ACCA Fundamentals and Professional

The ACCA Fundamentals and Professionals levels, when combined with approved practical experience, form the full ACCA qualification and are structured to nurture respected, well rounded, global finance professionals

Specialisation

Towards the end of the qualification, students can choose to specialise in management disciplines, practice (audit and taxation), or a combination of the two. The opportunity to specialise is what attracts many to this world-renowned qualification. If you choose advanced audit and assurance in your final stage you will be legally able to sign audit reports in practice after obtaining your audit certificate.

Fundamentals – The Syllabus

This level has nine areas of study, divided into two modules.The Knowledge module gives you a broad introduction to financial and management accounting (See Diploma in Accounting & Business)

The Skills module covers the main technical subjects you need to know and consist of the following papers:

(LW) F4 Corporate and Business Law
(PM) F5 Performance Management
(TX) F6 Taxation
(FR) F7 Financial Reporting
(AA) F8 Audit and Assurance
(FM) F9 Financial Management

(LW) F4 Corporate and Business Law (English) (Sept 17 – August 18)

AimTo develop knowledge and skills in the understanding of the general legal framework, and of specific legal areas relating to business, recognising the need to seek further specialist legal advice where necessary.
On successful completion of this paper candidates should be able to:

  1. Identify the essential elements of the legal system, including the main sources of law
  2. Recognise and apply the appropriate legal rules relating to the law of obligations
  3. Explain and apply the law relating to employment relationships
  4. Distinguish between alternative forms and constitutions of business organisations
  5. Recognise and compare types of capital and the financing of companies
  6. Describe and explain how companies are managed, administered and regulated
  7. Recognise the legal implications relating to insolvency law
  8. Demonstrate an understanding of corporate fraudulent and criminal behaviour

Approach to Examining the Syllabus

The syllabus is assessed by a two-hour computer-based examination.
The examination consists of:

Section A 25 x 2 mark objective test questions (50%), 20 x 1 mark objective test questions (20%)
Section B 5 x 6 mark multi-task question (30%). All questions are compulsory.

The CBE exam can be taken at Reed Business School. See CBE Exam Centre (insert hyper link to below Section 4) for further details

For full details on the syllabus content, visit the ACCA website

(PM) F5 Performance Management (Sept 17 – June 18)

Aim

To develop knowledge and skills in the application of management accounting techniques to quantitative and qualitative information for planning, decision-making, performance evaluation, and control

On successful completion of this paper, candidates should be able to:

  1. Explain and apply cost accounting techniques
  2. Select and appropriately apply decision-making techniques to facilitate business decisions and promote efficient and effective use of scarce business resources, appreciating the risks and uncertainty inherent in business and controlling those risks
  3. Identify and apply appropriate budgeting techniques and methods for planning and control and use standard costing systems to measure and control business performance and to identify remedial action
  4. Identify and discuss performance management information and measurement systems and assess the performance of an organisation from both a financial and non financial viewpoint, appreciating the problems of controlling divisionalised businesses and the importance of allowing for external aspects

Approach to Examining the Syllabus

The syllabus is assessed by a three-hour examination available in both computer-based and paper-based formats. * *For paper-based exams there is an extra 15 minutes to reflect the manual effort required.

All questions are compulsory. It will contain both computational and discursive elements. Some questions will adopt a scenario/case study approach.

Section A of the exam comprises 15 multiple choice questions of 2 marks each.

Section B of the exam comprises three questions comprised of 5 multiple choice questions

Section C of the exam comprises two 20 mark questions.

The two 20 mark questions will come from decision making techniques, budgeting and control and/or performance measurement and control areas of the syllabus. The section A questions and the questions in section B can cover any areas of the syllabus. Candidates are provided with a formulae sheet.

For full details on the syllabus content, visit the ACCA website

(TX) F6 Taxation (UK) (1 April 18 – 31 March 19)

Aim

To develop knowledge and skills relating to the tax system as applicable to individuals, single companies, and groups of companies.

On successful completion of this paper candidates should be able to:

  1. Explain the operation and scope of the tax system and the obligations of tax payer and/or their agents and the implications of noncompliance
  2. Explain and compute the income tax liabilities of individuals and the effect of national insurance contributions (NIC) on employees, employers and the self-employed
  3. Explain and compute the chargeable gains arising on individuals
  4. Explain and compute the inheritance tax liabilities of individuals
  5. Explain and compute the corporation tax liabilities of individual companies and groups of companies
  6. Explain and compute the effects of value added tax on incorporated and unincorporated businesses

Approach to Examining the Syllabus

The syllabus is assessed by a three-hour examination available in both computer-based and paper-based formats.*
*For paper-based exams there is an extra 15 minutes to reflect the manual effort required.

The exam will be predominantly computational and all questions are compulsory.

Section A of the exam comprises 15 multiple choice questions of 2 marks each.

Section B of the exam comprises three 10 mark questions which comprise five multiple choice questions of 2 marks each.

Section C of the exam will comprise one 10 mark question and two 15 mark questions.

The two 15 mark questions will focus on income tax (syllabus area B) and corporation tax (syllabus area E).

All other questions can cover any areas of the syllabus

For full details on the syllabus content, visit the ACCA website

(FR) F7 Financial Reporting (Sept 17 – June 18)

Aim

To develop knowledge and skills in understanding and applying accounting standards and the theoretical framework in the preparation of financial statements of entities, including groups and how to analyse and interpret those financial statements.

On successful completion of this paper candidates should be able to:

  1. Discuss and apply a conceptual and regulatory frameworks for financial reporting
  2. Account for transactions in accordance with International accounting standards
  3. Analyse and interpret financial statements
  4. Prepare and present financial statements for single entities and business combinations in accordance with International accounting standards

Approach to Examining the Syllabus

The syllabus is assessed by a three-hour examination available in both computer-based and paper-based formats.* *For paper-based exams there is an extra 15 minutes to reflect the manual effort required.

All questions are compulsory. It will contain both computational and discursive elements. Some questions will adopt a scenario/case study approach.

Section A of the exam comprises 15 objective test questions of 2 marks each.
Section B of the exam comprises three 10 mark case-based questions. Each case has five objective test questions of 2 marks each.
Section C of the exam comprises two 20 mark questions.

The 20 mark questions will examine the interpretation and preparation of financial statements for either a single entity or a group. The section A questions and the other questions in section B can cover any areas of the syllabus.

An individual question may often involve elements that relate to different subject areas of the syllabus. For example the preparation of an entity’s financial statements could include matters relating to several accounting standards.

Questions may ask candidates to comment on the appropriateness or acceptability of management’s opinion or chosen accounting treatment. An understanding of accounting principles and concepts and how these are applied to practical examples will be tested.

Questions on topic areas that are also included in Paper F3 will be examined at an appropriately greater depth in this paper.

Candidates will be expected to have an appreciation of the need for specified accounting standards and why they have been issued. For detailed or complex standards, candidates need to be aware of their principles and key elements.

For full details on the syllabus content, visit the ACCA website

(AA) F8 Audit and Assurance (Sept 17 – June 18)

Aim

To develop knowledge and understanding of the process of carrying out the assurance engagement and its application in the context of the professional regulatory framework.

On successful completion of this paper, candidates should be able to:

  1. Explain the concept of audit and assurance and the functions of audit, corporate governance, including ethics and professional conduct, describing the scope and distinguishing between the functions of internal and external audit
  2. Demonstrate how the auditor obtains and accepts audit engagements, obtains an understanding of the entity and its environment, assesses the risk of material misstatement (whether arising from fraud or other irregularities) and plans an audit of financial statements
  3. Describe and evaluate internal controls, techniques and audit tests, including IT systems to identify and communicate control risks and their potential consequences, making appropriate recommendations
  4. Identify and describe the work and evidence obtained by the auditor and others required to meet the objectives of audit engagements and the application of the International Standards on Auditing (ISAs)
  5. Explain how consideration of subsequent events and the going concern principle can inform the conclusions from audit work and are reflected in different types of auditor’s report, written representations and the final review and report

Approach to Examining the Syllabus

The syllabus is assessed by a three-hour examination available in both computer-based and paper-based formats.* *For paper-based exams there is an extra 15 minutes to reflect the manual effort required.

Section A of the exam comprises three 10 mark case-based questions. Each case has five objective test questions worth 2 marks each.

Section B of the exam comprises one 30 mark question and two 20 mark questions.
Section B of the exam will predominantly examine one or more aspects of audit and assurance from planning and risk assessment, internal control or audit evidence, although topics from other syllabus areas may also be included

For full details on the syllabus content, visit the ACCA website

(FM) F9 Financial Management (Sept 17 – June 18)

Aim

To develop the knowledge and skills expected of a finance manager, in relation to investment, financing, and dividend policy decisions.

On successful completion of this paper candidates should be able to:

  1. Discuss the role and purpose of the financial management function
  2. Assess and discuss the impact of the economic environment on financial management
  3. Discuss and apply working capital management techniques
  4. Carry out effective investment appraisal
  5. Identify and evaluate alternative sources of business finance F Discuss and apply principles of business and asset valuations
  6. Explain and apply risk management techniques in business

Approach to Examining the Syllabus

The syllabus is assessed by a three-hour examination available in both computer-based and paper-based formats.*
*For paper-based exams there is an extra 15 minutes to reflect the manual effort required.

All questions are compulsory. It will contain both computational and discursive elements. Some questions will adopt a scenario/case study approach.

Section A of the exam comprises 15 multiple choice questions of 2 marks each.
Section B of the exam comprises three scenarios consisting of 15 multiple choice questions of 2 marks each
Section C contains two 20 mark questions.

The two 20 mark questions will mainly come from working capital management, investment appraisal and business finance areas of the syllabus. The section A and section B questions can cover any areas of the syllabus.
Candidates are provided with a formula

For full details on the syllabus content, visit the ACCA website

Professional – The Syllabus

This level builds on your knowledge even further – giving you the advanced skills, techniques and ethical approaches you need to succeed as a senior finance professional.There are two modules:

  • Essentials – you need to pass both papers
  • Options – you need to choose and pass a minimum of two of these

Essentials papers:

  • (SBL) Strategic Business Leader
  • (SBR) Strategic Business Reporting

Options – choose two

  • (APM) P5 Advanced Performance Management
  • (ATX) P6 Advanced Taxation
  • (AAA) P7 Advanced Audit and Assurance

(Please note we do not offer courses towards the option paper P4: Advanced Financial Management)

(SBL) Strategic Business Leader (Sept 18 – June 19)

Aim

The current P1 and P3 exams will be removed following the June 2018 exam session and an exciting new exam – Strategic Business Leader (SBL) will be introduced from September 2018.

The new exam will provide you with the real-life skills to make you even more efficient in the workplace. These changes are part of the introduction of Strategic Professional, which will replace the Professional level exams from September 2018.

Students who have completed the P1 and P3 exams will receive a converted pass in the Strategic Business Leader exam – but this pass will only be awarded if you have completed both exams.

On successful completion of this paper, candidates should be able to:

  1. Apply excellent leadership and ethical skills to set the ‘tone from the top’ and promote a positive culture within the organisation, adopting a whole organisation perspective in managing performance and value creation
  2. Evaluate the effectiveness of the governance and agency system of an organisation and recognise the responsibility of the board or other agents towards their stakeholders, including the organisation’s social responsibilities and the reporting implications
  3. Evaluate the strategic position of the organisation against the external environment and the availability of internal resources, to identify feasible strategic options.
  4. Analyse the risk profile of the organisation and of any strategic options identified, within a culture of responsible risk management
  5. Select and apply appropriate information technologies and data analytics, to analyse factors affecting the organisation’s value chain to identify strategic opportunities and implement strategic options within a framework of robust IT security controls
  6. Evaluate management reporting and internal control and audit systems to ensure compliance and the achievement of organisation’s objectives and the safeguarding of organisational assets
  7. Apply high level financial techniques from Skills exams in the planning, implementation and evaluation of strategic options and actions.
  8. Enable success through innovative thinking, applying best in class strategies and disruptive technologies in the management of change; initiating, leading and organising projects, while effectively managing talent and other business resources.
  9. Apply a range of Professional Skills in addressing requirements within the Strategic Leader examination and in preparation for, or to support, current work experience.

Approach to Examining the Syllabus

You’ll demonstrate the right blend of technical, ethical and professional skills in the evaluation, synthesis and presentations of responses through the context of an innovative case study.

For full details on the syllabus content, visit the ACCA website

(SBR) Strategic Business Reporting (Sept 18 – June 19)

Aim

In Strategic Business Reporting, we take the qualification’s current holistic view of reporting into a new dimension. The syllabus will retain the existing technical content of P2 Corporate Reporting. This is significantly enhanced by giving students the skills needed to confidently speak the language of business, and explain reports and the impacts of transactions to a wide variety of stakeholders

On successful completion of this paper candidates should be able to:

  1. Apply fundamental ethical and professional principles to ethical dilemmas and discuss the consequences of unethical behaviour
  2. Evaluate the appropriateness of the financial reporting framework and critically discuss changes in accounting regulation
  3. Apply professional judgment in the reporting of the financial performance of a range of entities
  4. Prepare the financial statements of groups of entities
  5. Interpret and advise on the meaning of financial statements that include non-financial data including segmental, sustainability and integrated reports for different stakeholders
  6. Communicate the impact of changes in accounting regulation on financial reporting.

Approach to Examining the Syllabus

We’ve taken the current qualification view of reporting to new levels. Students will get the skills needed to confidently speak the language of business and explain reports to a wide variety of stakeholders.

Students will be examined on concepts, theories, and principles, and on their ability to question and comment on proposed accounting treatments.

The paper will comprise two sections.

Section A Compulsory question (50 marks )
Section B 2 from 3 questions of 25 marks each (50 marks)

Section A will consist of one scenario based question worth 50 marks. It will deal with the preparation of consolidated financial statements including group statements of cash flows and with issues in financial reporting.
Students will be required to answer two out of three questions in Section B, which will normally comprise two questions which will be scenario or case-study based and one essay question which may have some computational element.

Section B could deal with any aspects of the syllabus. New accounting standards will feature prominently in this section on initial introduction

For full details on the syllabus content, visit the ACCA website

(APM) P5 Advanced performance Management (Sept 17 – June 18)

Aim

To apply relevant knowledge, skills and exercise professional judgement in selecting and applying strategic management accounting techniques in different business contexts and to contribute to the evaluation of the performance of an organisation and its strategic development.

On successful completion of this paper, candidates should be able to:

  1. Use strategic planning and control models to plan and monitor organisational performance
  2. Assess and identify key external influences on organisational performance
  3. Identify and evaluate the design features of effective performance management information and monitoring systems
  4. Apply appropriate strategic performance measurement techniques in evaluating and improving organisational performance
  5. Advise clients and senior management on strategic business performance evaluation and on recognising vulnerability to corporate failure

Approach to Examining the Syllabus

The syllabus is assessed by a three-hour examination available in both computer-based and paper-based formats. * *For paper-based exams there is an extra 15 minutes to reflect the manual effort required.

Section A Section A will contain one compulsory question comprising of 50 marks

Section B In section B candidates will be asked to answer two from three questions comprising of 25 marks each

For full details on the syllabus content, visit the ACCA website

(ATX) P6 Advanced Taxation (UK) (1 April 18 – 31 March 19)

Aim

To apply relevant knowledge and skills and exercise professional judgement in providing relevant information and advice to individuals and businesses on the impact of the major taxes on financial decisions and situations.

On successful completion of this paper candidates should be able to:

  1. Apply further knowledge and understanding of the UK tax system through the study of more advanced topics within the taxes studied previously and the study of stamp taxes
  2. Identify and evaluate the impact of relevant taxes on various situations and courses of action, including the interaction of taxes
  3. Provide advice on minimising and/or deferring tax liabilities by the use of standard tax planning measures
  4. Communicate with clients, HM Revenue and Customs and other professionals in an appropriate manner

Approach to Examining the Syllabus

The paper consists of two sections:

Section A consists of two compulsory questions. Question 1 has 35 marks, including 4 professional marks, and question 2 has 25 marks

Section B consists of three 20-mark questions, two of which must be answered.

Questions will be scenario based and will normally involve consideration of more than one tax, together with some elements of planning and the interaction of taxes. Computations will normally only be required in support of explanations or advice and not in isolation.

The syllabus is assessed by a three-hour examination available in both computer-based and paper-based formats.*
*For paper-based exams there is an extra 15 minutes to reflect the manual effort required.

The examination is a three hour 15 minutes paper.

Tax rates, allowances and information on certain reliefs will be given in the examination paper.

For full details on the syllabus content, visit the ACCA website

(AAA) P7 Advanced Audit and Assurance (Sept 17 – June 18)

Aim

To analyse, evaluate and conclude on the assurance engagement and other audit and assurance issues in the context of best practice and current developments.

On successful completion of this paper candidates should be able to:

  1. Recognise the legal and regulatory environment and its impact on audit and assurance practice
  2. Demonstrate the ability to work effectively on an assurance or other service engagement within a professional and ethical framework
  3. Assess and recommend appropriate quality control policies and procedures in practice management and recognise the auditor’s position in relation to the acceptance and retention of professional appointments
  4. Identify and formulate the work required to meet the objectives of audit assignments and apply the International Standards on Auditing
  5. Identify and formulate the work required to meet the objectives of non-audit assignments
  6. Evaluate findings and the results of work performed and draft suitable reports on assignments
  7. Understand the current issues and developments relating to the provision of audit related and assurance services

Approach to Examining the Syllabus

The syllabus is assessed by a three-hour examination available in both computer-based and paper-based formats.*
*For paper-based exams there is an extra 15 minutes to reflect the manual effort required.

Questions in both sections will be largely discursive. However, candidates will be expected, for example, to be able to assess materiality and calculate relevant ratios where appropriate.

Section A questions will be based on ‘case study’ type questions. That is not to say that they will be particularly long, rather that they will provide a setting within a range of topics, issues and requirements can be addressed. Different types of question will be encountered in Section B and will tend to be more focussed on specific topics, for example ‘auditor’s reports’, ‘quality control’ and topics of ISAs which are not examinable in Paper F8, Audit and Assurance. (This does not preclude these topics from appearing in Section A). Current issues will be examined across a number of questions.

Section A: 2 compulsory questions Question 1 (35 marks) Question 2 (25 marks)
Section B: Choice of 2 from 3 (40 marks) questions- 20 marks each

For full details on the syllabus content, visit the ACCA website

Full Link & Revision Courses

Our face-to-face classroom based tuition courses provide students with the knowledge to help them pass their ACCA exams. We run full link courses comprising of a tuition course in 2 separate phases and a revision course.The tuition element covers the main areas of the syllabus and the revision course culminates with question practice and a full mock exam either taken as a whole mock or a question based day (QBD). Tutors and professional markers are on-site to mark the questions on a QBD and provide immediate feedback and question de-briefs.

Students can attend a full link course or for those who may be re-sitting or have taken a home study course, a revision only course can be attended.

Some courses are integrated – ie all days have to be attended as both tuition and question practice are combined throughout the course duration.

Class sizes are small allowing plenty of opportunities to interact with the course tutor. All tutors are qualified accountants with many years practical and teaching experience and a proven track record.

Students have email access to the subject tutor who will provide remote assistance during periods of home study and leading up to the exam.

The following course materials are provided within the course fee:

  • Study text
  • Revision question bank
  • Revision cards
  • Course notes

Students can attend on a residential or non-residential basis. Self service breakfast and lunch are provided to all students attending our courses at no extra charge.

For details on pass rates, full course brochure and a manual enrolment form, please see ‘downloads’ on right of page

Residential Options

For students who wish to stay overnight, we offer highly competitive rates on a full board basis – providing you with a study-bedroom and all meals on site. You don’t have to spend any time travelling to and from courses and can focus solely on your learning. Our accommodation rates compare very favourably to hotel costs enabling us to maximise the value of your spend on professional development.The rooms come as either a shared room, a single room or our recently refurbished premium en-suite rooms.
The premium rooms come with en-suite as standard and with a range of single, double or king-sized beds. We advise booking early to avoid disappointment as en-suite rooms are limited.Residential fees start from £48/night on a full board basis. Accommodation can be booked when enrolling on the course.View details on our residential facilitiesBook now

CBE Exam Centre

Reed Business School is an ACCA CBE exam centre for F1/FAB/F2/FMA/F3FFA and F4.

If you are wish to book your exam with us, please complete our ACCA enrolment form. If you are not attending one of our courses and you wish to book your ACCA CBE with us, please download our computer based exam (CBE) dates, complete and return a booking form to us. Please note places are subject to availability.

The Business School is not an ACCA CBE centre for any papers above F4. Please refer to the ACCA website for information on booking exams.

CBE dates

CBE booking form

Pass Rates

Reed Business School is Platinum accredited by ACCA, the highest awarding accreditation. Part of our accreditation includes analysis of our student pass rates.

We are the only accountancy tuition provider who openly publishes all exam results, providing a transparent and detailed breakdown of results achieved by students attending our ACCA courses.

See details of our pass rates the the last few exam sittings

Further historic records can be viewed on this page



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