ACCA | The Skill Academy

ACCA

ACCA Fundamentals Level

Overview

Fundamentals (nine papers in total)

Knowledge
F1 Accountant in Business	Accountant in BusinessTo 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.
F2 Management Accounting	Management AccountingTo 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 Financial Accounting	Financial AccountingTo 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.This includes the preparation of basic financial statements and from December 2011 will also include preparation of basic consolidated financial statements and interpretation of financial statements.To find the right resources for you, please select from the menu.ACCA has introduced new question types, known as Multitask Questions (MTQs), into the paper and computer based exams for F3 Financial Accounting:Multitask questions (MTQs) contain a series of tasks which relate to one or more scenarios.
Skills
F4Corporate and Business Law	Corporate and Business Law 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	Performance Management 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	Taxation To develop knowledge and skills relating to the tax system as applicable to individuals, single companies, and groups of companies.
F7 Financial Reporting	Financial Reporting 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	Audit and Assurance 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	Financial Management To develop knowledge and skills expected of a financial manager – relating to issues affecting investment, financing, and dividend policy decisions.

ACCA Professional Level

Overview

Professional (five papers in total)

Essentials	Three essentials
P1 Governance, Risk and Ethics	Governance, Risk and Ethics 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	Corporate ReportingTo 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.Should you wish to practise as a registered auditor within the UK and/or Ireland (obtain the audit qualification/audit practising certificate), you must attempt the P2 UK/Irish and P7 UK/Irish papers from June 2011 onwards. This is not a retrospective ruling, so any International papers you have already passed will be unaffected by this ruling.All UK and Irish professional accountancy bodies are governed by the requirements of the Statutory Audit Directive (SAD). In order to comply with the requirements of SAD – and to practise as an auditor – certain elements of UK/Irish legislation and regulation should be examined.The revised Papers P2 (UK/IRL) and P7 (UK/IRL) fully meet regulatory and business environment requirements for those wishing to obtain the UK/Irish audit qualification and hence practise as a registered auditor in the UK/Ireland.
P3 Business Analysis	Business Analysis 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.
Options (two to be completed)
P4 Advanced Financial Management	Advanced Financial Management To apply relevant knowledge, skills, and exercise professional judgement as expected of a senior financial executive or advisor, in taking or recommending decisions relating to the financial management of an organisation.P4 is one of four Options papers. You need to complete two Options papers as part of the ACCA exam requirements to achieve ACCA membership and become a professional accountant.
P5 Advanced Performance Management	Advanced Performance Management To apply relevant knowledge, skills, and exercise professional judgement in selecting and applying strategic management accounting techniques in different business contexts and to contribute to the evaluation of the performance of an organisation and its strategic development.P5 is one of four Options papers. You need to complete two Options papers as part of the ACCA exam requirements to achieve ACCA membership and become a professional accountant.
P6 Advanced Taxation	Advanced Taxation 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.P6 is one of four Options papers. You need to complete two Options papers as part of the ACCA exam requirements to achieve ACCA membership and become a professional accountant.
P7 Advanced Audit and Assurance	Advanced Audit and AssuranceTo 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.P7 is one of four Options papers. You need to complete two Options papers as part of ACCA’s exam requirements to achieve ACCA membership and become a professional accountant.