Are you considering pursuing the ACCA (Association of Chartered Certified Accountants) qualification in Nepal? If so, you’re on the right track to gaining one of the most recognized qualifications in accounting and finance with Bright Academy in Nepal.
In this blog, we’ll break down the ACCA subject names, papers, and the exam pattern in a simple, easy-to-understand way to help you get started. Let’s dive in!
Table of content
ACCA Subject Names, Papers & Exam Pattern Explained Simply
What is ACCA?
ACCA Levels & Papers Overview
1. Applied Knowledge Level (3 Papers)
2. Applied Skills Level (6 Papers)
3. Strategic Professional Level (4 Papers)
ACCA Exam Pattern
Future Changes to the ACCA Exam Structure
Conclusion
FAQs
What is ACCA?
The ACCA is a globally recognized accomplishment for accounting and finance experts. This course is specially designed to furnish you with essential knowledge and skills required while working in accounting and finance industries. ACCA is a three leveled structured course, each level builds your professional expertise in accounting, business management and leadership.
ACCA Levels & Papers Overview
The ACCA course consists of 13 core papers divided into three levels. You will also need to complete an ethics module. We’ll discuss about the papers of ACCA course at each level :
1. Applied Knowledge Level (3 Papers)
At Applied Knowledge level, you’ll be learning the fundamentals of accounting and business. The papers mainly focused on business, management accounting, and financial accounting. The exams are 2-hour computer-based tests with multiple-choice questions.
Papers at Applied Knowledge Level:
- Business Technology (BT) : Business Technology covers the importance of business in society, technology’s role in business systems.
- Management Accounting (MA) : This MA paper mainly focuses on cost accounting, budgeting and performance evaluation for informed financial decision making.
- Financial Accounting (FA) : It prepares you for handling financial statements and fundamental accounting principles.
2. Applied Skills Level (6 Papers)
The Applied Skills level builds on your technical skills in accounting and business management. This level consists of six papers, which require more in-depth knowledge than the previous level. These exams are typically 3-hour computer-based tests but there is an exception for Corporate and Business Law, which is 2 hours, covering different areas such as financial reporting and taxation.
Papers at Applied Skills Level:
- Corporate and Business Law (LW) : Corporate and Business Law paper of applied skills level mainly focuses on business law frameworks.
- Performance Management (PM) : Performance Management applies management accounting for planning and evaluation.
- Taxation (TX) : Taxation mainly concerns tax principles and calculations.
- Financial Management (FM) : Financial management covers financial decision making and implementation.
- Audit and Assurance (AA) : Audit and Assurance focuses on audit frameworks and processes.
- Financial Reporting (FR) : Financial reporting deals with preparing financial statements.
3. Strategic Professional Level (4 Papers)
Strategic Professional Level is the highest level of the ACCA qualification, focused on strategic thinking and leadership in business. You will choose from a mix of mandatory and optional papers at this stage. The exams are case-study based, challenging you to demonstrate your strategic and leadership skills.
Papers at Strategic Professional Level:
- Strategic Business Leadership (SBL) : Strategic Business Leadership is a mandatory paper in Strategic Professional Level that focuses on leadership, ethics, governance, and strategic decision making for your business.
- Strategic Business Reporting (SBR) : Strategic Business Reporting is also a mandatory paper for this level that focuses on testing the ability to apply accounting standards and interpret financial information.
- Optional Papers :
- Advanced Performance Management (APM) : Advanced Performance gManagement paper focuses on performance measurement and control as well as strategic planning.
- Advanced Taxation (ATX) : Advanced Taxation explores how to plan complex tax and its various entities.
- Advanced Audit and Assurance (AAA) : Advanced audit and assurance paper specialized on strategic audit planning, assurance services and quality control.
ACCA Exam Pattern
The exam pattern for ACCA papers is designed to assess both theoretical knowledge and practical skills. Here’s what you need to know:
- Applied Knowledge Exams: These exams are computer-based exams lasting 2-hour. They typically consist of multiple-choice questions which test your basic knowledge of accounting and business concepts.
- Applied Skills Exams: These are 3-hour computer-based exams that may consist of multiple-choice questions, short-answer questions, and long-form case studies. Corporate and Business Law (LW) is a 2-hour exam with a similar structure.
- Strategic Professional Exams: These exams focus on case studies, where you will need to apply your knowledge to real-world business situations. The exams typically last 3 to 3.5 hours.
Key Exam Rules:
- A pass mark of 50% is required for all papers.
- There’s no limit on the number of attempts you can take for each paper.
- The Applied Knowledge exams are available on-demand, while Applied Skills and Strategic Professional exams are offered four times a year.
- Papers are typically taken in order of level, starting from Applied Knowledge to Strategic Professional.
- Exemptions may be available for certain papers based on your prior qualifications.
Future Changes to the ACCA Exam Structure
In September 2027, ACCA plans to reduce the total number of exams to 11. This change aims to shorten the qualification time and make the process more streamlined. Among the changes:
- The Business and Technology paper will be removed.
- Corporate and Business Law will be moved to the Knowledge level, resulting in only 5 papers at the Skills level.
Conclusion
The ACCA qualification provides a clear and structured pathway for aspiring accountants and finance professionals. With 13 core papers spread across three progressive levels, the qualification builds your technical, managerial, and strategic expertise. Understanding the subject names, papers, and exam pattern is essential for preparing effectively and achieving success. As the qualification continues to evolve, ACCA offers exciting opportunities for professionals in the accounting and finance field.
By completing the ACCA qualification, you will gain globally recognized expertise that will open doors to a successful career in accounting, finance, business management, and leadership. If you’re planning to pursue ACCA in Nepal, the structure and exam patterns discussed here will help you prepare better for each stage of your journey.
FAQs
1. What are the main levels of ACCA?
The ACCA qualification consists of three levels: Applied Knowledge, Applied Skills, and Strategic Professional. Each level focuses on different aspects of accounting, from foundational concepts to advanced strategic leadership.
2. How long does it take to complete the ACCA qualification?
On average, it takes about 3-4 years to complete the ACCA qualification. However, the duration can vary based on your prior qualifications, exemptions, and the pace at which you complete the exams.
3. What is the pass percentage for ACCA exams?
The required pass mark for each ACCA exam is 50%. This means you need to score at least 50% to pass each paper.
4. Can I take the ACCA exams multiple times?
Yes, there is no limit on the number of attempts you can take for each ACCA exam. You can retake an exam as many times as needed until you pass.
5. What is the ACCA exam format like?
ACCA exams are a combination of multiple-choice questions, short-answer questions, and case studies. The format varies depending on the level and paper, with Strategic Professional exams being case-study based.