ACCA Exam Structure Breakdown: Master Your Exam Format

The Association of Chartered Certified Accountants (ACCA) is an exam for accounting and finance that determines your career in the field. This exam tests your technical and professional skills to check if you qualify for the field. It is considered a tough exam that requires months to study and prepare, which is why many students struggle with the exam.

Understanding the ACCA exam structure is the most important and the most confusing part of preparing for the exam. There are many levels and modules in the exam format that can be confusing to get through. In order to prepare for the exam more effectively, it is crucial that you do your research and master your exam format before starting the preparation. That being said, this blog is about us explaining to you the exam format. Let’s start with the basics.

Basic Understanding of ACCA Levels and Modules

An ACCA exam structure breakdown starts with a basic understanding of ACCA levels and modules. These levels and modules help you understand the course structure in detail and provide insight for your exam preparation. There are two different levels in the ACCA exam structure. It includes a fundamental level and a professional level. Each of these levels has 2 different modules that we shall further discuss in this blog.

Fundamental level

Fundamental level of the ACCA exam structure is the starting point or theoretical aspect of the exam. It tests your skills on the foundation of finance and accounting. Fundamental level knowledge is the base of ACCA that can be categorized into two different modules. These modules cover the entire base of the fundamental level exam. They are knowledge modules and skill modules. These are the essential aspects of the ACCA exam structure. Let’s discuss them in detail.

1. Knowledge Module

The knowledge module in the ACCA exam structure covers three papers. They fall mostly under the financial and business categories. Checking your knowledge of finance and business is crucial since you need those skills in real life at the corporation. The three papers include Business and Technology, Management Accounting, and Financial Accounting. Each of them is equally important in the field. Here is a brief explanation of the three papers in the knowledge module:

F1: Business and Technology (BT)

This is the first paper in the ACCA exam structure. It covers business in the current market and the change in technology. The business and technology portion also checks the economic status and your knowledge on that matter. It is a 2-hour computer-based examination with two different sections that you need to answer on. The sections along with what they contain are described below:

Section A holds 76 marks and has 46 objective questions, 16 one-mark questions and 30 two-mark questions.
Section B holds 24 marks, which has 6 multi-task questions with 4 marks per question.

F2: Management Accounting (MA)

Management accounting portion of the applied knowledge module mainly focuses on costs, profit or loss and the decision-making process. It checks your knowledge of the application of costs and provides you with scenarios for effective decision-making. It is also a 2-hour computer-based examination with two different sections that are discussed below:

Section A has 35 objective questions that hold 2 marks each.
Section B consists of 3 multi-task questions with 10 marks each.

F3: Financial Accounting (FA)

Financial accounting paper checks your knowledge of financial matters like financial reporting, auditing, bookkeeping and so on. This portion also makes you prepare financial statements from raw data and understand the financial standards. It is a 2-hour computer-based examination with two sections discussed as follows:

Section A has 35 objective questions that hold 2 marks each.
Section B consists of 2 multi-task questions with 15 marks each.

So, these are the courses in knowledge modules along with their description of the types of questions they hold. Now that we understand the ACCA exam structure for the knowledge module, let us move on to the skill module.

2. Skill Module

As the name suggests, the skill module is about testing your skills in different aspects of ACCA. This module has six papers that solely focus on skill building. It dives deep into core accounting features and management techniques. Let’s discuss the ACCA exam structure with the skill module.

F4: Corporate and Business Law (LW)

This subject is the legal aspect of ACCA. You can expect questions on corporate law, corporate governance, ethics and any other legal aspect of an organisation. It is a 2-hour computer-based exam and the details are as follows:

Section A with 25 objective questions of 2 marks each along with 20 more objective questions with 1 mark each.
Section B consists of 5 multi-task questions with 6 marks each.

F5: Performance Management (PM)

Performance management paper contains questions on advanced management techniques. Unlike the other subjects that we have talked about so far, this exam can only be taken 4 times in a year. It can be taken in March, June, September or December. This is a 3-hour computer-based exam with 3 sections that are discussed below:

Section A consists of 15 objective questions with 2 marks each.
Section B has 3 case studies, 10 marks each.
Section C features 2 constructive response questions with 20 marks each.

F6: Taxation (TX)

This is a very important paper in the ACCA exam structure since it checks your understanding of taxes and VATs. The Taxation exam is similar to the performance management exam. It can also only be taken 4 times a year in March, June, September and December. It is a 3-hour computer-based exam that has the following sections:

Section A is worth 30 marks with 15 objective questions carrying 2 marks each.
Section B has three objective question case studies and 5 objective questions with 2 marks.
Section C has one 10-mark question and another 15-mark question.

F7: Financial Reporting (FR)

Financial reporting is a subject that focuses on applied knowledge. The questions in this paper will be related to generating reports on various financial and accounting matters. It can also be taken 4 times a year in March, June, September, or December. The format is exactly like F5: Performance Management. It is also a 3-hour computer-based exam with 3 sections that we already discussed in performance management. You can re-read that above to understand the sections in Financial Reporting.

F8: Audit and Assurance (AA)

Audit and Assurance are the procedures and systems followed to enhance the quality of any report. It falls under proofreading of the work that has already been completed. Audit and Assurance also follows a similar pattern of exams that can be given 4 times a year in March, June, September and December. It is a 3-hour computer-based exam that has the following sections:

Section A has 3 case studies with 10 marks each.
Section B has one question of 30 marks and 2 questions of 20 marks each.

F9: Financial Management (FM)

The final subject in the skill module is financial management. As the name suggests, this subject is all about finances and how you manage finances in certain scenarios. It follows the same exam pattern of F5: performance management and F7: financial reporting. It is also a 3-hour computer-based exam with 3 sections that we already discussed in performance management and financial reporting. You can re-read that above to understand the sections in Financial Management.

These are the different subjects in the skill module at the fundamental level. Now, let’s move on to the professional level.

Also Read: ACCA Subjects and Syllabus in Nepal

Professional Level

The professional-level ACCA exam structure is for advanced ACCA students who have already cleared the fundamental level and are looking to advance their academics further. It has 2 different modules that we shall discuss in this blog.

1. Essential Module

This module is the mandatory module for professionals and it has 2 courses. The essential module consists of Strategic Business Leader and Strategic Business Reporting. Let’s discuss them further.

P1: Strategic Business Leader

In this exam, you shall be tested on your leadership skills. A scenario is given to you where your strategic thinking and business mindset are applied. It is a compulsory course at the professional level of the ACCA exam structure. This 3-hour computer-based exam can be given four times a year in March, June, September and December. The exam includes three tasks, each assigned a different mark.

P2: Strategic Business Reporting (SBR)

Strategic business reporting is a report-building process in ACCA. It is the second and final essential module for professionals to study. Your reporting skills will be tested in this exam. This is also a 3-hour computer-based exam that is mostly taken four times a year in March, June, September or December. It has two different sections that we shall further discuss.

Section A has 2 questions, one worth 30 marks and the other worth 20.
Section B has 2 questions, each worth 25 marks.

So, these are the two courses in the essential module of the professional level. The professional level also has an optional module that we shall discuss briefly in this blog.

2. Option module

The optional module is extra courses available in the ACCA exam structure. These are not mandatory subjects, but you can study them as your electives or just for advanced knowledge. We shall discuss four of them in brief.

P3: Advanced Financial Management (AFM)

This course covers deep knowledge of finance that is usually used in big companies to manage their finances.

P4: Advanced Performance Management (APM)

This course tests your performance in the overall commerce world and helps you better your personal skills by making you more organised.

P5: Advanced Taxation (ATX)

Tax is a major part of life, and this course will ensure you can do all your taxes and many more. It teaches you everything you need to know about taxation.

P6: Advanced Audit and Assurance (AAA)

After studying basic auditing and assurance, you can pick this course so that you can dive deeper and understand advanced audits. It helps you better your career in the long run.

So, these are the optional modules at the professional level of ACCA. All 4 of them follow the same exam pattern. The exam is 3 hours long and computer-based. They can also be taken 4 times a year in March, June, September or December. The paper is divided into two sections.

Section A consists of a single case study worth 50 marks.
Section B has two questions worth 25 marks each.

Now that we have discussed the ACCA exam structure in full detail, let us give you some tips to ace these exams and build your career in the competitive field of ACCA.

Read More: Acca Exam Fees In Nepal: Get Insights

5 Expert Tips to Master Your ACCA Exams

ACCA is a difficult paper to crack. So, let us provide you with some expert tips to guide you through the exam since you now know what the exam format is. Here are 5 expert tips to master your ACCA exam papers.

1. Understand the Exam Structure

We have discussed the exam structure in this blog. It is important that you understand the structure before deciding on the ACCA exam dates. Read the structure discussed above and do more research based on your subjects of interest. That way, you know when your exams can be taken and how you can create a plan of study.

2. Create a Study Plan

ACCA is a difficult exam, so one of the major tips is to create a study plan that you can follow so that the course load doesn’t overwhelm you in any way. A study plan is crucial for an ACCA student since it is a tough paper to crack and requires a lot of planning. Studying without a plan is disorganised and messy, which can lead to failure.

3. Practice Past Papers

Practising past question papers by checking the ACCA papers list helps you understand the pattern better and makes you more comfortable with the format. There may also be some repetitive questions which boost your chances of passing the paper. Past papers also help you test yourself on how much you can answer based on your preparation so far.

4. Use Official Resources

You can find study materials online, but you must only trust the official website of ACCA. That way, your preparation is more effective and you are not getting any wrong information. Preparing using official resources saves time since you don’t have to worry about misinformation and it also helps you understand the pattern better.

5. Join Study Groups or Forums

Study groups are a great way of efficient learning. It also helps improve your social skills and make new study buddies. Joining these groups can ease your pressure on the exam. Students in these groups are on the same path as you, so you can help and guide each other and become better together.

These are the 5 expert tips to master your ACCA exams. Just make sure you have a plan and stick to it. There are many more tips for studying that you can find online and implement accordingly.

Conclusion

The ACCA exam is a difficult test that requires a proper understanding of the ACCA exam structure and a study plan that can be followed through. We hope this blog answers some of your questions. By being familiar with the study pattern and having a schedule to follow, you can ace the ACCA exam in one single try. For more blogs like this, do visit our other blog. You can contact Seekshya Academy, the best ACCA College in Nepal, for your ACCA courses and their preparation. Thank you for reading till the end!

Other Related Blog:

FAQ on Exam Structure

1. What is the format of the ACCA exam?

The ACCA exam format is a 2-3 hour exam depending on the subject. Fundamental subjects are 2 hours long and the advanced subjects are 3 hours long. The questions are MCQs, case studies and many more.

2. How to structure ACCA exams?

ACCA exam follows the structure of two levels: professional and fundamental, further divided into different modules along with subsections to understand them better. The structure can be confusing if not studied well.

3. What are the stages of the ACCA exam?

The ACCA exam has three main stages. They are Applied Knowledge, Applied Skills, and Strategic Professional. All of these check your skills on ACCA separately and together, depending on the paper and the format.

4. Which is the hardest exam in ACCA?

ACCA is already a hard subject, so the hardest exam depends on your own skills and reading ability. Hard subjects are different for each student since some prefer mathematical subjects over theoretical ones and vice versa.

5. What are the 13 subjects in ACCA?

The 13 subjects in ACCA are: 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), Strategic Business Leader (SBL), Strategic Business Reporting (SBR), Advanced Financial Management (AFM), and Advanced Taxation (ATX).