syllabus changes for acca qualification exams

Guidance for students You may previously have prepared for an exam under the 2020/21 syllabus and are now preparing for that same exam under the new 2021/22 syllabus, which applies from September 2021 until June 2022*.
The good news is that there are not too many syllabus changes overall. The interactive table on the next page sets out where there are changes and links you through to more detail about what the changes are, recommended articles and other resources, including links to the websites of our Approved Content Providers, BPP Learning Media and Kaplan Publishing.
For every exam, regardless of syllabus changes, the table also links you to our ‘Essentials on one page’ resource, which gives you an overview of the exam as well as tips for success, guidance on how to tackle the exam and links to key resources.
* Except for LW variants, TX and ATX, which can have a different syllabus year. Refer to the ACCA website for information about your exam. Also note the syllabus year for the Applied Knowledge exams runs from September 2021 to August 2022.
SYLLABUS CHANGES FOR ACCA QUALIFICATION EXAMS: 2020/21 – 2021/22
Use the table below to understand whether your exam is affected by syllabus changes. Click on the icons to access further information and guidance.
Strategic Professional
EXAM ARE THERE ANY SYLLABUS CHANGES? SUPPORTING RESOURCES
Strategic Business Reporting (SBR-INT) YES Access more info about the SBR-INT syllabus changes HERE
Strategic Business Leader (SBL) YES Access more info about the SBL syllabus changes HERE
Advanced Financial Management (AFM) NO Access AFM ‘Essentials on one page’ HERE
Advanced Performance Management (APM) YES Access more info about the APM syllabus changes HERE
Advanced Taxation (ATX-UK) N/A Access ATX-UK ‘Essentials on one page’ HERE
Advanced Audit and Assurance (AAA-INT) YES Access more info about the AAA-INT syllabus changes HERE
Applied Skills
Corporate and Business Law (LW-ENG) NO – although one learning outcome has been deleted – see HERE Access LW-ENG ‘Essentials on one page’ HERE
Performance Management (PM) YES Access more info about the PM syllabus changes HERE
Taxation (TX-UK) N/A Access TX-UK ‘Essentials on one page’ HERE
Financial Reporting (FR) NO – although the wording of some learning outcomes has been changed Access more info about FR learning outcome changes HERE
Audit and Assurance (AA) YES Access more info about the AA syllabus changes HERE
Financial Management (FM) NO Access FM ‘Essentials on one page’ HERE
Applied Knowledge
Business and Technology (BT) NO Access BT ‘Essentials on one page’ HERE
Management Accounting (MA) YES Access more info about the MA syllabus changes HERE
Financial Accounting (FA) NO – although the wording of some learning outcomes has been changed Access more info about FA learning outcome changes HERE
Strategic Business Reporting (SBR-INT) – guidance on syllabus changes
ACCA Approved Content It’s vital to use up to date study materials when preparing for your exam. ACCA’s Approved Content materials have been assessed by ACCA’s examining team to ensure they are of the very highest quality. To find out more, please click on the logo links below:
What does this mean for me?
n We recommend you make use of all technical articles available for SBR, but we would draw your attention to the following articles in particular:
Read the mind of the marker – Part 1
Read the mind of the marker – Part 2
n The key to exam success is question practice. If you’re preparing for an SBR CBE, visit this page for guidance on how to approach question practice, including using the new ACCA Practice Platform
n We strongly recommend you complete the Ethics and Professional Skills module before attempting SBR
Recommended resources
For the September 2021-June 2022 exam year, there have been few changes to the syllabus. As detailed in syllabus section F1(c), you will be expected to discuss the impact of current reporting issues in corporate reporting. This could be tested by asking you to apply one or several existing standards to an accounting issue. You may also be asked to provide an explanation of the resulting accounting implications (for example, accounting for digital assets or accounting for the effects of a natural disaster or global event). The following examples are relevant to the current syllabus:
1. Presentation and disclosures 2. Materiality in the context of financial report 3. Management commentary
Examinable documents are updated annually to reflect current developments.
What’s changing? SECTION AND SUBJECT AREA SYLLABUS CONTENT
C11b deletion
Discuss and apply the principles behind the initial recognition and subsequent measurement of a biological asset or agricultural produce.[2]
Removed as very specialist area that requires more knowledge than IAS 41 to effectively report on. Note it remains within the FR syllabus and is therefore assumed knowledge for SBR
F1c addition
Discussion of solutions to current issues in financial reporting.
Updating for current issues and clarifying the scope and include examples such as digital assets and global events.
F1c deletion
Discussion of solutions to current issues in financial reporting.
Removed 1. Accounting policy changes and 3. Defined benefit plan amendments, curtailment
or settlement as now incorporated in the main IFRS standards and added Presentation and Disclosures to reflect the Exposure Draft (see Examinable Documents).
In addition to these changes, there are a variety of minor wording and other changes which have been made for clarity. If you would like more detail on these please refer to the table at the end of the 2021-22 syllabus document.
In SBR, as in the workplace, you need to consider the point of view of investors and other stakeholders. This means analysing and interpreting information, explaining how transactions affect the financial statements and other reports or explaining accounting treatments and disclosures.
How to approach the Strategic Business Reporting (SBR-INT) exam SBR has a wide ranging syllabus, which includes many accounting standards, some introduced in Financial Reporting and others examined only in SBR. Current issues, exposure drafts and narrative reporting frameworks also feature. Questions are set in the context of single entities, groups, private or public sector, for-profit, or not-for-profit organisations.
To study SBR effectively you need to understand the nature of the exam and what you will be asked to do.
Links to support resources
n Examining team guidance
n Examiner’s reports
n Read the mind of the marker – Part 1
n Read the mind of the marker – Part 2
n Tutor video review of the March 2020 exam
n Strategic Professional CBE support
n FAQs
Analyse the requirements
Read the scenario carefully to understand issues and any stakeholder perspective
Identify relevant technical knowledge n Remember – more than one standard
may be relevant, and consider the principles from the Conceptual Framework.
Apply this to the scenario n Don’t simply regurgitate everything
you can remember. Select relevant points and explain how they apply to the facts in the scenario
n You may need to produce some calculations as part of an explanation but numbers alone will not earn enough marks to pass.
Writing a good answer – how to demonstrate professionalism:
n Plan your answer n Use headings and short paragraphs n Consider the stakeholders – relevant
content and appropriate tone.
DISCUSS EXPLAIN ADVISE
Advice from an expert tutor
n Make use of ACCA resources n Real life reading – eg real
company financial statements n Cover the syllabus widely –
breadth rather than depth n Practice questions, and take
time to review your answers. If you’re preparing for an SBR CBE, visit this page for guidance on how to approach question practice, including using the new ACCA Practice Platform
n Written aspects are very important – don’t just practice numbers
n Get used to planning and writing clear answers.
How to prepare
Knowledge gained in previous exams
Conceptual Framework
New detailed knowledge
Ethics
The Conceptual Framework underpins the whole syllabus. The better you know the Framework, the easier it is to learn the principles of each individual standard.
Professionalism is more than calculating
numbers. It means applying ethics
and judgement to add value, taking a holistic view and
communicating professionally.
For the September 2021-June 2022 exam year, there have been few changes to the syllabus. A new learning outcome has been added on managing, monitoring and mitigating risk, D2g. You should have a knowledge of and be able to apply the concept of assurance mapping to modern risk management using the ‘four lines of defence’
In addition to this, a new learning outcome has been added on machine learning, AI and robotics, E3. You should be able to explain the benefits of using artificial intelligence (AI), robotics and other forms of machine learning to support strategic decisions and the pursuit of corporate objectives. You should also be able to assess the risk, control and ethical implications of using AI, robotics and other forms of machine learning in the context of the scenario presented.
Other employability and digital skills, syllabus area J, is an addition to the syllabus and reflects that the exam will be sat by computer-based exam (CBE), allowing you to demonstrate the skills required for the workplace.
A3 deletion
Professionalism, ethical codes and the public interest
a) Evaluate organisational decisions using the Tucker 5 question approach.[2]
D1 deletion
Identification, assessment and measurement of risk
g) Recognise and analyse the sector or industry specific nature of many organisation risks.[2]
i) Explain and assess the ALARP (as low as reasonably practicable) principle in risk assessment and how this relates to severity and probability.[3]
D2 addition
Managing, monitoring and mitigating risk
g) Apply the concept of assurance mapping to modern risk management using the ‘four lines of defence’.[3]
E3 addition
Machine learning, AI and robotics
a) Explain the potential benefits of using artificial intelligence (AI), robotics and other forms of machine learning to support strategic decisions and the pursuit of corporate objectives.[2]
b) Assess the risk, control and ethical implications of using (AI), robotics and other forms of machine learning3
F2 deletion
Audit and compliance c) Respond credibly to requests and enquiries from internal or external auditors.[3]
G1 deletion
Finance function a) Explain the relationship between an organisation’s financial objectives and its business strategy.[2]
J addition
Other employability and digital skills
1) Use computer technology to efficiently access and manipulate relevant information. 2) Work on relevant response options, using available functions and technology, as would
be required in the workplace. 3) Navigate windows and computer screens to create and amend responses to exam
requirements, using the appropriate tools. 4) Present data and information effectively, using the appropriate tools.
n We recommend you make use of all technical articles available for SBL.
n The key to exam success is question practice. Visit this page for guidance on how to approach question practice for SBL, including using the new ACCA Practice Platform
n We strongly recommend you complete the Ethics and Professional Skills module before attempting SBL
ACCA Approved Content It’s vital to use up to date study materials when preparing for your exam. ACCA’s Approved Content materials have been assessed by ACCA’s examining team to ensure they are of the very highest quality. To find out more, please click on the logo links to the right:
The rationale for the syllabus can be summarised as follows: n Leadership and governance n Strategy requires an understanding of risk management n Technology and data analytics are transforming businesses n Organisational control includes internal audit n Financial aspects support decision making n Innovation, performance excellence and change management
are essential to organisational success.
n Professional Skills marking guide
n How to approach the SBL exam
n Specimen exams
n FAQs
Tackling the exam
The aim of the syllabus is to combine the main functions of organisations in the context of leadership capabilities.
Plan to study the syllabus content as quickly as possible
Start practicing case study questions as soon as possible. If you’re preparing for an SBL CBE, visit this page for guidance on how to approach question practice, including using the new ACCA Practice Platform.
Work on your professional skills from the outset
Attempt each specimen and past exam in 4 hours and in full.
Tips for success in the SBL exam
How to earn Professional Skills marks
20% of the total marks will be allocated to Professional Skills:
n Read each requirement: • Note the specified answer format (e.g. a memo) • Identify the professional skill (e.g. scepticism) and
recall the sub-skills (e.g. probe, question, challenge) • Read the prompt for how to demonstrate
(e.g. ‘by challenging the comments made at the emergency meeting’)
n Bear this skill in mind as you: • Read the requirement again • Actively read the relevant exhibit (e.g. transcript of
emergency meeting) • Think about and plan your answer points
n When you prepare your answer: • Present it in the specified format • Use suitable headings and subheadings • Make only relevant points • Avoid repetition • Write clearly and concisely • Keep your tone professional
You should complete the Ethics and Professional Skills Module before attempting any of the Strategic Professional examinations.
Each task will specify an answer format, for example: n Prepare a briefing paper … n Write a report for the board … n Draft a letter … A task may have more than one requirement, for example “evaluate… and recommend…”
Most frequently used SBL exam verbs:
EVALUATE DISCUSS RECOMMEND
Em p
n Read and digest quickly, comprehensive and detailed questions
n Apply relevant knowledge and skills
n Exercise the professional judgement expected of a senior financial person
n Make recommendations or financial management decisions that are likely to affect the entire business organisation
Like a senior financial person at work, you will be expected to read a business brief and decide on a relevant methodical approach to meeting the brief’s objectives, making notes where necessary. Senior managers work under tight deadlines, and hence prioritising and managing your time is crucial to performing well under examination conditions.
Tackling the exam
Question 1 will include 4 professional marks, typically for a report: n Use an appropriate format n Plan a logical structure n Use suitable headings and subheadings n Write clearly and concisely
Most frequently used AFM exam verbs:
DISCUSS ESTIMATE EVALUATE
Read this article for more about exam verbs
This strategic option exam is designed for candidates who work in or have ambitions to specialise in financial management. It builds on the assumed knowledge and demands advanced skills and techniques.
The key to exam success is question practice. If you’re preparing for an AFM CBE, visit this page for guidance on how to approach question practice, including using the new ACCA Practice Platform
Break down requirements into all constituent parts to ensure every part is answered e.g. September 2018 Question 1(c)(iii):
n Evaluate the preferred hedge choice and n [Evaluate] the debt finance needed and n [Evaluate] whether the project should
be undertaken n Considering both financial and non-financial
factors (in the above evaluations)
Understand what matters to businesses and the viewpoints of stakeholders who are interested in the subsequent decisions based on the discussion and evaluation asked for
Use the information provided in the question scenario
Communicate findings and recommendations clearly and concisely with easy to follow numerical workings supported, where appropriate, by brief notes
Appreciate that professional skills underpin good performance throughout the exam
Tips for success in the AFM exam
Advice from the examining team
n Supplement your studies with wider reading n Be aware that more than one topic area of the
syllabus may be examined in a question n Relate any discussion or evaluation to the scenario
in the question – context is very important n Use your exam time effectively – good time
management skills are essential n Structure your answers – presentation is critical
Role of the senior financial adviser
in the multinational organisation
Investment appraisal
Business finance
Business valuations
Risk management
n How to earn professional marks
n Ethics and Professional Skills module
n Past exam questions and answers
n Guide to discursive requirements
n Read the mind of the marker
n Strategic Professional CBE support
n FAQs
n We recommend you make use of all technical articles available for APM, but we would draw your attention to the following articles in particular:
Changes to APM question requirements Read the mind of the marker
n The key to exam success is question practice. If you’re preparing for an APM CBE, visit this page for guidance on how to approach question practice, including using the new ACCA Practice Platform
n We strongly recommend you complete the Ethics and Professional Skills module before attempting APM
For the September 2021-June 2022 exam year, there have been minimal changes to the syllabus for APM, though wording of some learning outcomes has been revised or expanded – the detail of these changes can be found in the table opposite.
A Strategic planning and control
A1g – this learning outcome has been removed. A1g: Assess the changing role of the management accountant in today’s business environment as outlined by Burns and Scapens.[3]
A2 – this section has been removed and the PEST model moved to A1e. The rest of the subject areas under syllabus section A have been renumbered accordingly. A2: Impact of external factors on performance management
A5 – the overall section heading has changed to Environmental, social and governance factors A5b – the example of sustainability has been added to this learning outcome. A5c – input-output analysis has been added to this learning outcome.
D Strategic performance measurement
D6c – this learning outcome has been expanded on. D6c: Discuss and evaluate different methods of reward practices, including the potential beneficial and adverse consequences of linking reward to performance measurement.[3]
D6d – this learning outcome has been removed. D6d: Assess the potential beneficial and adverse consequences of linking reward schemes to performance measurement, for example, how it can affect the risk appetite of employees.[3]
D7b – this learning outcome has been expanded on to give the statement context. D7b: Assess the statement; ‘What gets measured, gets done’ in the context of performance management.[3]
D7c – specific reference to Hopwood’s management styles has been added.
n Use strategic planning and control models n Assess the impact of risk and uncertainty n Identify and evaluate design features of performance management systems n Apply appropriate strategic performance measurement techniques n Advise clients on strategic business performance evaluation
Most of these will feature to some extent in every exam session.
APM – A Strategic View
The key to exam success is question practice. If you’re preparing for an APM CBE, visit this page for guidance on how to approach question practice, including using the new ACCA Practice Platform
Understand the links between issues at the strategic, tactical and operational levels
Understand in particular how the choice of operational performance measures affects strategic performance
Be able to apply PM knowledge to more complex scenarios
Use any exhibit, information, model or technique explicitly referred to in a requirement
Interpret and further analyse data provided
Be selective in making calculations
Assess alternative approaches from different perspectives
Justify advice using the evidence given in the scenario
Quantify comments, where possible
Advice from the examining team
n Remember that APM builds on PM knowledge by applying it in more complex scenarios
n Create information from the detailed data provided in the scenario
n Add value to the organisation with comments relevant to the issues at hand
Tips for success in the APM exam
The exam requires you to build on a good grasp of basic knowledge and skills and show awareness that performance management depends on an organisation’s specific situation and environment.
Fulfil advisory role – add value
Create information from detailed data
NEW KNOWLEDGE NEW SKILLS
n Examining team guidance n Examiner’s reports n Reading the requirements for APM n Technical articles n Improving your APM answers (part 1) n Improving your APM answers (part 2) n Passing Strategic Professional exams n How to earn professional marks n Ethics and Professional Skills module n Past exam questions and answers n Big data and performance management n Developments in IT and the impact on
performance management – Part 1 n Developments in IT and the impact on
performance management – Part 2 n Read the mind of the marker n Strategic Professional CBE support n FAQs
Tackling the exam
Writing a good answer – how to earn professional marks: Question 1 will include 4 professional marks, typically for a report: n Use an appropriate format n Plan a logical structure n Use suitable headings and subheadings n Write clearly and concisely
Most frequently used APM exam verbs:
ASSESS EVALUATE ADVISE
How to approach the Advanced Taxation (ATX-UK) exam You will need a detailed knowledge of the ATX-UK syllabus. This includes assumed knowledge of technical areas brought forward from the TX-UK syllabus, which must be refreshed and updated for the examinable Finance Act. Be aware that: n All questions will be scenario-based n All questions will contain a mixture of computational and
discursive elements n More than one topic area of the syllabus may be examined
in each question n Questions may involve • Consideration of more than one tax • Some elements of planning • The interaction of taxes
n ACCA Practice Platform
n CBE preparation videos
Tackling the exam
Writing a good answer – how to demonstrate professionalism: Question 1 will include 4 professional marks, typically for a memo or notes to your tax manager. Marks may be awarded for: n Overall presentation of the requested format n The approach taken to problem solving n Clarity of explanations and calculations n Relevant advice n Effectiveness of communication
Most frequently used ATX exam verbs:
PREPARE CALCULATE EXPLAIN
Read this article for more about exam verbs
Heed this mantra from the examining team to improve your performance. Identify all the requirements in the Section A
case study questions in: n The requirements section n The document referenced in the scenario
(eg e-mail from your manager)
Allow sufficient time to analyse requirements into all constituent parts to ensure every part is answered
If given certain figures to use, do not waste time recalculating them
Relate any calculation or discussion to the context in the given scenario
Do not waste time addressing issues which have not been asked for
Appreciate that professional skills are required throughout all answers to achieve high marks
Ensure you are familiar with the CBE environment (refer to Links to support resources in this document)
Tips for success in the ATX exam
Requirements are everything – What have you been asked to do? What do you not need to do?
Preparation advice from the examining team
n ‘Know your stuff’ – you must • Have thorough, precise knowledge
of the entire syllabus • Refresh brought forward knowledge
from the TX-UK syllabus
n Practice questions under exam conditions in the ACCA Practice Platform
n Learn how to spot “triggers” which are there to point you towards the required answer
n Be prepared to answer questions on ethical issues
n Be ruthless in critiquing your answers
These are not mutually exclusive, for example: “Prepare the following notes and calculations…” “Calculate … with supporting explanations …” and “Explain … with supporting calculations …”
How will you do what the requirement is asking? Planning your answers is crucial.
Have you identified the relevant issues?
Have you thought about the point you want to make, before you start writing? This will help you to write concisely.
Make sure you know why you’re doing a particular calculation before you prepare it. Will it help you to answer the requirement?
Advanced Audit and Assurance (AAA-INT) – guidance on syllabus changes
n We recommend you make use of all technical articles available for AAA, but we would draw your attention to the following articles in particular:
Exam technique – Ethics Read the mind of the marker Exam technique – Risk AAA INT 21-22 examinable documents Exam technique – Accounting issues Exam technique – Audit procedures Exam technique – Auditor reporting
n The key to exam success is question practice. If you’re preparing for an AAA CBE, visit this page for guidance on how to approach question practice, including using the new ACCA Practice Platform
n We strongly recommend you complete the Ethics and Professional Skills module before attempting AAA
For the September 2021-June 2022 exam year, there have been some additions to the syllabus.
Learning outcome D1 in relation to the evaluation of risk requires you to evaluate and prioritise risks. This reflects the requirements of ISA 315 (revised) around the determination of significant risks in relation to a spectrum of inherent risk. Questions may ask for the significant business risk/ ROMM and audit risks to ensure that you are focussing and prioritising risks which are at the upper end of the spectrum.
The learning outcomes in relation to automated tools and techniques, particularly data analytics have been extended this year. The introduction of learning outcome D2 requires the ability to evaluate and interpret the results generated from these techniques both at the planning and evidence collection stage of the audit. You may be presented with results of these techniques in a variety of formats and asked to consider the results specifically or to utilise the results as part of planning work.
Additional learning outcomes have been added to the current issues section of the syllabus in relation to audit reform and the impact of global events on audit practice. You will be expected to have a high-level awareness of the issues and proposals surrounding audit reform and how major world events have an impact on the profession.
D1d) Interpret the results of analytical procedures, in an unbiased manner and apply professional scepticism to support the identification of contradictory information and assessment of risks of material misstatement.[3]
New learning outcome to specifically reflect the requirements of ISA 315 (Revised 2019) in relation to the use of analytical procedures in risk assessment.
D2c) Evaluate and interpret the results of data analytics tools when used during planning or evidence collection.[2]
New learning outcome regarding the use of automated tools and techniques by the auditor, specifically the use of and output from data analytics.
G2c) Discuss the proposed changes to the audit profession and critically evaluate the implications of these changes for companies and audit firms and their impact on audit process and quality.[3]
New learning outcome regarding the impact of ongoing audit reform proposals.
G2e) Discuss the impact of significant global events on audit practice.[3]
New learning outcome regarding the impact of global events on the audit profession.
In addition to these changes, other learning outcomes have been extended or revised to reflect the requirements of ISA 315, in addition to other minor wording changes made for clarity. If you would like more detail on these please refer to the table at the end of the 2021-22 syllabus document.
Performance
Planning
Engagement
The aim of the syllabus is to analyse, evaluate and conclude on the assurance engagement and other audit and assurance issues in the context of best practice and current developments.
How to approach the Advanced Audit and Assurance (AAA-INT) exam AAA has a wide ranging syllabus, which includes the audit of historical financial information (‘audit’) and other specific assignments. It builds on the Audit and Assurance and Strategic Business Reporting (SBR) exams, by introducing more complex topics and covering the basic topics from different angles to reflect the challenges auditors will face in their professional life. Current issues, exposure drafts and developments in audit including emerging technologies also feature. Questions are set in the context of single entities, groups and private or public sector organisations.
To prepare for AAA effectively you need to understand the nature of the exam and what you will be asked to do.
n Tutor video review of March 2020 exam
n FAQs
AAA – In Essence
Tackling the exam
Analyse the wording of the requirements carefully
Use the mark allocation to guide the length and breadth of the answer you should plan
Read the first paragraph to understand the assignment
Invest time in active reading of the scenario
Identify relevant technical knowledge n Accounting as well as auditing
Apply this to the scenario n Organise your planned points n Check you have used all information and
exhibits before writing out your answer
n Pay attention to layout and presentation n Write clearly and concisely n Relevant content – must ‘add value’ –
not simply restate facts or knowledge.
Most frequently used AAA exam verbs:
EVALUATE EXPLAIN
n Make use of ACCA resources
n Cover the entire syllabus
n Learn how to apply and use knowledge
n Practice planning questions, writing full answers and review them thoroughly. If you’re preparing for an AAA CBE, visit this page for guidance on how to approach question practice, including using the new ACCA Practice Platform
n Wider reading, for example news of current issues and developments in auditing
How to prepare
DISCUSS
Audit and Assurance – Underpinning knowledge and skills
NEW detailed knowledge
How to approach Corporate and Business Law (LW-ENG)
Corporate and Business Law develops a core level of knowledge and skills around a general legal framework in the context of business.
Key resources
LW: An overview
Tackling the exam
If possible, study with an Approved Learning Partner and use Approved Learning Content
Study the whole syllabus
Practice exam standard questions, to time, including the Specimen Exam and Practice Tests
Ensure you are competent working in the Computer Based Exam environment
Attempt at least two full exams under exam conditions, debrief your answers, then focus your study on weaker areas
Book your CBE exam in advance at one of the on-demand CBE centres
Steps to success
n How to book an on-demand exam
n On demand centre list
Tips for answering multi-task questions
Read and ensure you understand the scenario
Read the questions carefully Think before answering, don’t rush! Answer all questions even if unsure
of the answer Attempt exam standard questions
as possible along with the practice tests and specimen exam
Section B (30 marks)
n Five six-mark multi-task questions, each containing a scenario and a series of related tasks
Tips for answering OT questions
Read the question carefully Think before answering, don’t rush! If not sure, eliminate other answers
to help find the correct answer Answer all questions even if unsure
of the answer
n 25 objective test (OT) questions, each worth 2 marks
n 20 objective test (OT) questions, each worth 1 mark
LW recognises that candidates are potential accountants, rather than potential lawyers. The aim is to develop knowledge and skills in the understanding of the general legal framework, specific business areas and when to seek specialist legal advice where necessary.
Essential elements of the UK legal system including the court system and sources of law
Develop an understanding of Corporate fraudulent and criminal behaviour (money laundering, bribery, market abuse, management fraud)
Formation and constitutions of business organisations (Agency, partnerships,
corporations and formation of companies)
The Law of obligations (contract and Tort)
Law relating to Employment
(contract dismissal and redundancy)
Legal implications relating to
Capital and the
financing of companies
Performance Management (PM) – guidance on syllabus changes
n We recommend you make use of all technical articles available for PM, but we would draw your attention to the following articles in particular:
Big data 1: What is big data?
Big data 2: How companies use big data
Read the mind of the marker
n The key to exam success is question practice. Visit this page for guidance on how to approach question practice for PM, including using the new ACCA Practice Platform
For the September 2021-June 2022 exam year, a new learning outcome has been added on Big Data, A3d. You should have a knowledge of and be able to explain the purpose of the Big Data pyramid (including data, information, knowledge, and wisdom).
In addition to this, a new learning outcome has been added on Quantitative techniques, D2b. You will be expected to be able to explain and apply analysis techniques including correlation (calculation of the correlation coefficient and the coefficient of determination), regression (calculation of a and b and establishing the trend line y = a + bx), and time series (moving averages, trend line, additive and multiplicative seasonal adjustments). This will build on knowledge from MA. It is therefore expected you will be able to demonstrate a greater understanding of these techniques and be able to apply them to a scenario.
A3 Information systems and data analytics
A3d is a new learning outcome. A3d: Explain the purpose of the big data pyramid (data, information, knowledge, wisdom). [2]
Subsequent learning outcomes have been reordered accordingly.
D2 Quantitative techniques D2b is a new learning outcome focused on analytical techniques. D2b: Explain and apply analysis techniques including correlation, regression and time series.[2]
Subsequent learning outcomes have been reordered accordingly.
Performance Management provides you with the skills required to apply management accounting techniques to information for planning, decision-making, performance evaluation and control.
Key resources
PM: An overview
Tackling the exam
If possible, study with an Approved Learning Partner and use Approved Content
Ensure you understand methods rather than just focus on how to do the calculations
Practice exam style and standard questions, to time, using the ACCA Practice Platform
Develop your skills in answering constructed response questions
Attempt at least two full exams under exam conditions, debrief your answers, then focus your revision on weaker areas
Steps to success
n Guide to session CBEs
n Approaching PM constructed response questions
n Read the mind of a PM marker
Be strict in allocating 36 minutes to each question
Always read the requirement(s) first Approach numerical questions
logically Show all workings – do not simply
“plug” results of calculations Structure narrative answers around
an answer plan Use headings, clear paragraphs and
concise sentences Attempt all requirements
Section C (40 marks) n Two scenarios which relate to one
or more requirement(s)
Read the question and scenario carefully
Adhere to the rounding instructions for “Fill in the Blank” questions
Answer all questions
Section A (30 marks) n 15 objective test (OT) questions,
each worth 2 marks
Section B (30 marks) n Three OT cases with five OT questions
worth 2 marks each, 10 marks per case
Cost and management accounting techniques
Decision- making
How to approach Taxation (TX-UK) FA2020
Taxation provides you with the skills required to compute tax liabilities and apply basic tax planning techniques for individuals and companies.
Key resources
TX: An overview
Practice using CBE functionality appropriately
Steps to success
n Higher skills
Tips for answering Section C questions
Allocate 27 minutes to each 15 mark question (18 minutes to the 10-mark question)
Always read the requirement(s) first Focus on a well-structured layout Present all workings – do not simply
“plug” results of calculations Make clear statements for narrative
answers and avoid repetition Attempt all requirements
Section C (40 marks) n Three scenarios which typically relate
to three requirements
Read the question and scenario carefully
Adhere to the rounding instructions for “Fill in the Blank” questions
Answer all questions
each worth 2 marks
Income tax liabilities
Corporation tax liabilities:
Individuals Companies
The UK tax system, the obligations of tax payers and the implications of non-compliance
Financial Reporting (FR) – further information about changes to learning outcomes
n We recommend you make use of all technical articles available for FR. In addition, we draw your attention to the examinable documents 21/22.
n The key to exam success is question practice. Visit this page for guidance on how to approach question practice for FR, including using the ACCA Practice Platform.
For the September 2021-June 2022 exam year, there have been no changes to the syllabus for FR, though wording of some learning outcomes has been revised – the detail of these changes can be found in the table opposite.
Throughout Replaced ‘accounting standards’ with ‘IFRS Standards’
For clarification
B1 (b) Changed to ‘Identify subsequent expenditure that may be capitalised, distinguishing between asset and expense items’
Replaced ‘capital and revenue items’ with ‘asset and expense’ to reflect IFRS Standards and remove any ambiguity with the use of the word ‘capital’.
Financial Reporting provides you with the skills required to apply accounting standards and the conceptual framework in the preparation of financial statements and how to analyse and interpret those financial statements.
Key resources
FR: An overview
Tackling the exam
Study the whole syllabus Ensure you understand theories
and techniques rather than just focus on how to do the calculations
Steps to success
n How to approach performance appraisal questions
n Read the mind of an FR marker
n Tell me a story
n Revenue revisited
n Financial instruments
Be strict in allocating 36 minutes to each question
Always read the requirement(s) first Present all workings – do not simply
“plug” results of calculations Structure narrative answers around
an answer plan Use headings, make clear
statements and avoid repetition Always include a conclusion on the
analysis discussion Attempt all requirements
Section C (40 marks) n Two scenarios which relate to one
or more requirement(s)
each worth 2 marks
Read the question carefully Adhere to the rounding instructions
for “Fill in the Blank” questions Answer all questions
Accounting for transactions in financial statements
Preparing single entity
Audit and Assurance (AA) – guidance on syllabus changes
n We recommend you make use of all technical articles available for AA, but we would draw your attention to the following articles in particular:
Going concern The auditor’s report The audit of assertions Examinable documents 21/22 Read the mind of the marker ACCA Code of Ethics (p259 onwards in Rulebook)
n The key to exam success is question practice. Visit this page for guidance on how to approach question practice for AA, including using the new ACCA Practice Platform
For the September 2021-June 2022 exam year, there are no significant changes to the syllabus. Please note that several learning outcomes have been updated to reflect ISA 315 (revised 2019). These are detailed in the table to the left. Due to the change in terminology in ISA 315, questions relating to key controls will refer to direct controls.
In addition, the wording of learning outcomes on assertions and audit evidence, D1 and the independent auditor’s report, E5c and E5d have been updated.
B4 Planning and risk assessment B4 and B4a) Wording revised to reflect ISA 315 (Revised 2019)
Understanding the entity, its environment and the applicable financial reporting framework a) Explain how auditors obtain an initial understanding of the entity, its environment and the applicable financial
reporting framework.[2]
C1 Internal control C1a) and C1b) Updated to reflect ISA 315 (Revised 2019)
Internal control systems a) Explain why an auditor needs to obtain an understanding of the components of internal control relevant to the
preparation of the financial statements.[1]
b) Describe and explain the five components of a system of internal control[2]
i) control environment iv) the information system and communication ii) the entity’s risk assessment process v) control activities iii) the entity’s process to monitor the system of internal control
C2 Internal control C2 and C2a) Wording revised to reflect ISA 315 (Revised 2019)
The use and evaluation of systems of internal control by auditors a) Explain how auditors record systems of internal control including the use of narrative notes, flowcharts and
questionnaires.[2]
C3 Internal control C3a) and C3b) Updated to reflect revised terminology used by ISA 315 (Revised 2019) Internal control C3bv) Revised for clarification to include bank
Tests of controls a) Describe computer systems controls including general IT controls and information processing controls.[2]
b) Describe control objectives, control procedures, control activities, direct controls, indirect controls and tests of controls in relation to:[2]
i) The sales system iii) The payroll system v) The bank and cash system ii) The purchases system iv) The inventory system vi) Non-current assets
C4 Internal control C4b) Minor rewording to reflect ISA 315 (Revised 2019)
b) Explain, in a format suitable for inclusion in a report to management, significant deficiencies within a system of internal control and provide control recommendations for overcoming these deficiencies to management.[2]
Multiple learning outcomes have been updated/ revised to reflect the requirements of ISA 315, in addition to other minor wording changes made for clarity. If you would like more detail on these please refer to the table at the end of the 2021-22 syllabus document.
How to approach Audit and Assurance (AA)
Audit and Assurance provides you with an understanding of the knowledge and application skills required to carry out an audit engagement.
Key resources
AA: An overview
Tackling the exam
Study the whole syllabus and ensure your knowledge of ISAs and relevant financial accounting is at an appropriate level
Develop your ability to construct effective written response answers
Carefully review how correct answers to OT questions were derived
Develop your skills in providing effective narrative answers
Steps to success
Read each requirement carefully to understand what is asked for
Draw on the scenario to plan the points you need to make
Use concise headings Make clear and concise points
specific to the given scenario Describe “how” procedures should
be performed Do not give rote-learnt answer points Attempt all requirements
Read each question carefully Think before answering If unsure, eliminate incorrect answers Answer all questions
Section A (30 marks)
n Three OT cases with five OT questions worth 2 marks each, 10 marks per case
n Examiner approach
n Answering audit risk questions
n Read the mind of the AA marker
n Examinable documents 21/22 Auditor’s report
Report to management
Accept audit engagement
Effective controls
Financial Management provides you with the skills required to effectively manage the finance function of an organisation.
Key resources
FM: An overview
Tackling the exam
If possible, study with an Approved Learning Partner and with Approved Content
Study the whole syllabus Practice exam style and standard
questions, to time, using the ACCA Practice Platform
Develop your ability to construct effective written response answers
Steps to success
Tips for answering Section C questions
Plan your answer Answer the requirement directly Refer to the scenario Break your answer up with headings Be clear and concise, but ensure you
develop each point in your answer Attempt all parts of all questions
Section C (40 marks)
n Two scenarios which relate to one or more requirement(s)
Read the question carefully Think before answering, don’t rush! Answer all questions even if unsure
of the answer
n Three OT cases, each containing a scenario with five OT questions worth 2 marks each, 10 marks per case
K E Y
Working capital
Business valuations
Investment appraisal
Foreign exchange
M A N A G E M E N T
Effective finance
n How to approach discursive questions in FM
n Working capital management
n Read the mind of the FM marker
Business and Technology (BT) is concerned with ensuring that businesses operate efficiently, effectively and ethically.
Key resources
BT: An overview
Tackling the exam
If possible, study with an Approved Learning Partner and use Approved Learning Content
Book your CBE exam in advance at one of the on-demand CBE centres
Steps to success
Read the questions carefully Think before answering, don’t rush! Answer all questions even if unsure of
the answer
n There will be six multi-task questions (MTQ) in part B of the paper, each worth four marks. There are six syllabus areas and there will be one MTQ on each of them. Each MTQ will be specific to a syllabus area, with no crossover between the six generic parts of the syllabus.
Read the question carefully Think before answering, don’t rush! If not sure, eliminate other answers to
help find the correct answer Answer all questions even if unsure of
the answer
Section A (76 marks)
n 46 objective test (OT) questions, each worth 1 or 2 marks
n There will be 16 one-mark and 30 two-mark questions.Business and Technology is a gateway paper which covers many topics but on a
relatively shallow level. It is important not to drill down too deeply in any given topic, so you can spread your time on individual topics evenly.
The purpose and type of business organisation, who are the stakeholders and how does the business
interact with the external environment
What are the expected values and professional ethics in accounting and business?
Understand the business organisational structure, the functions and the role of corporate governance
Leading and
Recognise the functions of accounting and reporting systems and technology.
Understand compliance, controls and security
Understand personal effectiveness and communication within the teams
and across the organisation
Management Accounting (MA) – guidance on syllabus changes
n We recommend you make use of all technical articles available for MA.
n The key to exam success is question practice. Visit this page for guidance on how to approach question practice for MA, including using the specimen exams to prepare for your exam.
For the September 2021-August 2022 exam year, a new learning outcome has been added on sources of data, A2a. You may be required to describe the three main data sources; machine/sensor, transactional and human/social.
In addition to this, new learning outcomes have been added in summarising and analysing data, B3. You may be required to describe the five characteristics of big data (volume, variety, velocity, value and veracity). You should also be able to explain the types of big data (structured, semi-structured and unstructured), as well as explain the terms descriptive analysis and inferential analysis. Lastly, you may be asked to describe the two types of data; categorical (nominal and ordinal) and numerical (continuous and discrete).
A2 Sources of data A2a – new learning outcome. A2a: Describe the three main data sources: machine/sensor, transactional and human/social.[K]
Previous learning outcomes A2a – A2c renumbered as A2b – A2d
B3 Summarising and analysing data
B3a – new learning outcome. B3a: Describe the five characteristics of big data (volume, variety, velocity, value and veracity).[K]
B3b – new learning outcome. B3b: Explain the three types of big data: structured, semi-structured and unstructured.[K]
B3d – new learning outcome. B3d: Describe the two types of data: categorical (nominal and ordinal) and numerical (continuous and discrete).[S]
B3e – new learning outcome. B3e: Explain the terms descriptive analysis and inferential analysis.[K]
Previous learning outcomes B3b – B3e – renumbered as B3f – B3j
Management Accounting introduces the elements of management accounting which are used to support decision-making in an organisation.
Key resources
MA: An overview
Tackling the exam
If possible, study with an Approved Learning Partner and with Approved Learning Content
Book your CBE exam in advance at one of the on demand CBE centres
Steps to success
n How to book an on demand exam
Read the questions carefully Think before answering, don’t rush! Ensure you do your workings even
though you do not need to show them Answer all questions even if unsure
of the answer
n There will be 3 MTQ’s in this section each worth 10 marks. Each MTQ will examine budgeting, standard costing and performance management syllabus areas.
Tips for answering OT questions Read the question carefully Think before answering, don’t rush! Ensure you do your workings even
though you do not need to show them If not sure, eliminate other answers
of the answer
Management accounting (MA) aims to develop knowledge and understanding of management accounting techniques to support management in planning, controlling and monitoring business performance. This knowledge is then the platform to develop further in the skills and professional exams, PM, APM and SBL.
Explain the nature, source and purpose of management information
Data analysis and statistical techniques
Prepare budgets for planning and control
Explain and apply
cost accounting techniques
Performance measurements and monitor business performance
Financial Accounting (FA) – further information about changes to learning outcomes
n We recommend to make use of all technical articles available for FA. In addition, we draw your attention to the examinable documents 21/22.
n The key to exam success is question practice. Visit this page for guidance on how to approach question practice for FA, including using the specimen exams to prepare for your exam.
For the September 2021-August 2022 exam year, there have been no changes to the syllabus for FA, though wording of some learning outcomes has been revised – the detail of these changes can be found in the table opposite.
D4 Tangible non-current assets Wording updated in c), d) to replace ‘capital and expenses’ with ‘asset’ or ‘asset expenditure’ and expenses’
F1 Statements of financial position Clarified ‘reserves’ by inserting ‘equity’ to b) and c) to make terminology more consistent with IFRS
Financial Accounting introduces the fundamentals of preparing financial accounts, the regulatory framework around financial statements and the qualitive characteristics of useful financial information. It covers the recording of transactions through to the preparation of the financial statements.
Key resources
FA: An overview
Tackling the exam
If possible, study with an Approved Learning Partner and with Approved Learning Content
Book your CBE exam in advance at one of the on demand CBE centres
Steps to success
Read the questions carefully Think before answering, don’t rush! Ensure you do your workings even
though you do not need to show them Answer all questions even if unsure
of the answer
n There will be 2 multi-task questions (MTQ) in this section each worth 15 marks. Each MTQ will be specific to a syllabus area.
Read the question carefully Think before answering, don’t rush! Ensure you do your workings even
though you do not need to show them If not sure, eliminate other answers
of the answer
Financial Accounting (FA) aims to develop knowledge and understanding of the basic principles and concepts of financial accounting. It also provides the technical skills for using double-entry accounting techniques. This knowledge is the platform to then develop further in more complex accounting issues covered in the skills and strategic papers, FR and SBR.
Prepare a trial balance
Recording transactions and events
SBR-INT:
SBL:
AFM:
ATX-UK:
AAA-INT:
LW-ENG:
TX-UK:
FR:
FM:
BT:
MA:
FA:
BPP:
Kaplan: