Strategic Approach in Tackling ACCA
Examinations
By: Ms. Alice IP
BEcon, MBus, CPA (Aust.), CPA
College of Business and Finance
HKUSPACE
16 March 2013
ACCA
 Association of Chartered Certified Accountants
特许公认会计师公会
 An internationally recognised qualification
 It is not only a qualification for accountants
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ACCA Qualification专业资格
To qualify as an ACCA member:
 Pass 14 examinations (up to 9 papers are eligible for
exemptions)
 3 years relevant work experience
 Pass the Professional Ethics module
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ACCA Examinations
 The ACCA exams are divided into two levels:
 Fundamentals
 Professional
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ACCA Examinations
- Fundamentals
Divided into two modules with nine papers in total:
Knowledge module papers (F1-F3):
Cover the main areas of financial and management accounting
 F1 Accountant in Business
 F2 Management Accounting
 F3 Financial Accounting
Can attempt the papers within each module in any order
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ACCA Examinations
- Fundamentals
Skill module papers (F4-F9)
Cover the main technical areas that accountants are expected
to know:
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F4 Corporate and business law*
F5 Performance management
F6 Taxation*
F7 Financial reporting
F8 Audit and assurance
F9 Financial management
*with China variant paper
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ACCA Examinations
- Professional
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Explore more advanced professional skills, techniques and values that are
required at a senior level by accountants working in an advisory or consultancy
role
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Divided into two parts with five papers in total:
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Essentials
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P1
P2
P3
Governance, Risk and Ethics
Corporate Reporting
Business Analysis
Options (choose any two papers )
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P4
P5
P6
P7
Advanced Financial Management
Advanced Performance Management
Advanced Taxation *
Advanced Audit and Assurance
* With China variant papers
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ACCA Examination
 Twice a year – June and December diets
 Maximum 4 examinations for each diet
 Can attempt the papers within each module in any
order
Format of examinations:
 Computer-based examinations (CBS) - available
throughout the year
 paper based exam – June & December
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Examination format
Knowledge module papers (F1-F3)
Duration:
No. of questions:
two hours
50 multiple choice questions,
all compulsory
(out of 100 marks)
 Available in computer based exam (CBE) or paper
based exam
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Examination format
Skills module papers (F4-F9)
Duration:
Three hours
No. of questions: 4 to 10 compulsory questions
Professional level (P1 – P7)
Duration:
Three hours
2 sections:
Section A – compulsory questions
Section B – choice of 2 from 3 questions
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Exam tips –Preparation stage
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Familiar with syllabus and structure
Use the latest material, study guide
Throughout understanding of concepts
Prepare revision notes
Target setting
Extensive practice of past exam papers
Read examiners reports, marking scheme
Exam paper analysis
Examinable documents
Examiner’s approach interviews
Tuition support
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Exam tips -During Examination:
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Read questions carefully
Answer the easiest question first
Plan your answers in logical order and write clearly and neatly
Computation questions – show all workings, calculations
Analyse and evaluate the question carefully, identify issue(s), apply
concept
Avoid bullet points in essay / discursive questions
don’t repeat the question or reproduce it
Relate case information to the question, recall relevant accounting
/auditing standard(s)/ case laws/ regulations and use them to develop
your answer
Attempt ALL questions
Good time management – don’t overrun one question
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Examination Approach – P7
5 compulsory questions:
 Question 1 (25 marks) – Preparation of group financial
statements
 Question 2 (25 marks) – Reporting of non-group
financial statements
 Question 3 (25 marks) – Appraisal of an entity’s
performance/ cash flow statements
 Questions 4 & 5 (15 & 10 marks) – Remainder of
syllabus
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Read Technical article from examiner
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Extract from F7 – Dec 2012 exam paper
 4 (a) Two of the qualitative characteristics of information
contained in the HKICPA’s Conceptual Framework for
Financial Reporting are understandability and
comparability.
 Required:
 Explain the meaning and purpose of the above
characteristics in the context of financial reporting
and discuss the role of consistency within the
characteristic of comparability in relation to changes
in accounting policy.
 (6 marks)
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P7 - Common Mistakes for Students
 Did not answer Q4 and Q5
- Run out of Time
- Not cover the syllabus well
 No workings to support the answer
 Poor handwriting
 Do not write on margin
 Fundamental weakness on Paper F3
 Did not practise the past exams well
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Passing Rate over years
 Low Passing Rate in June diet
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Improving passing rate……..
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Passing rates - Fundamental Papers
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Passing Rates – Professional Papers
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Past Exam Trend
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ACCA Exams Assistance
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Online resources include:
examiners' approach articles
examiners' approach interviews
Student Accountant technical articles
guidance on examinable documents
syllabus and study guides
examiners' analysis interviews
Examinable documents
examiners' reports
past papers
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ACCA website
How to pass exam:
http://www.acca.org.uk/en/student/Essentials/passexams.html
Study tips:
http://www.acca.org.uk/en/student/Essentials/passexams/Study-tips.html
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Exam dates
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Approved Learning Partner (ALP)
 Tuition programme recongised by ACCA
 HKUSPACE – Gold Approved Learning Partner
 Offer ACCA Professional Examination Preparatory
courses since 1992
 Over 30 students received Top Achiever Awards in
ACCA Professional Examinations
 HK Top Achievers Award – Jun 2012 diet, F3 Financial
Accounting
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HKUSPACE as Approved Learning
Partner (ALP)
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Intensive tutorials
Assist you to pass examinations
Practical
Overview of all topics
Examination orientated
Highlight exam techniques
Analyse past exam trends
Important topics
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ACCA
Thank you
Q& A sessions
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