Understanding ACCA Papers: An Overview of the Syllabus

The ACCA qualification is a prestigious certification recognized globally and accepted by numerous institutions and employers. The qualification entitles ACCA graduates to find top employment in the accounting industry at attractive pay packages.

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To obtain the qualification, you must pass the prescribed exams and ACCA levels. This blog details the ACCA syllabus and the papers that you must qualify to be eligible to receive the qualification.

ACCA Exam Structure: An Overview

ACCA applicants are required to clear 3 levels within the study program. Level 1 is Applied Knowledge, Level 2 imparts Applied Skills, and Level 3 is defined as Strategic Professional. A total of 13 subjects are spread across the 3 levels. Level 1 of ACCA is generally the easiest, with the level of difficulty gradually increasing with the higher levels.

Students who have completed 10+2 with the specific score can enter the 3 levels defined above. However, students with a background in Commerce can directly move to level 2. Certain professionals holding relevant desirable qualifications are further exempted from some levels. All the other students are required to clear Level 1 and pursue the ACCA Foundation in Accountancy program, after which they are eligible to take the main course.

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The section below details the ACCA syllabus breakdown for further reference:

Level 1

Skill Taught: Applied Knowledge

Subjects Covered -

• Management Accounting: Students are imparted with learning in varied methods of management accounting, taught how to analyze levels of performance, support business growth, and boost employee productivity through effective management techniques. The subject covers cost and management accounting, business mathematics using spreadsheets, and techniques for budgeting and cost accounting.
• Business and Technology: Here, students learn how a business operates and the integral role accounting professionals play in the running of a business enterprise. Legal, economic, and ethical aspects of a business are studied in detail, along with the influence of external factors like the environment, government, and economy on a business. Topics covered in business and technology include organization, business leadership, and management, employee and team management, history of accounting in business, and functions of accounting.
• Financial Accounting: All key principles, concepts, and techniques in financial accounting are imparted to students in this subject. A few examples include double-entry bookkeeping, drafting financial statements, basic principles in accounting, financial reporting, and preparing trial balances.

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Level 2

Skill Taught: Applied Skills

Subjects Covered -

• Performance Management: Techniques of management accounting are taught to the students that can enable them to analyze both quantitative and qualitative financial data. It is a key skill in planning for the future and making crucial decisions for the business. Key topics covered in the subject include making forecasts and predictions for the future, techniques in cost accounting, methods for effective decision-making, and analyzing variance and standard costing.
• Financial Reporting: It is one of the key skills required for every professional accountant. Students are offered a detailed study and analysis of financial statements and standards of accounting, along with learning how to analyze and decode financial reports, understand the regulatory and conceptual frameworks, and write financial statements.
• Audit and Assurance: Students learn methods of auditing within an organization as well as how to accurately conduct the assurance process. Investment assessment, business evaluation, capital costs, nature of financial management, business finance, and risk management are some of the key topics covered in this subject.
• Corporate and Business Law: Students are provided with a comprehensive idea of certain specific and relevant legalities involved in the running of a business. They require advanced skills to deal with certain legal issues that may arise from time to time. This is why this subject covers topics like the Law of Employment and Obligations, aspects, and features of law, ethical issues, management and regulation of businesses, and the legal consequences of companies in crisis mode.
• Taxation:  This subject teaches students about the tax system in the country and its impact on individuals and organizations alike. Some key topics covered are income through investments, corporation tax, capital allowance, value-added tax (VAT), and income earned through employment or jobs.
• Financial Management: The subject is ideally meant for students aspiring for managerial roles in the world of finance. All the basic concepts, skills, and knowledge required to become a finance manager in the industry are imparted to students. These include options for investment and decisions involved in making policies and other financial matters. Business risk analysis, management of capital costs and working capital, financial management, and valuation of investment are some key topics covered in the subject.

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Level 3

Skill Taught: Strategic Professional

Subjects Covered -

• Strategic Business Reporting: Students learn how to make key, effective decisions using accounting concepts and principles based on strategic business reporting. Additionally, the advanced knowledge students earn in the subject helps them cope with the real-world work environment. Some of the key topics covered in the subject are financial reporting framework, the impact of regulatory changes, ethical and professional practices in accounting, and challenges in financial reporting.
• Advanced Performance Management: Students learn to use strategic management accounting techniques in varied business environments to professionally assess performance levels in a business. The subject covers essential topics like performance management methods, strategic performance calculation, relevant economic aspects, strategic planning, and industry developments.
• Advanced Audit and Assurance: This subject helps students get a peek into the various issues faced by professional auditors. Some of the key topics covered are quality control, international regulatory structures, auditing, and ethical and professional considerations. Note that clearance of the Strategic Business Reporting exam is mandatory before studying Advanced Audit and Assurance.

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• Strategic Business Leader: This is a professional course where students are trained to turn into specialists. They learn to cope with real-world work situations and get the opportunity to utilize their professional and technical skills. Risk management, the significance of management governance, and professional and ethical skills are the key topics in this subject.
• Advanced Financial Management: Next in the ACCA subjects list is a topic that is specifically designed for emerging finance managers. The course prepares students to function as senior professionals in an organization and make effective financial decisions for the firm. Key topics covered include learning how to interact with the concerned stakeholders, mergers and acquisitions, emerging challenges in financial management, advanced techniques in risk management, and improved investment valuations.
• Advanced Taxation: This subject takes a deeper dig into the world of taxes, equipping students with the desired knowledge on the laws of taxation and their impact on the financial decisions of an organization. Effective communication with clients, management of taxes, and impact of taxes are some of the topics covered in this subject.

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If you’re seeking the privileged ACCA certification, Amity University Online provides the perfect platform for students. The portal offers complete information to applicants on ACCA paper requirements, ACCA exam format, and more.

AmityOnline has helped several students obtain the esteemed ACCA accounting certification and you could be the next. With the best expert faculty in the industry and practical training complementing theoretical subjects, students can look forward to a rewarding career in the accounting industry through Amity online course training for ACCA.