Useful information: Details of the ACCA program

As a graduate of the ACCA program, you have the edge over other finance graduates. The ACCA curriculum is as follows:

Examinations / Topics:

Accounting for financial and management purposes consists of 14 exams in 14 different subjects.

Accounting has two levels – Fundamentals and Professionals, which combine the basics and advanced classes, and the exams are split into two categories.

Fundamentals Knowledge
o F1 Accountant in Business
o F2 Management Accounting
o F3 Financial Accounting
Fundamentals Skills
o F4 Corporate and Business Law
o F5 Performance Management
o F6 Taxation
o F7 Financial Reporting
o F8 Audit and Assurance
o F9 Financial Management
Professional Essentials
o P1 Governance, Risk and Ethics
o P2 Corporate Reporting
o P3 Business Analysis
Professional Options (two of the four below need to be completed)
o P4 Advanced Financial Management
o P5 Advanced Performance Management
o P6 Advanced Taxation
o P7 Advanced Audit and Assurance

Candidates are required to take a Professional Ethics module. We have previously discussed that specific education parameters get met to deserve exemptions in certain subjects.

Format of the exam:

The majority of exams are offered as paper tests, while a few are also available as computer-based tests

o Knowledge (F1-F3) – Computer-based exam (CBE) or paper-based exam

o Skills (F4-F9) – Are available in paper format

o Essentials (P1-P3) – available in paper format

o Options (P4-P7) – available on paper

Most exams last around two hours
Most of the documents have a mix of multiple-choice questions and MCQs (Multi-Task Questions), which are like tests.
Around 400 ACCA test centres are located worldwide, including several in Nepal.

ACCA exam difficulty: ACCA exams are challenging; however, compared to CPA exams, it seems less daunting

In contrast to the U.S. CPA exam, there are more exemptions than papers.
Rates of passing:
o Pass rates for Knowledge are between 60% and 80%
o Pass rates for Skills are between 40-50%
o Pass rates for Professional Essentials are also 40-50%
o Pass rates for Professional Options are about 30-40%

Dates of the exams:

Once you have registered, you have ten years to complete all 14 exams.
There are two distinct exam cycles each year:
o Feb to July
o Aug to December
There are two distinct exam cycles each year: o Feb to July o Aug until Jan. While computer-based exams are offered in December and June, one can take up to four exams per cycle.
Exams should be taken in the order in which they are under. You may take the exams in any order within the module.
It is impossible to take F3 before F4, for instance. F3 can, however, be brought before F2 or F1 since they are both parts of the same module
o However, candidates are encouraged to follow the order from F1 to P7 for better comprehension and results.

Practice Certificate and Practical Experience:

You have to have worked in relevant positions for three years to qualify as an ACCA member, in addition to passing the exams and completing the ethics module.
According to the ACCA, specific performance objectives must be met.
ACCA members who are globally practising must undergo a Practicing Certificate Training Record (PCTR) in addition to practical experience. ACCA offers more information about this on its website.

The following fees are applicable (please see website for current prices):

If you pay on time and pass all exams on your first attempt, your total cost will be *GBP 1,300.

You may pay from GBP 71 to GBP 231 per exam (depending on whether you register early or late)
Skills level: GBP 90 to GBP 252 per exam (depending on whether you register early or late)
Professional grade: GBP 104 to GBP 268 per exam (depending on whether you register early or late)