ACCA Papers or Subjects Explained

ACCA Papers or Subjects Explained

ACCA Exams

Applied Knowledge Level

The Applied Knowledge examinations offer learners a comprehensive introduction to the financial domain, fostering the development of fundamental comprehension and accounting methodologies. These exams include:

• Business and Technology (BT)
  • This subject provides a foundational understanding of how businesses operate in a digital age, focusing on the role of technology in shaping organizational strategy, structure, and processes. Students learn about data management, IT systems, and emerging technologies, along with their impact on business decision-making and efficiency.
• Financial Accounting (FA)
  • This subject introduces students to the principles of financial accounting and reporting. It covers the preparation and interpretation of financial statements, ensuring compliance with accounting standards and regulatory requirements. Students will develop the ability to analyze financial information.
• Management Accounting (MA)
  • Focusing on the techniques and methods used in management decision-making, this subject teaches students how to plan, control, and evaluate business performance. Key topics include cost accounting, budgeting, variance analysis, and performance measurement, enabling students to contribute to the strategic decision-making process.

Qualification to Achieve: ACCA Diploma in Accounting & Business (RQF Level 4)*

Applied Skills Level

The Applied Skills examinations expand upon pre-existing knowledge and comprehension, cultivating robust, versatile, and hands-on financial abilities essential for aspiring strategic professional accountants across various sectors and industries. These exams consist of:

• Corporate and Business Law (LW) (MYS variant)
  • This subject covers the legal framework within which businesses operate, exploring the legal principles and regulations that impact various aspects of business activity. Students will develop an understanding of corporate governance, contract law, employment law, and Company Act, ensuring compliance and sound legal decision-making.
• Performance Management (PM)
  • The syllabus commences with a focus on the utilization and control of information, management information systems, and data analytics that modern organizations need for managing and measuring performance. It is crucial for accountants to comprehend the influence of information systems and technological advancements on management accounting techniques and their significance in organizational management and control. The syllabus then delves into specialized costing and management accounting topics, ensuring students have a well-rounded background in these techniques. Decision-making, scarce resource allocation, pricing, and performance assessment are covered, along with risk and uncertainty management in real-life situations. The syllabus also investigates various budgeting techniques, their inherent issues, and the behavioral aspects of budgeting, building on standard costing and variances from Management Accounting (MA). Finally, the syllabus emphasizes performance measurement and control, highlighting the importance of financial and non-financial performance indicators and the challenges in assessing performance in divisionalized businesses and external influences. This section serves as a direct precursor to Advanced Performance Management (APM).
• Taxation (TX) (MYS variant)
  • In this subject, students gain comprehensive knowledge of tax principles and practices, including income tax (individual and corporate), real property gains tax and indirect taxes. They learn how to identify tax liabilities, prepare tax computations, and advise on tax-efficient strategies, ensuring compliance with tax regulations.
• Financial Reporting (FR)
  • The syllabus aims to cultivate knowledge and skills in understanding and applying IFRS Accounting Standards and the theoretical framework for preparing financial statements, including group entities, as well as analyzing and interpreting these statements. Building on knowledge from Financial Accounting (FA), the syllabus delves deeper into the Conceptual Framework for Financial Reporting, the regulatory framework of accounting, and the standard-setting process. It encompasses financial reporting for single companies and groups in line with generally accepted accounting principles and relevant IFRS Accounting Standards. Additionally, the syllabus addresses the analysis and interpretation of both financial and non-financial information from financial statements. FR further builds your foundation to SBR.
• Audit and Assurance (AA)
  • This subject explores the principles and practices of auditing and assurance services. Students learn about audit planning, risk assessment, and audit evidence, audit reporting along with the ethical and professional standards that govern auditors’ work. They develop the skills to critically evaluate assurance engagements and communicate their findings to stakeholders.
• Financial Management (FM)
  • Students learn to manage an organization’s financial resources effectively, focusing on investment appraisal, financing decisions, and working capital management. This subject covers financial risk management, valuation, and mergers and acquisitions, preparing students to make strategic financial decisions.

Gain an ACCA Advanced Diploma in Accounting and Business upon completion of Knowledge & Skills Papers and Ethics and Professional Skills Module (EPSM).

Students may complete and pass the Research & Analysis Project to be awarded with a BSc (Hons) in Applied Accounting from the Oxford Brookes University.

Strategic Professional

The Strategic Professional examinations equip learners for upcoming leadership roles, fostering the development of strategic insight through a combination of technical, ethical, and professional competencies. Students can tailor their learning to align with their career aspirations by completing both Essential exams and selecting two Options. These examinations include:

Strategic Professional Essentials

• Strategic Business Leader (SBL)
  • As a comprehensive case-study-based subject, SBL develops students’ strategic leadership capabilities, focusing on governance, risk management, emerging issues, technologies, and strategic decision-making. Students will synthesize their technical, ethical, and professional skills to analyze complex business scenarios and recommend solutions that drive organizational success. Starting from September 2023, candidates will receive pre-seen case content prior to the exam day. The pre-seen content will be accessible via Exam Planner two weeks before the exam date. Students will receive an email notification when the content is available and are encouraged to review it before the exam.
• Strategic Bsuiness Reporting (SBR)
  • The Strategic Business Reporting syllabus builds upon Applied Skills knowledge, focusing on preparing and analyzing financial reports for various entities. Students examine corporate reporting from multiple perspectives and assess the implications of management’s decisions. They develop an understanding of the IASB’s Conceptual Framework and apply International Financial Reporting Standards in corporate reports. The syllabus also explores the usefulness of corporate reports, narrative reporting developments, and deficiencies in existing accounting standards. Students analyze and interpret corporate reports, advising on reporting implications of transactions. Question scenarios are based on contemporary business settings, such as the impact of climate change.

Strategic Professional Options (Choose any 2)

• Advanced Financial Management (AFM)
  • This subject builds on the foundations of financial management, focusing on advanced topics such as corporate restructuring, risk management, and international finance. Students will develop the skills to evaluate strategic financial decisions and provide expert advice on financial management issues.
• Advanced Taxation (ATX)
  • the application of advanced taxation principles and practices, focusing on key aspects of tax systems, compliance, and planning for individuals, businesses, and groups. Advanced areas like Trust, Investment Holding, Tax Incentives, REIT, Unit Trusts, Stamp Duty, Business Restructuring, and advanced aspects of Real Property Gains Tax are areas taught in ATX.
• Advanced Audit & Assurance (AAA)
  • This subject deepens students’ understanding of audit and assurance services, focusing on complex and specialized assurance engagements. Students will develop the skills to evaluate professional and ethical issues, design audit strategies, and provide high-quality assurance services in a variety of contexts.
• Advanced Performance Management (APM)
  • The Advanced Performance Management syllabus builds on the Applied Skills level, emphasizing the strategic role of management accounting in achieving objectives. It addresses external factors, risks, performance management information systems, technology influences, and high-level performance measurement techniques in various contexts. Candidates learn to advise on performance assessment and control, while developing professional skills to enhance employability and career advancement.

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