If you're considering the ACCA qualification, one of the first questions you'll likely ask is, "How many ACCA papers are there?" While the answer is 13 papers, understanding how they're structured is what truly helps you plan your ACCA journey.
Whether you're a Class 12 student, a graduate, a CA aspirant, or a working professional exploring global finance qualifications, this guide explains every ACCA paper, its purpose, exam format, and how each one contributes to your career.
The ACCA qualification follows a step-by-step learning approach, with each level building on the knowledge gained in the previous one.
| Level | Number of Papers | Purpose |
|---|---|---|
| Applied Knowledge | 3 | Learn accounting and business fundamentals |
| Applied Skills | 6 | Develop technical accounting and finance expertise |
| Applied Skills | 4 | Apply strategic thinking and professional judgement |
If you've researched ACCA online, you've probably come across paper codes such as F1, F2, F3, P1, or P2. These belong to ACCA's older naming convention.
Today, ACCA uses the Applied Knowledge, Applied Skills, and Strategic Professional structure. While older resources may still refer to the previous codes, the syllabus has evolved, and it's best to follow the current paper names to avoid confusion.
Need Help Planning Your ACCA Journey?
From eligibility and exemptions to exam strategy, our experts will help you choose the right path.
The Applied Knowledge level introduces students to the fundamentals of accounting, business, and finance. These papers are ideal for beginners and establish the foundation required for higher-level studies.
A major advantage of this level is that all exams are on-demand computer-based tests (CBTs), meaning they can be taken throughout the year at approved ACCA exam centres. Students with relevant academic qualifications may also be eligible for exemptions.
Business and Technology introduces students to how organisations operate and the role finance professionals play in achieving business objectives.
Key topics include:
This paper develops commercial awareness and introduces the professional skills expected from accountants in modern organisations.
Management Accounting focuses on how financial information supports internal decision-making.
Students learn about:
Rather than preparing financial statements, this paper teaches students how businesses use numbers to improve performance and profitability.
Financial Accounting introduces the principles used to prepare financial statements.
Topics include:
This paper forms the foundation for Financial Reporting later in the qualification.
| Paper Code | Paper Name | Exam Format | Duration | Availability | Pass Mark | Exemptions |
|---|---|---|---|---|---|---|
| FA | Financial Accounting | Germany | 2 hours | Year-round | 50% | Available for eligible qualifications |
| BT | Business and Technology | On-demand CBE | 2 hours | Year-round | 50% | Available for eligible qualifications |
| MA | Management Accounting | On-demand CBE | 2 hours | Year-round | 50% | Available for eligible qualifications |
Become ACCA-Ready with Elance Learning
Master every paper with live classes, personalised mentoring, mock tests, and placement support.
After mastering the fundamentals, students move on to the Applied Skills level, where the focus shifts from learning concepts to applying them in practical business situations.
Unlike Applied Knowledge exams, these papers are session-based computer exams conducted four times a year—in March, June, September, and December.
This paper introduces the legal framework within which businesses operate.
Students study:
Understanding legal principles helps finance professionals make compliant business decisions.
Performance Management builds on Management Accounting by helping students analyse business performance and recommend improvements.
Topics include:
The emphasis shifts from calculations to interpreting financial data.
Taxation provides an understanding of how tax systems work and how businesses and individuals meet their tax obligations.
Students learn about:
Since tax laws vary across countries, ACCA offers different national variants for this paper.
Financial Reporting is often regarded as one of the most demanding Applied Skills papers because it builds extensively on Financial Accounting.
Students cover:
Strong conceptual understanding is essential, as this paper forms the basis for Strategic Business Reporting later in the qualification.
Audit and Assurance introduces students to the principles and processes involved in auditing financial information.
Key areas include:
Students also learn how auditors help maintain confidence in financial reporting.
Financial Management focuses on the financial decisions businesses make to maximise value.
Topics include:
The knowledge gained here is particularly valuable for careers in corporate finance and investment.
| Paper Code | Paper Name | Exam Format | Duration | Availability | Pass Mark |
|---|---|---|---|---|---|
| PM | Performance Management | Session-based CBE | 3 hours | March, June, September & December | 50% |
| FR | Financial Reporting | Session-based CBE | 3 hours | March, June, September & December | 50% |
| TX | Taxation | Session-based CBE | 3 hours | March, June, September & December | 50% |
| LW | Corporate and Business Law | Session-based CBE | 2 hours | March, June, September & December | 50% |
| AA | Audit and Assurance | Session-based CBE | 3 hours | March, June, September & December | 50% |
| FM | Financial Management | Session-based CBE | 3 hours | March, June, September & December | 50% |
Build a Global Finance Career with ACCA
We'll help you navigate every stage from your first paper to becoming an ACCA professional.
The Strategic Professional level is the final stage of the ACCA qualification. By this point, you're expected to move beyond technical knowledge and demonstrate strategic thinking, professional judgement, and the ability to solve complex business problems.
This level consists of four papers:
Strategic Business Leader is unlike any other ACCA exam. Instead of testing individual topics, it uses a single integrated case study that reflects real business scenarios.
You'll be expected to analyse information, identify problems, make recommendations, and communicate your ideas professionally.
Key areas include:
This paper also assesses communication and professional skills, making it one of the most practical exams in the qualification.
Strategic Business Reporting builds on the Financial Reporting paper and focuses on applying International Financial Reporting Standards (IFRS) in complex business situations.
Topics include:
Success in SBR requires more than technical accuracy—you'll need to justify your recommendations and evaluate different reporting approaches.
Students choose any two of the following four papers based on their interests and long-term career plans.
| Paper | Best Suited For | Career Opportunities |
|---|---|---|
| Advanced Audit and Assurance (AAA) | Audit, compliance and risk | External Auditor, Internal Auditor, Risk Consultant |
| Advanced Financial Management (AFM) | Corporate finance, treasury, investment | Financial Analyst, Treasury Manager, Investment Banking |
| Advanced Performance Management (APM) | Business strategy and consulting | Management Consultant, Business Analyst, Strategy Manager |
| Advanced Taxation (ATX) | Tax planning and advisory | Tax Consultant, Tax Manager |
Rather than selecting papers based on perceived difficulty, choose the ones that align with the work you want to do after qualifying.
Ready to Ace Every ACCA Paper?
Prepare smarter with expert-led coaching, strategic study plans, and continuous academic support.
Passing all 13 papers is a major milestone, but it doesn't automatically make you an ACCA member.
You'll also need to complete two additional requirements.
The Ethics and Professional Skills Module is an online learning programme designed to develop the professional behaviours employers expect from finance professionals.
It focuses on:
Many students complete EPSM before attempting the Strategic Professional exams, as it helps develop the skills assessed in papers like SBL.
To become an ACCA member, you'll also need to complete the Practical Experience Requirement (PER).
This includes:
The experience can often be gained before, during, or after your exams, making the qualification flexible for both students and working professionals.
If you've already studied accounting or finance, you may not need to sit all 13 papers.
ACCA offers exemptions based on previous qualifications, allowing eligible students to skip certain exams.
The best courses for ACCA exemptions include:
Depending on your academic background, you may receive up to nine exemptions. However, the exact number varies based on your university, course curriculum, and ACCA's exemption assessment.
Before registering, it's always worth checking your exemption eligibility through ACCA's official exemption calculator.
The ACCA qualification is designed to build your expertise step by step, from accounting fundamentals to strategic leadership. Understanding how the 13 papers fit together can help you plan your studies, choose the right options, and progress confidently toward a global career in accounting and finance.
At Elance Learning, we support students at every stage of their ACCA journey with expert faculty, structured learning, personalised mentoring, and exam-focused preparation. Whether you're starting after Class 12, pursuing ACCA alongside your degree, or transitioning from another qualification, our goal is to help you progress with confidence toward becoming an internationally recognised finance professional.
Let's Build Your ACCA Success Story
No matter where you're starting from, Elance Learning is here to guide you every step of the way.
There are 13 ACCA papers divided across three levels: Applied Knowledge (3), Applied Skills (6), and Strategic Professional (4). Students must also complete the Ethics and Professional Skills Module (EPSM) and the Practical Experience Requirement (PER) to become ACCA members.
Yes. Depending on your previous qualifications, you may receive exemptions from certain papers. ACCA awards exemptions after reviewing your academic background.
ACCA course duration varies based on the number of papers attempted each exam session and any exemptions received. Many students complete the qualification within two to four years.
The pass mark for every ACCA paper is 50%.
Yes. Unlike other papers that test individual topics, SBL uses a single integrated case study reflecting real business scenarios, requiring students to analyze information and make professional recommendations rather than answer standalone questions.
You need to choose 2 out of 4 optional papers — AFM, APM, ATX, or AAA — based on your career goals, in addition to the 2 compulsory Essentials papers (SBL and SBR).
PER requires 36 months of relevant work experience along with completion of ACCA's performance objectives under an approved supervisor. This can be completed before, during, or after your exams.
These are session-based computer exams offered four times a year — in March, June, September, and December — unlike Applied Knowledge exams, which are available on-demand year-round.
