New ACCA Syllabus
New ACCA Syllabus
Major Changes
• Pass 14 exams
• Complete the on-line Professional Ethics Module
• Have 3 years relevant practical experience and complete your PER record
o Knowledge
All papers 2 hour duration
Can be sat as CBE or paper based examination
o Skills
All papers 3 hours duration
Paper based examination
o Essentials
All papers 3 hours duration
Paper based examination
o Options
Choice of 2 papers from 4
All papers 3 hours duration
Paper based examination
The Essentials (core) papers are now taken before attempting the options papers.
The whole of the Professional level is set at Masters Degree level, and focuses on an
advisory or consultancy role.
• Modules must be taken in order: Knowledge, Skills, Essentials, and then Options.
• Within each module the individual papers can be taken in any order.
Note: For students sitting Options in June 2007 there is an exception to the progression rule
– you may complete your Option papers before / with your Essentials papers under the new
syllabus.
Skills Module
F9 Financial Management (FM)
F6 Taxation (TX)
Knowledge Module
F3 Financial Accounting (FA)
Notes:
Depending on exemption eligibility, all or some of the Fundamentals Level will need to be
completed before progression to the Professional Level
For certain ACCA accredited degrees, full exemption from the Fundamentals Level is
granted.
3.1 Audit and Assurance Services P7 Advanced Audit and Assurance (AAA)
In August 2007 ACCA will automatically convert existing exam results into the new paper
equivalents and ACCA will then notify you of the papers under the new syllabus that you will
be required to complete.
For the vast majority of papers there is a direct translation between the new and current
syllabus.
ACCA has a web based conversion tool which can be found at www.accaglobal.com/horizon.
This will help you find out what your own individual situation is.
Passing 3.4 will provide the student with a general ‘Options’ credit – this will not relate to any
specific options paper under the new syllabus. The student’s exam record will state that they
have passed the option paper – Business Information Management.
If you select paper P1, then you will be unable to attempt P4 as your remaining Option paper.
Note: Should you not pass paper 3.7 in June 2007, you will be required to sit the replacement
P1 paper under the new syllabus, and not the similar P4 paper.
From December 2007, there is no requirement for you to sit all of the new core papers, the
Essentials, together.
Under the new syllabus there will also be no requirement for you to pass all three ‘Essential’
papers before attempting the ‘Options’ paper; but the modules must be sat in the correct
order. It is therefore possible to sit any remaining papers in the ‘Essentials’ module at the
same time as papers in the ‘Options’ module.
The core paper rule under the existing syllabus has been amended for the transitional period
December 2006 and June 2007.
You will be awarded a permanent pass in any paper where a mark of 50% or over is achieved.
If you receive a mark of less than 50%, then that paper only is failed.
During the transition phase you must attempt all outstanding core papers at the same exam
session.
Part 1
Complete all outstanding papers, either paper based or CBE (Computer Based Examination)
Part 2
The key decision here is with regard to paper 2.1 as it does not have an equivalent paper in
the new syllabus. There are the following options available:
1. Complete the paper, as it is a less technically demanding paper than the new paper F5
Performance Management (PM). This will then provide you with a pass against this
new paper P5. Knowledge from 2.1 will also be of use to you once you come to take
paper P3 Business Analysis (BA).
2. If you are looking to take paper P5, Advanced Performance Management (APM) at the
‘Options’ stage then as paper F5 Performance Management is a direct link,
consideration should be given to deferring taking paper 2.1 (this will mean entering the
exam, paying the exam fee but not taking the exam). You could then physically sit
papers 2.2 & 2.3, which have direct equivalents.
If you do decide to take paper 2.1, then ensure the focus of your studies is focussed and
weighted accordingly, as there is no equivalent paper to retake in December 2007.
Part 3 - Options
Paper 3.4 is the only paper that does not have a replacement paper in the new syllabus. As
such the following options are available:
1. Complete the paper, as a considerable amount of its content will be used within Paper
P3 Business Analysis (BA)
2. Do not take 3.4 at the June 2007 exam sitting, and take two of the three remaining
option papers (3.1, 3.2 and 3.3) as all of these papers have direct equivalents under
the new syllabus.
Part 3 – Core
On a change of syllabus it is always advisable to finish studies under the existing syllabus. In
view of the changes to the equivalent 3.7 paper under the new syllabus, a greater emphasis
should be placed on ensuring studies are focussed and weighted towards exam success in
this paper.
You are granted access to the Ethics module as soon as you are eligible to take P1
Professional Accountant.
Whilst this module can be taken at your convenience, ACCA recommend that you complete
the Ethics module whilst studying P1 Professional Accountant.
The Practical Experience Requirements (PER) should ensure ACCA Members have the
essential practical skills required by employers.
Key features:
• Fundamentals level
• On-line Professional Ethics module
You should check your eligibility for the Degree programme with ACCA.
Speak to a member of the ACCA team at your local FTC centre – look on www.ftckaplan.com
for local contact details.