The Applied Skills Level, also known as Level 2, helps students build strong technical and analytical skills needed for real world business and finance situations. It focuses on improving problem solving, decision making, and critical thinking abilities, making it easier to apply accounting and finance concepts in practical scenarios. This level ensures students gain a deeper understanding of financial management, reporting, taxation, and assurance. Completing this stage gives students the confidence and knowledge to handle more advanced accounting challenges in their careers. It also prepares them for professional roles by developing essential skills required in the accounting and finance industry.
Corporate and Business Law focuses on the legal framework governing businesses and financial transactions. It covers key principles of contract law, corporate governance, employment law, and regulations affecting financial reporting and business operations. This subject helps students understand legal responsibilities, rights, and obligations within corporate and professional environments. Additionally, it emphasizes ethical considerations and compliance with international legal standards to ensure responsible business practices.
Performance Management is concerned with applying management accounting techniques to support business decision making. It explores cost control, budgeting, variance analysis, and performance evaluation to enhance efficiency and profitability. This subject emphasizes the use of financial and non-financial data in measuring and improving business performance. Additionally, it introduces students to strategic planning, risk management, and modern performance measurement tools to help businesses achieve their objectives.
Taxation provides students with knowledge of tax systems, regulations, and their application in financial decision-making. It covers personal and corporate taxation, tax planning strategies, and compliance with tax laws. This subject emphasizes the importance of understanding tax obligations, minimizing tax liabilities legally, and ensuring adherence to regulatory requirements. Additionally, it introduces students to key tax principles and calculations, preparing them to advise individuals and businesses on effective tax management.
Financial Reporting focuses on the preparation and analysis of financial statements in accordance with international accounting standards. It examines accounting principles, asset and liability measurement, and the recognition of income and expenses. This subject emphasizes accuracy, consistency, and transparency in financial reporting to ensure compliance with regulations. It helps students develop skills in interpreting financial statements, analyzing financial performance, and making informed business decisions.
Audit and Assurance is concerned with the principles and processes of auditing financial statements to ensure accuracy and reliability. It covers the roles and responsibilities of auditors, risk assessment, internal controls, and ethical considerations in auditing. This subject emphasizes the importance of professional skepticism, compliance with international auditing standards, and maintaining public trust in financial reporting.
Financial Management focuses on the key financial decisions businesses make to maximize value and ensure financial stability. It covers investment appraisal, capital structure, risk management, and working capital management. This subject emphasizes financial planning, cost control, and the evaluation of financial risks to support business growth and sustainability. It introduces students to techniques for analyzing financial data, managing cash flows, and making strategic financial decisions in a competitive business environment.
Exam Format: Computer-based exams can be taken either remotely or through ACCA-approved exam centres.
Exam Duration: 3 hours for each paper (Corporate & Business Law : 2 hours)
Passing Criteria: A minimum score of 50% to pass each paper.
Exam Session: The Applied Skills exams for ACCA take place four times a year in March, June, September, and December.
To start studying the Applied Skills Level, students must meet one of the following eligibility criteria:
Completion of Applied Knowledge Level
Exemptions based on qualifications
To check exemptions or verify eligibility, students can use the ACCA Exemptions Calculator.
FIA Route (Foundations in Accountancy)
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Bright Academy stands out among ACCA colleges in Nepal for delivering high quality ACCA education and personalized student support from faculty members who are ACCA world rank holders. We prioritize your success. Our commitment is reflected in our structured learning environment, student-centric approach, and resources designed to help you achieve the highest numbers in your ACCA exams. At Bright Academy, we ensure that our teaching and management approach meet the highest standard. We are committed to employ advanced teaching methods and resources to ensure student success. With a team of our professional faculty members, drawn from various industries, we continuously work towards providing our students the best learning experience and equipping them with all the abilities and skills that will help them succeed in their career as an ACCA .