ACCA Applied Skills Level Exams, Level 5
Set at Level 5, this course delivers the 6 Applied Skills Level modules for the examinations that form part of the requirements to join the Association of Chartered Certified Accountants.
After the Applied Skills level, further examinations will be required at Strategic Level, along with the Practical Experience Requirements and the Ethics and Professional Skills Module, to become ACCA qualified.
Attained AAT Level 4 or Applied Knowledge stage of ACCA, previously known as F1, F2 & F3, for which exemptions may be available from ACCA depending on prior qualifications.
Performance Management (PM)
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.
Financial Reporting (FR)
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.
Corporate & Business Law (LW)
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.
To develop knowledge and skills relating to the tax system as applicable to individuals, single companies, and groups of companies.
Audit and Assurance (AA)
To develop knowledge and understanding of the process of carrying out the assurance engagement and its application in the context of the professional regulatory framework.
Financial Management (FM)
To develop the knowledge and skills expected of a finance manager, in relation to investment, financing, and dividend policy decisions.
How will I be assessed?
ACCA examinations run in March, June, September and December on set days for all subjects except Corporate and Business Law, which can be sat at any time.
Computer based exams are 3 hours 20 mins plus 10 mins reading time. Paper based exams are 3 hours plus 15 minutes reading time. The pass mark is 50%. You will be required to book to sit the exams at an approved ACCA Exam Centre yourself.
What can I do next
Upon completion of the Strategic Level, if you have completed the Practical Experience Requirements and the Ethics and Professional Skills Module, you can apply to become a member of the Association of Chartered Certified Accountants (ACCA).