One of the world’s oldest and largest professional accounting qualifications, ACCA, is changing, and it is changing for good. The Association of Chartered Certified Accountants (ACCA UK), which owns and runs the ACCA qualification globally, announced some major updates in the ACCA program framework and syllabus recently.
The upcoming change is more than just an ACCA curriculum refresh; rather, it is designed to ingrain the emerging areas of today’s fast-paced, AI & tech-driven world of accounting & finance. Although these updates are practically going to be applicable from July 2027 onwards only, there are queries around the changing ACCA course, and hence, it becomes important for everyone to know it in-depth.
Why is the change happening in ACCA?
ACCA, as the world’s largest accounting body and truly a torchbearer of the professional accounting qualification in 180 countries, works very closely with all stakeholders globally.
The 4 key stakeholders whom ACCA gives topmost priority are:
- Students who want to pursue or are pursuing the ACCA qualification
- Companies which hire ACCA students, ACCA affiliates and ACCA members
- Regulators across different countries where ACCA Professionals work
- ACCA Learning Partners and training institutions that teach the ACCA course
As a global accounting body, ACCA keeps interacting regularly with all these stakeholders across the world and ensures that the entire ACCA ecosystem remains in sync with the ever-evolving accounting & finance industry trends. While the conversations from students and ACCA aspirants allow ACCA to know about the learning journey, challenges, examination acceptance, preferences, etc, the deep interactions with companies give insights to ACCA on the skills that these companies are looking for.
This helps ACCA to know the changing job roles, evolving demands, qualification value, and what else companies are expecting in the days to come. With regulators, ACCA has always been building recognition and acceptance for the qualification and at the same time, with learning partners, they get to know about the ACCA syllabus, training, ACCA qualification demands and expectations.
This gives ACCA a 360-degree view of the entire accounting & finance industry and hence ACCA can plan not just for today but also create a global accounting & finance qualification framework which will be relevant, in demand and top-notch even in future.
The upcoming change in ACCA and the new ACCA syllabus come in response to growing demands from these stakeholders and industry leaders who want job-ready accounting & finance professionals with professional skills, strategic insight, practical expertise & hands-on experience with emerging tech in the accounting & finance domain.
Though ACCA syllabus updates are very regular in nature, but at a time interval of almost every 10 years, ACCA does bring in significant restructuring in a bid to realign the program to the changing dynamics of the industry and stay in demand. After 2007 and 2017, the next major change in the ACCA course is going to happen in 2027. Yes, that’s almost every 10 years!
Over the last few years, in ACCA’s engagement with all these stakeholders, ACCA identified the need to bring in more focus on artificial intelligence, tech enablement, data science, digital technology, risk management, sustainability, etc and all these with special context to accounting & finance. While these new elements were rightly to be added or enhanced in the qualification, the other thought was also not to increase the exams or duration, but rather to reduce it a bit.
Keeping in mind all these findings, ACCA has rolled out changes which are not only going to multiply the need for the qualification in the industry but also will position it way ahead of any other professional accounting qualification in the world.
What is the new ACCA program framework?
Here is what the new ACCA course will look like:
Let us now decode the ACCA 2027 curriculum point by point:
Renamed Levels
The currently prevailing names of ACCA levels -Applied Knowledge, Applied Skills, and Strategic Professional levels are being changed a bit. They would be renamed as Knowledge, Expertise & Strategic Professional levels.
Levels Restructuring
Currently, the count of papers in the ACCA qualification is 3 at Knowledge, 6 at Skill and 4 at Professional (2 compulsory and 2 electives out of 4 ACCA papers). In the new ACCA structure, the number of ACCA papers would be 3 at Knowledge, 5 at Skill and 3 at professional (2 compulsory and 1 elective out of 5 ACCA papers).
ACCA FIA Revamp
The subjects in the ACCA Foundation route are completely restructured now. In place of FBT, FMA & FFA, now the subjects are – Accounts Preparation, Management Information, and Decision Making with Data. The ACCA FIA route applies to all those who don’t meet the standard entry requirements of ACCA eligibility.
Subjects Restructuring
The nomenclature and level of some of the subjects are changing. Here is the list of new ACCA papers and their ACCA codes in the new ACCA syllabus:
- ACCA Knowledge Level (3 Papers)
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- K1 – Financial Accounting
- K2 – Management Accounting
- K3 – Business Law
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- ACCA Expertise Level (5 Papers)E1 – Taxation
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- E2 – Financial Reporting
- E3 – Audit, Risk and Control
- E4 – Finance and Investment
- E5 – Performance with Data Analysis
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- ACCA Professional Level (3 Papers)
- 2 Compulsory Papers
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- S1 – Business and Sustainability Reporting
- S2 – Strategic Business Leader
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- 1 Elective Paper
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- SAA – Audit and Assurance Professional
- ACF – Corporate Finance Professional
- SDS – Data Science Professional
- SPI – Performance and Insights Professional
- STA – Taxation Advisory Professional
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What changes in the ACCA syllabus?
Changes at the Knowledge level
- The ACCA subject of BT (Business & Technology) is no longer there, and rather Business Law moves in at the ACCA Knowledge level, which was earlier at the ACCA Skill level.
Changes at the Expertise level
- The paper on Audit is renamed and also builds risk management concepts into it.
- The Financial Management paper is renamed and replaced with Finance & Investments, which will not only cover corporate finance and financial management but will also include topics on financial markets and investments.
- The paper on performance Management is now going to include data analysis as well, making it more in sync with the market demands.
Changes at the Professional level
- SBL becomes paper no. 2
- SBR moves in as paper no. 1
- SBR is also revamped as Business & Sustainability Reporting. This new paper of BSR (earlier SBR) would include elements of ESG & sustainability going forward.
- Among elective papers at the ACCA professional level.
- Audit & Assurance and Tax continue as it is, just that in place of being called Advanced, they would now be called Professional.
- Financial Management paper changes into Corporate Finance Professional paper.
- Performance Management paper converts into Performance & Insights professional.
- Data Science gets added as a new, standalone elective subject at the professional level.
Fewer Exams
- The revised syllabus will mean 2 fewer exams for ACCA full course candidates.
- At the ACCA Expertise level, there will be only 5 exams, which means 1 fewer exam.
- At the ACCA Professional level, there would be only 3 exams, meaning 1 exam less here as well.
- For those who have exemptions, the actual exams required to be passed will be even fewer, making it faster to complete the ACCA qualification.
More Optional Papers, yet Fewer Optional Exams
Currently, ACCA has 4 optional papers at the professional level, out of which everyone has to pick 2 subjects for the ACCA exams. In the new framework, rather than 4 ACCA electives, you will get 5 ACCA elective papers, but in place of 2, you will have to write only 1 ACCA elective exam.
Empowering Certificates
After completion of each level, you will be awarded with ACCA Certificates & Diplomas as follows:
- Passing ACCA FIA: Diploma in Accounting & Business from ACCA
- Passing ACCA Knowledge: Higher Diploma in Accounting & Business from ACCA
- Passing ACCA Expertise: Advanced Diploma in Accounting & Business from ACCA.
- Passing ACCA Professional: ACCA Qualification
At the Expertise & Professional level, you will have the option to earn a B.Sc. Professional Accountancy and M.Sc. Professional Accountancy degree respectively from the University of London.
Employability Modules
Current EPSM (Ethics & Professional Skill module) in ACCA is changing upside down now and coming in a completely new avatar. ACCA is introducing self-paced employability modules, which can also be clubbed with your ACCA PER (Practical Experience Requirement of 3 years) and reduce your PER requirements by up to 6 months.
The Employability modules aim at strengthening career readiness alongside building knowledge on digital tech, innovation, ethics, leadership and entrepreneurship. There are some compulsory employability modules at each level, and then, in addition to them, there are optional modules available as well, putting more & more focus on employability as the outcome of ACCA.
When is the new ACCA course going live?
The new ACCA program structure and curriculum are going to be live and available only for the July 2027 Knowledge level exam onwards, which means that the prevailing ACCA course structure will continue as it is for the next 2 years. The changes have been announced well in advance so that the entire ecosystem, right from preparing ACCA study materials, ACCA faculties, ACCA question bank, ACCA employers, etc., can be ready to execute the change when it happens.
Whether you are already an ACCA affiliate or ACCA member, there is no change in your ACCA certification and value for you.
You will continue to hold the ACCA charter as it is. If you are pursuing your ACCA qualification right now, even then, there is not even an iota of chance for you, and you must continue your program as it is.
In July 2027, when the new ACCA program goes live, ACCA will roll out the transition process for the ACCA students who will be midway at that time. Again, for them, there is nothing to worry about, and they can continue their ACCA journey without interruptions. Program changes have happened in the past too (every 10 years, almost), and ACCA candidates have always been given the flexibility of transition.
Why this ACCA redesign matters!
Over the last decade or so, data science and artificial intelligence have become a critical element for all industries. Similarly, data science and AI have significantly transformed accounting and finance jobs
by not only automating most of the basic accounting tasks, but also building systems for financial control, enhancing decision-making, improving risk management and shifting focus from execution of tasks to more strategic functions.
Employers are increasingly demanding not just accountants or finance guys who can prepare financial statements or do an audit, but rather they demand someone who brings proficiency in solving complex problems and ensuring financial success to the business. And hence, the Accounting & Finance professionals of tomorrow must be in command of these emerging areas.
The ACCA 2027 syllabus focuses on real-world relevance by:
- Adding data science, AI and digital readiness in accounting tools
- Combining employability skills at each level of the ACCA curriculum
- Incorporating realistic case studies in assessments
- Emphasising ethics, sustainability, innovation and entrepreneurship
With the upcoming changes in ACCA course design, it completely goes on the tag line of ACCA “Think Ahead”. With these changes, ACCA is surely thinking the whole of the accounting & finance space from a new angle and taking this far ahead of any other qualification.
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This article is written by Rajesh Singh. Rajesh is the Business Head at Imarticus Learning and ex-CEO at ICoFP (Bajaj Capital Group). A mentor to thousands, he has trained and placed candidates at top firms, including the Big4. His recruiter-level insights and certification expertise make this a must-attend session for every aspiring finance professional.