Exam modules

This module ensures that you will have a sound understanding of the techniques of double entry accounting and can apply its principles in recording transactions, adjusting financial records and preparing non-complex financial statements.

The Accounting exam has 25 questions. 24 questions (60% of the overall marks) are presented in the form of multiple-choice, multi-part multiple choice or multiple-response, and one is a scenario-based question (40% of the overall marks). For the scenario-based question, you will be asked to prepare single company financial statements; either a statement of profit or loss and statement of financial position or a statement of cash flows, using a pro-forma template.

This module ensures that you understand the assurance process and fundamental principles of ethics, and are able to contribute to the assessment of internal controls and gathering of evidence on an assurance engagement. 

The Assurance exam has 50 questions worth two marks each. The questions are presented in the form of multiple choice, multi-part multiple choice or multiple response.

This module provides you with an understanding of how businesses operate and how finance functions help businesses to achieve their objectives.

The Business, Technology and Finance exam has 50 questions worth two marks each. The questions are presented in the form of multiple choice, multi-part multiple choice or multiple response.

This module enables you to prepare essential financial information for the management of a business. 

The Management Information exam has 32 questions (80% of the overall marks). They are presented in the form of multiple-choice, multi-part multiple-choice or multiple-response, and one is a scenario-based question (20% of the overall marks) which will be drawn from either costing and pricing; budgeting and forecasting; performance management; or management decision making.

This module enables you to understand the general objectives of taxation and to calculate income tax, national insurance contributions, capital gains tax, corporation tax and VAT in straightforward scenarios.

The Principles of Taxation exam has 42 questions. 40 questions (80% of the overall marks) are presented in the form of multiple-choice, multi-part multiple-choice, multiple-response or numeric entry. Two questions are scenario-based (worth 20% of the overall marks, 10% each), each question will cover a single syllabus area: income tax and NIC, and corporation tax.

This module aims to provide you with an understanding of the principles of English law.

The Law exam has 50 questions worth two marks each. The questions are presented in the form of multiple choice, multi-part multiple choice or multiple response.

This module aims to develop your understanding of the critical aspects of managing an assurance engagement (including audit engagements): acceptance, planning, managing, concluding and reporting.

Audit and Assurance will develop your understanding of the critical aspects of managing an assurance engagement (including audit engagements): acceptance, planning, managing, concluding and reporting. The exam is computer-based and is 2.5 hours long, the pass mark is 55% and is available in March, June, September and December. You have a maximum of four attempts at this exam.

The Business Planning modules provides you with the opportunity to gain subject- and  sector specific knowledge while studying for the ACA. You will sit one of the Business Planning modules.

There are three to choose from – Business Planning: Taxation, Business Planning: Banking, and Business Planning: Insurance.

All Business Planning exams are 2.5 hours long and will consist of three questions.

Business Planning: Taxation

This module will enable you to apply technical knowledge and professional skills to identify and resolve taxation issues that arise in the context of preparing tax computations and to advise on tax-efficient strategies for businesses and individuals.

You will be required to use technical knowledge and professional judgement to identify, explain and evaluate alternative tax treatments and to determine the appropriate solutions to taxation  issues, giving due consideration to the needs of clients and the interaction between taxes. The commercial context and impact of recommendations will need to be considered in making such judgements, as will ethical and legal issues.

Business Planning: Banking

To enable students to apply technical knowledge and professional skills to identify and resolve technical compliance and ethical issues that arise in the context of the preparation and evaluation of financial and regulatory reporting and from providing audit and assurance services in the banking sector.

Business Planning: Insurance

To enable students to apply technical knowledge and professional skills to identify and resolve technical compliance and ethical issues that arise in the context of the preparation and evaluation of financial and regulatory reporting and from the provision of audit and assurance services in the insurance sector.

This module will provide you with an understanding of how an organisation develops, implements and monitors strategy, including any ethical implications.

The Business Strategy and Technology exam provides students with an understanding of how an organisation develops and implements strategy, including any ethical implications. The exam is 2.5 hours long and will consist of three scenario-based questions, covering a range of different industries and types of organisations. The exam is available in March, June, September and December and you have a maximum of four attempts at this exam.

There are two financial reporting modules which you can choose between, being either IFRS® Standards or UK GAAP. This means that you can study the financial reporting framework most beneficial to their employer and clients.

Financial Accounting and Reporting: IFRS® Standards

This module enables you to prepare complete single entity and consolidated financial statements, and extracts from those financial statements, covering a wide range of International Financial Reporting Standards (IFRS® Standards). You will also be required to explain accounting and reporting concepts and ethical issues, and the application of IFRS® Standards to specified single entity or group scenarios.

Financial Accounting and Reporting: UK GAAP

This module enables you to prepare complete single entity and consolidated financial statements, and extracts from those financial statements, in accordance with FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. In addition, you will have a working knowledge of FRS 105 and The Financial Reporting Standard applicable to the MicroEntities Regime. You will also be required to explain accounting and reporting concepts and ethical issues, and the application of UK GAAP to specified single entity or group scenarios.

This module will enable you to recommend relevant options for financing a business, recognise and manage financial risks and make appropriate investment decisions.

The Financial Management exam is 2.5 hours long and will consist of three questions. The exam focuses on four key interlinked business decisions: investment decisions, financing decisions, dividend decisions and risk management decisions. Managing financial risk will have a question all to itself, whereas assessing financing options and investment decisions and valuation will be spread throughout the remaining two questions. The exam is available in March, June, September and December and you have a maximum of four attempts at this exam.

This module aims to enable you in straightforward scenarios to:

• prepare tax computations for individuals and companies;
• understand the tax implications of a course of action; and
• explain potential tax treatments of transactions.

The Tax Compliance exam is 2.5 hours long consisting of five questions. The exam will require you to prepare tax computations for individuals and companies, understand the tax implications of a course of action and explain potential tax treatments of transactions. The exam is available in March, June, September and December and you have a maximum of four attempts at the exam.

The case study ensures that you can provide advice on complex business issues in the form of a written report.

The objective of the Case Study is to assess your understanding of complex business issues and the ability to analyse financial and non-financial data, exercise professional and ethical judgement, and develop conclusions and recommendations.

The Case Study exam will assess your understanding of providing advice on complex business issues in the form of a written report. The scenario may be based on a variety of different organisational structures or operations, and you will be provided with advance information ahead of the exam. The exam is four hours long and will consist of three requirements and an executive summary. The exam is available to sit in July and November and is open book and will permit you to take any written or printed material into the exam.

This module will enable you to apply technical knowledge, analytical techniques and professional skills to resolve compliance and business issues that arise in the context of the preparation and evaluation of corporate reports and from providing audit services.

You will be required to use technical knowledge and professional judgement to identify, explain and evaluate alternatives and to determine the appropriate solutions to compliance issues, giving due consideration to the needs of clients and other stakeholders. The commercial context and impact of recommendations and ethical issues will also need to be considered in making such judgements.

The Corporate Reporting exam will enable you to apply technical knowledge, analytical techniques, and professional skills to resolve compliance and business issues that arise in the context of the preparation and evaluation of corporate reports and from providing audit services. The exam is 3.5 hours long with a pass mark of 50%. It contains three questions and is available to sit in July and November. The exam is open book and will permit you to take any written or printed material into the exam.

This module will enable you to demonstrate quantitative and qualitative skills, in order to make realistic business recommendations in complex scenarios. Business awareness will need to be demonstrated at strategic, operating and transactional levels.

You will be required to use technical knowledge and professional judgement to apply appropriate models and to analyse quantitative and qualitative data from multiple sources, including corporate reports, in order to evaluate alternatives and determine appropriate solutions.

The Strategic Business Management exam enables you to demonstrate quantitative and qualitative skills, to make realistic business recommendations in complex scenarios. The exam is 3.5 hours long and will consist of two questions. The exam is available in July and November. The exam is open book and will permit you to take any written or printed material into the exam.