Acca new syllabus 2019
The ACCA (Association of Chartered Certified Accountants) new syllabus for 2019 is designed to equip students with the knowledge, skills, and competencies required to succeed in the accounting profession. Here are the key changes and updates:
New Syllabus Structure:
The ACCA syllabus has been reorganized into three pillars:
- Fundamentals: This pillar focuses on the core principles of accounting, including financial reporting, auditing, and taxation.
- Professional: This pillar covers more advanced topics, such as financial management, strategic management, and business reporting.
- Essential: This pillar includes essential skills and knowledge required for professional accountants, such as ethics, governance, and communication.
New Papers and Modules:
The ACCA has introduced new papers and modules to reflect the changing needs of the accounting profession. These include:
- F1: Accountant in Business: This paper replaces the previous F1 paper and focuses on the application of accounting principles in a business context.
- F2: Management Accounting: This paper replaces the previous F2 paper and covers management accounting topics, such as budgeting, forecasting, and performance measurement.
- F3: Financial Accounting: This paper replaces the previous F3 paper and focuses on financial accounting principles, including financial statements, accounting standards, and auditing.
- F4: Corporate and Business Law: This paper replaces the previous F4 paper and covers corporate and business law, including company law, insolvency law, and employment law.
- F5: Performance Management: This paper replaces the previous F5 paper and covers performance management topics, such as budgeting, forecasting, and performance measurement.
- F6: Taxation: This paper replaces the previous F6 paper and covers taxation topics, including income tax, corporation tax, and value-added tax.
- F7: Financial Reporting: This paper replaces the previous F7 paper and focuses on financial reporting principles, including financial statements, accounting standards, and auditing.
- F8: Audit and Assurance: This paper replaces the previous F8 paper and covers audit and assurance topics, including auditing standards, audit procedures, and assurance services.
- F9: Financial Management: This paper replaces the previous F9 paper and covers financial management topics, including financial planning, budgeting, and forecasting.
- SBL (Strategic Business Leader): This paper is a new module that assesses students' ability to apply strategic business skills and knowledge in a business context.
Key Changes:
- Increased emphasis on ethics and professionalism: The new syllabus places greater emphasis on ethics, professionalism, and the role of accountants in society.
- More focus on business and management: The new syllabus includes more topics related to business and management, such as strategic management, financial management, and performance measurement.
- Greater emphasis on digital skills: The new syllabus recognizes the importance of digital skills in the accounting profession and includes topics such as data analysis, financial modeling, and digital communication.
- New assessment methods: The new syllabus includes new assessment methods, such as case studies, group discussions, and scenario-based questions, to reflect the changing needs of the accounting profession.
Overall, the ACCA new syllabus for 2019 is designed to equip students with the knowledge, skills, and competencies required to succeed in the accounting profession and to prepare them for the challenges of the 21st century.