“WONDERING HOW TO SIMPLIFY YOUR ACCA JOURNEY?”
As the popularity of the ACCA course in the UK grows, more and more aspirants are curious to learn about the expected ACCA journey. They look forward to understanding the requirements of the qualification so that they can plan their journey accordingly. However, ACCA is a well-structured, comprehensive journey with a couple of requirements, but for a greater and better understanding, this qualification has been divided into three ACCA levels. These three academic levels consist of thirteen ACCA exams in total; with each passing level, the complexity of exams tends to increase.
Students who want to achieve success in these challenging accounting papers must plan their journey; therefore, students in the UK need to understand each level and the exams it consists of. This blog will be quite helpful for those who have no idea about ACCA levels and want to explore & understand all the essential details before stepping into it.
ACCA REQUIREMENTS
The ACCA course or qualification is very much focused on strengthening the skill set of aspirants so that they know how to integrate knowledge into practical world issues. Hence, alongside vast theoretical knowledge, it also focuses on developing skills (theoretical, analytical, professional, and ethical). These skills and wide knowledge offer ACCA qualified professionals a promising, success-driven future in the competitive finance world. Students of ACCA have to fulfill academic requirements beyond clearing exams. Below are the essential academic qualifications that must be fulfilled to become an ACCA member:
- Achieve success in all thirteen ACCA modules.
- Complete the PER requirement by gaining 36 months of relevant work experience and record it.
- Complete the Ethical, Professional, & Skills Modules (EPSM).
- After becoming a member, complete the annual requirement of CPD.
ACCA LEVELS
The qualification of ACCA is divided into three levels known as Applied Knowledge, Applied Skills, and Strategic Professional; different numbers of ACCA modules are allocated in each academic level. Every level is equally important, and students must complete all the levels; however, you might observe an increase in complexity with each passing level. Here is a brief about each academic level of ACCA in the UK:
1: APPLIED KNOWLEDGE
The initial level consists of three modules; it primarily focuses on providing a clear understanding of the accounting concepts and essential principles. One must clear these exams before moving to the levels ahead so that they can understand the advanced modules based on these fundamental concepts.
2: APPLIED SKILLS
It is the second level, which can also be called an intermediary level; it consists of six modules from diverse accounting & finance areas. The main focus of these modules relies on developing skills relevant to the specific area of study, along with a wealth of knowledge. To achieve success in these modules, students must stay consistent with practice and revisions.
3: STRATEGIC PROFESSIONAL
The last and advanced level of the qualification consists of four exams in total, two of which are optionals (students can select preferred modules). To begin with this level, it is mandated to complete the previous ACCA levels; the modules in the strategic professional level are quite comprehensive and examine your strategic skills.
ACCA LEVELS & MODULES
Here is a well-structured table showcasing the modules that each level consists of:
| APPLIED KNOWLEDGE
(fundamental level) |
APPLIED SKILLS
(Intermediatory level) |
STRATEGIC PROFESSIONAL
(Advanced level) |
| Financial Accounting | Financial Management | Strategic Business Reporting |
| Management Accounting | Performance Management | Strategic Business Leadership |
| Business & Technology | Financial Reporting | SELECTIVES: (ANY 2) |
| Taxation | Advanced Taxation | |
| Audit & Assurance | Advanced Audit & Assurance | |
| Corporate & Business Law | Advanced Performance Management | |
| Advanced Financial Management |
CONCLUSION
The academic levels in the ACCA course make it quite easy for students to understand the qualification structure more clearly. The modules in these academic levels ensure you are well-prepared to step into the competitive financial world and support a progressive career.
FREQUENTLY ASKED QUESTIONS (FAQs)
Q1: Should students follow the exam sequence provided by ACCA Global?
Ans: It is not mandatory to follow the provided sequence; students can take exams as per their preferences. However, it is suggested that students follow the sequence to ensure a smooth academic journey.
Q2: On which basis should I choose my optional ACCA exams?
Ans: Things you must consider before selecting your optional modules of ACCA are the area of your interest and the module’s alignment with your career goals. Think of these modules as your specialization and choose them wisely so that the knowledge you learn can add value to your career prospects.
Q3: What if I fail the ACCA exam? How many attempts can I take?
Ans: If you fail an ACCA exam, you can always reattempt it; there is no limitation on attempts, you can take as many as needed to clear the exam successfully.
