The Association of Chartered Certified Accountants (ACCA), one of the world’s most prestigious professional accounting organizations, has made certain adjustments to its test structure. These adjustments are intended to assist professionals in realizing their full potential in today’s work environment. If you’re interested in becoming an ACCA, we can assist you to understand the changes to the structure and how they influence you.
What modifications have been made to the ACCA exam papers?
ACCA has undergone a significant transformation, from the introduction of new examinations to the revision of existing ones. The following are some of the recent developments brought about by ACCA:
To help students efficiently manage their test time, ACCA has created Strategic Professional, a new case study that incorporates the Strategic Business Leader test and Strategic Business Reporting. Let us learn more about this.
Strategic Business Leaders Exam
Three ACCA papers have been replaced:
- P1 Governance, Risk and Ethics, and P3 Business Analysis.
- You will be given a converted Strategic Business pass if you have a valid ACCA P1 and P3 pass.
- The fundamental competencies have been incorporated into this test from the P1 and P2 ACCA examinations.
This exam was created to assist students in developing abilities that are critical for understanding business, analyzing reports, and explaining the effects of transactions to stakeholders as necessary.
The four tests that students have the option of taking would not change. However, beginning in September 2018, all questions on the Strategic Professional Exams will be mandatory.
These adjustments were made to assist students in making the best use of their time while answering questions so that they can devote more time to it and improve their chances of success.
Changes to the ACCA exam time limit
In 2016, ACCA established a time limit for students to complete the exam component of their ACCA certificate. The time restriction was originally set at ten years in 2016, but it has now been reduced to seven years.
Students will have seven years from the time they complete their first Strategic Professional test to pass all of the Strategic Professional tests. If students do not comply, they would lose all previous passes earned more than seven years ago and will be required to retake the exam.
What effect does the time limit rule have on you?
Students who registered with ACCA before December 31, 2015, were given a last exam session date of ten years from the date of registration. This is no longer true because the regulations have changed. A student’s time limit will be either 7 years from the date of each individual Strategic Professional Pass or 10 years from the date of their initial registration, whichever comes first.
Students who joined ACCA after January 1, 2016, will be given a seven-year time limit from the date they pass their first Strategic Professional exam. After that, each Strategic Professional pass earned will have a 7-year expiration date.
Why was the ACCA exam time restriction changed?
The new revisions were introduced after ACCA received feedback from employers and students. This is an attempt to be fair and give all kids the same opportunities. Time constraints also emphasize the significance of staying current with information and work methods.