The ACCA syllabus covers the knowledge and skills that are required to prepare students for professional accounting practice. It has a strong focus on the technical aspects of finance and accounting, and prepares students for careers such as Financial Accountant, Tax Consultant, Tax Advisor, Senior Accountant, Business Advisor or Auditor.
Due to increasing emphasis on ethics and corporate governance in practice, ACCA has a strong focus on ethics and professionalism. The ACCA syllabus therefore includes a compulsory module in Professional Ethics, which is a requirement for membership of ACCA (in addition to passing the exams and completing the Practical Experience Requirement).
There are a total of 14 exams that form part of the ACCA qualification. Exemptions can, in appropriate circumstances, be granted for up to 9 of the Fundamental level exams.
The ACCA Syllabus is structured as follows:
FUNDAMENTALS:
Knowledge
F1 Accountant in Business
Introduction to business, role of accounting in business, introduction to management, and introduction to ethics.
F2 Management Accounting
Introduces students to the nature and purpose of management information, introduces cost accounting, budgeting and performance management.
F3 Financial Accounting
Covers technical aspects of financial accounting, including financial reporting, use of financial information, the double-entry system, recording of transactions, the trial balance, and preparation and interpretation of financial statements.
Skills
F4 Corporate and Business Law
Covers the legal framework applicable to business, and teaches students how to recognise the need to seek specialist legal advice.
F5 Performance Management
Covers the application of management accounting techniques, decision-making and budgeting.
F6 Taxation
Introduces the tax system and the various tax types, and teaches students how to calculate tax liabilities (for individuals, companies and groups of companies), how to apply tax planning techniques, and how to identify tax compliance issues.
F7 Financial Reporting
Builds on what was taught in F3. It also covers the regulatory framework of accounting and its impact on the standard-setting process, the reporting of financial information in accordance with the generally accepted accounting principles, and the analysis and interpretation of information from financial reports.
F8 Audit and Assurance
Covers the nature, purpose and scope of audit and assurance, and the ethical standards and regulatory framework relating thereto. It also covers the differences between internal and external audits, risk assessment, audit evidence, review of financial statements, and audit reports.
F9 Financial Management
Covers the skills that would be required by a finance manager. It looks at the financial management function in business, including decision-making relating to investing, financing and dividend policy. Aspects of risk management are also covered.
PROFESSIONAL (5 papers must be completed)
Essentials
P1 Governance, Risk and Ethics
Examines the concept of governance and considers the roles of directors and officers of the organisation. It also looks at internal review and control, compliance and risk management, as well as applied personal and professional ethics in the role of an accountant.
P2 Corporate Reporting
Explores the wider professional duties of an accountant, the financial reporting framework, and the requirements relating to the preparation of financial statements. It also covers reporting for specialised entities, the role of an accountant as a financial analyst and adviser, as well as current developments and their impact on financial reporting.
P3 Business Analysis
Covers the external forces that have an effect on the organisation, as well as the internal concerns that exist within and have an effect on an organisation.
Options (choose 2 papers to complete)
P4 Advanced Financial management
P5 Advanced Performance Management
P6 Advanced Taxation
P7 Advanced Audit and Assurance
Last updated: December 13th, 2016