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What are the changes to the ACCA Qualification?

What are the changes to the ACCA Qualification?. FUNDAMENTALS : Knowledge F1, F2, F3. FUNDAMENTALS. PROFESSIONAL. Knowledge. Skills. Essentials. Options. F1 F2 F3. F4 F5 F6 F7 F8 F9. P1 P2 P3. P4 P5 P6 P7. FUNDAMENTALS : Knowledge F1, F2, F3. New exam style.

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What are the changes to the ACCA Qualification?

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  1. What are the changes to the ACCA Qualification?

  2. FUNDAMENTALS :KnowledgeF1, F2, F3 FUNDAMENTALS PROFESSIONAL Knowledge Skills Essentials Options F1 F2 F3 F4 F5 F6 F7 F8 F9 P1 P2 P3 P4 P5 P6 P7

  3. FUNDAMENTALS :KnowledgeF1, F2, F3 New exam style Amended syllabuses F3 - one version

  4. MAIN SYLLABUS DIFFERENCES • F1 Sections slightly reordered, contains more on accounting information and reports. Focuses more on fraud, accounting systems, money laundering and ethics, including conflict resolution. • F2 More focus on planning, control and performance measurement, such as budgeting and standard costing. Amended to better underpin F5. • F3 More emphasis on the regulatory framework, drafting accounts and on reporting business transactions and the accounts of unincorporated business. This syllabus also includes more on basic consolidations of accounts and interpretation. • Better underpins F7 in syllabus and question type as 15 mark questions introduced in CBE and paper exams.

  5. Section A 16 x one-mark short objective test questions and 30 x two-mark short objective test questions Section B 6 x four-mark longer version objective test questions, one taken from each of the six sections of the syllabus Paper F1, Accounting in Business FUNDAMENTALS :KnowledgeF1, F2, F3

  6. Section A 35 x two-mark short objective test questions Section B 3 x 10-mark longer version objective test questions – one taken from each of the budgeting, standard costing and performance measurement sections of the syllabus Paper F2, Management Accounting FUNDAMENTALS :KnowledgeF1, F2, F3

  7. Section A 35 x two-mark short objective test questions Section B 2 x 15 mark longer version objective test questions with one question based on group accounts and the other on preparation of financial statements Paper F3, Financial Accounting FUNDAMENTALS :KnowledgeF1, F2, F3

  8. FUNDAMENTALS :SkillsF4, F5, F6, F7, F8, F9 FUNDAMENTALS PROFESSIONAL Knowledge Skills Essentials Options F1 F2 F3 F4 F5 F6 F7 F8 F9 P1 P2 P3 P4 P5 P6 P7

  9. FUNDAMENTALS :SkillsF4, F5, F6, F7, F8, F9 F4 - no changes F5 - decision-making, environmental accounting F6 (UK) - IHT, overseas transactions for VAT

  10. FUNDAMENTALS :SkillsF4, F5, F6, F7, F8, F9 F7 - legal / regulatory info, UK based on IFRS F8 - updated syllabus F9 - Islamic finance

  11. PROFESSIONAL :EssentialsP1, P2, P3 FUNDAMENTALS PROFESSIONAL Knowledge Skills Essentials Options F1 F2 F3 F4 F5 F6 F7 F8 F9 P1 P2 P3 P4 P5 P6 P7

  12. PROFESSIONAL :EssentialsP1, P2, P3 P1 - business risk Governance, Risk and Ethics Professional Accountant

  13. PROFESSIONAL :EssentialsP1, P2, P3 P2 - SMEs, consolidated accounts, entity reconstructions P3 –management accounting added

  14. PROFESSIONAL :OptionsP4, P5, P6, P7 FUNDAMENTALS PROFESSIONAL Knowledge Skills Essentials Options F1 F2 F3 F4 F5 F6 F7 F8 F9 P1 P2 P3 P4 P5 P6 P7

  15. PROFESSIONAL :OptionsP4, P5, P6, P7 P4 - syllabus rearranged P5 - remove overlap with F5 and P3 P6 (UK) - June 2013 - basic IHT removed

  16. PROFESSIONAL :OptionsP4, P5, P6, P7 P7 - internal audit amended, practice management, assignments and reporting removed Changes to style of questions in Section A to integrate requirements and make more “real life”

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