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ACCA qualification is an internationally recognized program with up-to-date, industry-relevant knowledge; it’s a great way to begin a career in accounting and finance. Students can accomplish this in addition to graduating. The customizable nature of the examination scheme makes this qualification more attractive.
It takes a lot of work to pass the challenging ACCA exam, which is required to advance your eligibility for chartered accounting (CA). Students who have taken a specific course and previously studied the required courses are eligible for exemptions from ACCA. These exemptions enable students to carry on with their education without spending time on exams.
There are 13 coursework courses in all, broken down into professional and fundamental areas. There are four papers in the latter and nine in the former. In a year, students have to attempt eight papers. The module on ethics and professional skills helps students develop their understanding of other viewpoints as well as other abilities like accounting and communication Visit Now.
Exam Syllabus for ACCA
ACCA conducts exams to evaluate students and determine their suitability to become professional chartered accountants. Due to its nature and value in the professional arena, it becomes essential to have a syllabus that is comprehensive enough to cover every facet of the profession.
Below is a summary of the topics that are covered in each ACCA exam:
- Business and Technology (BT): Business is understood in relation to the economy, environment, and legal and regulatory framework. It also covers topics such as data protection, privacy, security, employment, and governance. Read more
- Management Accounting (MA): Data analysis, statistical methods, budgeting, cost accounting methods, performance metrics, and standard costing are all included in management accounting (MA).
- Financial Accounting: It includes financial reporting, information gathering about finances, double-entry accounting, event and transaction recording, financial consolidated statement preparation, trial balance preparation, and financial statement interpretation.
- Corporate and Business Law: Fundamentals of Law; Employment Law; Bankruptcy Law; Law of Obligations; Business Organization Formation and Constitution; Capital and Financing; Company Regulation & Administration; Corporate Fraud & Criminal Activity
- Performance management: PM includes employability and technology skills, budgeting and control, accounting and cost management, performance measurement and control, and technologies and information for organisational performance.
- Taxation: Depending on the nation, different tax schemes apply. Thus, the topics covered here are unique to the nation. The tax system, inheritance tax, corporation tax, chargeable gains, VAT, corporate tax liabilities, income tax, and NIC capabilities are among them.
- Financial Reporting: Employability and Technology Skills, Financial Statement Analysis, Conceptual and Regulatory Framework, Financial Statement Preparation, Accounting for Transactions in Financial Statements
- Audit and Assurance: Studying the audit framework and regulations, reviewing and reporting, planning and risk assessment, audit evidence, and internal control are all necessary for audit and assurance.
- Financial Management: This course covers the following topics: working capital management, investment capital, business finance, risk management, company valuations, and the financial management environment.
- Strategic Business Reporting: There are two versions of this course available: UK and international. Basic ethical and professional principles, interpreting financial statements for various stakeholders, reporting financial performance across a variety of entities, financial statements of groups of entities, the impact of changes, and potential changes in accounting regulation are all topics that are covered in the international version.
- Strategic Business Leader: Leadership, governance, strategy, risk, professional skills,finance in planning and decision-making, technology and data skills, enabling success and management, organizational control, and audit are the subjects to be covered in this role as a strategic business leader.
Be aware that the ACCA exam syllabus is also subject to change depending on the year. The curriculum that you are currently perusing outlines the tests that must be taken from September 2023 to September 2024. The syllabus will not change significantly, but given the current state of things, there might be some theoretical changes.
Sum Up
Having the right certifications is crucial in the quickly changing financial sector. The ACCA certification equips individuals with the know-how and abilities needed to succeed in this fast-paced industry. For aspiring professionals, understanding the 13 ACCA papers and the possibility of exemption can be a game-changer.
The 13 ACCA papers address a variety of crucial financial topics, including taxation, auditing, management accounting, and financial accounting. People can build a solid foundation in important areas that are essential to a successful career in finance by studying these papers. If you need professional guidance to grow in your ACCA career, think of enrolling in Mirchawala’s Hub of Accountancy and giving wings to your dream career.
Note: Keep in mind that, depending on their prior academic standing or professional experience, people could be excluded from specific ACCA papers. This implies that candidates who meet the necessary requirements might not be obliged to take specific exams, enabling them to move through the ACCA qualification process more quickly.