Your guide to the ACCA exams

The ACCA qualification requires that you study and pass 13 exam in order to become an ACCA qualified accountant. These focus on different aspects of accountancy, finance and business and are designed to provide you with in-depth knowledge across a broad range of topics.

The modules are split over three levels: applied knowledge, applied skills and strategic professional.

Order of exams

You can take up to four exams in any one exam cycle (roughly three months), with a maximum of eight exams in one calendar year. Exams must be taken in modular order (i.e. applied skills cannot be taken until the applied knowledge stage has been passed, unless they are taken in the same exam sitting).

Once you have passed an exam you cannot resit it, however, once you become a member of the ACCA, you can apply to resit previous exams should you wish to improve your grade. You can also apply to take additional exams (e.g. the strategic professional optional) once you have qualified.

Applied knowledge

The applied knowledge level covers basic accounting and business principles over three modules:

  • Management Accounting (MA/FMA)

  • Financial Accounting (FA/FFA)

  • Business and Technology (BR/FBT)

Each of the three modules is tested with a 2 hour online assessment, which can be taken at any time at an approved test centre. Unlimited re-sits per module are allowed (however many employers will limit this).

The applied knowledge of the ACCA also makes up an independent qualification - the ACCA Diploma in Accounting and Business which can be completed independently of the ACCA. 

If you are studying for the ACCA applied knowledge or the Diploma, check out our revision notes which walk you the entire syllabus in straight forward and easy to understand language.

Applied skills

The applied skills level focuses on your ability to apply your knowledge and understanding to real-life scenarios over six further exams:

  • Audit and assurance (AA)

  • Financial reporting (FR)

  • Financial management (FM)

  • Taxation (TX) - variants available for different countries

  • Corporate and Business Law (LW) - variants available for different countries

  • Performance Management (PM)

Each applied skills level module is assessed through an 2–3 hour online exam. Some exams are formed of multiple choice questions (MCQ) and others require more extended written answers and computations.

All the above exams are session-based (with the exception of Corporate and Business Law if the variant chosen is UK or global law). This means that you will have to take your exams at one of four sittings during the year: March, June, September or December (please note that not all exams are available at every sitting - see here for additional information).

It is recommend that you take Audit and Assurance (AA) after or with your Financial Reporting (FR) exam.

Completion of the applied skills level of the ACCA in addition to the Ethics and Professional Skills module leads to the award of an Advanced Diploma in Accounting and Business (equivalent of a UK bachelor’s degree).

Strategic professional

The strategic professional level exams include much more complex scenarios and add the additional element of being open book exams. These build on the applied skills level modules and are the final step in achieving the ACCA qualification.

There are two core ‘essential’ modules which al students must take:

  • Strategic business leader (SBL)

  • Strategic business reporting (SBR)

You can then choose two additional ‘options’ modules based on what is relevant to your career:

  • Advanced financial management (AFM)

  • Advanced performance management (APM)

  • Advanced taxation (ATX) - variants available for different countries

  • Advanced audit and assurance (AAA)

All the above exams are session-based so you will have to take your exams at one of four sittings during the year: March, June, September or December (please note that not all exams are available at every sitting - see here for additional information).

It’s really important (if you have the choice), that you pick options that interest you and will be useful for your future career plans. Don’t be put off by ACCA pass rates - you are must more likely to do well if you study a subject that actually interests you!

It is useful to have completed the Ethics and Professional Skills module prior to taking the strategic professional level of the ACCA as many of the core ethical concepts are assumed knowledge for the final level of exams. ACCA results show that you are 25% more likely to pass your strategic professional level exams if you have already completed the Ethics module.

Please also note that Level 7 apprentices must complete Strategic business leader (SBL) as your final exam. Other students can choose the order in which they sit these final exams.

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