Everything you need to know about ACCA

Put simply, ACCA is the most globally recognised and respected professional accounting qualification. Its syllabus is extensive, covering a wide range of accounting and finance topics. The career paths ACCA members follow are highly varied, encompassing everything from the smallest to the largest businesses and organisations in every sector all over the world.

A close look at the qualification

There are a total of 13 papers/exams across three levels, plus the compulsory Ethics and Professional Skills Module. You must also complete the Practical Experience Requirement (PER) – 36 months of supervised experience in a relevant accounting or finance role. Within this, you'll also complete nine Performance Objectives - all five Essentials and four Technical objectives.

Level 1. Applied Knowledge: This foundational level introduces core accounting principles.  

Papers

• Business and Technology (BT): Covers business structures, information technology, and its impact on businesses.

• Management Accounting (MA): Focuses on cost accounting, budgeting, performance management, and decision-making.

• Financial Accounting (FA): Deals with the fundamental principles of financial accounting, including double-entry bookkeeping, preparing financial statements, and understanding accounting standards.

Level 2. Applied Skills: Building upon the foundation, this level delves deeper into practical application.

Papers

• Corporate and Business Law (LW): Covers legal aspects relevant to businesses, including company law and contract law.

• Performance Management (PM): Focuses on advanced performance measurement techniques, variance analysis, and strategic decision-making.

• Financial Reporting (FR): Covers the preparation and interpretation of financial statements under IFRS (International Financial Reporting Standards).

• Audit and Assurance (AA): Introduces the principles of auditing and assurance engagements.

• Taxation (TX): Explores various tax systems and their implications for businesses.

• Financial Management (FM): Develop the knowledge and skills expected of a finance manager, in relation to investment, financing and dividend policy decisions.

Level 3. Strategic Professional: The final level emphasises strategic thinking and professional skills.

Papers

Essential

• Strategic Business Leader (SBL): This exam assesses strategic thinking, leadership, ethics, and corporate governance.

• Strategic Business Reporting (SBR): Focuses on advanced financial reporting, including complex transactions and financial statement analysis.

Choose two

• Advanced Financial Management (AFM): Covers advanced financial management techniques, including financial modelling, risk management, and investment appraisal.

• Advanced Performance Management (APM): How to select and apply strategic management accounting techniques and evaluate organisational performance.

• Advanced Taxation (ATX): How to provide relevant information and advice to individuals and businesses on the impact of the major taxes on financial decisions and situations.

• Advanced Audit and Assurance (AAA): Designed to reflect the challenges auditors will face in their professional life.

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So, how long will it take me?

There is no one size fits all answer to this question. The time it takes to complete the ACCA qualification varies depending on individual circumstances and prior learning.

There are roughly 5,300 hours of learning required to complete all the papers, which equates to around three to four years of consistent study. If you complete the 36 months (three years) of PER concurrently, which is recommended and highly beneficial, ACCA membership can be achieved in three to four years. 

If you don’t do the papers and PER at the same time, it can take longer. For example, some people study full-time and complete all exams in two to three years, but then need to do the 36 months of PER. 

Some people get paper exemptions from previous study, for example, through relevant university courses, which means they have fewer papers to achieve upon graduation.

Support along the way

It’s not a race, however, but a carefully paced climb to the summit of professional excellence, so the focus should be on mastery, not speed. That being said, studying ACCA is very flexible and there are things you can do to help ensure you pass through the qualification smoothly.

There are currently over 252,000 ACCA members and nearly 550,000 future members studying in 180 countries – that’s a hugely resourceful network of likeminded individuals that can provide support and answer questions.

Many employers will provide training support, both in terms of covering the costs of studying ACCA and the time required, while also providing the environment to complete PER. Working for an ACCA Approved Employer, of which there are many globally, can smooth this process even further.

You can improve your chance of passing exams by studying with an ACCA Approved Learning Provider, part of a global network of accredited education institutions. 

Lastly, ACCA’s study support resources, such as Study Hub, My Exam Performance, and Practice Platform, are all proven to provide greater success in progressing through the qualification.

What’s waiting for you when you become an ACCA member?

Financial management is the discipline that drives all business. Finance professionals create the strategies and carry out the work that leads businesses to success. They’re also closely involved with the global push for sustainability and strong corporate governance This is why all industries, all over the world, need the best finance professionals.

So when you choose finance and accountancy, you’ll be in demand – and doors to respected, hugely rewarding career opportunities will open for you. And if you want to work internationally, the ACCA qualification can take you all over the globe.

Just take a look at ACCA Careers. There are thousands of roles advertised all over the world, covering roles from CFO to finance manager and director, from tax specialists and compliance and risk experts to internal and external auditors and forensic accountants, and everything in between.

Find out more about ACCA here, studying ACCA here, and apply to study here.

Register with ACCA Careers and apply for international roles here