Paper F2, the best way of making sure that you have covered everything is to download the Course Notes from Opentuition and work through them.
If you are exempt from Paper F3 then you should certainly find the chapters on basic bookkeeping (chapters 1 to 7) easy. However, depending which language you studied in at University you might not be aware of some of the terminology, and if this is the case do work through the chapters properly.
Accounting for Limited Companies (chapter 11) and Statements of Cash Flows (chapter 12) are extremely important as an introduction to Paper F7 and you must make sure that you are completely happy with these.
You should look quickly at the other chapters also – especially those relating to Accounting Standards.
Paper F4 – Corporate and Business Law
None of the later papers examine law directly, and although the later accounting and auditing papers assume an awareness that there are laws relating to accounting and auditing you will already have sufficient knowledge from your studies at University (assuming that you are exempt from F4!).
There is therefore no need to study anything from this paper.
Hi
I wanna study ACCA but I do not want to use my exemtions this yea as I do not afford to pay the pertinent fee.
please tell me whether i can postpone my exemptions for next year or not?
Thanks for clarifying the doubt related F1, F2, F3 & F4 exam paper
I have been given exemption for the F1 till F4, but when I received the confirmation email from ACCA, they said, since I have passed my previous papers 10 years ago. The BSC Honors degree won’t be accepted with these exemption, should you avail the it.
I am now thinking to retake these 4 papers of Foundation Stage.
Is this a wise move? Since I wanted to have BSC Honors degree as well, at a later stage.
Hi Shahza,
I got the same email with the exemption approval, I spoke to an FCCA and also to their support centre. All it means is that if you want to get an audit practising certificate after your completion, but you can accept them for now and in the future, if you would like to get a certification, you could give this papers then. The choice is yours as to whether to give it now or later.
Hello team,
I need your honest opinion. I want to signup and do my F1 and F2 come march2018 but I have been discourage by many people including those who studied accounting in their undergraduate that I will not be able to pass because I do not have a background in it. Kindly give me your expert opinion as I am starting to question my decision of doing ACCA
Nope..you can do it…I started this year f1 to f4 self studied and I have three kids two of which are babies, I study after 9 or 10 for 2 to 3hrs,no accounting background…just tried hard to learn and understand…you can do it…believe in yourself and put yr mind to it…one step at a time…
F2 MA2 together need some tips
I am giving F5 and F7 in March 2016. I am having exemption in 6 papers. F1 to F4, F6 and F8. Is F6 and F8 paper knowledge required for further papers and if required, then to what extent?
F6 leads in to P6 Advanced Taxation but if you choose not to do tax as an option paper then there’s no worry about F6
F8 leads in to P7 but, again, if you choose not to tackle P7 as an option choice then again there’s no worry
on which degree you got exemption of f6?
Hello. I am new in ACCA and I have materials till August 2015. And I want to know is there changes in new book or I can study with the books which I have?
Thanks in advance
I forgot to say that it`s about F1
Best is to ask this in the F1 Ask the Tutor Forum.
Then our F1 tutor will see it, and he will be able to answer you 🙂
Very useful, thanks!
I was exempt from F1 to F5!
Follow this article, I will study through the F3 so that I can study the F7 well.
Wise decision!
Can someone help me please. I am new student in acca studying f1 anf f2 .. i want to know how much of hours should i study on daily basis for both papers Along with acca i am also doing graduation………….. I am applying for exam this December 2015 for f1 and f2. Waiting for reply ..
Thank you
hi how are u I can help u..sure ,.
hello … i am attempting F1 this month end what exam or preparation tips would you give??