Accountancy as a profession has always garnered a lot of popularity among students across the world.
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An intro to ACCA tests
The ACCA certification is considered to be among the most distinguished qualifications on the planet and helps in securing high-paid tasks in the world of finance and accounting. If you want to pursue an accountancy career, getting this certification can give you an outstanding start.
This blog provides you a standard introduction of the different tests that you need to pass for an ACCA certification. Let’s start.
ACCA examination levels
There are several levels of tests to get an ACCA certification. Here is the summary of ACCA documents
ACCA qualification in the UK is made of 14 subject examinations that are divided into the following 3 levels. All the modules should be attempted in mathematical order.
- Basic level
- Professional level
- Principles and Professional Skills module
Fundamental level
The basic level of the certification is divided into 2 primary modules covering nine subject papers. The subjects in the first two modules are denoted with an initial ‘F.’
Understanding module
The knowledge module includes 3 papers and covers the primary locations of monetary and supervisory accounting.
- F1: AB– Accountant in Company
- F2: MA– Management Accounting
- F3: FA– Financial Accounting
A trainee can earn a Diploma in Accounting and Company on completion of the levels F1 to F3.
Skills module
The skills module handle six tests which cover technical concepts that the trainees would be anticipated to know.
- F4: CL– Corporate and Organization Law
- F5: PM– Performance Management
- F6: TX– Tax
- F7: FR– Financial Reporting
- F8: AA– Audit and Assurance
- F9: FM– Financial Management
A student can earn an Advanced Diploma in Accounting and Organization on finishing the abilities module in addition to the understanding module.
Expert level
The professional level also includes 2 modules. Both of them are set at a greater problem level like a Master’s degree. These modules cover more advanced skills, techniques, and principles which are required by an accounting professional in an advisory or expert function. The subjects in these modules are denoted by an initial ‘P.’
Essentials module
This module consists of 3 obligatory levels that trainees must pass to advance to the next level.
- P1: GR&E– Governance, Danger and Ethics
- P2: CR– Corporate Reporting
- P3: Bachelor’s Degree– Organization Analysis
Optional module
The module includes four papers, of which students require to pass only two papers.
- P4: AFM– Advanced Financial Management
- P5: APM– Advanced Efficiency management
- P6: ATX– Advanced Tax
- P7: AAA– Advanced Audit and Assurance
Ethics and professional abilities level
In addition to the 2 main levels, students must also pass the exam to gain exposure to a range of abilities that are required by companies from business and financial world. This online module exposes trainees to sensible circumstances that establish their ethical and expert skills.
ACCA examination policies
Here are the guidelines that have to be complied with anybody who wishes to pass his evaluation.
The ACCA exam has a strenuous examination system that evaluates your knowledge in an extensive variety of topics pertaining to the finance and accounting field. The credentials can prepare you for senior management or strategic roles in business and monetary sector
