ACCA FM Pass Rate 2026: Results by Sitting and What They Mean

ACCA Financial Management (FM) had a published pass rate of 48% at the June 2026 sitting, according to ACCA's pass rates page. The other sittings shown are 50% in March 2026, 48% in December 2025, 46% in September 2025 and 48% in June 2025. It is a three-hour numerical paper, and this page sets out the results by sitting, the format, the mistakes the examiners flag and how to prepare.

ACCA FM pass rate by sitting

ACCA's published figures for Financial Management range from 46% to 50% across the sittings shown, and the most recent, June 2026, was 48%. Across the nine Applied Knowledge and Applied Skills papers on ACCA's page, the June 2026 figures run from 41% for Performance Management to 89% for Business and Technology, so FM ranks 7 of 9 by June 2026 pass rate. For the full picture see our ACCA pass rates for 2026 and our ACCA pass rates by paper pages.

Two cautions apply to every number on this page. First, ACCA publishes these figures on its pass rates page without calling them global, and its footnote says only that they are the results achieved by students for paper-based and computer-based examinations, so we describe them as ACCA's published pass rates and not as a worldwide average. Second, a pass rate describes a group of candidates and not you: it moves with how well prepared the people sitting that session happened to be. ACCA's next set of results, for the September 2026 sitting, is due on 19 October 2026, and we will refresh this page when ACCA's pass rates page is updated. The pass mark for every ACCA exam is 50%.

FM exam format

FM is a three-hour computer-based exam, with ten minutes of reading time. It combines objective test questions with longer constructed response questions. We have not confirmed the exact mark split for the current guide, so check the FM study guide for the section structure. It is an Applied Skills paper with sittings in March, June, September and December.

What FM covers

FM covers the financial management function and the finance decisions a business makes. The main areas are the role and environment of financial management, working capital management, investment appraisal, business finance and its cost, business valuation and risk management, including exchange rate and interest rate risk. ACCA does not publish topic weightings, so cover the whole study guide.

Where candidates lose marks

The examining team's recent reports flag three areas. Candidates enter the wrong inputs when calculating the cost of capital, for example using the wrong value or the wrong tax adjustment. They confuse compound and simple interest. And they make errors in investment appraisal, which is a core area and one the long questions often test. All three are accuracy problems, so a checking routine helps more than extra theory.

How to prepare for FM

Build a checklist for each core calculation and apply it every time. For investment appraisal, list the cash flows by year before you discount, include tax and working capital only where the question tells you to, and sense-check the result. For cost of capital, write down the source of each input and whether it is pre-tax or post-tax. Practise the written parts too, because interpreting a result is worth marks in the long questions. Our guide to passing FM has a study plan. Leave time before the exam for at least two full timed attempts, and mark them strictly so that you can see which input errors you repeat.

What is changing for 2026-27

We could not confirm a specific change for FM for 2026-27. Check ACCA's syllabus and study guide changes page before you finalise your revision plan.

Frequently asked questions

What is the ACCA FM pass rate?

ACCA's published figure for Financial Management at the June 2026 sitting was 48%. Across the sittings shown on its page from June 2025 to June 2026 the range was 46% to 50%.

What is the pass mark for ACCA FM?

The pass mark is 50%, as it is for every ACCA exam.

Is FM a hard paper?

ACCA's published pass rate was 48% in June 2026, and the examiners flag accuracy errors in cost of capital and investment appraisal. Careful, repeated practice of the calculations helps most.

When are the next ACCA results?

ACCA's September 2026 results are due on 19 October 2026. The December 2026 Applied Skills exams run from 7 to 11 December 2026, with results due on 18 January 2027.

Next steps

Read our FM subject guide for the syllabus and our guide to passing FM for study technique, then check the wider ACCA courses and the Learnsignal ACCA tuition pages if you want structured support. If you are deciding what to sit next, our guides on the order to take your ACCA exams and how many ACCA exams to sit per sitting explain how to plan the sequence.

Source: ACCA pass rates page and ACCA study guides, checked October 2026.