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Complete Details of ACCA Syllabus and Subjects

Complete Details of ACCA Syllabus and Subjects

ACCA syllabus and Subjects : Check out the complete details about ACCA syllabus, ACCA level 1 syllabus, ACCA level 2 syllabus, ACCA curriculum, ACCA subjects, ACCA level 1 subjects, ACCA level 2 subjects, ACCA exam changes.

ACCA level 1 syllabus

ACCA level 1 syllabus: The Fundamentals level is divided into two modules – Knowledge and Skills.

The Knowledge module (F1-F3) introduces students to the core areas of financial and management accounting. This provides the platform from which the other technical accountancy areas will be studied in greater detail in the Skills module. The Skills module (F4-F9) contains six subjects which comprehensively cover the main technical areas that any accountant – regardless of their future career aspirations – are expected to have mastered.

These comprise law, performance management, taxation, financial reporting, auditing, and financial management.

ACCA level 1 syllabus: Knowledge Module

Paper F1 Accountant in Business (AB).The aim of F1 is 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. F1 is the basis for the professional level papers P1 Professional Accountant and P3 Business Analysis. Content: Business organization structure, governance, and management; Key environmental influences and constraints on business and accounting; History and role of accounting in business; Specific functions of accounting and internal financial control; Leading and managing individuals and teams; Recruiting and developing effective employees.

Paper F2 Management Accounting (MA) 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. F2 is the foundation for F5 Performance Management, F9 Financial Management, and P5 Advanced Performance Management. Content: The nature and purpose of cost and management accounting; Cost classification, behaviour, and purpose; Business mathematics and computer spreadsheets; Cost accounting techniques; Budgeting and standard costing; Short-term decision-making technique.

Paper F3 Financial Accounting (FA) 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.

F3 is essential to papers F7 Financial Reporting and P2 Corporate Reporting. Content: The context and purpose of financial reporting; The qualitative characteristics of financial information and the fundamental bases of accounting; The use of double-entry and accounting systems; Recording transactions and events; Preparing a trial balance; Preparing basic financial statements.

ACCA level 1 syllabus: Skills Module

Paper F4 Corporate and Business Law (CL) 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. The law paper is essential before the completion of F7 Financial Reporting and F8 Audit and Assurance. Content: Essential elements of legal systems; The law of obligations; Employment law; The formation and constitution of business organisations; Capital and the financing of companies; Company management and administration; Legal implications relating to companies in difficulty or in crisis; Governance and ethical issues relating to business.

Paper F5 Performance Management (PM) 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. Content: Specialist cost and management accounting techniques; Decision-making techniques; Budgeting; Standard costing and variances analysis; Performance measurement and control.

Paper F6 Taxation Czech (TX) To develop knowledge and skills relating to the tax system as applicable to individuals, single companies, and groups of companies. Content: The Czech tax system; Individual Income Tax Liabilities; Corporate Income Tax Liabilities; Social Security contributions; Value Added Tax (VAT); The obligations of the taxpayer and/or their agents.

Paper F7 Financial Reporting (FR) 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. Content: A conceptual framework for financial reporting; A regulatory framework for financial reporting; Financial statements; Business combinations; Analyzing and interpreting financial statements.

Paper F8 Audit and Assurance (AA) 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. Content: Audit framework and regulation; Internal audit; Planning and risk assessment; Internal control; Audit evidence; Review; Reporting. Paper F9 Financial Management (FM) To develop knowledge and skills expected of a financial manager – relating to issues affecting investment, financing, and dividend policy decisions. Content: Financial management function; Financial management environment; Working capital management; Investment appraisal; Business finance; Cost of capital; Business valuations; Risk management.

Recommended Read:-  ACCA level 1 syllabus

ACCA subjects

Knowledge

This module, which includes papers F1 to F3, is the starting point on your way to achieving your ACCA qualification. Once you’ve passed all 3 papers, you can continue on to the ACCA Skills module.

F1ABAccountant in Business
F2MAManagement Accounting
F3FAFinancial Accounting
Skills

Comprising modules F4 to F9, this module examines the principle technical subjects that you’re expected to have an advanced understanding of. These subjects include law, taxation, auditing and financial management, financial reporting and performance management. You will develop knowledge and skills in these subject areas, reaching a level of knowledge equivalent to a Bachelor’s degree.

F4CLCorporate and Business Law
F5PMPerformance Management
F6TXTaxation
F7FRFinancial Reporting
F8AAAudit & Assurance
F9FMFinancial Management
Essentials

This module is called Essentials as it will provide you with the specialised skills and techniques required to become an expert accountant, either in a consultancy or high-level advisory role. Each of the 3 ACCA papers is assessed with a 3-hour paper-based exam.

P1GR&EGovernance, Risk and Ethics
P2CRCorporate Reporting (UK or International)
P3BABusiness Analysis
Options

 

 

Choose any 2 from 4

This module requires you to select 2 ACCA papers to study from a choice of 4, allowing you to tailor your programme to suit your requirements, interests and career aspirations. 3-hour, paper-based exams will test your knowledge of each paper.

P4AFMAdvanced Financial Management
P5APMAdvanced Performance Management
P6ATXAdvanced Taxation
P7AAAAdvanced Audit & Assurance (UK or International)

Recommended Read:-  ACCA subjects

ACCA level 1 subjects

ACCA level 1 subjects: Exam Regulations

  • All modules must be sat in order.
  • 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 ACCA papers do not have to be sat together.
  • Students have 10 years to pass all the examinations. From early 2016 students will have 7 years to pass the exams at Professional level (P1, P2 and P3 and two of the options paper P4-P7). The 7 year time limit starts when a student passes their first Professional level exam.
  • The pass mark for all examinations is 50%.
  • In addition to the above 14 papers, students are required to study and sit an on-line module in Professional ethics. It is recommended that this is studied at the same time as P1.
  • Practical experience required.

ACCA level 1 subjects:  About the organisation- Founded in 1904, the Association of Chartered Certified Accountants (ACCA) is the global professional accounting body offering the Chartered Certified Accountant qualification (ACCA or FCCA). From June 2016, ACCA recorded that it has 188,000 members and 480,000 students in 178 countries. ACCA’s headquarters are in London with principal administrative office in Glasgow. ACCA works through a network of 100 offices and centres and more than 7,100 Approved Employers worldwide, who provide employee development.

ACCA level 1 subjects: AIM

To introduce knowledge and understanding of the business and its environment and the influence this has on how organisations are structured and on the role of the accounting and other key business functions in contributing to the efficient, effective and ethical management and development of an organisation and its people and systems.

ACCA level 1 subjects: MAIN CAPABILITIES

On successful completion of this paper, candidates should be able to:

A) Understand the purpose and types of businesses and how they interact with key stakeholders and the external environment.

B) Understand business organisation structure, functions and the role of corporate governance.

C) Recognise the function of accountancy and audit in communicating, reporting and assuring financial information and in effective financial control and compliance.

D) Recognise the principles of authority and leadership and how teams and individuals are recruited, managed, motivated and developed.

E) Understand the importance of personal effectiveness as the basis for effective team and organisational behaviour. F Recognise that all aspects of business and finance should be conducted in a manner which complies with and is in the spirit of accepted professional ethics and professional values.

Recommended Read:- ACCA level 1 subjects

ACCA level 2 subjects

ACCA level 2 subjects: To introduce knowledge and understanding of the business and its environment and the influence this has on how organisations are structured and on the role of the accounting and other key business functions in contributing to the efficient, effective and ethical management and development of an organisation and its people and systems.

ACCA level 2 subjects:RATIONALE

ACCA syllabus and Subjects :The syllabus for FAB/F1, Accountant in Business introduces students who may not have a business background, to the business, which as an entity is made up of people and systems which interact with the environment and with each other. The syllabus begins with examining the purpose and types of business which exist, the key stakeholders and the rights and responsibilities that businesses have in connection with them, exploring the external influences that affect the business in its environment, including economic, legal, social and technological factors.

ACCA syllabus and Subjects : The syllabus then examines the structure and functions of business, focusing on corporate governance and the specific accounting related roles in this process, particularly in financial reporting, assurance, control and compliance. The syllabus then introduces key leadership, management and people issues such as effective individual and team behaviour, motivation and personal effectiveness. The final section of the syllabus examines how behaviour at all levels within business should be underpinned by accepted professional ethics and professional values.

ACCA level 2 subjects: MAIN CAPABILITIES

On successful completion of this paper, candidates should be able to:

A) Understand the purpose and types of businesses and how they interact with key stakeholders and the external environment.

B) Understand business organisation structure, functions and the role of corporate governance.

C) Recognise the function of accountancy and audit in communicating, reporting and assuring financial information and in effective financial control and compliance.

D) Recognise the principles of authority and leadership and how teams and individuals are recruited, managed, motivated and developed.

E) Understand the importance of personal effectiveness as the basis for effective team and organisational behaviour. F Recognise that all aspects of business and finance should be conducted in a manner which complies with and is in the spirit of accepted professional ethics and professional values.

Recommended Read:- ACCA level 2 subjects

ACCA exam changes

ACCA exam changes:  About the organisation: Founded in 1904, the Association of Chartered Certified Accountants (ACCA) is the global professional accounting body offering the Chartered Certified Accountant qualification (ACCA or FCCA). From June 2016, ACCA recorded that it has 188,000 members and 480,000 students in 178 countries. ACCA’s headquarters are in London with principal administrative office in Glasgow. ACCA works through a network of 100 offices and centres and more than 7,100 Approved Employers worldwide, who provide employee development.

The term ‘Chartered’ in ACCA qualification refers to the Royal Charter granted in 1974.

Chartered Certified Accountant is a legally protected term. Individuals who describe themselves as Chartered Certified Accountants must be members of ACCA and if they carry out public practice engagements, must comply with additional regulations such as holding a practising certificate, carrying liability insurance and submitting to inspections.

The Association of Authorised Public Accountants (AAPA), one of the British professional bodies for public accountants, has been a subsidiary of ACCA since 1996.

ACCA syllabus and Subjects :ACCA works in the public interest, assuring that its members are appropriately regulated. It promotes principles-based regulation. ACCA actively seeks to enhance the value of accounting in society through international research. It takes progressive stances on global issues to ensure accountancy as a profession continues to grow in reputation and influence.

ACCA exam changes 

Main capabilities : This syllabus’s aim is broken down into several main capabilities which divide the syllabus and study guide into discrete sections. Relational diagram of main capabilities This diagram illustrates the flows and links between the main capabilities (sections) of the syllabus and should be used as an aid to planning teaching and learning in a structured way.

Syllabus rationale :This is a narrative explaining how the syllabus is structured and how the main capabilities or sections of the syllabus are linked. The rationale also explains in further detail what the examination intends to assess and how. Detailed syllabus This shows the breakdown of the main capabilities (sections) of the syllabus into subject areas. This is the blueprint for the detailed study guide. Approach to examining the syllabus This section briefly explains the structure of the examination and how it is assessed.

Recommended Read:- ACCA exam changes

Complete Details of ACCA Syllabus and Subjects

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