If you’re planning to pursue a career in finance, accounting, or auditing, then the Association of Chartered Certified Accountants (ACCA) is an excellent choice for you. The ACCA course provides a comprehensive understanding of accounting principles, business management, financial strategy, and taxation, making it a valuable credential in the finance industry.
In this article, we will discuss the ACCA course details and subjects, helping new and continuing students to gain a better understanding of the program.
Additionally, the ACCA course is divided into two parts – the Fundamental level and the Professional level.
Fundamental Level
The Fundamental level consists of two modules – Knowledge and Skills. The Knowledge module comprises three papers, while the Skills module comprises six papers.
Knowledge Module
- Accountant in Business (AB): This paper covers the basics of business and management, including organizational structure, business ethics, and governance.
- Management Accounting (MA): This paper focuses on the techniques used in management accounting, such as costing, budgeting, and forecasting.
- Financial Accounting (FA): This paper covers the principles of financial accounting, including the preparation of financial statements.
Skills Module
- Corporate and Business Law (LW): Furthermore, this paper covers the legal framework for businesses, including contracts, employment law, and company law.
- Performance Management (PM): This paper focuses on performance management techniques, including budgeting, variance analysis, and cost-volume-profit analysis.
- Taxation (TX): This paper covers the principles of taxation, including income tax, corporation tax, and value-added tax (VAT).
- Financial Reporting (FR): This paper covers the preparation of financial statements, including the statement of financial position, statement of comprehensive income, and statement of cash flows.
- Audit and Assurance (AA): Moreover, this paper covers the principles of auditing, including the audit process, audit planning, and risk assessment.
- Financial Management (FM): This paper focuses on financial management techniques, including investment appraisal, working capital management, and business valuation.
Professional Level
The Professional level consists of two modules – Essentials and Options. The Essentials module comprises three papers, while the Options module comprises four papers.
Essentials Module
- Strategic Business Leader (SBL): This paper focuses on strategic business leadership, including strategic decision-making, risk management, and corporate governance.
- Strategic Business Reporting (SBR): This paper covers the preparation and analysis of financial reports, including the interpretation of financial statements.
- Advanced Financial Management (AFM): This paper covers advanced financial management techniques, including portfolio management, mergers and acquisitions, and risk management.
Options Module
Students must choose two papers from the Options module.
- Advanced Taxation (ATX): This paper covers advanced taxation topics, including international tax, corporate restructuring, and inheritance tax planning.
- Advanced Audit and Assurance (AAA): This paper covers advanced audit and assurance topics, including professional ethics, audit quality, and assurance engagements.
- Advanced Financial Management (AFM): This paper covers advanced financial management techniques, including portfolio management, mergers and acquisitions, and risk management.
- Advanced Performance Management (APM): This paper covers advanced management accounting techniques, strategic performance measurement, and performance analysis.