Complete Beginner’s Guide to ACCA Exams

ACCA Exam Tips – Take a look at our in depth details on about the program, criteria, exam format, fees, strategies to deal with ACCA qualification. This comprehensive guide will help you get a grip and clear understanding of the course. I hope this helps clear all your doubts and helps you make an informed decision. The following is the structure of the article:

  1. Why ACCA is one for Accountants
  2. About ACCA Qualification
  3. ACCA Qualification Completion Criteria
  4. Why Pursue ACCA
  5. ACCA Exam Format
  6. ACCA Qualification Fees
  7. Pass percentage for ACCA Exams
  8. ACCA Exam Strategies

Why ACCA is one for Accountants?

  • ACCA as a qualification is growing very fast and across the globe with an opportunity students and members in more than 170 countries.
  • This certification gives the employers an assurance that you eligible in all aspects of business.
  • It gives you better job prospects and a growth in higher senior management.
  • It is the largest and fastest growing global accountancy body with more than 3,20,000 members and students in different parts of the world.
  • Most importantly it gives you a personal satisfaction of acquiring business skills.

Did you know that these criteria’s of the ACCA certification gives you a very strong reason to want to have this certification even if you will have to invest a good amount of money and time it also involves a lot of sacrifices.

About ACCA Qualification

The association of chartered certified accountants is a very competent and a leading accounting global body their qualification gives you recognition as an employee who has the ability in all aspects of business. The term Chartered Certified Accountant is protected legally as anyone who claims to be a chartered certified accountant has to be a member of ACCA.

  • Role: Banker, Consultant, Auditor, taxation and law professionals.
  • Exams: ACCA consists of in total 14 written examinations in English, along with a business experience that is relevant enough. 4 exams can be taken up in each part which normally takes about 2 to 3 years to clear; however maximum time given to clear ACCA is 10 years.
  • ACCA exam dates: These exams are held twice a year that is in June and in December.
  • Eligibility: registering in different countries has different eligibility criteria’s for this course also the candidate needs to have relevant experience to have this certification.

ACCA Qualification Completion Criteria

  • The ACCA qualification is divided into 2 parts the 1st part is fundamentals which is subdivided into knowledge module and skill module. The knowledge module has three papers where as the skills module has 6.   
  • The second part is the professionals, which is divided into the essentials module and the options. The essentials module has 3 papers and the options have 4 out of which the candidate has to choose any two.
  • The candidate has to clear all the 14 papers he can choose as many papers as he wants to clear in one part, maximum up to 4 papers can be appeared in one part.
  • Normally the course can be covered in 2 to 3 years however the association gives the candidates a time span of 10 years to complete the given certification.
  • To enroll for this certification you have to have a minimum work experience of 3 years in relevant fields. ACCA believes in relating the bookish knowledge to practical knowledge and applying it.

Why Pursue ACCA?  

  1. ACCA gives you better employment prospects and also displays your ability in all aspects of business.
  2. It gives you the designation of a chartered certified accountant which is a legal term and can only be obtained by the members of ACCA.
  3. ACCA opens your doors to senior management position as it gives the employers an assurance of your performance.
  4. It is evidence that you have the skills and abilities employers in the banking, auditing, consulting, law and taxation professionals are looking for.
  5. Besides gaining mere professional knowledge in finance and accounting the candidate also acquires valuable skills management strategic skills of an organization.
  6. Along with the theory this certification also believes in employing them in practical life.
  7. International accounting and auditing standards is the base of this certification.

ACCA Exam Format and Syllabus

ACCA Exam ACCA Part I Exam

( fundamental level)

ACCA part II exam ( professional level)
Focuses on Accountant in business, Management accounting, Financial Accounting,

Corporate and business law, Performance Management, Taxation, Financial reporting, Auditing and assurance, Financial management.

Governance risk and ethics, Corporate reporting, Business analysis, Advanced financial management, Advanced Performance management, Advance taxation, Advance audit and assurance
Exam Format Written exam Written exam
Pass percentage 50% marks in all subjects 50% marks in all subjects
Duration Duration varies for each paper Duration varies for each paper

ACCA Part I exam (Fundamental level)

This part in total has 9 papers to attend or to appear, it includes the basic of comers like accounting and management.

  • ACCA part 1 exam focuses on accounting in total including in business, management and financial. The focus also goes on corporate and business laws, performance management, taxation, financial reporting, auditing assurance and also financial management.
  • Unlike other modern online examinations this exam is a written exam as it does test the ability of the candidate
  • To clear in each part of the examination the candidate needs 50% marks
  • The duration for each examination differs

ACCA Part II exam (Professional level)

To clear this level you need to appear for 5 papers out of which 3 papers are essential ones where as in the last two levels there are options that you can choose from.

  • ACCA part II focuses on ethics and governance risk, business analysis and corporate reporting and also advanced financial management, performance management, auditing and assurance and taxation.
  • Unlike other modern online examinations this exam is a written exam as it does test the ability of the candidate
  • To clear in each part of the examination the candidate needs 50% marks
  • The duration for each examination differs

ACCA Qualification Fees

Besides the registration fee for ACCA to appear for the examination you need to pay a specific fee. We can help you understand the examination fee structure better with the notes below.

Exam Level   Exam Entry Fee
Knowledge  F1, F2, F3 Early £72
Standard £76
Late £231
Skills  F4, F5, F6, F7, F8, F9 Early £93
Standard £98
Late £257
Professional  P1, P2, P3 and also any 2 from  P4, P5, P6, P7 Early £110
Standard £116
Late £277

Like you can see and notice in the chart above you have to make sure that you enroll for your examinations on time to avoid the late fee which is pretty high close to £100 to £200; hence you need make sure you register on time this will save you on a lot of money as in late charges. The chart above is self explanatory.

Above all the study material and the study at home audios are free on enrolling for ACCA examinations. Which means you will not end up spending for the study material.

Pass percentage for ACCA Exams

Because the next examination secession is due in June 2016 let us give to you the pass percentage rate for June 2015 ACCA examination.

ACCA Qualification

Fact source: ACCA Global

ACCA Exam Strategies

Remember there is only one rule pure and original hard work in any professional exam there are no short cuts. If you want to get there and get the right degree you have to work extremely hard and dedicatedly. Listed below are a few tips that can help you get there sooner.

  1. Before you take any career move or any career decision you plan similarly before you start studying for a professional course like ACCA you need to plan for the same. 1st of all plan how many papers would you like to clear in a single sitting. The plan how to study for them etc. Planning is extremely important.
  2. You need to know what you are studying and how you are studying. Hence it is extremely important to know the syllabus and the structure of the course very well.
  3. Understand the examiners approach towards the examination; which means you need to know what the examiner is expecting as an answer.
  4. Study only and only from the approved text or study material of ACCA. They have a defined and planned syllabus that they want you to study and understand. Hence you need to focus on their study material and study from the same.
  5. Have a set target of studying a part of work daily. A set target will help you understand better and also complete your portion on time.
  6. Do not try to memorize instead understand the concepts and the logic behind what you are asked to study. This will help you explain yourself better.
  7. In case you are stuck somewhere or you are unable to understand something you can refer to the audio and video tutorials, take help of the matter available.
  8. Very important practice papers solve as many as you can and get a better understanding of where you stand. Don’t forget to solve previous examinations papers. This will really help.
  9. Check examiners reports published on websites and also look for their marking schemes or their marking strategies; you will understand the how much you need to focus on what part of the portion.
  10. Analyze exam papers, examiners interviews and technical parts of the material and revise accordingly. Revision is important as it will help you recollect everything you have studied.

While you put in all your efforts in studying well do not forget to control yourself do not PANIC!!!. And make sure you rest well before your examination.

Here’s information on other important Accounts Certifications;

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