The ACCA Qualification is designed to provide the accounting knowledge, skills and professional values which will deliver finance professionals who are capable of building successful careers across all sectors, whether they are working in the public or private sectors, practising in accounting firms, or pursuing a career in business. The ACCA Qualification embeds the global accounting education standards set by the International Federation of Accountants (IFAC). There is a strong focus on professional values, ethics, and governance. These skills are essential as the profession moves towards strengthened codes of conduct, regulation, and legislation – with an increasing focus on professionalism and ethics in accounting. These are examined at the highest level in the ACCA Qualification and are a core element of your practical experience requirements.
The ACCA Qualifications Fundamental Level comprises 9 papers, divided into two subject areas.
The main aim of each paper is described briefly below:
F1 Accountant in Business (AB)
Understanding of business and its environment, the role of accounting and other key business functions
F2 Management Accounting (MA)
How to prepare and process basic cost and quantitative information to support decision-making
F3 Financial Accounting (FA)
The underlying principles and concepts of financial accounting including the use of double-entry accounting technique and preparation of basic financial statements
F4 Corporate and Business Law (CL)
Understanding of general legal framework, and specific legal areas relating to business
F5 Performance Management (PM)
Application of management accounting techniques for planning, decision-making, performance evaluation and control
F6 Taxation (TX)
Knowledge and skills relating to the tax system as applicable to individuals, single company and group of companies
F7 Financial Reporting (FR)
Application of accounting standards in the preparation of financial statements and how to analyse and interpret those financial statements
F8 Audit and Assurance (AA)
Understanding of the process of carrying out the assurance engagement and its application in the context of the professional regulatory framework
F9 Financial Management (FM)
The knowledge and skills expected of a finance manager, in relation to investment, financing and dividend policy decisions
DURATION OF PROGRAMM
There is no time limit for completing the ACCA Qualification. The length of time it takes to qualify as an ACCA member depends on the candidate (how he/she studies, how often he/she sit exams and where and how he/she gains the relevant practical experience). As a guide, a student from PTC can complete all nine papers at the Fundamental Level within 1½ years if he/she follows our local tutorial timetable.
Foundations in Accountancy route (FIA)
Must be 18 or over
Students who successfully complete the Diploma in Accounting and Business via Foundations in Accountancy can transfer to the ACCA Qualification and commence their studies from F4 onwards
Gain exemptions from ACCA papers F1-F3
Graduate entry route
Relevant degree holders from ACCA-accredited institutions may be exempt* from up to nine exams within the Knowledge & Skills levels and register directly at the Professional level
Holders of recognised business and/or accounting degrees may also qualify for exemptions*
One intake a year.