Preparatory Course for ACCA

"ACCA Modules ACCA consists of 15 papers, divided into four modules: Knowledge - 3 papers Skills – 6 papers Essentials – 2 papers Options – 2 papers (from a choice of 4) Knowledge Accountant in Business (F1) 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. Management Accounting (F2) 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. Financial Accounting (F3) 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 and include preparation of basic consolidated financial statements and interpretation of financial statements. Skills Corporate and Business Law (Singapore) (F4) 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. Performance Management (F5) 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. Taxation (Singapore) (F6) To develop knowledge and skills relating to the tax system as applicable to individuals, single companies, and groups of companies. Financial Reporting (F7) 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. Audit & Assurance (F8) 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. Financial Management (F9) To develop knowledge and skills expected of a financial manager - relating to issues affecting investment, financing, and dividend policy decisions. Essentials Strategic Business Leader (SBL) 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. Strategic Business Reporting (SBR) To apply fundamental ethical and professional principles to ethical dilemmas and discuss the consequences of unethical behaviour, evaluate the appropriateness of the financial reporting framework and critically discuss changes in accounting regulation, apply professional judgement in the reporting of the financial performance of a range of entities and prepare the financial statements of groups of entities. To interpret and advise on the meaning of financial statements that include non-financial data including segmental, sustainability and integrated reports for different stakeholders and communicate the impact of changes in accounting regulation on financial reporting. Options Choose any 2: Advanced Financial Management (P4) To apply relevant knowledge, skills, and exercise professional judgment as expected of a senior financial executive or advisor, in taking or recommending decisions relating to the financial management of an organisation. Advanced Performance Management (P5) To apply relevant knowledge, skills, and exercise professional judgment 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. Advanced Taxation (P6) To apply relevant knowledge, skills, and exercise professional judgment in providing relevant information and advice to individuals and businesses on the impact of the major taxes on financial decisions and situations. Advanced Audit & Assurance (Singapore) (P7) To apply relevant knowledge, skills, and exercise professional judgment 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. ACCA Examination Regulations All modules must be sat in order Maximum of four papers to be taken in one sitting The three Essentials and two optional papers do not have to be sat together Papers within a module may be sat in any order but ACCA recommends that they should be sat in numerical order Papers from a variety of levels may be sat at any one time. i.e. Knowledge and Skills or Skills and Essentials The three Essentials ACCA papers do not have to be sat together Under the new rules a seven year time limit will be introduced at the Professional level. Therefore, there are no time limits for passing the Foundation level exams as part of Foundations in Accountancy or for taking exams F1-F9 at the Fundamentals level of the ACCA Qualification. From early 2016 students will have 7 years to pass the exams at Professional level (P1, P2 and P3 and two of the options paper P4-P7). The 7 year time limit starts when a student passes their first Professional level exam. The pass mark for all examinations is 50% In addition to the above 14 papers, students are required to study and sit an on-line module in Professional ethics. It is recommended that this is studied at the same time as P1 Practical experience required."