The ACCA Qualification explained

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The ACCA Qualification explained
Matt Holden ACCA Programme Manager Reed Business
School
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Basic changes

• First sitting December 2007
• Still 14 papers to sit
• Each paper can be attempted on its own
• Students will now be required to pass an online
  ethics module

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The exams
Fundamentals Level 9 papers in total
Skills Module F9 Financial Management (FM) F8
Audit and Assurance (AA) F7 Financial Reporting
(FR) F6 Taxation (TX) F5 Performance Management
(PM) F4 Corporate and Business Law
(CL) Knowledge Module F3 Financial Accounting
(FA) F2 Management Accounting (MA) F1 Accountant
in Business (AB)
On completion of first 9 papers students can
embark on their Oxford Brookes Degree
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Fundamentals Level 9 papers in total
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Professional Level 5 papers in total
Options Module (any 2 from 4) P7 Advanced Audit
and Assurance (AAA) P6 Advanced Taxation (ATX) P5
Advanced Performance Management (APM) P4 Advanced
Financial Management (AFM) Essentials Module
(all 3) P3 Business Analysis (BA) P2 Corporate
Reporting (CR) P1 Professional Accountant (PA)
Fundamentals 9 papers in total
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Professional 5 papers in total
Fundamentals 9 papers in total
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Professional 5 papers in total
Route 1
Route 2
Fundamentals 9 papers in total
Relevant accredited accounting degree
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Exam format
Knowledge papers two-hour exams CBEs and paper
based Skills papers three-hour exams (plus 15
mins reading and planning time) paper based
only Professional papers three-hour
exams (plus 15 mins reading and planning
time) paper based only
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• Ethics Module
• A two hour online training module developed
  by the ACCA
• Gives students exposure to real-life ethical
  case studies
• Applicable to students registering from
  January 2007
• Accessible when students are eligible to sit
  P1, P2 and P3 (advised before sitting P1)
• Complete at own convenience but before
  admission to membership

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Exemption policy
No exemptions from the Professional
level Available for all exams in Fundamentals
level for equivalent qualifications Available
for relevant degree holders from ACCA-accredited
institutions
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Progression rules
No requirement to sit and/or pass any exams
together Maximum of four exams within a
six-month period (including CBEs) Modules must
be attempted in order Papers from different
modules may be attempted at same sitting Papers
within a module can be attempted in any order
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Exam conversion arrangements
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Conversion arrangements
No student will undertake additional assessment
in the transition from the current scheme to the
new ACCA Qualification
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Exam conversion arrangements
The current and new syllabus will not run
simultaneously Last session on current scheme
June 2007 First session on new qualification
December 2007 Conversion notices Online exam
conversion tool
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Conversion
Current exams Credit from new exams

Part One 1.1
Preparing Financial Statements F3 Financial
Accounting 1.2 Financial Information for F2
Management Accounting Management 1.3
Managing People F1 Accountant in Business
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Conversion
Current exams Credit from new exams

Part Two 2.1
Information Systems F5 Performance
Management 2.2 Corporate and Business Law F4
Corporate and Business Law 2.3 Business
Taxation F6 Taxation 2.4 Financial Management
and F9 Financial Management Control
2.5 Financial Reporting F7 Financial
Reporting 2.6 Audit and Internal Review F8
Audit and Assurance
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Conversion
Current exams Credit from new exams

Part Three
Options papers 3.1 Audit and Assurance
Services P7 Advanced Audit and
Assurance 3.2 Advanced Taxation P6 Advanced
Taxation 3.3 Performance Management P5
Advanced Performance Management 3.4
Business Information An Option in Business
Management
Information Management
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Conversion
Current exams Credit from new exams

Part Three Core
papers 3.5 Strategic Business Planning P3
Business Analysis and Development 3.6
Advanced Corporate Reporting P2 Corporate
Reporting 3.7 Strategic Financial Management P1
Professional Accountant OR P4 Advanced
Financial Management
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Conversion for Paper 3.7
Students who have passed two Options papers are
credited with P1 Students who have NOT passed
two Options papers can choose from P1 or P4 If
they choose P1 they CANNOT attempt P4 as an
Options paper
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Online exam conversion tool
Enables students to calculate their own
conversion status Supplements formal conversion
notices Access at www.accaglobal.com Link from
Reed Business School website www.reedbusinessschoo
l.co.uk
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Timetable
June Last written exams under Professional
Scheme ______________ __________________________
__________________________________________________
___________ August Current scheme students
converted to new ACCA Qualification
Conversion notices issued Professional Ethics
module available to eligible students ____________
__ _______________________________________________
________________________________________ October
CBEs on new ACCA Qualification available _________
_____ ____________________________________________
___________________________________________ Decem
ber First written exams under new qualification
Deadline for all trainees to convert to new PER
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Changes to core paper rule
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Core paper rule
Papers 3.5, 3.6 and 3.7 had to be taken together
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Core paper rule from December 2007
There is no core paper rule Essentials papers
can be studied, attempted and credited
individually
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Further information?
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Further information
www.accaglobal.com/horizon ACCA Connect e-mail
info_at_accaglobal.com tel [phone]

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Any questions?
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Thank you