Getting qualified with the Association of Chartered Certified Accountants (ACCA) is a great way to advance your career in accountancy and finance. Once you complete the ACCA qualification you will become a certified chartered accountant.
The ACCA qualification is split across three levels that you must complete in order to become fully qualified. If you have the relevant qualifications you may be eligible for exemptions from some ACCA subjects, bypassing the Applied Knowledge level. If you’re new to accountancy, don't worry, you can start with the ACCA Foundations level to understand the fundamentals of accountancy.
ACCA levels
- Foundations
- Applied Knowledge
- Applied Skills
- Strategic Professional
Understanding the progression from Foundations to Strategic Professional
AAT exemptions
Once you have completed your AAT Professional Diploma (Level 4) qualification you can go on to study ACCA and become a chartered accountant, this will also enable you to apply for some exam exemptions. If you are already AAT qualified, you will be eligible to be exempt from the first three ACCA subjects, Business and Technology (BT - previously known as F1), Management Accounting (MA - previously F2) and Financial Accounting (FA - previously F3) meaning you can start at the Applied Skills level. Check out our video Moving from AAT to ACCA for more advice.
Foundations
ACCA Foundations is a perfect place to start if you are new to the world of accounting or you are already working in finance but have no formal qualifications. This level offers a range of certificates and diplomas. If you have no prior knowledge or experience of ACCA or accounting the recommended starting point is Level 2, however, there are no minimum entry requirements. You will need to complete the subject called Foundations in Professionalism (FIP) before you can be awarded any of the Foundation-level certificates and diplomas. The Foundations in Professionalism course is online and can be completed at your own pace.
Applied Knowledge
Applied Knowledge is composed of three mandatory subjects, Business and Technology (BT), Management Accounting (MA) and Financial Accounting (FA). The good news for you is there is no specific order in which the assessments need to be completed, meaning you have more control over the order in which you complete this level.
Assessments at this level are taken as two-hour computer-based exams. On average this stage of ACCA takes 6-12 months to complete. Once all three subjects are completed with a pass mark of 50% and above, you can move on to Applied Skills. Kaplan Publishing’s Essential Packs are available for each of these subjects and will be able to guide you with ease through the varying stages of your learning journey.
Applied Skills
Applied Skills, follows on from ACCA Applied Knowledge. This level consists of six mandatory subjects which are examined individually. Performance Management (PM), Taxation (TX-UK), Financial Reporting (FR), Audit and Assurance (AA), Financial Management (FM), Corporate and Business Law (LW ENG / GLO). Once you have successfully completed all six subjects, you will be awarded an Advanced Diploma in Accounting and Business, gaining the knowledge of a bachelor's degree.
Kaplan Publishing’s ACCA material will provide a wealth of content to help you pass your exams. The materials provide checks and tests to help you with your study. Knowledge checks, consolidation and progress tests, mocks and pre-exam workshops will benefit your ACCA journey as you prepare your exam technique in the Applied Skills stage.
Most learners typically take 12-18 months to complete all six subjects in Applied Skills. On your ACCA journey, at this stage successfully achieving 50% in each exam needed will enable you to progress onto the final level, Strategic Professional to become ACCA qualified.
Hays UK Salary and Recruiting Trends 2022 has stated, “While you're part-qualified, you'll typically work as an associate or an accounts clerk, earning around £25,000.”
Strategic Professional
Strategic Professional is the final level you will study on your pathway to becoming ACCA-qualified. This level of the course consists of two mandatory subjects and two optional subjects. Both Strategic Business Leader (SBL) and Strategic Business Reporting (SBR) are subjects which are compulsory. You can then choose another two subjects to study, Advanced Financial Management (AFM), Advanced Performance Management (APM), Advanced Taxation (ATX-UK), and Advanced Audit and Assurance (AAA).
By this stage in ACCA qualification, learners will need to recall previously gained knowledge from the earlier levels. We would advise that if you have taken a break from your studies to use materials and ACCA guidance in the beginning of each subject and throughout your studies to refresh your understanding.
Most learners on average at this stage of ACCA take 12 - 14 months to complete all four assessments required. You can sit up to four exams each session and can only sit a total of eight distinct exams per calendar year.
Preparing for your exam using Kaplan materials
You can purchase all your ACCA study materials from Kaplan Publishing. As an ACCA Content Partner, you will have support through all stages of your ACCA journey when using Kaplan’s printed and enhanced online materials which are all included with the Essentials Pack.
Kaplan’s Essentials Pack is a bundle purchase for each ACCA subject that provides you with everything you need to have a full understanding of the subject you’re studying.
Included in the bundle is a Study Text which provides full coverage of the latest syllabus. You will develop a full understanding of your chosen subject directly from subject experts with over 20+ years of ACCA tutoring experience.
Alongside the Study Text, you will receive an Exam Kit which enhances the Study Text and tests your knowledge of the subject. Finally, you will receive Pocket Notes which support you with on-the-go accessible learning. All Essentials Packs come with complementary online resources, some of which include ebooks powered by BibliU, that you can annotate, highlight, and search on the go.
Testing available when you purchase ACCA materials
Throughout your ACCA journey, testing is available to you to keep you prepared for your exam. As you progress through your journey, you will undertake a number of tests that are designed to refresh your core subject knowledge. You will sit a knowledge check, which are short online tests to assess your understanding of each topic area, this will be accompanied by answer debriefs, where Kaplan tutors offer video walkthroughs to tackle difficult questions from the Exam Kit.
Throughout your studies, you will be working on study planners which help you prioritise your learning and stay on track, whilst progress tests will ensure you retain information and prepare effectively for exams. In the lead up to your exam you will sit mock exams which are designed to simulate real exam conditions and provide tailored feedback on your assessment.
When preparing for your mocks and exams you will be working on revision planners which keep you organised before your exam. Additionally you will be provided with recap videos that explain clearly and logically the contents of your subject material to ensure you truly understand the course content. Through your journey you will use step-by-step video walkthroughs that offer insights to your learning, relating ideal exam answers and understanding how they are marked.
Remember, the main focus of your exam is to read the question and plan your answer, select the answers you will be completing to allow you to plan your time well. Finally, don’t get stuck on one question.
Explore more
Kaplan is a leading provider of ACCA content in the UK. If you wish to explore more of our ACCA materials please look at our core essential materials that can be purchased for your ACCA journey.