About the ACCA Qualification


About ACCA

The Association of Chartered Certified Accountants (ACCA) is the largest and fastest-growing global professional accountancy body with 428,000 students and 162,000 members in 173 countries.

 

Why ACCA?

World Class Reputation

As a fast-growing global professional accountancy body with over 100 years of experience the ACCA has built a reputation for excellence that is recognised by employers around the world.

Flexibility

The ACCA Qualification gives you the opportunity of working in many sectors from public practice, public sector, financial services to the corporate sector – offering a broad range of complex and interesting roles.

How to become fully qualifiedIn order to qualify as an ACCA member any individual registering with ACCA is required to complete:

  • 14 exams (nine from the Fundamental level and 5 from the Professional Level) Exemptions may be claimed upon successful completion of relevant qualifications.
  • Relevant practical experience, with a minimum of three years,
  • Complete 13 performance objectives
  • Complete an online Professional Ethics module

What does the ACCA consist of?

The ACCA course is divided into two main parts: the F’s (the Fundamentals Modules) and the P’s (the Professional Modules). Students start from the first three F’s; F1, F2 & F3. Below is an outline of what each course consists of:

FUNDAMENTALS LEVEL

The Fundamentals exams are divided into two modules: Knowledge and Skills.

Fundamentals Knowledge:

  • F1 Accountant in Business [MQF/EQF Level 5]
  • F2 Management Accounting [MQF/EQF Level 5]
  • F3 Financial Accounting [MQF/EQF Level 5]

 Fundamentals Skills:

  • F4 Corporate and Business Law [MQF/EQF Level 6]
  • F5 Performance Management [MQF/EQF Level 6]
  • F6 Taxation [MQF/EQF Level 6]
  • F7 Financial Reporting [MQF/EQF Level 6]
  • F8 Audit and Assurance [MQF/EQF Level 6]
  • F9 Financial Management [MQF/EQF Level 6]

PROFESSIONAL LEVEL

The Professional level is divided into two modules; Essentials and Options.

Students must complete all three Essentials exams and choose two of the Options.

Professional Essentials

  • P2 Corporate Reporting [MQF/EQF Level 7]
  • (P1+P3) SBL [MQF/EQF Level 7]

Professional Options (two to be completed)

  • P6 Advanced Taxation [MQF/EQF Level 7]
  • P7 Advanced Audit and Assurance [MQF/EQF Level 7]

Assessments & Examinations

Examinations are all CBEs [Computer Based Exams], with F1, F2 and F3 exams being held at Aim Professional Academy. except for F4, F6 and P6 (as of 2018).

The rest of exams the Fs and Ps (from F4 onwards), are held and organized by the ACCA

Exams are held 4 times a year for all modules [March, June, September and December; except for F4, F6 and P6, which are only held in June and December].

 

Learning Outcomes of each module:

F1/FABAccountant in Business (AB)

To develop knowledge and understanding of the business environment and the influence this has on howorganisations 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.

F2/FMAManagement 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.

F3/FFAFinancial 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.

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.

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. F6 Taxation (TX) To develop knowledge and skills relating to the tax system as applicable to individuals, single companies, and groups of companies.

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.

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.

F9 Financial Management (FM)

To develop knowledge and skills expected of a financial manager – relating to issues affecting investment, financing, and dividend policy decisions.

P1 Governance, Risk and Ethics (GRE)

To apply relevant knowledge, skills, and exercise professional judgement in carrying out the role of the accountant relating to governance, internal control, compliance, and the management of risk within an organisation – in the context of an overall ethical framework

P2 Corporate Reporting (CR)

To apply knowledge, skills, and exercise professional judgement in the application and evaluation of financial reporting principles and practices in a range of business contexts and situations

P3 Business Analysis (BA)

To apply relevant knowledge, skills, and exercise professional judgement in assessing strategic position, determining strategic choice, and implementing strategic action through business process and structural change, coordinating knowledge systems and information technology, and by managing quality processes, projects, and people.

P6 Advanced Taxation (ATX)

To apply relevant knowledge, skills, and exercise professional judgement in providing relevant information and advice to individuals and businesses on the impact of the major taxes on financial decisions and situations.

P7 Advanced Audit and Assurance (AAA)

To apply relevant knowledge, skills, and exercise professional judgement in analysing, evaluating, concluding and reporting on the assurance engagement and other audit and assurance issues in the context of best practice and current developments.

 

Entry Requirements

Three O Levels and two A Levels in five separate subjects including maths and English or their equivalent are required for this accountancy qualification.

Work experience Three years.
Number of exams Up to 14, depending on exemptions.
How long does it take? Three to four years on average.
What else is involved? Ethics and Professional Skills module.

 

I don’t have any qualifications. Can I still start my ACCA?

Entry requirements

Yes you can. If you do not have the entry requirements to start at the ACCA Qualification, you can start your journey by starting with the Foundations Level F1, F2 & F3. Speak to us today for more information on 21314896 or [email protected]

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