ACCA Subjects and Syllabus in Nepal
Looking to take your accounting skills to the next level? The (Association of Chartered Certified Accountants) ACCA qualification is a way to global opportunities. ACCA is known for its globally recognized curriculum, which is also a popular choice in Nepal. This specifically designed course provides you with the knowledge and skills to succeed in the accounting and finance industry.
Whether you are willing to work in multinational corporations, public practice, or start your own company, ACCA provides a solid foundation in accounting and financial management. In this blog, we discuss the structure/syllabus of ACCA exams for 2024.
The ACCA course focuses on not only giving theoretical knowledge but also developing your skills and practical experience.
What is ACCA
The Association of Chartered Certified Accountants (ACCA) is an accounting qualification that is accepted by 180 plus countries all over the world. The headquarter of a global professional accounting organisation is in London, UK. This specifically designed curriculum of ACCA helps to develop the ethics, knowledge, and skills required to succeed. Pursuing an ACCA degree in Nepal is a wise career choice. It offers a comprehensive understanding in the areas of business law, auditing, finance, taxation, and accounting principles. The practical experience requirement ensures not only theoretical knowledge but also hands-on experience in the enterprises. ACCA graduates are highly valued for their expertise and skills and play important roles in various industries, such as banks, auditing firms, and non-governmental organisations. Their skills ensure the smooth operation and financial integrity of these institutions. ACCA professionals often work on financial management, risk assessment, auditing, and many other things. Thus, the knowledge, value, ethics, and experience you gain during the ACCA course sets you apart in the fields of finance, accounting, and business management.ACCA Subjects/Syllabus
To become an ACCA member, all it takes is passing 3 levels and a total of 13 ACCA subjects. However, exemptions may be available to you depending on the qualifications- for example, if you are a CA. You can get 9 exceptions and proceed directly to the final level. So, the ACCA course structure has three levels i.e. Knowledge, Skills and Professional level. For the successful completion of the ACCA course, it requires in-depth dedication and regular practice with genuine effort. You need to complete an entire level before moving to the next, however, you can decide the sequence of papers at each level. The overview of the levels and subjects in each level are as follows:Applied Knowledge Level
The first level of the ACCA course is the Applied Knowledge Level which focuses on knowledge and understanding of the subjects. It is designed to introduce the core areas of financial management accounting along with the basics of business and technologies. The subjects included at this level of ACCA are as follows:Business Technology (BT)- Paper F1
Business Technology introduces you to the business environment and how to be a better business person. It also teaches the different aspects of running an organisation and the role of information systems in business operations. You learn ethical behaviour regarding employment and financial influences like competition law or tax with the dynamics of the business world. After completing this level, you understand the nature and purpose of business, organisation structure, information systems, and the impact of technology on business. ACCA syllabus covered in Paper F1 are:- Business organisation and external environmental factors
- Organisational structure, culture, governance, and sustainability in business
- Leadership and Management
- Accounting functions, regulation, and technology
- Personal effectiveness, hiring and training, and communication in business
- Professional Ethics
Management Accounting (MA)- Paper F2
Management accounting focuses on budgeting, cost accounting, and performance management. This paper provides you with the knowledge of making informed decisions that lead to the company's success. You learn different techniques for planning, controlling, and monitoring business activities. This subject equips you with the skills to manage accounts in an organisation to support businesses with their overall performance. ACCA syllabus covered in this Paper F2 are:- Understanding the nature, scope, and purpose of cost and management accounting
- Applying cost accounting techniques
- Techniques for making quick decisions
- Performance evaluation through measurement techniques
- Implementing budgeting strategies
- Employing standard costing methods
- Utilising data analysis and statistical techniques
Financial Accounting (FA)- Paper F3
This paper helps you understand financial accounting principles and practices. It ensures you demonstrate technical competency in using and interpreting basic financial statements. You understand how double-entry accounting processes, including creating and analysing statements. Clearing this paper is like holding the key to a company's financial health. This topic covers the creation of financial statements for sole traders, partnerships, and companies, as well as the knowledge of fundamental rules and laws of financial accounting. ACCA syllabus covered in this Paper F3 are:- Financial reporting context and goal
- Applying accounting principles, concepts, and qualitative characteristics
- Implementing Double-entry accounting methods
- Keeping track of events and transactions accurately
- Trial balance preparation for the review
- Preparation of financial statements
- Conducting effective reconciliations
- Interpreting financial statements for analysis
Applied Skills Level
The Applied Skills level helps to build skills on the knowledge and understanding you gained during the Knowledge level. This module develops the solid, broad, and practical finance abilities required to work as a professional and succeed in any sector or company. The subjects in this paper are designed to test the ability to apply knowledge and understanding to practical situations. Note: The syllabus for the exam changes every September except for the Tax which changes every June. To know more about the changes in the syllabus, contact Seekshya Academy. The subjects included at the Applied Skills level are as follows:Corporate and Business Law (LW)- Paper F4
This ACCA subject develops knowledge and improves your understanding of the legal framework. It introduces the business related legal concerns and specific areas in which business cooperates. ACCA syllabus covered in this Paper F4 are:- Understanding components of the legal system
- Exploring the law of obligations
- Analysing employment law
- Investigating the establishment and constitution of business organisations
- Examining capital and business finance
- Studying management, administration, and regulation of companies
- Understanding insolvency law concepts
- Addressing ethical issues related to business
Performance Management (PM)- Paper F5
This paper teaches management accounting concepts and focuses on performance measurement and management accounting techniques. You learn to apply the knowledge in different aspects, such as planning and decision-making for evaluating and controlling performance using qualitative and quantitative data. ACCA syllabus covered in this Paper F5 are:- Exploring management information systems and data analytics
- Utilising decision making techniques effectively
- Analysing standard costing and applying management accounting techniques
- Implementing budgeting and control strategies
- Evaluating performance measurement and control methods
- Enhancing employability and technology skills for the modern workplace
Taxation (TX)- Paper F6
This paper covers the principles and practices of taxation. It helps to develop knowledge and skills about business taxation as it applies to people, single companies, firms, and groups of businesses. This teaches you the calculation of income tax, value-added tax (VAT), and corporation tax. ACCA syllabus covered in this Paper F6 are:- Comprehensive computation of corporation tax liability
- Computation of VAT liabilities
- Calculation of taxable total profits, including computing capital allowance.
- Understanding the UK tax system and its administration
- Calculating National Insurance Contributions (NIC)
- Understanding VAT regulations
- Examining Inheritance tax implications
- Enhancing employability and technology skills for tax professionals.
- Analysing corporation tax liabilities for businesses
Financial Reporting (FR)- Paper F7
Financial reporting extends the knowledge you gain in financial accounting. You develop knowledge and skills about accounting standards and preparing and presenting financial statements, including analysis and interpretation. ACCA syllabus covered in this Paper F7 are:- Conceptual framework and regulatory framework for financial reporting
- Accounting for transactions in financial statements
- Preparing financial statements
- Analysis and interpretation of financial statements
- Enhancing employability and technology skills
Audit and Assurance (AA)- Paper F8
This subject introduces the information and skills that the financial manager requires to make decisions regarding finance, investment, and dividend policy. Audit and Assurance teaches you the principles and practices of auditing and assurance services and how to apply them in a regulatory framework. ACCA syllabus covered in this Paper F8 are:- Audit framework and regulation
- Professional Ethics and ACCA’s Code of Ethics and Conduct
- Explain and evaluate the benefits and challenges of using automated tools and techniques in an audit engagement.
- Planning and conducting risk assessments
- Evaluating internal control systems
- Enhancing employability and technology skills for auditors
Financial Management (FM)- Paper F9
Financial management comprises the principles and techniques of the finances of the company. You learn all aspects of investment, financing, and dividend policy decisions. This paper teaches you about financial decision-making, investment appraisal, risk management, and working capital management. ACCA syllabus covered in this Paper F9 are:- Understanding the financial management function
- Analysing the financial management environment
- Managing working capital effectively
- Valuation of investments and businesses
- Securing business finance and funding sources
- Performing business valuations accurately
- Performing risk analysis for businesses
Strategic Professional Level
The strategic professional-level papers help to develop a unique blend of technical, ethical, and professional skills. The subjects at this level are categorised into two types, i.e. essential and optional. These papers help to develop a unique blend of technical, ethical, and professional skills.Essentials Paper
The essentials include the papers that you must clear for completing the ACCA course. There are two papers in this category, they are as follows:Strategic Business Leader (SBL)- Paper P1
The strategic business leader exam assesses your decision-making skills and leadership abilities. You have to tackle real-world scenarios, applying business understanding to solve problems you might face. Also, you must demonstrate proficiency in strategic thinking and effective communication. ACCA syllabus covered in this Paper F1 are:- Developing effective leadership skills
- Understanding corporate governance principles
- Formulating strategic plans for the success of the organisation
- Identifying and managing risks effectively
- Implementing controls and auditing processes
- Utilising financial information for decision-making
- Facilitating organisational changes
Strategic Business Reporting (SBR)- Paper P2
The strategic business reporting exam assesses your ability to make strategic business reporting decisions and the concept and theories of how these work in the corporate world. You need to learn and practise the duties of an accountant in terms of ethics and professionalism, the financial reporting framework, and the preparation of financial statements for group entities. You are tested for the different types of reports that can lead an organisation toward success. ACCA syllabus covered in this Paper F2 are:- Introduction and Integration of IFRS Sustainability Disclosure Standards.
- Presentation of Financial Statements to explicitly state that the features, structure, and content of financial statements are examinable.
- Upholding fundamental ethical and professional principles
- Understanding the financial reporting framework
- Reporting financial performance for various entities
- Preparing financial statements for groups of entities
- Interpreting financial statements for diverse stakeholders
- Assessing the impact of changes in accounting regulation
Optional Papers
The optional papers include the papers that you must clear for completing the ACCA course. There are four papers in this category but you can choose any two out of four, they are as follows:Advanced Financial Management (AFM)
This paper gives you a theoretical understanding of the financial industry trends and managing risks. AFM focuses on developing the skills to make financial management decisions as expected of a Senior Financial Executive or Advisor in the private and public sectors. ACCA syllabus covered in this AFM paper are:- Roles of Senior Financial Advisor
- Implementing treasury and advanced risk management techniques
- Developing skills for effective leadership
- Overseeing corporate reorganisation and reconstruction
- Conducting advanced investment appraisals
- Managing acquisitions and mergers effectively
Advanced Performance Management (APM)
APM paper focuses on the development of relevant knowledge, skills, and exercises to apply strategic management accounting techniques for different business contexts. It is designed to enhance the ability to evaluate performance or development strategies within organisations. ACCA syllabus covered in this APM paper are:- Strategic planning and control
- Performance management and technology advancements
- Systems performance and design
- Assessing the effectiveness of performance management initiatives
- Economic Factors
Advanced Taxation (ATX)
In ATX, you learn significant taxes on financial decisions and situations to provide relevant informational guidance on how extensive taxes affect monetary choices. This focuses on practising professional judgment in giving advice that is best for your client. Note: The syllabus of ATX changes every June, unlike other ACCA subjects. ACCA syllabus covered in this ATX paper are:- Study of the UK Tax System
- Tax impact analysis
- Tax Liability Management
- Communication with client
Advanced Audit and Assurance (AAA)
The AAA paper tests your skills if you are ready for the challenges of an assurance engagement. You develop the skills of preparing well and assessing the risks involved with different projects/clients. You should also analyse the changes within industries to keep yourself informed. ACCA syllabus covered in this AAA paper are:- Regulatory Environment
- Professional Ethics
- Audit of social, environmental, sustainability, and integrated reporting
- Quality and Practise Management
- Clarification of Quality Management
- Developments in Sustainability Assurance
- Completion, Review, and Reporting
- Updated with current issues and developments
ACCA Exam Pattern, Duration and Schedule
The ACCA exams schedule is flexible, allowing you to plan your exams based on your commitments. Exams are conducted four times yearly- in March, June, September, and December. You can book your exam date in advance, up to 14 weeks before the exam. This gives the benefit of planning your study schedule effectively. The exam process for ACCA is challenging. Most of the exams are conducted through CBE, i.e., Computer-based exams. CBE ensures fair exams and assessments. Session CBEs are conducted during specific times of the year- March, June, September, and December. These exams are for Applied skills and Strategic professional levels. On-demand CBEs can be taken any time of the year and are for applied knowledge and applied skills papers. The exam pattern and duration of the ACCA exam differ from Multiple-choice questions (MCQs) to Long-form questions which are mentioned below:| Subjects | Exam Duration | Exam Pattern |
| Business and Technology (BT) | 2 Hrs On-Demand CBE | The BT paper is divided into two sections: Section A consists of 35 objective-type questions each of 2 marks, and Section B consists of three multi-task questions of 10 marks each. |
| Management Accounting (MA) | 2 Hrs On-Demand CBE | The MA paper is divided into two sections. Section A consists of 35 objective-type questions of 2 marks each, and Section B contains three multi-task questions of 10 marks each. |
| Financial Accounting (FA) | 2 Hrs On-Demand CBE | The FA paper is divided into two sections. Section A contains 35 objective questions of 2 marks each, and Section B consists of 2 questions of 15 marks each. |
| Corporate and Business Law (LW) | 2 Hrs On-Demand CBE | The LW paper is divided into two sections. Where Section A consists of 25 objective-type questions of 2 marks each and 20 questions of 1 mark each. Section B contains five multi-task questions of 6 marks each. |
| Performance Management (PM) | 3 Hrs Session CBE | The PM paper is divided into two sections. Where Section A contains 30 objective questions of 2 marks each, and Section B consists of 2 constructed-response workspace questions of 20 marks each. |
| Taxation (TX) | 3 Hrs Session CBE | The TX paper is again divided into two sections. Section A contains 30 objectives questions of 2 marks each, and Section B consists of 2 constructed-response workspace questions of 20 marks each |
| Financial Reporting (FR) | 3 Hrs Session CBE | The FR paper is divided into two sections. Section A contains 30 objective questions of 2 marks each, and section B consists of 2 constructed-response workspace questions of 20 marks each. |
| Audit and Assurance (AA) | 3 Hrs Session CBE | This paper is divided into two sections. Section A contains 15 objective questions of 2 marks each, and Section B consists of two 20 marks and one 30-mark constructed response workspace question. |
| Financial Management (FM) | 3 Hrs Session CBE | The FM paper is divided into two sections. Section A contains 30 objective questions of 2 marks each, and Section B of 2 constructed-response workspace questions of 20 marks each. |
| Advanced Financial Management- AFM (Optional) | 3 Hrs Session CBE | This optional paper contains only one section consisting of two 25-mark questions and one 50-mark question. |
| Advanced Performance Management- APM (Optional) | 3 Hrs Session CBE | This subjective paper contains only one section of two 25-mark questions and one 50-mark question. |
| Advanced Taxation- ATX (Optional) | 3 Hrs Session CBE | This subjective paper consists of only 1 section of two questions of 25 marks each and one question of 50 marks. |
| Advanced Audit and Assurance (Optional) | 3 Hrs Session CBE | This subjective paper consists of 1 section of two questions of 25 marks each and one question of 50 marks. |
| Strategic Business Leader- SBL (Compulsory) | 3 Hrs Session CBE | It is a subjective paper with only one section consisting of one 80 marks question and 20 marks for professional skills |
| Strategic Business Reporting- SBR (Compulsory) | 3 Hrs Session CBE | This subjective paper consists of one section containing two questions of 25 marks and one question of 50 marks. |
Conclusion
The ACCA course offers a pathway to global opportunities in accounting and finance. This covers essential topics like business law, auditing, finance, and taxation which help you to enhance your skills. Studying ACCA in Nepal ensures both theoretical knowledge and practical skills, making you valuable in different industries. The flexible exam schedule allows you to balance studies with other commitments. This qualification not only builds technical abilities but also leadership and strategic thinking skills. Start your journey today and achieve your professional goals. We hope you found this helpful. Thank you for reading till the end. Enrol in ACCA and embark on a journey that rewards a successful career in accounting and finance. If you want to know more, contact the best ACCA college in Nepal- Seekshya Academy.FAQs
What are the subjects in the ACCA course?
The subjects in the ACCA course are mentioned below:- Applied Knowledge Level
- Business Technology
- Management Accounting
- Financial Accounting
- Applied Skills Level
- Corporate and Business Law
- Performance Management
- Taxation
- Financial Reporting
- Audit and Assurance
- Financial Management
- Strategic Professional Level
- Essential Papers
- Strategic Business Leader
- Strategic Business Reporting
- Optional Paper (Choose any 2 out of 4)
- Advanced Financial Management
- Advanced Performance Management
- Advanced Taxation
- Advanced Audit and Assurance
- Essential Papers