The Structure And Requirements Of The ACCA Qualification

The Association of Chartered Certified Accountants (ACCA) is a renowned global professional body offering a prestigious accounting qualification for aspiring financial professionals. The ACCA UAE comprises a series of rigorous examinations, practical experience requirements, and ethics assessments designed to equip students with the necessary skills to excel in various aspects of accounting, auditing, and finance.

Fundamentals level – Knowledge and skills modules:

The first level of the ACCA qualification consists of two modules: Knowledge and skills. Students must complete all nine papers divided between these two modules before progressing to the Professional Level.

Knowledge module: Consists of three subjects focusing on introductory accounting, law, and business management principles.

  • F1 – Accountant in Business
  • F2 – Management Accounting
  • F3 – Financial Accounting

Skills module: Includes six subjects covering intermediate accounting, taxation, audit, financial management, and performance management.

  • F4 – Corporate and Business Law
  • F5 – Performance Management
  • F6 – Taxation
  • F7 – Financial Reporting
  • F8 – Audit and Assurance
  • F9 – Financial Management

Professional level – Essentials and options modules:

Following successful completion of the Fundamentals Level, students proceed to the Professional Level, comprising two modules: Essentials and Options. Both modules consist of four subjects each, totaling eight papers.

Essentials module: Contains two compulsory subjects aimed at honing strategic thinking, problem-solving, and analytical abilities.

  • P1 – Strategic Business Leader
  • P2 – Strategic Business Reporting

Options modules: Allows students to choose two out of four elective subjects aligned with their career goals and interests.

  • P3 – Business Analysis
  • P4 – Advanced Financial Management
  • P5 – Advanced Performance Management
  • P6 – Advanced Taxation

Ethics and professional skills module:

Throughout the entire ACCA qualification process, students are required to complete the Ethics and Professional Skills module, which covers ethical considerations, communication skills, and commercial awareness. This mandatory component helps develop well-rounded professionals prepared to face real-life scenarios in the workplace.

Practical experience requirement (PER):

To become fully qualified ACCA members, students must fulfill the Practical Experience Requirement (PER). PER entails gaining hands-on experience under the supervision of a qualified ACCA member or suitable mentor. Over a minimum period of three years, students need to accumulate 36 months of relevant work experience spanning various designated responsibilities within five core areas:

  • Regulation
  • Leadership
  • Communication and Relationship Building
  • Application of Technical Skills
  • Strategy and Innovation

Upon completing the above components satisfactorily, students can apply for membership with the ACCA and use the esteemed “FCCA” designation after their names, signifying their status as chartered certified accountants.