The Association of Chartered Certified Accountants (ACCA)

PAPER

AIMS

F1 -  Accountant in Business (AB)

To develop knowledge and understanding of the business environment and the influence this has on how organisations and accountants operate, and of the role of the accountant and other key business functions in contributing to an efficient, effective and ethical organisation, and to build knowledge and understanding of the basic principles of effective management.

F2 -  Management Accounting (MA)

To develop knowledge and understanding of how to prepare and process basic cost and quantitative information to support management in planning and decision-making in a variety of business contexts.

F3 -  Financial Accounting (FA)

To develop knowledge and understanding of the underlying principles, concepts and regulations relating to financial accounting and technical proficiency in the use of double-entry accounting techniques, including the preparation of basic financial statements.

F4 -  Corporate and Business Law (CL)

To develop knowledge and skills in the understanding of the general legal framework, and of specific legal areas relating to business, recognising the need to seek further specialist legal advice where necessary.

F5 -  Performance Management (PM)

To develop knowledge and skills in the application of management accounting techniques to quantitative and qualitative information for planning, decision-making, performance evaluation and control.

F6 - Taxation (TX)

To develop knowledge and skills relating to the tax system as applicable to individuals, single companies, and groups of companies.

F7 -  Financial Reporting (FR)

To develop knowledge and skills in understanding and applying accounting standards and the theoretical framework in the preparation of financial statements of entities, including groups, and how to analyse and interpret those financial statements.

F8 - Audit and Assurance (AA)

To develop knowledge and skills in the process of carrying out the assurance engagement and its application in the context of the professional regulatory framework.

F9 -  Financial Management (FM)

To develop knowledge and skills expected of a financial manager – relating to issues affecting investment, financing, and dividend policy decisions.

P1 - Professional Accountant (PA)

To apply relevant knowledge, skills, and exercise professional judgement in carrying out the role of the accountant relating to governance, internal control, compliance, and the management of risk within an organisation – in the context of an overall ethical framework.

P2 - Corporate Reporting (CR)

To apply knowledge, skills, and exercise professional judgement in the application and evaluation of financial reporting principles and practices in a range of business contexts and situations.

P3 - Business Analysis (BA)

To apply relevant knowledge, skills, and exercise professional judgement in assessing strategic position, determining strategic choice, and implementing strategic action through business process and structural change, coordinating knowledge systems and information technology, and by managing quality processes, projects, and people.

P4 - Advanced Financial Management (AFM)

To apply relevant knowledge, skills, and exercise professional judgement as expected of a senior financial executive or advisor, in taking or recommending decisions relating to the financial management of an organisation.

P5 - Advanced Performance Management (APM)

To apply relevant knowledge, skills, and exercise professional judgement in selecting and applying strategic management accounting techniques in different business contexts and to contribute to the evaluation of the performance of an organisation and its strategic development.

P6 - Advanced Taxation (AT)

To apply relevant knowledge, skills, and exercise professional judgement in providing relevant information and advice to individuals and businesses on the impact of the major taxes on financial decisions and situations.

P7 -  Advanced Audit and Assurance (AAA)

To apply relevant knowledge, skills, and exercise professional judgement in analysing, evaluating, concluding and reporting on the assurance engagement and other audit and assurance issues in the context of best practice and current developments.