SYLLABUS CHANGES FOR

ACCA QUALIFICATION EXAMS:

2021/22 – 2022/23

Guidance for students

You may previously have prepared for an exam under
the 2021/22 syllabus and are now preparing for that
same exam under the new 2022/23 syllabus, which
applies from September 2022 until June 2023*.

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.

ACCESS THE INTERACTIVE TABLE HERE

* 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 2022 to August 2023.
 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) NO – although the wording of some learning outcomes has been changed Access more info about the SBL learning outcome changes HERE

Advanced Financial Management (AFM) YES Access more info about the AFM syllabus changes 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

EXAM ARE THERE ANY SYLLABUS CHANGES? SUPPORTING RESOURCES

Corporate and Business Law (LW-ENG) NO Access LW-ENG ‘Essentials on one page’ HERE

Performance Management (PM) NO – although the wording of some learning outcomes has been changed Access more info about the PM learning outcome changes HERE

Taxation (TX-UK) N/A Access TX-UK ‘Essentials on one page’ HERE

Financial Reporting (FR) YES Access more info about the FR syllabus changes HERE

Audit and Assurance (AA) YES Access more info about the AA syllabus changes HERE

Financial Management (FM) YES Access more info about the FM syllabus changes HERE

Applied Knowledge

EXAM ARE THERE ANY SYLLABUS CHANGES? SUPPORTING RESOURCES

Business and Technology (BT) NO Access BT ‘Essentials on one page’ HERE

Management Accounting (MA) NO – although the wording of some learning outcomes has been changed Access more info about the MA learning outcome changes HERE

Financial Accounting (FA) NO Access FA ’Essentials on one page’ HERE

Strategic Business Reporting (SBR-INT) – guidance on learning outcome changes
What’s changing?
SECTION AND SUBJECT AREA
C1a), b) Revenue
C1 d) Revenue
C7 a) Provisions, contingencies and
events after the reporting date
D1 h) Group accounting including
statements of cash flows
D4 b) Foreign transactions and entities
E1 d) Analysis and interpretation of
financial information and
measurement of performance
F1 c) Discussion of solutions to current
issues in financial reporting
F1 d) Discussion of solutions to current
issues in financial reporting
F1 f) Discussion of solutions to current
issues in financial reporting
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:
For an overview of the SBR-INT exam and guidance on how to tackle it, access the SBR-INT ‘Essentials on one page’ resource here
SYLLABUS CONTENT
Removed reference to recognition model and five step model to
discourage rote learning although the underlying principles of each step
is still required.
Added consignment arrangements to be consistent with the FR syllabus
and ensure this is assumed knowledge.
Added onerous contracts for completeness.
Added ‘significant influence ‘ to ensure disposals of an interest in an
associate is adequately covered.
Account for the consolidation of foreign operations, including
subsidiaries, associates and joint arrangements and their disposal
This ensures that the three types of group entities are specifically
identified as examinable within an overseas and foreign exchange context.
Removed ‘how sustainability reporting is evolving and’ as ACCA feel this
space has moved on beyond ‘evolving’ and discussions would be
expected on its wider importance within business reporting.
Created bullet points to give more clarity to examples. Also amended to
reword as ‘reporting and disclosure implications’. Added climate change
and going concern assessments as further examples of current issues.
Removed ‘Presentation and disclosures’ as the Exposure Draft is no
longer listed within SBR Examinable Documents.
Added ‘Discuss developments in corporate reporting related to
sustainability reporting and sustainability standards.’ to give it an
appropriate prominence to reflect the current and rapidly changing
developments in this area.
What does this mean for me?
For the September 2022-June 2023 exam year, there have been few changes to the
syllabus. As detailed in syllabus area C, reference to the recognition model and five step
model has been removed but you are still required to understand the underlying principles
of each step. Also, in this area, onerous contracts have been added, and consignment
arrangements have been included as assumed knowledge from the FR exam.
Within syllabus section D1h) the learning outcome has been expanded to ensure disposals
of an interest in an associate is included. Syllabus section D4b) has also been expanded.
You should be able to demonstrate knowledge of consolidation of foreign operations
(including subsidiaries, associates and joint arrangements), and their disposal.
Learning outcome E1d) has been revised to reflect that discussions on sustainability
reporting would be expected within the wider context of business reporting.
Lastly, syllabus area F has been updated to add climate change, going concern
assessments, and discussion of developments in corporate reporting related to
sustainability reporting and sustainability standards, all of which are further examples of
current issues you should be able to discuss. ‘Presentation and disclosures’ such as the
Exposure Draft have removed (as this is no longer listed in the examinable documents).
Examinable documents for September 2022 to June 2023 can be found here
Recommended resources
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:
Climate-related disclosures and investor focus
The Sustainable Development Goals
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
ACCA Practice Platform.
n We strongly recommend you complete the Ethics and Professional Skills module
before attempting SBR.
How to approach the Strategic How to Tackling
prepare the exam
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. Advice from an Most frequently used SBR exam verbs:
Current issues, exposure drafts and narrative reporting frameworks also expert tutor
feature. Questions are set in the context of single entities, groups, private or
public sector, for-profit, or not-for-profit organisations. n Make use of ACCA resources
n Real life reading – eg real
To study SBR effectively you need to understand the nature of the exam and company financial statements
what you will be asked to do. DISCUSS EXPLAIN ADVISE
n Cover the syllabus widely – Read this article for more about exam verbs
breadth rather than depth
n Practice questions, and take
Question approach:
SBR – The Big Picture time to review your answers.
If you’re preparing for an SBR ✓ Analyse the requirements
CBE, visit this page for guidance
✓ Read the scenario carefully to understand
on how to approach question issues and any stakeholder perspective
Stakeholders
practice, including using the
In SBR, as in the workplace, new ACCA Practice Platform ✓ Identify relevant technical knowledge
you need to consider the n Remember – more than one standard
point of view of investors n Written aspects are very
Professionalism is may be relevant, and consider the
and other stakeholders. more than calculating important – don’t just practice
This means analysing and Ethics numbers. It means principles from the Conceptual Framework.
numbers
interpreting information, applying ethics
explaining how transactions and judgement to n Get used to planning and ✓ Apply this to the scenario
Judgement add value, taking n Don’t simply regurgitate everything
affect the financial writing clear answers.
a holistic view and
statements and other you can remember. Select relevant points
communicating
reports or explaining Professionalism professionally. and explain how they apply to the facts in
accounting treatments
and disclosures. the scenario
REPORTING Links to support n You may need to produce some
• financial and non-financial calculations as part of an explanation
• single entities, groups, for-profit, not-for-profit resources but numbers alone will not earn enough
Detailed marks to pass.
Knowledge New detailed n Examining team guidance
gained in knowledge knowledge
previous n Examiner’s reports
• standards
exams
• current development n Technical Articles
Writing a good answer
n How to approach Section B questions
Conceptual Framework – how to demonstrate
n Ethics and Professional Skills module
professionalism:
The Conceptual Framework underpins the whole syllabus. The better you know the n Read the mind of the marker – Part 1
Framework, the easier it is to learn the principles of each individual standard.
n Read the mind of the marker – Part 2 n Plan your answer
n Tutor video review of the March 2020 n Use headings and short paragraphs
exam n 
Consider the stakeholders – relevant
n Strategic Professional CBE support content and appropriate tone.
n FAQs
Strategic Business Leader (SBL) – guidance on learning outcome changes

What’s changing?
SECTION AND SUBJECT AREA SYLLABUS CONTENT
What does this mean for me?
G2 Financial analysis and b) Assess the suitability, feasibility and
Specific reference to decision-making techniques acceptability of alternative sources of For the September 2022-June 2023 exam year, there
ICO removed short and long term finance available to have been no changes to the syllabus for SBL, though the
the organisation to support strategy
wording of some learning outcomes has been revised – the
and operations.[3]
detail of these changes can be found in the table opposite.

H2 Enabling success: a) Identify and assess the potential impact

Specific reference to disruptive technology of disruptive technologies such as
block chain removed Fintech, including cryptocurrencies.[3]

ACCA Approved Content Recommended resources

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:
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 new ACCA Practice Platform.
n We strongly recommend you complete the Ethics and
Professional skills module before attempting SBL.

For an overview of the SBL exam and guidance on how to tackle it, access the SBL ‘Essentials on one page’ resource here
How to approach the Strategic How to earn Tackling
Business Leader (SBL) exam Professional Skills marks the exam
SBL is a 4 hour integrated case study which examines a breadth of
20% of the total marks will be allocated to Each task will specify an answer format,
organisational functions. It assesses not only technical and ethical
Professional Skills: for example:
skills but the professional skills expected of effective leaders and
advisers to senior management. n Read each requirement: n Prepare a briefing paper …
• Note the specified answer format (e.g. a memo) n Write a report for the board …
The rationale for the syllabus can be summarised as follows:
• Identify the professional skill (e.g. scepticism) and n Draft a letter …
n Leadership and governance
n Strategy requires an understanding of risk management recall the sub-skills (e.g. probe, question, challenge) A task may have more than one requirement,
n Technology and data analytics are transforming businesses • Read the prompt for how to demonstrate for example “evaluate… and recommend…”
n Organisational control includes internal audit (e.g. ‘by challenging the comments made at
n Financial aspects support decision making the emergency meeting’)
n Innovation, performance excellence and change management
n Bear this skill in mind as you: Most frequently used
are essential to organisational success.
• Read the requirement again SBL exam verbs:
• Actively read the relevant exhibit (e.g. transcript of
SBL – Integrating technical emergency meeting)
• Think about and plan your answer points
and professional skills
n When you prepare your answer:
The aim of the syllabus is to combine the main functions EVALUATE DISCUSS RECOMMEND
of organisations in the context of leadership capabilities. • Present it in the specified format
• Use suitable headings and subheadings Read this article for more
about exam verbs
Communication Commercial Acumen • Make only relevant points
• Avoid repetition
• Write clearly and concisely
Employability and Technology

A B C
• Keep your tone professional
Leadership Governance Strategy
Links to support
Analysis

You should complete the Ethics and Professional Skills

Module before attempting any of the Strategic resources
H Professional examinations.
Innovation,
D n Examining team guidance
performance
Risk
excellence and n The importance of effective communication
Tips for success
Evaluation

change management
n Professional Skills marking guide
in the SBL exam n How to approach the SBL exam
G E
F n Tutor video review of the March 2020 exam
Finance in Technology
Organisational
planning and
control and audit
and data ✓ Plan to study the syllabus content as quickly as possible n ACCA Practice Platform
decision-making analytics
✓ Start practicing case study questions as soon as possible. n Past exam questions and answers
If you’re preparing for an SBL CBE, visit this page
for guidance on how to approach question practice, n Examiner’s reports
Scepticism
including using the new ACCA Practice Platform. n Passing Strategic Professional exams
✓ Work on your professional skills from the outset n Strategic Professional CBE support

✓ Attempt each specimen and past exam in 4 hours n FAQs

and in full.
Advanced Financial Management (AFM) – guidance on syllabus changes

What’s changing?
SECTION AND SUBJECT AREA SYLLABUS CONTENT
What does this mean for me?
A3h) Assess and advise on the impact of investment and financing strategies Integrated reporting has been
and decisions on the organisation’s stakeholders, from a governance removed from the learning outcome. From September 2022, AFM will have 20 marks awarded for
perspective professional skills which are demonstrated throughout the exam. The
A6a) Determine a corporation’s dividend capacity and its policy given:[3] New outcome added to A6a) which exam duration will remain the same allowing you to more effectively
v) The organisational policy on the transfer pricing of goods and services replaces the previous A6c). manage your exam time to answer the 80 marks allocated for showing
across international borders mastery of your technical specialism.

B1a) Evaluate the potential value added to an organisation arising from a
specified capital investment project or portfolio using the net present
value (NPV) model.[3]
Project modelling should include explicit treatment and discussion of:
iii) Capital rationing. Multi-period capital rationing to be limited to
discussion only
B3a) Identify and assess the appropriateness of the range of sources of finance
available to an organisation including equity, debt, hybrids, lease finance,
venture capital, business angel finance, private equity, asset securitisation
and sale, Islamic finance and security token offerings. Including assessment
on the financial position, financial risk and the value of an organisation.
Outcome has been revised to make
clear that multi-period capital rationing
is only examinable through discussion.
Initial coin offering reference has been
changed to security token offering.
In addition to this, a new Black-Scholes Option Pricing model
spreadsheet template will be available to use in the exam. You will be
presented with a BSOP spreadsheet template only when it is required
to be used.
Aside from this, there have been few changes to the syllabus for AFM,
though minor changes have been made to some learning outcomes –
the detail of these changes can be found in the table opposite.

B4d) Explain the role of option pricing models, such as the BSOP model, in the Previous outcomes B4d) and e) have
assessment of the value of equity, the value of debt and of default risk been reduced into one outcome.

E1 d) Discuss the operations of the derivatives market, including:[3] Vega and rho removed from the list of
risks which are examinable.
Recommended resources
iv) Risks such as delta, gamma and theta, and how these can be managed.

F Professional skills This section has been added to reflect n Visit this page to find out more about the introduction of
the professional skills required for the professional skills marks to AFM.
AFM examination.
n We recommend you make use of all technical articles available
for AFM.
n The key to exam success is question practice. Visit this page for
ACCA Approved Content guidance on how to approach question practice for AFM, including
using the ACCA Practice Platform.
It’s vital to use up to date study materials when preparing
for your exam. ACCA’s Approved Content materials have n Watch this video to learn more about the Black-Scholes Option
been assessed by ACCA’s examining team to ensure they Price model spreadsheet template.
are of the very highest quality. To find out more, please n We strongly recommend you complete the Ethics and Professional
click on the logo links to the right: skills module before attempting AFM.

For an overview of the AFM exam and guidance on how to tackle it, access the AFM ‘Essentials on one page’ resource here
How to approach the Advanced Tips for success Tackling
Financial Management (AFM) exam in the AFM exam the exam
This is an advanced level exam which builds upon the knowledge ✓ The key to exam success is question Most frequently used AFM exam verbs:
and skills examined in Financial Management. You will be required to practice. Visit this page for guidance
on how to approach question
demonstrate your ability to:
practice, including using the ACCA
n Read and digest quickly, comprehensive and detailed questions Practice Platform
DISCUSS ESTIMATE EVALUATE
n Apply relevant knowledge and skills ✓ Break down requirements into all
constituent parts to ensure every Read this article for more about exam verbs
n Exercise the professional judgement expected of a senior part is answered
financial person n Considering both financial and
non-financial factors How to earn professional skills marks:
n Make recommendations or financial management decisions that are
likely to affect the entire business organisation ✓ Understand what matters to businesses The AFM exam has 20 marks for
and the viewpoints of stakeholders demonstrating professional skills
Like a senior financial person at work, you will be expected to read a who are interested in the subsequent
business brief and decide on a relevant methodical approach to meeting n Communication
decisions based on the discussion and Section A questions require briefing notes
the brief’s objectives, making notes where necessary. Senior managers evaluation asked for Use appropriate headings and sub-headings,
work under tight deadlines, and hence prioritising and managing your and clear, concise language
✓ Use the information provided in the
time is crucial to performing well under examination conditions. Ensure you answer the question asked!
question scenario
n 
Analysis and evaluation
✓ Communicate findings and Analysis or evaluation must be relevant to the
recommendations clearly and concisely organisation and their situation
with easy to follow numerical workings
AFM – A Senior Advisory Role supported, where appropriate, by n 
Scepticism
Have a questioning mindset that challenges
This strategic option exam is designed for candidates who work in or brief notes information, evidence and assumptions
have ambitions to specialise in financial management. It builds on the
✓ Appreciate that professional skills n 
Commercial acumen
assumed knowledge and demands advanced skills and techniques.
underpin good performance Demonstrate your understanding of what is appropriate
throughout the exam in different types of organisation and different contexts
Role of the Draw appropriate conclusions and make properly
senior financial adviser informed decisions which are appropriate to the scenario
in the multinational organisation Advice from the
examining team
Advanced investment
appraisal
Acquisitions
and mergers
Reconstruction and
re-organisation
Treasury and advanced
risk management
Links to support
n Supplement your studies with wider
reading
resources
Advanced Financial Management (AFM) n Be aware that more than one topic n Stepping up from FM n Past exam questions
area of the syllabus may be examined to AFM and answers
Investment Business Business Risk in a question n Examining team n Practice exams in the
appraisal finance valuations management
n Relate any discussion or evaluation to guidance Practice Platform
Financial Management (FM) the scenario in the question – context n Examiner’s reports n Tutor video review of
is very important n Passing Strategic the March 2020 exam
n Use your exam time effectively – good
 Professional exams n Guide to discursive
time management skills are essential n Professional skills requirements
marks n Strategic Professional
n Structure your answers – presentation

CBE support
is critical n Ethics and Professional
Skills module n FAQs
Advanced Performance Management (APM) – guidance on syllabus changes

What’s changing?
SECTION AND SUBJECT AREA SYLLABUS CONTENT
What does this mean for me?
A Strategic planning A1g – this is a new learning outcome to reflect the need to address risk as
and control part of strategic planning and control. From September 2022, APM will have 20 marks awarded for professional skills
A3c – this is a new learning outcome. which are demonstrated throughout the exam. The exam duration will remain
A5b – this learning outcome has been expanded on. the same allowing you to more effectively manage your exam time to answer
the 80 marks allocated for showing mastery of your technical specialism.
B Performance The overall syllabus section has changed designation from C to B. The old syllabus area B on risk has been removed with risk and uncertainty
management B1c – this is a new learning outcome. and risk appetites included in syllabus section A1g). Syllabus section A3c)
information systems
and developments B3b – this learning outcome has changed intellectual level from 2 to 3. has been added with the return of beyond budgeting. This is reflective of the
in technology B4c – this is a new learning outcome. need for organisations to control more than just financial performance and
B4d – this is a new learning outcome. can be linked to the requirement for organisations to give a wider view of
B4e – this is a new learning outcome. performance (A5b).
Syllabus section B1c) on data silos and their problems has been added. This
C Strategic performance The overall syllabus section has changed designation from D to C. is often the problem organisations are trying to deal with when looking at
measurement investing in new systems. In addition, B4 Data analytics has been expanded
to cover different methods of data analytics and the ethical implications of
D Performance evaluation The overall syllabus section has changed designation from E to D.
extensive data mining. You may be expected to discuss the application of
The title of the syllabus section has been changed to Performance evaluation. these methods to a scenario.
The syllabus area on corporate failure has been removed.

E Professional skills This section has been added to reflect the professional skills required for the
APM examination.
Recommended resources
n Visit this page to find out more about the introduction of professional skills
marks to APM.
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
ACCA Approved Content Improving your Advanced Performance Management answers – part 1
It’s vital to use up to date study materials when n The key to exam success is question practice. Visit this page for guidance
preparing for your exam. ACCA’s Approved on how to approach question practice for APM, including using the ACCA
Content materials have been assessed by Practice Platform.
ACCA’s examining team to ensure they are
of the very highest quality. To find out more, n We strongly recommend you complete the Ethics and Professional skills
please click on the logo links to the right: module before attempting APM.

For an overview of the APM exam and guidance on how to tackle it, access the APM ‘Essentials on one page’ resource here
How to approach the Advanced Advice from the Tackling
Performance Management (APM) exam examining team the exam
The APM syllabus has five capabilities which can be summarised as follows: n Remember that APM builds on PM Most frequently used APM exam verbs:
n Use strategic planning and control models knowledge by applying it in more
complex scenarios
n Assess the impact of risk and uncertainty
n Identify and evaluate design features of performance n Create information from the detailed
management systems data provided in the scenario ASSESS EVALUATE ADVISE
n Apply appropriate strategic performance measurement techniques n Add value to the organisation with Read this article for more about exam verbs
n Advise clients on strategic business performance evaluation comments relevant to the issues at hand
Most of these will feature to some extent in every exam session.
How to earn professional skills marks:
Tips for success
The APM exam has 20 marks for
in the APM exam demonstrating professional skills
APM – A Strategic View n Communication
✓ Visit this page for guidance on how to Section A questions require a report
The exam requires you to build on a good grasp of basic knowledge
Use appropriate headings and sub-headings,
and skills and show awareness that performance management approach question practice, including
and clear, concise language
depends on an organisation’s specific situation and environment. using the ACCA Practice Platform Answer the question asked!
✓ Understand the links between issues n 
Analysis and evaluation
Fulfil advisory role – add value at the strategic, tactical and Analysis or evaluation must be relevant to the
operational levels organisation and their situation
Create information from detailed data
✓ Understand in particular how the n 
Scepticism
Have a questioning mindset that challenges
choice of operational performance
NEW KNOWLEDGE NEW SKILLS information, evidence and assumptions
measures affects strategic performance
SWOT Porter BCG n 
Commercial acumen
Assess/Evaluate ✓ Be able to apply PM knowledge to Demonstrate your understanding of what is appropriate
PEST McKinsey’s 7Ss
Recommend more complex scenarios in different types of organisation and different contexts
BPR “the cloud” Draw appropriate conclusions and make properly
✓ Use any exhibit, information, model
Bu

Respond informed decisions which are appropriate to the scenario

or technique explicitly referred to in
ild

ls

Lean systems
il

Justify
a requirement
sk
on

EVATM Kaizen
on
kn

Advise
Six Sigma ✓ Interpret and further analyse data
Links to support
ow

ild

provided
Bu
edl

Performance
✓ Be selective in making calculations resources
ge

Management
✓ Assess alternative approaches from
Management different perspectives n Examining team n Ethics and Professional
Accounting guidance Skills module
✓ Justify advice using the evidence n Examiner’s reports n Past exam questions
given in the scenario n Reading the and answers
requirements for APM n Practice exams in the
✓ Quantify comments, where possible Practice Platform
n Technical articles
✓ Discuss commercial implications n Passing Strategic n Strategic Professional
Professional exams CBE support
n Professional skills marks n FAQs
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
ATX – ‘Think more – write less’
Heed this mantra from the examining team to improve
your performance.
Requirements are everything –
What have you been asked to do?
What do you not need to do?
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?
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
Tips for success
in the ATX exam
✓ 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)
Tackling the exam
Most frequently used ATX exam verbs:
PREPARE CALCULATE EXPLAIN
Read this article for more about exam verbs
These are not mutually exclusive, for example:
“Prepare the following notes and calculations…”
“Calculate … with supporting explanations …” and
“Explain … with supporting calculations …”
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:
Overall presentation of the requested format
n 
The approach taken to problem solving
n 
n Clarity of explanations and calculations

Relevant advice
n 
Effectiveness of communication
n 
Links to support
resources
n Technical articles including relevant Finance Act
n Examining team guidance
n Passing Strategic Professional exams
n How to earn professional marks
n Ethics and Professional Skills module
n Past exam questions and answers
n ACCA Practice Platform
n CBE preparation videos
Advanced Audit and Assurance (AAA-INT) – guidance on syllabus changes

What’s changing?
SECTION AND SUBJECT AREA SYLLABUS CONTENT
What does this mean for me?
C1) Quality management (firm and engagement level) Wording of learning
a) Explain the principles and purpose of quality management of audit and other outcomes amended to
reflect the requirements From September 2022, AAA will have 20 marks awarded for professional skills
assurance engagements.[1]
of ISA 220 (Revised 2020), which are demonstrated throughout the exam. The exam duration will remain
b) Describe the elements of a system of quality management relevant to a given firm. [2]
ISQM1 and ISQM2. the same allowing you to more effectively manage your exam time to answer
c) Evaluate the system of quality management which is in place for a given firm, including
the 80 marks allocated for showing mastery of your technical specialism.
the identification and impact of deficiencies, and assess if appropriate quality
management has been applied in a given engagement.[3] Aside from this, there have been no changes to the syllabus for AAA, though
the wording of some learning outcomes has been revised – the detail of these
E2e) e) Justify the review procedures which should be performed in a given assignment, Wording of learning
including the need for an engagement quality review and the appropriateness of outcome extended to
changes can be found in the table opposite.
the review performed, and recommend additional procedures or actions needed in reflect the new
the circumstances.[2] terminology in the quality Examinable documents for September 2022 to June 2023 can be found here
management standards.

F3b-d) F3. The audit of social, environmental, sustainability and integrated reporting Wording of syllabus
and b) Describe the difficulties in measuring and reporting on economic, environmental and section F3 and G2
G2d social and sustainability information and give examples of performance measures and extended to cover
sustainability indicators.[2] sustainability information
and reporting.
c) Describe substantive procedures to detect potential misstatements in respect of
socio-environmental and sustainability matters.[2]
d) Discuss the form and content of an independent verification statement of an
integrated report or sustainability information.[2] Recommended resources
G2d) Discuss current developments in emerging technologies, including big data and the
use of automated tools and techniques such as data analytics, and sustainability
reporting and the potential impact on the conduct of an audit and audit quality.[3] n Visit this page to find out more about the introduction of professional skills
marks to AAA.
H Professional Skills This section has been
added to reflect the n We recommend you make use of all technical articles available for AAA,
professional skills required but we would draw your attention to the following articles in particular:
for the AAA examination. Exam technique – Ethics
Exam technique – Risk
Exam technique – Accounting issues
Exam technique – Audit procedures
ACCA Approved Content Exam technique – Auditor reporting

It’s vital to use up to date study materials when preparing n The key to exam success is question practice. If you’re preparing for an
for your exam. ACCA’s Approved Content materials have AAA CBE, visit this page for guidance on how to approach question
been assessed by ACCA’s examining team to ensure they practice, including using the new ACCA Practice Platform.
are of the very highest quality. To find out more, please n We strongly recommend you complete the Ethics and Professional skills
click on the logo links to the right: module before attempting AAA.

For an overview of the AAA-INT exam and guidance on how to tackle it, access the AAA-INT ‘Essentials on one page’ resource here
How to approach the Advanced How to Tackling
Audit and Assurance (AAA) exam prepare the exam
AAA builds on the Audit and Assurance and Strategic Business Reporting Most frequently used AAA exam verbs:
(SBR) exams, by introducing more complex topics and covering the basic Advice from an
topics from different angles to reflect the challenges auditors will face in expert tutor
their professional life. Current issues, exposure drafts and developments in
audit including emerging technologies also feature. Questions are set in the n Make use of ACCA resources
EVALUATE EXPLAIN DISCUSS
context of single entities, groups and private or public sector organisations. n Cover the entire syllabus
Read this article for more about exam verbs
To prepare for AAA effectively you need to understand the nature of the n Learn how to apply and
exam and what you will be asked to do. use knowledge
Question approach:
n Practice planning questions, ✓ Analyse the wording of the requirements carefully
writing full answers and review
them thoroughly. Visit this
✓ Use the mark allocation to guide the length and
breadth of the answer you should plan
page for guidance on how to
AAA – The aim of the syllabus is to analyse, evaluate
and conclude on the assurance engagement and approach question practice, ✓ Read the first paragraph to understand the assignment
In Essence other audit and assurance issues in the context
of best practice and current developments.
including using the ACCA ✓ Invest time in active reading of the scenario
Practice Platform ✓ Identify relevant technical knowledge
n Wider reading, for example n Accounting as well as auditing
Audit and Assumed knowledge
of financial reporting news of current issues and ✓ Apply this to the scenario
Assurance –
Underpinning developments in auditing n Organise your planned points
knowledge
and skills n Check you have used all information and exhibits
before writing out your answer

Engagement
Links to
How to earn professional
support
skills marks:
Audit of
historical
Planning
Financial
resources The AAA exam has 20 marks for
financial Accounting n Examining team guidance demonstrating professional skills
statements
n Technical articles n Communication
Performance
Section A questions require briefing notes
n Passing Strategic Professional exams Use appropriate headings and sub-headings,
n Professional skills marks and clear, concise language
Completion Ensure you answer the question asked!
& Reporting n Ethics and Professional Skills module
n 
Analysis and evaluation
NEW
n Tutor video review of March Analysis or evaluation must be relevant to the
detailed 2020 exam organisation and their situation
knowledge
Topical issues n Past exam questions and answers
affecting the
n 
Scepticism and judgement
profession n Practice exams in the Demonstrate your professional judgement by
Practice Platform prioritising risks based on the situation

n Examiner’s reports n 
Commercial acumen
Assess business risks affecting the client and the
n Strategic Professional CBE support impact of the engagement on the audit firm
n FAQs
 How to approach Corporate and Business Law (LW-ENG)

What is LW about? Steps to Tackling

Corporate and Business Law develops a core level of success the exam
knowledge and skills around a general legal framework in
the context of business. ✓ If possible, study with an Approved Section A (70 marks)
Learning Partner and use Approved 25 objective test (OT) questions,
n 
Learning Content each worth 2 marks
✓ Study the whole syllabus 20 objective test (OT) questions,
n 
LW: An overview ✓ Practice exam standard questions, each worth 1 mark
LW recognises that candidates are potential accountants, rather than potential lawyers. The aim to time, including the Specimen
is to develop knowledge and skills in the understanding of the general legal framework, specific Exam and Practice Tests
Tips for answering
business areas and when to seek specialist legal advice where necessary.
✓ Ensure you are competent OT questions
working in the Computer Based ✓ Read the question carefully
Exam environment
Essential elements of the UK legal system ✓ Think before answering, don’t rush!
including the court system and sources of law ✓ Attempt at least two full exams ✓ If not sure, eliminate other answers
under exam conditions, debrief to help find the correct answer
your answers, then focus your study ✓ Answer all questions even if unsure
on weaker areas of the answer
✓ Book your CBE exam in advance at
The Law of Law relating to Formation and constitutions of business one of the on-demand CBE centres
obligations Employment organisations (Agency, partnerships,
Section B (30 marks)
(contract (contract corporations and formation of companies) Five six-mark multi-task questions,
n 
and Tort) dismissal and each containing a scenario and a series
redundancy)
of related tasks
Key
resources Tips for answering
multi-task questions
Capital Management, Legal
and the administration implications Links to key resources: ✓ Read and ensure you
financing of and regulation relating to
n Examining team guidance understand the scenario
companies of companies Insolvency Law
✓ Read the questions carefully
n Specimen exam
✓ Think before answering, don’t rush!
n Practice tests
✓ Answer all questions even if unsure
n Technical articles of the answer
n Preparing for on-demand CBEs ✓ Attempt exam standard questions
as possible along with the practice
Develop an understanding of Corporate fraudulent and criminal behaviour n How to book an on-demand exam
(money laundering, bribery, market abuse, management fraud) tests and specimen exam
n On demand centre list
Performance Management (PM) – guidance on learning outcome changes

What’s changing?
SECTION AND SUBJECT AREA SYLLABUS CONTENT
What does this mean for me?
C4 Pricing decisions C4d has been reworded to change
organisation to product. For the September 2022-June 2023 exam year, there
have been no changes to the syllabus for PM, though the
E3 Performance analysis in E3b and c have been reworded to wording of some learning outcomes has been revised – the
not-for-profit organisations specifically include not-for-profit detail of these changes can be found in the table opposite.
and the public sector organisations and the public sector.

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:
Recommended resources
n We recommend you make use of all technical articles
available for PM, but we would draw your attention to
the following article in particular:
Read the mind of the marker
n Our PM examiner reports are an essential study
resource, and the latest reports include published section
A questions, giving you even more insight into what the
examiner is looking for.
n The key to exam success is question practice. If you’re
preparing for a PM CBE, visit this page for guidance on
how to approach question practice, including using the
new ACCA Practice Platform.

For an overview of the PM exam and guidance on how to tackle it, access the PM ‘Essentials on one page’ resource here
 How to approach Performance Management (PM)
What is PM about? Steps to
Performance Management provides you with the skills required success
to apply management accounting techniques to information for
planning, decision-making, performance evaluation and control. ✓ If possible, study with an
Approved Learning Partner
and use Approved Content
✓ Study the whole syllabus
PM: An overview ✓ 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
Cost and
management ✓ Develop your skills in answering
constructed response questions
accounting
✓ Attempt at least two full exams
techniques
under exam conditions, debrief
INFORMATION, PERFORMANCE your answers, then focus your
revision on weaker areas
TECHNOLOGIES MEASUREMENT
AND SYSTEMS AND CONTROL
Decision-
making
techniques
Key
resources
n Examiner approach
n Objective test questions for
session CBEs
Budgeting
n Guide to session CBEs
techniques,
n Approaching PM constructed
planning and response questions
control
n Read the mind of a PM marker
n Examining team guidance
n ACCA Practice Platform
n Information systems
n Big data
Tackling
the exam
Section A (30 marks)
15 objective test (OT) questions,
n 
each worth 2 marks
Section B (30 marks)
Three OT cases with five OT questions
n 
worth 2 marks each, 10 marks per case
Tips for answering
OT questions
✓ Read the question and
scenario carefully
✓ Adhere to the rounding instructions
for “Fill in the Blank” questions
✓ Answer all questions
Section C (40 marks)
Two scenarios which relate to one
n 
or more requirement(s)
Tips for answering
Section C questions
✓ 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
 How to approach Taxation (TX-UK)

What is TX about? Steps to Tackling

Taxation provides you with the skills required to compute success the exam
tax liabilities and apply basic tax planning techniques for
individuals and companies. ✓ If possible, study with an Section A (30 marks)
Approved Learning Partner 15 objective test (OT) questions,
n 
and use Approved Content each worth 2 marks

✓ Study the whole syllabus Section B (30 marks)

TX: An overview
Three OT cases with five OT questions
n 
✓ Practice exam style and standard
questions, to time, using the worth 2 marks each, 10 marks per case
The UK tax system, the obligations of tax payers ACCA Practice Platform
and the implications of non-compliance ✓ Develop your skills in answering Tips for answering
constructed response questions OT questions
✓ Practice using CBE functionality ✓ Read the question and
appropriately scenario carefully
✓ Adhere to the rounding instructions

Individuals Companies ✓ Attempt at least two full exams for “Fill in the Blank” questions
under exam conditions, debrief
✓ Answer all questions

your answers, then focus your
revision on weaker areas
Income tax Corporation Section C (40 marks)
Value added tax
liabilities tax liabilities: Three scenarios which typically relate
n 
• individual to three requirements

NIC on:
companies Key
• groups of Tips for answering
• employees companies resources Section C questions
• employers
✓ Allocate 27 minutes to each
• self-employed n Technical articles including the 15 mark question (18 minutes
relevant Finance Act to the 10-mark question)
n Examiner’s approach ✓  Always read the requirement(s) first
Chargeable n Objective test questions for ✓  Focus on a well-structured layout
gains arising session CBEs ✓  Present all workings – do not simply
n Guide to session CBEs “plug” results of calculations
n Higher skills ✓ Make clear statements for narrative

Inheritance tax answers and avoid repetition
n Examining team guidance
liabilities ✓ Attempt all requirements

n ACCA Practice Platform
Financial Reporting (FR) – guidance on syllabus changes

What’s changing?
SECTION, SUBJECT AREA AND SYLLABUS CONTENT RATIONALE
What does this mean for me?
D2 In the past, the FR examining team have accepted a simplified approach to accounting for This approach is
intercompany transactions between a parent company and its associate whereby credit would be more technically For the September 2022-June 2023 exam year, there have been few changes
awarded for recording the same adjusting journal entries regardless of whether the transaction accurate and
was upstream (i.e. associate sells to parent) or downstream (i.e. parent sells to associate). candidates to the syllabus. As detailed in syllabus section D2, within the preparation of
should be able to consolidated financial statements for a simple group, you may be required
From September 2022, the FR examining team will expect that a distinction is made between
upstream and downstream transactions with the following adjusting journal entries required for demonstrate the to understand the distinction made between upstream and downstream
an intercompany sale of inventories between a parent and its associate: application of transactions required for an intercompany sale of inventories between a
this knowledge.
Upstream: Downstream: parent and its associate.
Dr Share of profits of associate Dr Cost of sales
Cr Inventories Cr Investment in associate Syllabus section B10f) aims to ensure consistency with the requirements of
IFRS 15. For contracts where performance obligations are satisfied over a
B10 (f) The FR examining team are aware that in recent years some candidates and learning providers To ensure period of time, the stage of completion is required to calculate how much
have continued to use the accounting requirements of IAS® 11 Construction Contracts rather consistency with
revenue should be recognised to date. There is no requirement to calculate
than the requirements of IFRS 15 Revenue from Contracts with Customers when calculating the requirements
contract assets and contract liabilities. of IFRS 15. the estimated profit/loss on the contract (except to the extent of determining
Credit has been given for both approaches in the past.
whether the contract is onerous). For the purposes of the FR exam, any
costs incurred to fulfil a contract with a customer should be expensed to the
Calculating the contract asset or contract liability under IFRS 15 should be as follows:
statement of profit or loss as they are incurred. Use of IAS 11 will no longer
$
Revenue recognised to date X be awarded credit.
Less: Amounts invoiced to date (X)
Contract asset/(liability) X/(X)
Examinable documents for September 2022 to June 2023 can be found here
For contracts where performance obligations are satisfied over a period of time, the stage of
completion is required to calculate how much revenue should be recognised to date. There is no
requirement to calculate the estimated profit/loss on the contract (except to the extent of
determining whether the contract is onerous).
For the purposes of the FR exam, any costs incurred to fulfil a contract with a customer should
be expensed to the statement of profit or loss as they are incurred.
From September 2022, credit will only be awarded to candidates who adopt the correct IFRS 15
approach outlined above. Use of IAS 11 will not be awarded credit in the exam.
Recommended resources
n We recommend you make use of all technical articles available for FR,
particularly those for syllabus section C.

ACCA Approved Content n Our FR examiner reports are an essential study resource, and the latest
reports include published section A questions, giving you even more
It’s vital to use up to date study materials when preparing insight into what the examiner is looking for.
for your exam. ACCA’s Approved Content materials have
been assessed by ACCA’s examining team to ensure they n The key to exam success is question practice. If you’re preparing for an FR
are of the very highest quality. To find out more, please CBE, visit this page for guidance on how to approach question practice,
click on the logo links to the right: including using the new ACCA Practice Platform.

For an overview of the FR exam and guidance on how to tackle it, access the FR ‘Essentials on one page’ resource here
 How to approach Financial Reporting (FR)

What is FR about? Steps to Tackling

Financial Reporting provides you with the skills required to success the exam
apply accounting standards and the conceptual framework ✓ If possible, study with an Section A (30 marks)
in the preparation of financial statements and how to analyse Approved Learning Partner 15 objective test (OT) questions,
n 
and interpret those financial statements. and use Approved Content each worth 2 marks
✓ Study the whole syllabus
✓ Ensure you understand theories
Section B (30 marks)
and techniques rather than just Three OT cases with five OT questions
n 
focus on how to do the calculations worth 2 marks each, 10 marks per case
FR: An overview
✓ Practice exam style and standard

questions, to time, using the
Tips for answering
ACCA Practice Platform
OT questions
✓ Develop your skills in answering
Accounting for constructed response questions ✓ Read the question carefully
transactions ✓ Attempt at least two full exams ✓ Adhere to the rounding instructions
in financial under exam conditions, debrief for “Fill in the Blank” questions
statements your answers, then focus your ✓ Answer all questions
revision on weaker areas
THE CONCEPTUAL
ANALYSIS AND
AND REGULATORY Section C (40 marks)
INTERPRETATION
FRAMEWORK Two scenarios which relate to one
n 
Key or more requirement(s)
Preparing
single entity resources
financial Tips for answering
n Examiner approach
statements Section C questions
n Objective test questions for session
CBEs ✓ Be strict in allocating 36 minutes to
n Guide to session CBEs each question
OF FINANCIAL
FOR FINANCIAL n How to approach performance ✓  Always read the requirement(s) first
STATEMENTS appraisal questions ✓ Present all workings – do not simply

REPORTING
Preparing “plug” results of calculations
n Read the mind of an FR marker
consolidated ✓  Structure narrative answers around
n Examining team guidance
financial an answer plan
n ACCA Practice Platform
statements ✓  Use headings, make clear
n Analysing a statement of cash flows
statements and avoid repetition
n Tell me a story
✓  Always include a conclusion on the
n Revenue revisited analysis discussion
n Financial instruments ✓  Attempt all requirements
n Examinable documents
Audit and Assurance (AA) – guidance on syllabus changes

What’s changing?
SECTION AND SUBJECT AREA
Planning and risk assessment B1e and B1f
Wording of learning outcomes extended
and revised to reflect the new terminology
of ISA 220 (Revised 2020)
SYLLABUS CONTENT
What does this mean for me?
B Planning and risk assessment
1. Obtaining, accepting and continuing audit For the September 2022-June 2022 exam year, there are no significant
engagements changes to the syllabus. Please note that some learning outcomes have
e) Explain the overall objectives and importance been updated to reflect ISA 220 (revised 2020). These are detailed in the
of quality management procedures in table to the left.
conducting an audit.[2]
f) Explain the quality management procedures
which should be in place over engagement Examinable documents for September 2022 to June 2023 can be found here
resources, engagement performance,
monitoring and remediation and compliance
with ethical requirements.[2]

Planning and risk assessment B1g Learning
outcome added to better reflect the
requirements of ISA 220 (Revised 2020)
B Planning and risk assessment
1. Obtaining, accepting and continuing audit
engagements
g) Evaluate quality management deficiencies and
provide recommendations to allow compliance
with quality management requirements.[2]

ACCA Approved Content Recommended resources

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:
n We recommend you make use of all technical articles available for AA.
n Our AA examiner reports are an essential study resource, and the
latest reports include published section A questions, giving you even
more insight into what the examiner is looking for.
n The key to exam success is question practice. If you’re preparing for
an AA CBE, visit this page for guidance on how to approach question
practice, including using the new ACCA Practice Platform.

For an overview of the AA exam and guidance on how to tackle it, access the AA ‘Essentials on one page’ resource here
 How to approach Audit and Assurance (AA)

What is AA about? Steps to Tackling

Audit and Assurance provides you with an understanding of success the exam
the knowledge and application skills required to carry out an
audit engagement. ✓ If possible, study with an Approved Section A (30 marks)
Learning Partner and use Approved
Content Three OT cases with five OT questions
n 
worth 2 marks each, 10 marks per case
✓ Study the whole syllabus and ensure your
AA: An overview knowledge of ISAs and relevant financial
accounting is at an appropriate level
Tips for answering
Accept audit engagement ✓ Practice exam style and standard
questions, to time, using the ACCA
OT questions
Practice Platform ✓ Read each question carefully
Understand the entity and its environment ✓ Develop your ability to construct ✓ Think before answering
effective written response answers
✓ 
If unsure, eliminate incorrect answers
✓ Carefully review how correct answers to
OT questions were derived ✓ Answer all questions
Assess the risk of material misstatement
✓ Develop your skills in providing effective
narrative answers
✓ Attempt at least two full exams under Section B (70 marks)
Effective exam conditions, debrief your answers,
YES controls NO Three scenarios with two or more
n 
then focus your revision on weaker areas
expected? requirements

Tips for answering

Tests of controls Unsatisfactory
Communicate
deficiencies
Key Section B questions
resources ✓ Read each requirement carefully
Satisfactory to understand what is asked for
n Examiner approach
✓ 
Draw on the scenario to plan the
n Objective test questions for session CBEs points you need to make
Reduced substantive Full substantive n Guide to session CBEs
procedures procedures ✓ Use concise headings
n Answering audit risk questions
✓ Make clear and concise points
n Read the mind of the AA marker
specific to the given scenario
n Examining team guidance
Report to n ACCA Practice Platform ✓ Describe “how” procedures should
Final review be performed
management n Going concern
n The auditor’s report ✓ Do not give rote-learnt answer points
n The audit of assertions ✓ Attempt all requirements
Auditor’s report
n Examinable documents
Financial Management (FM) – guidance on syllabus changes

What’s changing?
SECTION, SUBJECT AREA AND SYLLABUS CONTENT
B2e Explain the impact of Fintech in changing the
nature and role of financial markets and institutions.
C3b Evaluate and discuss the key factors in determining
working capital funding strategies, including:
i) the distinction between permanent and
fluctuating current assets
ii) the relative cost and risk of short-term and
long-term finance
iii) the matching principle
iv) the relative costs and benefits of aggressive,
conservative and matching funding policies
v) management attitudes to risk, previous funding
decisions and organisation size.
RATIONALE
New outcome added to incorporate
the impact of Fintech on the
Financial Management environment.
Initial verb amended to evaluate to
be clear that calculations can be
tested in this area.
What does this mean for me?
For the September 2022-June 2023 exam year, there have
been few changes to the syllabus. As detailed in syllabus
section B2e), you may be required to explain the impact
of Fintech in changing the nature and role of financial
markets and institutions. This may include discussing
disintermediation, the availability of credit, or a potential
source of finance (e.g. security token offering).
In addition to this, syllabus section C3b) has been updated
to make clear that calculations may be required e.g. in
calculating the relative cost and risk of short-term and
long-term finance, or the relative costs and benefits of
aggressive, conservative and matching funding policies.

ACCA Approved Content Recommended resources

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:
n We recommend you make use of all technical articles
available for FM.
n Our FM examiner reports are an essential study
resource, and the latest reports include published section
A questions, giving you even more insight into what the
examiner is looking for.
n The key to exam success is question practice. If you’re
preparing for an FM CBE, visit this page for guidance on
how to approach question practice, including using the
new ACCA Practice Platform.

For an overview of the FM exam and guidance on how to tackle it, access the FM ‘Essentials on one page’ resource here
 How to approach Financial Management (FM)

What is FM about? Steps to Tackling

Financial Management provides you with the skills required success the exam
to effectively manage the finance function of an organisation.
✓ If possible, study with an Section A (30 marks)
Approved Learning Partner
and with Approved Content 15 objective test (OT) questions,
n 
each worth 2 marks
✓ Study the whole syllabus
FM: An overview ✓ Practice exam style and standard Section B (30 marks)
questions, to time, using the
ACCA Practice Platform Three OT cases, each containing
n 
CORPORATE OBJECTIVES AND STAKEHOLDER OBJECTIVES a scenario with five OT questions worth
✓ Develop your ability to construct 2 marks each, 10 marks per case
effective written response answers

Financial
Approaches ✓ Ensure you are competent
to risk working in the Computer Based
objectives Tips for answering
management Exam environment
OT questions
✓ Attempt at least two full exams
✓ Read the question carefully
R under exam conditions, debrief
K Working Foreign I your answers, then focus your ✓ Think before answering, don’t rush!
E capital exchange S study on weaker areas ✓ 
Answer all questions even if unsure
management risk of the answer
Y K

D M
E
Business
Effective Foreign A Key Section C (40 marks)
C finance exchange N
I
finance
manager hedging A resources Two scenarios which relate to one
n 
or more requirement(s)
S G
I E n Examiner approach
O M n Objective test questions for
Interest Tips for answering
Investment session CBEs
N rate E
appraisal Section C questions
S hedging N n Guide to session CBEs
T n How to approach discursive ✓ 
Plan your answer
questions in FM ✓ 
Answer the requirement directly
n Examining team guidance ✓ Refer to the scenario
Business Interest
valuations rate risk n ACCA Practice Platform ✓ Break your answer up with headings
n Working capital management ✓ Be clear and concise, but ensure you
n Dividend theory develop each point in your answer
n Inflation and investment appraisal ✓ Attempt all parts of all questions
THE ECONOMIC ENVIRONMENT FOR BUSINESS
n Read the mind of the FM marker
 How to approach Business and Technology (BT)

What is BT about? Steps to

Tackling the exam
Business and Technology (BT) is concerned with ensuring
that businesses operate efficiently, effectively and ethically.
success
✓ If possible, study with an Approved Section A (76 marks)
Learning Partner and use Approved 46 objective test (OT) questions, each worth
n 
Learning Content 1 or 2 marks
BT: An overview ✓ Study the whole syllabus There will be 16 one-mark and 30 two-mark
n 
Business and Technology is a gateway paper which covers many topics but on a questions.
✓ Practice exam standard questions,
relatively shallow level. It is important not to drill down too deeply in any given
to time, including the Specimen
topic, so you can spread your time on individual topics evenly.
Exam and Practice Tests Tips for answering
OT questions
✓ Ensure you are competent working
The purpose and type of business organisation,
in the Computer Based Exam ✓ Read the question carefully
who are the stakeholders and how does the business
interact with the external environment environment ✓ Think before answering, don’t rush!
✓ If not sure, eliminate other answers to
✓ Attempt at least two full exams
help find the correct answer
under exam conditions, debrief
your answers, then focus your study ✓ Answer all questions even if unsure of
the answer
Understand the business on weaker areas
organisational structure, the functions
and the role of corporate governance
✓ Book your CBE exam in advance at
one of the on-demand CBE centres Section B (24 marks)
There will be six multi-task questions (MTQ) in
n 
part B of the paper, each worth four marks. There
Leading
and are six syllabus areas and there will be one MTQ
Recognise the functions of accounting on each of them. Each MTQ will be specific to a
and reporting systems and technology.
managing
individuals Key syllabus area, with no crossover between the six
Understand compliance, controls and security
and teams
resources generic parts of the syllabus.

Links to key resources:

Tips for answering
Understand personal effectiveness n Examining team guidance multi-task questions
and communication within the teams n Specimen exam ✓ Read and ensure you
and across the organisation
understand the scenario
n Practice tests
✓ Read the questions carefully
n Technical articles
✓ Think before answering, don’t rush!
n Preparing for on-demand CBEs
What are the expected values and professional ✓ Answer all questions even if unsure of
n How to book an on-demand exam the answer
ethics in accounting and business?
n On demand centre list
Management Accounting (MA) – guidance on learning outcome changes

What’s changing?
SECTION AND SUBJECT AREA SYLLABUS CONTENT
What does this mean for me?
B3 Summarising analysing data B3c has been reworded to change
analytics to data analytics. For the September 2022-August 2023 exam year, there
have been no changes to the syllabus for MA, though the
D4 Capital budgeting and discounted cash flows D4b has been reworded to change capital wording of some learning outcomes has been revised – the
and revenue expenditure to asset and detail of these changes can be found in the table opposite.
expense items.

ACCA Approved Content Recommended resources

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:
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 an overview of the MA exam and guidance on how to tackle it, access the MA ‘Essentials on one page’ resource here
 How to approach Management Accounting (MA)
What is MA about? Steps to
Management Accounting introduces the elements of success
management accounting which are used to support
decision-making in an organisation. ✓ If possible, study with an Approved
Learning Partner and with
Approved Learning Content
✓ Study the whole syllabus
MA: An overview
✓ Practice exam standard questions,
Management accounting (MA) aims to develop knowledge and understanding of management to time, including the Specimen
accounting techniques to support management in planning, controlling and monitoring business Exam and Practice Tests
performance. This knowledge is then the platform to develop further in the skills and professional
✓ Ensure you are competent working
exams, PM, APM and SBL.
in the Computer Based Exam
environment
Explain the nature, source and purpose of management information
✓ Attempt at least two full exams
under exam conditions, debrief
your answers, then focus your study
on weaker areas
Data analysis and statistical techniques
✓ Book your CBE exam in advance at
one of the on demand CBE centres
Prepare budgets for
planning and control Key
resources
Explain Links to key resources:
and apply
cost n Examining team guidance
Actual costs v Standard costs
accounting n Specimen exam
techniques
n Practice tests
n Technical articles
n Preparing for on-demand CBEs
Performance measurements and n How to book an on demand exam
monitor business performance
n On demand centre list
Tackling
the exam
Section A (70 marks)
35 objective test (OT) questions,
n 
each worth 2 marks
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
to help find the correct answer
✓ Answer all questions even if unsure
of the answer
Section B (30 marks)
There will be 3 MTQ’s in this section
n 
each worth 10 marks. Each MTQ will
examine budgeting, standard costing and
performance management syllabus areas.
Tips for answering
multi-task questions
✓ Read and ensure you
understand the scenario
✓ 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
 How to approach Financial Accounting (FA)
What is FA about? Steps to
Financial Accounting introduces the fundamentals of preparing success
financial accounts, the regulatory framework around financial
statements and the qualitive characteristics of useful financial ✓ If possible, study with an Approved
information. It covers the recording of transactions through to Learning Partner and with
the preparation of the financial statements. Approved Learning Content
✓ Study the whole syllabus
✓ Practice exam standard questions,
to time, including the Specimen
Exam and Practice Tests
FA: An overview
✓ Ensure you are competent working
Financial Accounting (FA) aims to develop knowledge and understanding of the basic principles
in the Computer Based Exam
and concepts of financial accounting. It also provides the technical skills for using double-entry
environment
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. ✓ Attempt at least two full exams
under exam conditions, debrief
your answers, then focus your study
The context The qualitive on weaker areas
Recording
and purpose characteristics
of Financial of financial
transactions ✓ Book your CBE exam in advance at
and events
Reporting information one of the on demand CBE centres
Key
Demonstrate the use of double-entry resources
and accounting systems
Links to key resources:
n Examining team guidance
n Specimen exam
n Practice tests
n Technical articles
Prepare a trial balance
n Preparing for on-demand CBEs
n How to book an on-demand exam
n On demand centre list
Tackling
the exam
Section A (70 marks)
35 objective test (OT) questions,
n 
each worth 2 marks
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
to help find the correct answer
✓ Answer all questions even if unsure
of the answer
Section B (30 marks)
There will be 2 multi-task questions (MTQ)
n 
in this section each worth 15 marks. Each
MTQ will be specific to a syllabus area.
Tips for answering
multi-task questions
✓ Read and ensure you
understand the scenario
✓ 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