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)