13 ACCA Papers & Exemptions: Complete Student Guide

The Association of Chartered Certified Accountants (ACCA) is one of the most prestigious, globally-recognised certifications for professionals wishing to develop their finance career in industry-leading and accounting roles. In order to achieve full ACCA membership, students must complete 13 exams, a mandatory ethics module and three years of practical experience. Depending on your existing qualifications, you may be eligible for exemptions from some or all of the first nine exams. In this article, we provide more information about these 13 ACCA exams and how understanding the potential exemptions can help you fast track your way towards ACCA membership.

ACCA Course Details: How many ACCA exams are there? The 13 Papers Explained

The ACCA syllabus spans three progressive levels that ensure students build a solid theoretical foundation before embarking on more complex strategic leadership challenges and technical scenarios. Let’s have a look at the ACCA levels in more detail:

1. Applied Knowledge Level (3 papers)

Consider this your entry level, where you will be introduced to the core concepts of accounting, business and management practices:

• Business and Technology (BT)

For this paper you will explore how businesses operate in the modern environment. You will learn all about organisational structure, governance, the role of technology, and the ethical responsibilities of accountants within a business. The paper is predominantly theoretical and features multiple choice and scenario-based questions.

• Management Accounting (MA)

This subject will teach you how to prepare quantitative information - fundamental for internal decision making. You will learn the importance of costing techniques, budgeting and performance measurement.

• Financial Accounting (FA)

Here you will develop the technical grounding and interpretation tasks required for financial reporting. You will learn the principles of double-entry bookkeeping, how to record transactions, and how to prepare basic financial statements.

2. Applied Skills Level (6 papers)

Here you will build your knowledge to learn practical, broad-based finance skills, essential for a future as a strategic professional accountant in any sector or industry:

• Corporate and Business Law (LW)

This entirely scenario-based paper will delve into the legal framework that businesses operate within. You’ll cover topics such as contract law, employment law and how to form business organisations utilising costing, budgeting, cost accounting and decision-making techniques.

• Performance Management (PM)

Harnessing management accounting techniques like budgeting and performance evaluation, you will learn more advanced, analytical planning, controlling and decision-making methods.

• Taxation (TX)

Learn the intricacies of personal, corporate, VAT, capital gains and indirect tax systems, how to make tax calculations and the practical application of tax rules and regulations.

• Financial Reporting (FR)

Going further than Financial Accounting, this exam tests your ability to prepare and analyse financial statements according to International Financial Reporting Standards (IFRS),

• Audit and Assurance (AA)

With the study of practical, real-world scenarios, this paper introduces the principles of auditing, including the audit process, internal controls, and the professional judgment required to provide assurance on financial statements.

• Financial Management (FM)

This paper requires numerical and strategic analysis and decision-making, as it covers the financial management environment, including investment appraisal (evaluating projects), business finance (raising capital), and risk management.

3. Strategic Professional Level (4 papers)

The intensity continues; this level aims to prepare students for senior leadership and advisory roles by honing a combination of technical, ethical and professional skills. It consists of two mandatory "Essentials" papers and, depending on students’ career ambitions, a choice of two advanced "Options" papers from a list of four.

Mandatory Essentials

• Strategic Business Leader (SBL)

A comprehensive, four-hour integrated case study that tests leadership, strategy, and risk management. It simulates a real-world boardroom scenario where the students act as a consultant or senior manager, testing their strategic analysis and effective communication.

• Strategic Business Reporting (SBR)

This paper challenges students’ deeper understanding of corporate reporting and the ethical application of accounting standards of IFRS within the context of complex business scenarios.

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Options (Choose any 2):

• Advanced Financial Management (AFM)

Advanced strategic study of longer-term corporate finance, investment appraisal, mergers and acquisitions and hedging techniques for multinationals.

• Advanced Performance Management (APM)

Focus on using strategic management accounting techniques to evaluate, manage and improve organisational performance.

• Advanced Taxation (ATX)

A detailed look at complex tax planning and how to predict the impact and communication of taxation strategies on business decisions.

• Advanced Audit and Assurance (AAA)

Building on the Audit and Assurance exam to assess students’ understanding of the professional and ethical issues involved in auditing, ethics and other assurance engagements.

Understanding ACCA Exemptions

ACCA Exemptions Eligibility

As previously mentioned, it is worth applying for exemptions when you register as a student with ACCA. Your existing knowledge and qualifications (such as a BCom, BBA, BAF, or CA Inter) may relinquish you from taking all 13 exams, and ensure that you start your studies at a level consistent with your existing knowledge and skillset. This could save you considerable time and unnecessary repetition.

The maximum number of exemptions you can receive is nine, covering all papers in the Applied Knowledge and Applied Skills levels. No exemptions are available for any of the Strategic Professional papers.

Applied Knowledge Papers Exemptions

Exam	Exemption Criteria
Business and Technology (BT)	If you already have a degree in Business Administration or Management
Management Accounting (MA)	If you already have a degree in Management Accounting or Finance
Financial Accounting	If you already have a degree in Accounting or Finance

Applied Skilled Papers Exemptions

Exam	Exemption Criteria
Corporate and Business Law (LW)	If you already have a degree in Law or Legal Studies
Performance Management (PM)	If you already have a degree in Management Accounting or Finance
Taxation (TX)	If you already have a degree that included Taxation Studies
Financial Reporting (FR)	If you already have a degree in Accounting or Finance with Financial Reporting
Audit and Assurance (AA)	If you already have a degree that included auditing components
Financial Management (FM)	If you already have a degree in Corporate Finance, Financial Management or related fields

ACCA Exemptions Process

 

1. Use the official ACCA Exemption Calculator to check which specific papers you are eligible to forgo.
2. When registering as an ACCA student, you have to upload your official documentation, such as your qualification certificates and transcripts/mark sheets, for assessment.
3. Once the exemptions are approved, you will need to pay an ACCA exemption fee for each paper awarded. This fee is generally cheaper than paying for the actual exam, study materials, and tuition, so it’s well worth applying.

Check the ACCA website for more information on exemptions.

Key Features of the ACCA Levels

As discussed, the structure of the ACCA qualification is a progressive modular journey, taking students from the fundamentals of financial and management accounting through to high-level strategic leadership. It integrates ethical development and real-world experience, ensuring that graduates are well-rounded professionals prepared for global business environments.

1. Eligibility

ACCA offers flexible entry points based on your educational background:

• Professional Route: Requiring a minimum of two A-Levels and three GCSEs (including English and Mathematics) or equivalent.

• Graduate Route: Degree holders from recognised universities can enter directly and may receive exemptions for up to nine exams at the Applied Knowledge and Skills levels.

• Foundations Route (FIA): Open to anyone aged 16+ with no formal academic requirements. Completing this route allows students to progress into the main ACCA qualification.

Click here to find out more about ACCA eligibility.

2. Duration

The time needed to complete the course depends on your starting point and study intensity:

• Average Timeline: It typically takes three to four years to complete all 13 exams, the ethics module, and the practical experience.

• Full-time Study: Highly focused students can complete the exams in as little as 5 to 2 years.

• Work Experience: A mandatory 36-month Practical Experience Requirement (PER) must be fulfilled to achieve full membership.

• Time Limits: There is no limit for the first nine exams, but once you pass your first Strategic Professional exam, you have a seven-year window to complete the remaining papers at that level.

3. Progression

ACCA follows a strict sequential modular structure to ensure students’ technical mastery:

• Sequential Order: You must complete levels in order: Applied Knowledge → Applied Skills → Strategic Professional.

• Modular Flexibility: Within a specific level (e.g., Applied Skills), exams can be taken in any order you choose.

• Exam Sessions: There are four exam sessions per year (in March, June, September and December). You can take a maximum of four exams per session and eight per calendar year.

• Ethics Integration: The Ethics and Professional Skills Module (EPSM) is ideally taken after Applied Skills and before moving to the Strategic Professional level to prepare for advanced case-study exams.

Check the ACCA website for more information on the curriculum progression.

Why you should choose LSBF for your ACCA journey

You should choose London School of Business & Finance (LSBF) for your ACCA journey because it offers a supportive and flexible learning environment designed for exam success. Key features include the Pass 1st Time Guarantee™, which offers a free retake course if you are unsuccessful on your first attempt, and a team of highly experienced, award-winning tutors who focus on exam techniques and provide personalised feedback. What’s more, LSBF provides:

• Flexible Study Modes: Choose from on-campus learning at their central London location, a fully online platform with live and recorded lectures, or a hybrid model to fit round your professional and personal life.

• Comprehensive Resources: You gain access to a full range of study materials, including custom notes, question banks, and mock exams, to ensure your thorough preparation.

• Career Advancement Opportunities: LSBF offers unique dual programmes allowing you to combine your ACCA qualification with a Master's degree or a Global MBA, significantly enhancing your CV and global career prospects.

FAQs

What is the pass mark for the ACCA exams?

To pass your ACCA you must achieve an overall minimum ACCA pass rate of 50% from the Applied Knowledge level to the Strategic Professional level.

What is the ACCA Exemptions Calculator?

The ACCA Exemptions Calculatoris a free online tool provided by the Association of Chartered Certified Accountants that enables prospective students to check which of the 13 exams they may be eligible to skip, based on their prior academic or professional qualifications.

What are the benefits of obtaining ACCA exemptions?

Obtaining ACCA exemptions allows you to fast-track your path to membership by skipping exams for topics you have already mastered through prior academic or professional qualifications. These exemptions significantly reduce your overall workload, saving you substantial time and money on exam fees, study materials, and tuition.

How can you apply for ACCA course exemptions?

To apply for ACCA course exemptions in 2026, you must upload digital copies of your official academic transcripts and award certificates during the online student registration process. If you are already a registered student, you can submit additional exemption requests by uploading new qualification evidence through the "Exemptions" section of your myACCA portal.

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