What are the 13 Papers of ACCA?

Last Updated On -24 Jan 2025

The ACCA or the Association of Chartered Certified Accountants is seeing a rise in the world of finance due to its demand getting a global reach, and the rise in payrolls advancing each day. For any aspiring finance or accountancy professional, the ACCA certification course opens the door to opportunities.

The following blog will give a detailed breakdown of the acca levels and papers.

What are the ACCA Levels?

The ACCA comprises different levels which help the students in developing their skills, and knowledge gradually. These levels make sure that each student in accountancy has developed a strong foundation, has a good grasp on all the basics, and is learning at the required pace.

The three different levels of ACCA are given below:

1. Applied knowledge level

This is the entry level in the ACCA Course where the students are taught about basics of accountancy or finance. This level is suitable for beginners and teaches financial management and reporting.

2. Applied skills level

This level enhances the basic skills further and teaches essential skills needed for a career prospect. It covers all the technical and practical parts and focuses on law, taxation, performance management, and financial reporting.

3. Strategic professional level

This is the final level, where the students are taught about developing advanced skills in technicalities, strategic thinking, and leadership. Focuses mostly on advisory roles, and compulsory, and optional; subjects to allow variety and specialization.

The 13 papers of ACCA

There is a requirement to clear all 13 papers of ACCA in order to gain the certification, divided into the ACCA levels; 3 Papers in the Applied knowledge level, 6 papers in the Applied skills level, and 4 papers in the Strategic Professional level.

Let us dive into these 13 Papers of ACCA and learn more:

Applied knowledge level

The foundation stage consists of 3 Papers focusing on the basics of accountancy and finance.

The following are the first 3 papers of ACCA:

1. BT - Business and Technology:

It is about understanding the importance of business in society, corporate, and how technology plays in business activities. It provides an in-depth knowledge of the workings of the business world.

2. MA - Management Accounting:

It is about learning to manage the costs of businesses, budgeting, and performance evaluation. This ensures that the financial decisions made are well-informed.

3. FA - Financial Accounting:

This paper covers the preparations and understanding of financial statements and key accounting concepts. It also provides a proper foundation for advanced topics later on.

Applied skills level

The 6 papers under it give a practical understanding and key financial skills for real-world practice.

Let us look at the next 6 papers of ACCA:

4. LW - Corporate and Business Law:

Students get to learn about governing businesses, contracts, and corporations, which helps them understand the laws behind running a business.

5. PM - Performance Management:

This course covers all the cost management, and decision-making, and evaluates performances. It gives the sense of understanding the business performance.

6. TX - Taxation

This subject is about learning tax systems, which include income tax, corporate tax, and VAT. tells about how the tax system impacts businesses.

7. FR - Financial Reporting

This teaches how to produce financial statements, under the International Financial Reporting Standards or IFRS.

8. AA - Audit and Assurance

Covers all the auditing principles, and internal control systems and prepares for audit and compliance roles.

9. FM - Financial Management

Teaches about financial planning, risk management, and investment appraisal. It is important to understand finance roles and terms.

Strategic professional level

There are 4 papers in the final and advanced level, gaining expertise in your chosen area of interest. There are 2 compulsory papers and 4 optional papers out of which you can choose 2.

The 4 final papers of ACCA are the following:

( compulsory papers )

11. SBL - Strategic Business Leader:

Develops leadership skills and strategic decision-making, preparing for senior-level roles.

12. SBR - Strategic Business Reporting:

Teaches advanced financial and corporate reporting and IFRS application preparing for complex situations.

( optional papers, choose any 2 )

13. AFM - Advanced Financial Management:

Teaches about mergers and acquisitions and important strategies, suitable for corporate roles.

14. APM - Advanced Performance Management:

Covers all the regulations of performance improvements and is suitable for consulting roles.

15. ATX - Advanced Taxation:

Detailed study of tax laws and planning in relation to business preparing for a career in the tax department.

16. AAA - Advanced Audit and Assurance:

Advanced techniques in auditing and ethics, preparing for senior roles.

Key Features of the ACCA Levels

There are certain key features and points to remember about the ACCA levels that help the students understand the eligibility and progression of the levels.

The key features of the ACCA levels are:

Eligibility: Students who do not have any prior knowledge or qualifications, start at the Applied Knowledge Level.

Duration: It takes 2-3 years to complete all the specified levels, depending on the attempts at exams.

Progression: Each of the levels progresses building on the previous one, ensuring there is understanding and no misconception among the students.

What are the Exemptions in the ACCA Papers?

There are certain exemptions in the number of exams of ACCA papers that help students understand the eligibility criteria and excel in their respective careers faster and better.

The ACCA certifications exam paper exemptions are explained in the following table:

DEGREE	EXEMPTIONS	SUBJECT EXEMPTED
BBA	3 Exemptions	(BT, MA, FA)
Bcom Degree	5 Exemptions	(BT, MA, FA, LAW, TX)
BCom (Calicut University)	5 Exemptions	(BT, MA, FA, LAW, TX)
BCom (Kannur University)	5 Exemptions	(BT, MA, FA, LAW, TX)
BCom (Kerala University) - Computer Application - in Conj with Fathima Matha National College, autonomous - from 2021 passouts	6 Exemptions	(BT, MA, FA, LAW, TX, PM)
BCom (Kerala University) cooperation - in Conj with Fathima Matha National College, autonomous from 2021 passouts	6 Exemptions	(BT, MA, FA, LAW, TX, PM)
CA Intermediate without Graduation	5 Exemptions	(BT, MA, FA, TX, AA)
CA Intermediate + Graduation	6 Exemptions	(BT, MA, FA, LAW, TX, AA)
Qualified CA	9 Exemptions	(BT, MA, FA, LW, PM, TX, FR, AA, FM)

Frequently Asked Questions (FAQs)

Is skipping a few papers in ACCA exam levels an option for me if I already have a degree in Finance?

Yes, ACCA offers exemptions based on prior qualifications, let us say you have a degree in finance, then you can skip Applied knowledge or Skills Level papers.