1) The Knowledge module has 3 papers and deals with the main areas of financial and management accounting
2) Skill level builds on the technical knowledge you will already have gained through the Fundamentals level. It will also explore more advanced professional skills, techniques and values.
3) The Professional level is also made up of two modules; Essentials and Options. Both of the modules are at Professional level and have been set at the same ability level as a Masters degree
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A ) Applied knowledge Module: |
| F1 AB |
Accountant in Business
Providing a thorough introduction to the foundations of effective management, this paper will help you understand the contemporary business environment and its influence on the operation of accountants and organisations. It also sheds light on the accountant's role within this structure, demonstrating how they can contribute to the development of an effective and ethical organisation.
The main elements of this paper are as follows:
Business organisation structure, governance, and management
Key environmental influences and constraints on business and accounting
History and role of accounting in business
Specific functions of accounting and internal financial control
Leading and managing individuals and teams
Recruiting and developing effective employees
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| F2 MA |
Management Accounting
This paper will teach you how to prepare and process basic quantitative information, with the aim of supporting management decision-making processes through a range of functions.
The main elements of this paper are as follows:
The nature and purpose of cost and management accounting
Cost classification, behaviour, and purpose
Business mathematics and computer spreadsheets
Cost accounting techniques
Budgeting and standard costing
Short-term decision-making techniques
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| F3 FA |
Financial Accounting
You will learn the underlying concepts, core principles, and regulations of financial accounting and acquire technical proficiency in double-entry accounting techniques, including the preparation and interpretation of basic financial statements.
The main elements of this paper are as follows:
Context and purpose of financial reporting
Qualitative characteristics of financial information and fundamental bases of accounting
Use of double-entry accounting systems
Recording transactions and events
Preparing a trial balance
Preparing basic financial statements |
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B ) Skills Level Module: |
| F4 LW |
Corporate and Business Law
This paper enhances your understanding of the wider legal framework and introduces specific legal issues relating to business, while identifying situations where specialist legal advice must be taken.
The main elements of this paper are as follows:
Essential elements of the legal system
The law of obligations
Employment law
The formation and constitution of business organisations
Capital and the financing of companies
Management, administration and the regulation of companies
Legal implications for companies in difficulty or crisis
Governance and ethical issues relating to business
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| F5 PM |
Performance Management
The objective of this paper is to develop your skills in management accounting techniques. You will learn how to apply this knowledge to quantitative and qualitative data for the purposes of planning, decision-making, and evaluating performance.
The main elements of this paper are as follows:
Cost accounting techniques
Decision-making
Budgeting and forecasting
Standard costing and variance analysis
Performance measurement
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| F6-TX |
Taxation
Gain a more thorough understanding of the business taxation system and its impact on individuals, companies, and groups of businesses.
The main elements of this paper are as follows:
Trading profits
Capital allowances
Employment income
Property business profits
Investment income
Personal tax computations
National insurance
Corporation tax
Capital gains tax
Value added tax
Self assessment
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| F7 FR |
Financial Reporting
This module develops your understanding of accounting standards and financial reporting. You will also study the theoretical principles behind the creation of financial statements, with particular focus on financial statement analysis and interpretation.
The main elements of this paper are as follows:
Conceptual framework
Regulatory framework
Preparation of financial statements
Business combinations
Analysing and interpreting
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| F8 AA |
Audit and Assurance
This paper introduces the knowledge and competencies used by financial managers in the areas of financing, investment, and dividend policy decision-making.
The main elements of this paper are as follows:
Financial management function
Financial management environment
Working capital management
Investment appraisal
Business finance
Cost of capital
Business valuation
Risk management
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| F9-FM |
Financial Management
The aim of ACCA Financial Management (FM) (F9) is to develop the knowledge and skills expected of a finance manager, in relation to investment, financing, and dividend policy decisions.
The main elements of this paper are as follows:
Financial management function
Financial management environment
Working capital management
Investment appraisal
Business finance
Business valuations
Risk management
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C ) Strategic Professional Module: (Optional 2 from the following 4 ) |
| P4 AFM |
Advanced Financial Management
You will develop in-depth knowledge of the world of finance and gain the theoretical skills required of senior financial advisors and executives.
The main elements of this paper are as follows:
Role and responsibility towards stakeholders
Advanced investment appraisal
Acquisitions and mergers
Corporate reconstruction and re-organisation
Treasury and advanced risk management techniques
Economic environment for multinationals
Emerging issues in finance and financial management
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| P5 APM |
Advanced Performance Management
Developing advanced management accounting techniques, you will learn to accurately assess the performance and strategic development of global organisations, taking into account economic as well as external factors.
The main elements of this paper are as follows:
Strategic planning and control
Economic factors
Performance systems and design
Strategic performance measurement
Performance evaluation
Current developments
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| P6 ATX |
Advanced Taxation
You will acquire the knowledge needed to offer well informed advice on how large-scale taxation affects financial decision-making.
The main elements of this paper are as follows:
Advanced facets of the UK tax system
The impact of taxes and tax interaction
Tax planning measures
Communicating with clients, HM Revenue and customs, and professionals
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| P7 AAA |
Advanced Audit and Assurance
P7 will teach you how to analyse, evaluate, and report on assurance engagements, as well as other issues in audit and assurance, within the context of current financial developments and best practice.
It is strongly recommended that before taking paper P7 you have completed, or at least attempted, papers F8 and P2.
The main elements of this paper are as follows:
Conceptual framework
Regulatory framework
Preparation of financial statements
Business combinations
Analysing and interpreting
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