Corporate and Business Law (LW)

This area focuses on foundational concepts of risk management and how risk management can add value to an organization. The broad knowledge points covered in Foundations of Risk Management include the following:

Topics covered

Basic risk types, measurement, and management tools

Creating value with risk management

Risk governance and corporate governance

Credit risk transfer mechanisms

The Capital Asset Pricing Model (CAPM)

Risk-adjusted performance measurement

Multifactor models

Data aggregation and risk reporting

Financial disasters and risk management failures

Ethics and the GARP Code of Conduct

Enterprise risk management (ERM)

Performance Management (PM)

This area focuses on basic probability and statistics, regression and time series analysis, and various quantitative techniques useful in risk management. The broad knowledge points covered in Quantitative Analysis include the following:

Topics covered

Discrete and continuous probability distributions

Estimating the parameters of distributions

Population and sample statistics

Bayesian analysis

Statistical inference and hypothesis testing

Measures of correlation

Linear regression with single and multiple regressors

Time series analysis and forecasting

Simulation methods

Machine learning

Taxation (TX)

This area focuses on financial products and the markets in which they trade, more specifically, the following knowledge areas:

Topics covered

Structures and functions of financial institutions

Structure and mechanics of over-the-counter (OTC) and exchange markets

Structure, mechanics, and valuation of forwards, futures, swaps, and options

Hedging with derivatives

Interest rates and measures of interest rate sensitivity

Foreign exchange risk

Corporate bonds

Mortgage-backed securities

Financial Reporting (FR)

This area focuses on valuation techniques and risk models. The broad knowledge points covered in Valuation and Risk Models include the following:

Topics covered

Value-at-Risk (VaR)

Expected shortfall (ES)

Estimating volatility and correlation

Economic and regulatory capital

Stress testing and scenario analysis

Option valuation

Fixed-income valuation

Hedging

Country and sovereign risk models and management

External and internal credit ratings

Expected and unexpected losses

Operational risk

Financial Management (FM)

ACCA paper on Financial Management focuses on an organisation's management techniques of finances. From sourcing capital to generating profits to the company's valuation, financial management helps you learn a business's whole financial life cycle. In ACCA subjects, a Financial Management paper is short-coded as FM.

Topics covered

Concepts of financial management

Valuation of businesses, parameters

Management of the company's finances and capital

Managing the working capital of a business

Financial risk analysis for businesses

The financial life cycle of a business

Audit And Assurance (AA)

ACCA paper of Assurance and Audit covers the most essential area of chartered accountancy: audit. You learn about the audit process, requirements, guidelines, and how an audit has to be performed for any business. In ACCA subjects, Audit and Assurance paper is short-coded as AA.

Topics covered

Principles of Audit, Processes of doing an audit

Regulations wrt auditing

Areas for auditing, parameters to audit

Management of business risk, identifying risks thru audit

Quality assurance for a business, processes

How to perform audits, how to prepare audit reports

Strategic Business Leader (SBL)

ACCA paper on Strategic Business Leader is more of a management skill subject to build governance in organisational management. It includes risk assessment, ethical framework, professional judgement and values, etc.In ACCA subjects, the Strategic Business Leader paper is short-coded as SBL.

Topics covered

Efficient management of an organisation

Role and function of governance in the management

Ethical framework for professional values and decision making

Business strategies and corporate governance

Developing policies of internal control and audits

Strategic Business Reporting (SBR)

In this ACCA subject, you learn the accountant's role in terms of professionalism and ethics, the financial reporting framework, financial statement preparation, and work on case studies to develop an understanding of more complex financial reporting issues. In ACCA subjects, Strategic Business Reporting paper is short-coded as SBR.

Topics covered

Framework for financial reporting in a business

Corporate Governance with Financial Reporting

Probable financial reporting issues and their implications

Implications of changes in accounting regulations

Current developments in accounting and audit and business impact

Case studies for complex business reporting environments

Advanced Financial Management (AFM)

ACCA paper on Advanced Financial Management aims at making you a senior finance professional with an advanced understanding of financial markets and financial industry structure and combines the elements of business economics with finance. In ACCA subjects, the Advanced Financial Management paper is short-coded as AFM.

Topics covered

Investments for a business, structure of the financial industry

Introduction to Investment banking, Acquisitions and mergers

Financial and Regulatory ways to Restructuring companies

Fund Management, Treasury and advanced risk management

Business Finance, Economic environment, Global trades

Emerging concepts in finance and financial management

Advanced Performance Management (APM)

ACCA paper on Advanced Performance Management aims at teaching you the skills needed for performance measurement, optimisation and strategic development of companies, including multinational organisations, and integrating economic conditions and external aspects. In ACCA subjects, an Advanced Performance Management paper is short-coded as APM.

Topics covered

Performance management techniques

Using strategic planning and control models, the impact of risk and uncertainty

Identify and evaluate design features of performance management systems

Strategic performance measurement and optimisation

Analysing external factors and economic conditions

Case studies of business performance management

Advanced Taxation (ATX)

ACCA paper of Advanced Taxation is an extension of the Taxation paper at the Skill level. It aims to provide knowledgeable guidance on global tax systems, how they work, and practical use cases of taxation in business through case studies. In ACCA subjects, the Advanced Taxation paper is short-coded as ATX.

Topics covered

UK taxation system and how other tax systems have been derived

Aspects of the modern tax system

Tax effects and how taxes interact, taxes for business

Tax planning for business operations

International Taxation framework, Customs and other duties

Case Studies of complex tax planning systems

Advanced Audit And Assurance (AAA)

ACCA paper on Advanced Audit and Assurance builds combining the Advanced Audit and Assurance and Strategic Business Reporting subjects and teaches to implement them in a real business case. Current issues, exposure drafts and developments in audit, including emerging technologies, also feature. In ACCA subjects, Advanced Audit and Assurance paper is short-coded as AAA.

Topics covered

Advanced concepts of audit, regulatory framework

Audit of complex financial statements

Preparing complex and comprehensive audit reports for business

Analytical tools and techniques to interpret audit reports

Assurance engagement reporting

Case studies of audit and assurance reporting for complex business scenarios

ACCA Ethics Module

ACCA Ethics and Professional Skills module is an online self-learning module which takes approximately 15 hours to complete. This is a mandatory part of ACCA Qualification. ACCA Ethics module intends to increase your employability and workplace effectiveness. The learning of this module is done using realistic business simulations to develop many professional skills such as leadership, professional ethics, business communication and commercial awareness.

Practical Experience

ACCA Practical Experience Requirements mandate the learner to have 36 months of relevant experience; only then do they qualify to be an ACCA member. Those without appropriate accounting or finance experience need an internship for 36 months, which should meet the 9 performance goals stated by ACCA for Practical Experience Requirements. These 9 critical skills are mapped to the 13 modules of ACCA.