Explore ACCA Subjects: A Comprehensive Overview of the Curriculum
ACCA subjects
Explore the diverse world of ACCA subjects, encompassing areas such as accounting, finance, taxation, auditing, and business management. Delve into each subject's intricacies and relevance in the professional accounting landscape
That is why we have compiled this comprehensive ACCA subjects list to help you understand what you need to know and how to prepare for the ACCA.
You can find out exactly what are the subjects and syllabus for the ACCA exams by reading this article.
Lets start by explaining the ACCA exam levels.
ACCA Exam levels
The ACCA exams consists of three levels. Each of these modules has its own subjects to master to pass the ACCA examinations.
- The Knowledge Module focuses on knowledge and understanding,
- The Skills Module focuses on application and analysis.
- The Professional Module focuses on evaluation and synthesis.
Now lets look at the subjects under these three levels
ACCA Books: Your Passport to Acing the Exams and Outsmarting the Competition
ACCA Subjects List
There are fifteen ACCA subjects. You need to clear thirteen of these to clear the ACCA qualification.
We have grouped the papers by level as under
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Papers by Level
- Knowledge level subjects- three papers F1- F3
- Skill level subjects - six papers F4- F9
- Professional level subjects - 4 papers (out of six) P1- P6
The ACCA subjects list under these three levels is listed below, we describe them in detail under the heading ACCA subject details below.
- Business and Technology (BT) - F1
- Management Accounting (MA) - F2
- Financial Accounting (FA) - F3
- Corporate and Business Law (LW) - F4
- Performance Management (PM) - F5
- Taxation (TX) - F6
- Financial Reporting (FR) - F7
- Audit and Assurance (AA) - F8
- Financial Management (FM) - F9
- Strategic Business Leader (SBL) - P1
- Strategic Business Reporting (SBR) - P2
- Advanced Financial Management (AFM) - P3
- Advanced Performance Management (APM) - P4
- Advanced Taxation (ATX) - P5
- Advanced Audit and Assurance (AAA) - P6
Read our blog on how much it the ACCA course costs
ACCA subject wise details
We will share a small write up of all subjects to give you an overview.
Everything You Need to Know About ACCA Course & Fees in India
ACCA Applied Knowledge subjects
The Applied Knowledge exams are designed to provide students with a broad introduction to the world of finance and develop their essential understanding of accounting. These subjects are designed to give you a comprehensive understanding of the fundamentals of accounting and finance.
The Syllabus for the exams changes every September.
There are three exams at this level.
Business and Technology (BT)
Business and Technology will teach you how to be a better business person by understanding the different aspects that go into running an organization. You'll learn about ethical behaviour regarding employment practices and economic influences like competition law or tax codes; these classes cover what it takes for success and contain essential lessons on integrity too!
The broad syllabus areas encompass:
- Business organization and its external environment
- Organizational structure, culture, governance, and sustainability
- Business functions, regulation, and technology
- Leadership and management
- Personal effectiveness and communication in business
- Professional ethics
Management Accounting (MA)
The course will teach you how to manage finances in an organization so that it can support businesses with their overall performance. You'll learn about different techniques for planning, controlling and monitoring business activities from finance professionals with years of experience leading companies worldwide into a success!.
The broad syllabus areas encompass:
- Understanding the nature, source, and purpose of management information
- Utilizing data analysis and statistical techniques
- Applying cost accounting techniques
- Implementing budgeting strategies
- Employing standard costing methods
- Evaluating performance through measurement techniques
Financial Accounting (FA)
Upon completing this exam, you will be able to demonstrate technical proficiency in using and interpreting basic financial statements. You'll understand how double-entry accounting works with sole traders, partnerships, companies & simple groups alike by learning various required principles when preparing any type or size report!
Browse our collection of ACCA books for the knowledge level
The broad syllabus areas encompass:
- Understanding the context and purpose of financial reporting
- Applying accounting principles, concepts, and qualitative characteristics
- Implementing double-entry and accounting systems
- Recording transactions and events accurately
- Conducting reconciliations effectively
- Compiling a trial balance for review
- Generating financial statements accurately
- Crafting basic consolidated financial statements
- Interpreting financial statements for analysis
ACCA skills level subjects
The Applied Skills exams will help you build on your existing knowledge and understanding of finance to develop solid and broad skills necessary for success in any industry.
The skills subjects are designed to test your ability to apply your knowledge and understanding to practical situations,
The Syllabus for the exams changes every September except Tax which changes every June.
There are six exams at this level, and they are.
F4 Corporate and Business Law (LW)
You'll develop knowledge and skills in understanding the general legal framework and specific areas that relate to your business.
The broad syllabus areas encompass:
F5 Performance Management (PM)
The course will teach management accounting principles and how they can be applied in different aspects such as planning, decision making for performance evaluation or control. This exam requires an underpinning knowledge from the Management Accounting exam at the Knowledge level.
The broad syllabus areas encompass:
- Exploring management information systems and data analytics
- Applying specialist cost and management accounting techniques
- Utilizing decision-making techniques effectively
- Implementing budgeting and control strategies
- Evaluating performance measurement and control methods
- Enhancing employability and technology skills for the modern workplace
F6 Taxation (TX)
The course will help you develop your knowledge and skills relating to the tax system as it applies to individuals, single companies or groups of companies. The syllabus changes every June unlike other ACCA subjects which changes every September. TX follows FA 23 for exams Jun 24 to March 25
The broad syllabus areas encompass:
- Understanding the UK tax system and its administration
- Calculating income tax and National Insurance contributions (NIC)
- Assessing chargeable gains for individuals
- Examining inheritance tax implications
- Analyzing corporation tax liabilities for businesses
- Understanding Value Added Tax (VAT) regulations
- Enhancing employability and technology skills for tax professionals
F7 Financial Reporting (FR)
You will develop knowledge and skills in understanding accounting standards and the theoretical framework of financial statements preparation, including groups' analysis & interpretation.
The broad syllabus areas encompass:
- Understanding the conceptual and regulatory framework for financial reporting
- Accounting for transactions in financial statements accurately
- Analyzing and interpreting financial statements of single entities and groups effectively
- Preparing financial statements in compliance with standards
- Enhancing employability and technology skills for financial professionals
F8 Audit and Assurance (AA)
The course will teach assurance engagements and how to apply them in your professional regulatory framework. (click here to read passing tips on F8)
The broad syllabus areas encompass:
- Understanding audit framework and regulation
- Planning and conducting risk assessments
- Evaluating internal control systems
- Gathering audit evidence efficiently
- Reviewing findings and reporting results
- Enhancing employability and technology skills for auditors
F9 Financial Management (FM)
As a finance manager in the investment, financing and dividend policy decisions, you will develop knowledge of all aspects of these fields.
Browse our collection of ACCA books for the Applied Skills level
The broad syllabus areas encompass:
- Understanding the financial management function
- Analyzing the financial management environment
- Managing working capital effectively
- Conducting investment appraisals for decision-making
- Securing business finance and funding sources
- Performing business valuations accurately
- Implementing risk management strategies
ACCA professional level papers
These subjects test your ability to evaluate and synthesize information to make decisions. You need to write 4 papers to clear this level.
You will need to write the two essential papers and write any of the two optionals.
The Strategic Professional Level Exams will help you to develop your unique blend of technical, ethical and professional skills.
And if that's not enough, there are also four different options for specialization, which means no two people take these exams the same way!
For students who have completed their CA, the ACCA subjects after CA are the same as the professional level papers
The ACCA course subject exams are
Essentials:
Strategic Business Reporting (SBR)
The Strategic Business Reporting exam requires you to demonstrate your ability to make strategic business reporting decisions and on concepts and theories of how these work within the corporate environment. You will be tested mainly based on knowledge about different types of reports which can lead an organization towards success- so make sure that when taking this test knows exactly what information they need!
The broad syllabus areas encompass:
- Upholding fundamental ethical and professional principles
- Understanding the financial reporting framework
- Reporting financial performance for various entities
- Preparing financial statements for groups of entities
- Interpreting financial statements for diverse stakeholders
- Assessing the impact of changes in accounting regulation
Strategic Business Leader (SBL)
SBL exams assess strategic decision-making and leadership skills. Candidates tackle real-world scenarios, applying business acumen to solve complex problems, demonstrating proficiency in strategic thinking and effective communication."
The broad syllabus areas encompass:
- Leadership: Developing effective leadership skills
- Governance: Understanding corporate governance principles
- Strategy: Formulating strategic plans for organizational success
- Risk: Identifying and managing risks effectively
- Technology and data analytics: Harnessing technology for data-driven insights
- Organizational control and audit: Implementing controls and auditing processes
- Finance in planning and decision-making: Utilizing financial information for decision-making
- Enabling success and change management: Facilitating organizational change initiatives
Options:
Advanced Financial Management (AFM)
You will be expected to exercise financial management skills as a Senior Financial Executive or Advisor in the private and public sectors. These include understanding industry trends and managing risk through sound judgemental practices such as budgeting for future growth.
The broad syllabus areas encompass:
- Role of the senior financial adviser in multinational organizations
- Conducting advanced investment appraisals
- Managing acquisitions and mergers effectively
- Overseeing corporate reorganization and reconstruction
- Implementing treasury and advanced risk management techniques
- Developing professional skills for effective leadership
Advanced Performance Management (APM)
You'll learn how to apply relevant knowledge and skills and exercise professional judgement in selecting the proper techniques for different business contexts while contributing your expertise towards evaluating performance or development strategies within organizations.
The broad syllabus areas encompass:
- Strategic planning and control: Developing strategic plans and overseeing their execution
- Performance management information systems and technology advancements: Implementing and adapting performance management systems to leverage technological developments
- Strategic performance measurement: Evaluating performance against strategic objectives
- Performance evaluation: Assessing the effectiveness of performance management initiatives
Advanced Taxation (ATX)
With significant taxes on financial decisions and situations, you will provide relevant information to individuals about how these affect them. You'll also exercise professional judgement in giving advice that is best for your clients based on the knowledge they have given us so far! The syllabus changes every June unlike other ACCA subjects which changes every September. ATX follows FA 23 for exams Jun 24 to March 25
The broad syllabus areas encompass:
- Advanced Study of UK Tax System: Explore complex topics and stamp taxes.
- Tax Impact Analysis: Assess relevant taxes on various situations and actions.
- Tax Liability Management: Minimize or defer tax liabilities through standard planning.
- Professional Skills Development: Enhance skills for effective tax planning and compliance.
Advanced Audit and Assurance (AAA)
The Advanced Audit and Assurance exam test your skills to see if you are up for the challenges of an assurance engagement. You will be asked questions about what it takes to prepare well and assess the risks involved with different projects/clients. And analyze changes within industries to keep ourselves informed!
The broad syllabus areas encompass:
- Regulatory Environment: Understanding accounting and auditing regulations.
- Professional Ethics: Adhering to ethical standards in accounting practices.
- Quality and Practice Management: Managing accounting firm operations effectively.
- Audit Planning and Execution: Planning and conducting historical financial audits.
- Completion, Review, and Reporting: Completing audits and preparing reports.
- Other Assignments: Handling diverse accounting tasks.
- Current Issues and Developments: Staying updated on industry trends
Browse our collection of ACCA books for the Strategic Professional level.
Conclusion
In order to sit the ACCA exam and become a qualified accountant, you must choose from various ACCA subjects. This blog post has outlined the ACCA Subjects list in detail so that you can make an informed decision about which ones to focus on.
We hope this information proves helpful as you begin your journey to becoming a certified accountant! If you would like to pass the ACCA exams in one go, do browse our ACCA online courses or ACCA approved books.
ACCA Exemptions. Questions? Answers.
The answer to this lies in your context and individual objectives. Theres no one answer for all.
Read our detailed blog on whether ACCA is worth doing after a CA here
For IPCC pass students, you get exemptions from six papers. You will be required to write three exams at the skill level and four exams at the strategic level.
If you have attempted your CA Final and scored 50% in Performance Management, Financial Reporting or Financial Management, you will also be eligible for exemptions in these.
If you are planning to take up ACCA, its always better to start it after your CA for the following reasons
1) You will be exempt from the Applied Knowledge and Applied Skill level exams. So that's nine out of thirteen papers
2) Scholarships are better for a CA than others
3) Focus on clearing your CA first, as doing together both will take away your focus from both.
Take the ACCA during your CA only if you are planning to give up taking the CA exams altogether.
The answer is Yes and No
Yes :
1) Your conceptual clarity needs to be higher
2) The ACCA strategic professional level exams are case study based. This will require skillsets in exam technique and communication
3) Rote learning will not help
4) Marks are awarded for good and bad answers rather than the solution.
No:
1) Unlike CA, you don't need to write in groups. so you can schedule one exam at a time and clear it. You need to score 50% to clear the subject individually
2) You can schedule your papers quarterly
3) Plenty of ACCA resources on-site that will guide you on how to plan your studies.
To become a member of ACCA and qualify as a professional accountant, your must complete the Practical expereince Requirements (PER).
There are three components to the PER:
1) completing 36 months' employment in an accounting or finance-related role or roles
2) achieving five Essentials and at least four Technical performance objectives to the satisfaction of your practical experience supervisorrecording and
3) reporting your PER progress through the onlineMy Experiencerecord.
Since you are already a CA, your articleship expereince should siffuce all points especially towards point 1 and 2. If you are missing out on any of objectives in point 2, you can still gain that though work expereince.
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