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ACCA 2012 Syllabus

This guide is an important summary for those ACCA students who are currently studying their ACCA professional qualification online with InterActive.

If you are a student facing a retake examination we want to ensure that you are up to date with the recent changes to the syllabus and do not spend valuable time revising topics that are no longer covered in the exam.

Where topics have been added to the syllabus, these changes will be covered appropriately in online material and courses. No matter where in the world you are, studying for the ACCA qualification online through the InterActive platform allows you the freedom to fit your studies into your lifestyle.

Key points

  • There is no structural change to the syllabus; you will still have to complete all 14 papers, including a choice of 2 out of 4 options.
  • The rules relating to: registration, exemption and progression through the syllabus are unchanged.
  • There will be the same number of papers at each level, covering the same broad subject matter with one change
    • P1 "Professional Account" will now be referred to as “Governance, Risk and Ethics”.
  • The examinations will continue to be set twice a year, taking place in June and December.
    • With Computer Based Examination available for the three papers in the Knowledge module.
Fundamentals Knowledge Module (Papers F1, F2, F3)
No changes to the Knowledge Module will be made until January 2012. However, InterActive advises all students studying for Paper F3 in 2012 to do so under the International Stream.
Fundamentals Skills Module (Papers F4 to F9)
Paper Out of syllabus Additions
F4 Corporate Business Law No changes to syllabus  
F5  Performance Management Implications of switching costing techniques for pricing, sales strategy, performance management and decision-making.
Back-flush Accounting		 Additional decision-making techniques and advanced variance analysis.
F6  Taxation Nothing deleted from the syllabus.
Change to exam paper format to reflect simplification of capital gains tax.		 Inheritance Tax and additional VAT knowledge.
F7  Financial Reporting (INT) Nothing deleted from the syllabus Consolidation exemptions and exceptions.
F8  Audit and Assurance Planning and Risk Assessment
Planning an Audit		 Audit Framework and Regulation; Internal Control; Audit Procedures and Audit Evidence.
F9  Financial Management Nothing deleted from the syllabus Concepts of Islamic Finance
Professional Level Core (Papers P1, P2 and P3)
P1 Governance, Risk and Ethics Nothing deleted from the syllabus Identifying and Assessing Risk; Controlling and Managing Risk.
P2 Corporate Reporting (INT) Hyperinflation
Implementation issues on adoption of IFRSs
IFRIC interpretations		 Reconstruction schemes; IFRS for SMEs; Consolidation Exemptions and Exceptions
P3 Business Analysis Quality Issues
Performance Management
Reward Management		 Cost and Management Accounting; Forecasting; Project Management; E-business.
Professional Level Options (Papers P4, P5, P6 and P7)
P4 Advanced Financial Management Preparing advice on personal finance
Predicting corporate failure (old sections D1 a & b)
Emerging financial derivatives		 Financial Strategy Formulation – risk diversification; Current developments
P5 Advanced Performance Management Pricing Performance measurement systems and design; Strategic performance measurement; Performance evaluation and corporate failure; Current developments.
P6 Advanced Taxation Nothing deleted from the syllabus No additions to the syllabus
P7 Advanced Audit and Assurance Some basic aspects of practice management, assignments and reporting. The impact of internal audit on an external audit.
(Students who are yet to commence studies of any ACCA paper are unaffected.)