Pass ACCA – Key to success – A Guide to ACCA Papers

Quick Guide to how to approach and pass ACCA Papers

ACCA Paper F1 – Key to success

Nature of the ACCA F1 paper
ACCA F1 Paper – Accountant in Business – is a foundation paper which introduces a wide range of accounting and business terminology, and information about the business environment. The syllabus is very wide, but not deep.
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ACCA F2 Paper – Key to success

Nature of the ACCA F2 paper
ACCA Paper F2 – Management Accounting –is concerned with managing the business so as to achieve better performance. It includes topics such as how to calculate the cost of producing items in a manufacturing company, the preparation of budgets, and the calculation of variances as a way of trying to control costs.
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See also:

From ACCA – Exam Technique
Download ACCA Candidate Answer Booklet front sheet

ACCA Paper F3 – Key to success

Nature of the ACCA F3 paper
ACCA F3 Paper – Financial Accounting –is concerned with the preparation of financial accounts. The topics examined cover everything from basic double entry through to the preparation of statements of cash flows, and basic consolidated accounts.
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ACCA Paper F4 – Key to success

Nature of the ACCA F4 paper
ACCA F4 Paper – Corporate and Business Law – aims to develop an understanding of
the workings of a legal system with particular reference to the law relating to business.

It is worth remembering that this is a law exam for accountants – it is NOT
a law exam for lawyers. As such, it is intended to prepare students so they
may recognise situations where specialist legal advice should be sought.
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ACCA Paper F5 – Key to success

Nature of the ACCA F5 paper
ACCA F5 Paper – Performance Management – continues from Paper F2 and is concerned with managing the business so as to achieve better performance. Most of the topics were introduced in Paper F2, but are examined in more detail and to a greater depth.
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ACCA Paper F6 – Key to success

Nature of the ACCA F6 paper
The syllabus for ACCA F6 Paper, Taxation, introduces candidates to the subject of taxation and provides the core knowledge of the underlying principles and major technical areas of taxation as they affect the activities of individuals and businesses.
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ACCA Paper F7 – Key to success

Nature of the ACCA F7 paper
ACCA F7 Paper – Financial Reporting – is a step up from the double entry
bookkeeping learned at F3 and is a link leading to P2 advanced Corporate
Reporting. It extends the appreciation of the preparation of consolidated
financial statements and examines a student’s ability to prepare and / or
interpret a business’ performance from a set of financial statements.
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ACCA Paper F8 – Key to success

Nature of the ACCA F8 paper
ACCA F8 Paper – Audit and Assurance – is primarily concerned with the purpose, process and outcomes of auditing. There is some follow-on from paper F1, but all matters are covered again in F8.
Structure of the ACCA F8 paper
Question 1 – 30% (primarily scenario based)
Question 2 – 10% (factual)
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ACCA Paper F9 – Key to success

Nature of the ACCA F9 paper
ACCA F9 Paper – Financial Management – is concerned with managing the finances of a business. Some topics were introduced in Paper F2, particularly discounted cash flow and inventory control. These, and other new topics, are examined at a higher level.
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ACCA Paper P1 – Key to success

Nature of the ACCA P1 paper
ACCA P1 Paper – Governance, Risk and Ethics – aims to develop a student’s knowledge and the skills to be able to exercise professional judgement and ethics in practical situations which they will inevitably face as qualified accountants.
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ACCA Paper P2 – Key to success

Nature of the ACCA P2 paper
ACCA P2 Paper – Corporate Reporting – a ( big ) step up from F7 Financial Reporting – is to apply knowledge and skills and to exercise professional judgement in the application and evaluation of financial reporting principles and practices in a range of differing business situations.
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ACCA Paper P3 – Key to success

Nature of the ACCA P3 paper
ACCA P3 Paper – Business Analysis – is concerned with analysing organisations, devising and deciding on strategic plans for them,  and dealing with some aspects of implementing those plans. There is a significant use of  F5 topics in the analysis and decision-making stages.
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ACCA Paper P4 – Key to success

Nature of the ACCA P4 paper
ACCA P4 Paper – Advanced Financial Management – is concerned with managing the finances of a business, and is a continuation of Paper F9. There are a few new topics to learn, but most of the topics were introduced in Paper F9. [Learn more>>]

ACCA Paper P5 – Key to success

Nature of the ACCA P5 paper
ACCA P5 Paper – Advanced Performance Management – is concerned F2 and is concerned with managing the business so as to achieve better performance. Most of the topics were introduced in Paper F2 and F5, but are examined at a higher level. This does not mean that any calculations are more difficult, but you are now at a management level and should show a greater critical awareness of the difficulties in measuring and management performance.
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ACCA Paper P7 – Key to success

Nature of the ACCA P7 paper
ACCA P7 Paper – Advanced Audit and Assurance – a step up from F8 Audit and Assurance is to analyse, evaluate and conclude on assurance engagements. Where F8 looks at audit procedures and a student is typically in the role of an audit junior or semi-senior, at this advanced level the student is assistant-in-charge, manager or partner.
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