A Comprehensive Guide to the 13 ACCA Papers & Exemptions
\Detailed guide to the 13 ACCA papers along with information about exemptions:
Applied Knowledge Level (3 Papers):
- Accountant in Business (AB):
- Covers business structure, governance, and management accounting principles.
- No prerequisite qualifications required.
- Management Accounting (MA):
- Focuses on management accounting techniques, costing, and budgeting.
- No prerequisite qualifications required.
- Financial Accounting (FA):
Introduces financial accounting principles, preparation of financial statements, and interpretation of financial information.
No prerequisite qualifications required.
Applied Skills Level (6 Papers):
- Corporate and Business Law (LW):
Covers business law, including contract and employment law, company formation, and governance.
- Performance Management (PM):
Focuses on management accounting techniques for decision-making and performance evaluation.
- Taxation (TX):
Introduces taxation principles for individuals and businesses.
- Financial Reporting (FR):
Covers preparation and interpretation of financial statements according to international accounting standards.
- Audit and Assurance (AA):
Focuses on audit process, internal controls, and reporting.
- Financial Management (FM):
Covers financial management principles, investment appraisal, and risk management.
Strategic Professional Level (4 Papers):
- Strategic Business Leader (SBL):
Integrates technical, ethical, and professional skills for strategic business decision-making.
No exemptions available.
- Strategic Business Reporting (SBR):
Focuses on preparation and presentation of financial reports.
- Advanced Financial Management (AFM):
Covers advanced financial management topics, including financial strategy and treasury management.
- Advanced Performance Management (APM):
Focuses on advanced management accounting techniques for strategic decision-making.
ACCA Exemptions for Different Qualifications
Exemptions for Association of Accounting Technicians (AAT)
AAT Qualification Level | ACCA Exemptions |
Foundation Certificate in Accounting (Level 1 AAT) | None (Introductory level in accounting) |
Advanced Diploma in Accounting (Level 2 AAT) | Applied Knowledge exams: · Business and Technology (BT) · Management Accounting (MA) · Financial Accounting (FA) |
Professional Diploma in Accounting (Level 3 AAT) | Applied Knowledge exams: – Business and Technology (BT) – Management Accounting (MA) – Financial Accounting (FA) Applied Skills exams (depends on modules completed): – Corporate and Business Law (LW) – Performance Management (PM) – Taxation (TX) – Financial Reporting (FR) |
If you have only completed certain exams within an AAT level but have not completed the entire level, it’s less likely that ACCA will grant exemptions based solely on these partial achievements.
Exemptions for Chartered Accountants (CA)
- As a CA student, you can avail upto 9 exemptions out of total 13 papers in ACCA .
- A student who has cleared CA Foundation exam does not get any exemptions
- On the basis of cleared CA Inter level, you can get upto 5 exemptions out of Total 13 papers in ACCA.
- Additionally, if you are a B.Com(H) graduate and who got 40+ marks in CA Final level papers of SFM, Costing and FM, you can claim 4 additional paid exemptions. These exemptions are also available if you are a qualified CA.
Qualifications | ACCA Exemptions |
CA Professionals | · Business and Technology (BT) · Management Accounting (MA) · Financial Accounting (FA) · Corporate and Business Law (LW) · Performance Management (PM) · Taxation (TX) · Financial Reporting (FR) · Audit and Assurance (AA) · Financial Management (FM)
|
CA Inter Qualified | · Business and Technology (BT) · Management Accounting (MA) · Financial Accounting (FA) · Taxation (TX) · Audit and Assurance (AA) · In case the student has also completed the B.Com /M.com in addition to Intermediate – they shall also have an exemption of Corporate and Business Law (LW)
|
- Students who have scored over 40 in a certain inter/final ca exam might be eligible for exemptions in relevant subjects.
Exemptions for B. Com & M. Com Graduates
BCom (Bachelor of Commerce) holders may receive exemptions from the following ACCA exams:
Qualifications | ACCA Exemptions |
Applied Knowledge Level | · Business and Technology (BT) · Management Accounting (MA) · Financial Accounting (FA)
|
Applied Skills Level | Corporate and Business Law (LW) |
The exact number of exemptions will depend on the specific modules you studied during your B. Com & M. Com degree, the university where you graduated, and the accreditation status of your program with ACCA.
Exemptions for MBA Holders
MBA (Master of Business Administration) graduates may be eligible for exemptions that typically include:
Qualifications | ACCA Exemptions |
Applied Knowledge Level | · Business and Technology (BT) · Management Accounting (MA) · Financial Accounting (FA) |
Applied Skills Level | Exemptions for papers like Performance Management (PM) and Financial Management (FM) may be granted depending on the specific content covered in the MBA program. |
Given the diversity of MBA programs, the exemptions can vary significantly. An MBA with a concentration in finance, for example, might result in more exemptions than a generalist MBA.
Exemption for BBA Qualified Students
BBA students only get exemption from 1 exam for ACCA
Qualifications | ACCA Exemptions |
Applied Knowledge | Business and Technology (BT) |
Exemptions for CPA
CPA Exam Section
| ACCA Exemptions |
FAR (Financial Accounting and Reporting) | Applied Knowledge: Financial Accounting (FA) Applied Skills: Financial Reporting (FR)
|
REG (Regulation) | Applied Knowledge: Business and Technology (BT) Applied Skills: Corporate and Business Law (LW) |
AUD (Auditing and Attestation) | Applied Skills: Audit and Assurance (AA) |
BEC (Business Environment and Concepts) | Applied Skills: Performance Management (PM) Applied Skills: Taxation (TX) |
Exemptions for CMA
If you have completed the full CMA Certification, you are likely to receive exemptions from most or all Applied Knowledge exams and possibly some Applied Skills exams, based on the specific content covered in the CMA curriculum.
Thus, you might be exempted from the following exams
CMA Exam Section | ACCA Exemptions |
Applied Knowledge Level: | -Business and Technology (BT) – Management Accounting (MA) – Financial Accounting (FA) |
Applied Skills Level: | – Corporate and Business Law (LW) – Taxation (TX) – Financial Reporting (FR) – Financial Management (FM) |
NOTE:
- Exemptions are subject to assessment by ACCA and may vary depending on the relevance and equivalence of prior learning.
- Exemption fees may apply for each paper exempted.
- It’s essential to check ACCA’s exemption policy and guidelines for the most accurate information.
Study Tips:
- Understand the syllabus and exam format for each paper.
- Utilize ACCA-approved study materials and resources.
- Practice past exam questions to familiarize yourself with the exam structure.
- Allocate sufficient time for study and revision.
- Stay updated with changes in accounting standards and industry trends.
By following these guidelines and dedicating adequate time and effort to each paper, you can effectively prepare for and excel in the ACCA qualification
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