A detailed overview of the ACCA qualification
The ACCA (Association of Chartered Certified Accountants) qualification is a globally recognised accountancy qualification designed to develop technical expertise, strategic insight, and ethical professionalism. It’s ideal for those aspiring to work in finance, audit, taxation, and corporate management across international markets.
ACCA Qualification Structure
To become a qualified ACCA member, you must complete:
• 13 exams (divided into 3 levels)
• Ethics and Professional Skills Module (EPSM)
• 36 months of practical experience (PER)
1. Applied Knowledge Level
Goal: Introduces foundational concepts in accounting and business.
Here are the different exams:
Business and Technology (BT)
• Business organisation, structure, and governance
• Environmental influences on business
• Accounting in business
• Management functions and leadership
• Effective communication and professional ethics
Management Accounting (MA)
• Costing methods and techniques
• Budgeting and forecasting
• Standard costing and variance analysis
• Performance measurement
• Decision-making techniques
Financial Accounting (FA)
• Accounting principles and concepts
• Double-entry bookkeeping
• Preparation of basic financial statements
• Accounting for assets and liabilities
• Use of accounting software and digital records
2. Applied Skills Level
Goal: Builds upon foundational knowledge and introduces technical skills.
Here are the different exams:
Corporate and Business Law (LW)
• Legal systems and regulations
• Contract and employment law
• Company law: formation, administration, and financing
• Director duties and corporate governance
• Insolvency law and dispute resolution
Performance Management (PM)
• Budgeting and planning
• Variance analysis and control
• Performance measurement frameworks
• Decision-making under uncertainty
• Cost-volume-profit and limiting factors
Taxation (TX) (Jurisdiction-specific, e.g., UK, Malaysia, etc.)
• Income tax for individuals
• Corporation tax
• Value-added tax (VAT)
• Capital gains and inheritance tax
• Tax planning and ethics
Financial Reporting (FR)
• Preparation of single and consolidated financial statements
• Application of IFRS (International Financial Reporting Standards)
• Revenue recognition, leases, and financial instruments
• Interpretation of financial statements
• Regulatory framework for reporting
Audit and Assurance (AA)
• Principles and objectives of auditing
• Types of audit evidence
• Internal control systems and testing
• Audit procedures and reporting
• Ethical issues in audit
Financial Management (FM)
• Investment appraisal techniques (NPV, IRR)
• Working capital management
• Business and financial risk
• Sources of finance and cost of capital
• Capital structure and dividend policy
3. Strategic Professional Level
Goal: Prepares candidates for leadership and strategic roles in finance.
Here are the different exams:
Essentials (Compulsory):
Strategic Business Leader (SBL)
• Corporate governance and leadership
• Strategy development and implementation
• Risk management
• Ethical frameworks and professional skills
• Integrated case study with real-world scenarios
Strategic Business Reporting (SBR)
• Advanced financial reporting techniques
• Analysis and interpretation of complex financial statements
• Ethical and professional judgment in reporting
• Group accounting and business combinations
• Current issues in financial reporting
Options (Choose 2 of 4):
Advanced Financial Management (AFM)
• Treasury and risk management
• Business valuations and mergers
• Advanced investment appraisal
• International finance and foreign exchange risk
• Strategic financial decision-making
Advanced Performance Management (APM)
• Strategic planning and control
• Advanced performance measurement systems
• Behavioural and ethical aspects of performance
• Risk and uncertainty in performance management
• Management control systems in global environments
Advanced Taxation (ATX) (Jurisdiction-specific)
• Complex tax scenarios and compliance
• Business and personal tax planning
• International tax and double taxation treaties
• Ethical issues in tax advice
Advanced Audit and Assurance (AAA)
• Planning and conducting advanced audit engagements
• Current issues in auditing (e.g., digital audit)
• Quality control and professional scepticism
• Group audits and other assurance services
• Reporting to stakeholders and regulators
Ethics and Professional Skills Module (EPSM)
Mandatory before sitting Strategic Professional exams.
Topics include:
• Ethical decision-making
• Communication and interpersonal skills
• Innovation and commercial awareness
• Leadership and team management
• Data analytics and visualisation
Practical Experience Requirement (PER)
To qualify for ACCA membership, candidates must:
• Complete 36 months of relevant work experience in accounting or finance.
• Achieve 9 performance objectives:
-
- 5 Essential (e.g., ethics, communication, managing self)
- 4 Technical (chosen based on role, e.g., tax, audit, reporting)
• Experience must be verified by a workplace supervisor.
Exam Availability
• On-demand computer-based exams (CBEs) for Applied Knowledge level.
• Quarterly session-based CBEs for Applied Skills and Strategic Professional levels held in March, June, September, December.
Time to Complete
• Most students take 3 to 4 years to complete all requirements.
• Once a student passes an exam at the Strategic Professional level, they have 7 years to complete the remaining exams at that level.
Entry Requirements
• Standard entry route: 3 GCSEs and 2 A-levels (or equivalent), including Maths and English.
• Graduate entry: Relevant degrees (accounting, finance, business) may qualify for exemptions.
Exemptions
Students may be exempted from some exams based on prior qualifications, such as:
• Bachelor’s or master’s degrees in accounting or finance.
• Professional certifications (e.g., CPA, CA, CIMA).
Exemptions apply mostly to Applied Knowledge and Skills levels.
Why Choose ACCA?
• Global recognition in over 180 countries.
• Flexible exam scheduling and self-paced learning.
• Covers both technical and strategic business skills.
• Strong emphasis on ethics, professionalism, and leadership.
• Opens doors to careers in audit, tax, consulting, banking, and corporate finance.
