Your Ultimate Guide to ACCA Exam Papers

If you’re preparing for the ACCA qualification, one of the most important aspects of your study journey is understanding the ACCA exam papers. This guide will walk you through everything you need to know, from the structure of ACCA exams, the different types of papers, how to approach them, to the best ways to prepare using mock exams and other resources.

Whether you are a new ACCA student or someone revisiting your exam strategy, this blog will be your ultimate reference for mastering ACCA exam papers.

What Are ACCA Exam Papers?

ACCA exam papers are the official assessments designed by the Association of Chartered Certified Accountants (ACCA) to evaluate your knowledge and skills across their extensive professional qualification syllabus. These papers test not only your understanding of accounting principles but also your ability to apply them in real-world business scenarios.

The ACCA qualification consists of multiple levels:

• Applied Knowledge
• Applied Skills
• Strategic Professional

Each level has its own set of exams, and each exam corresponds to an official exam paper that you must sit for during the exam session.

Types of ACCA Exam Papers

ACCA exam papers come in different formats depending on the level and subject. Here’s a breakdown:

1. Objective Test Papers (Multiple Choice)

• Mainly found at the Applied Knowledge and some Applied Skills levels.
• Consist of multiple-choice questions (MCQs), requiring you to select the best answer from given options.
• Time-efficient and designed to test your breadth of knowledge.

2. Constructed Response Papers (Written/Long-Form Answers)

• Found at the Applied Skills and Strategic Professional levels.
• These include case studies, calculations, written explanations, and scenario-based questions.
• They test your ability to apply knowledge, analyze situations, and communicate your understanding effectively.

3. Case Study Papers

• Typically found at the Strategic Professional level (e.g., Strategic Business Leader – SBL).
• These papers present a comprehensive business scenario.
• You must integrate knowledge across multiple disciplines and demonstrate professional skills such as ethics, leadership, and strategy.

Structure of ACCA Exam Papers

Understanding the structure of each exam paper is critical to managing your exam time and maximizing marks. Here’s a quick overview of typical paper structures:

Applied Knowledge Papers

• For example, Business and Technology – BT, Management Accounting – MA
• 2-hour objective test
• Usually around 50 questions

Applied Skills Papers

• Example: Financial Reporting – FR, Performance Management – PM)
• Mixture of objective tests and constructed response
• Usually 2 hours

Strategic Professional Papers

• Usually 3 hours or longer for SBL
• Case study or long-form question based

Detailed Overview of ACCA Exam Papers by Level

Strategic Professional Level

Strategic Business Leader (SBL)

The Strategic Business Leader (SBL) exam is a closed book exam, consisting of one compulsory section based on a case study with one question, lasting 4 hours and worth 100 marks, with 80 marks for technical knowledge and 20 professional marks. The case study is issued only on the day of the exam so you cannot prepare from material before that day.

You will receive in the region of 18 pages of information, such as annual reports and emails, media articles, spreadsheets, images and diagrams, presentations, survey results, interview transcripts etc. The SBL exam will assess your ability to integrate knowledge and apply knowledge and demonstrate leadership and professional skills applied in a real-life business context.

Advanced Audit and Assurance (AAA)

This paper presents you with the challenges faced by auditors professionally. You will be expected to recognize, analyze, and conclude regarding the assurance engagement and any other audit issue that arises, taking into account best practice and new developments.

The AAA syllabus links to Strategic Business Reporting (SBR), and ACCA recommends that you pass the SBR paper before presenting the AAA paper.

Advanced Taxation 19/20 (ATX)

The ATX exam provides insight into applying your professional judgement in arriving at tax consequences for business decisions affecting individuals and companies. Tax information can also be analyzed and interpreted with the advice based on your knowledge of taxation.

Advanced Performance Management (APM)

APM is the study of how to manage business performance with a view of its impact on the business over the long term. This paper builds on the initial exploration of topics covered in Management Accounting and Performance Management and into the more conceptual questions, as well as your critical awareness of some of the issues with performance measurement.

Advanced Financial Management (AFM)

AFM can be thought of as a level above Financial Management. At this level of study, emphasis is put on the interpretation, analysis, and professional judgement rather than the basic process for financial decision-making. More specifically, AFM provides an opportunity to address complex financial decisions such as valuing bonds in an increasing vs decreasing rate of interest environment.

Strategic Business Reporting (SBR)

This paper you will be taught to apply professional judgement in business reporting as it relates to the preparation of business reports and communicating reporting principles, including disclosures to the stakeholders of an organization. This paper requires a depth of understanding of corporate reporting frameworks.

Applied Skills Level

Financial Management (FM)

This paper covers a variety of topics related to financial Management such as financing and investment. This paper will satisfy the skills expected of you, as a finance manager in terms of financing, investment and dividend policy.

Audit & Assurance (AA)

The exam for this paper involves a large amount of practical knowledge and covers the following seven areas: the regulatory environment, ethics, reporting, practice management, audit planning, current issues in auditing and audit assignments.

Financial Reporting (FR)

This paper aims to apply financial accounting standards in recognising, measuring and disclosing in financial statement form (including group accounts) and providing the framework upon which all the student

Taxation 25/26 (TX)

Expands your knowledge of taxation related to companies, groups and individuals. The exam tests your knowledge with multiple choice questions and written questions to test your application of the relevant knowledge.

Performance Management (PM)

Covers the management of company performance in relation to aspects of costing, decision-making, budgeting and performance reporting.

Corporate and Business Law (LW-ENG)

This paper covers the legal framework affecting businesses, such as contracts, employment law, types of businesses/organisations, how a business can raise finance, the driver of how a company operates (administration, insolvency) and fraud.

Applied Knowledge Level

Management Accounting (MA)

An introduction to management accounting techniques used in business to support the decision-making process.

Financial Accounting (FA)

The paper covers practical aspects for a financial accountant such as double-entry bookkeeping and the accounting equation.

Accountant in Business (AB)

Provides a general view of the business environment and the role of accounting in that business environment. This knowledge area should also consider ethical and regulatory factors which can affect the functioning of accounting in the business environment.

How to Approach ACCA Exam Papers?

• Understanding the syllabus and exam format – Read the syllabus and exam guides for ACCA and the papers you are attempting. You need to identify the areas you need to focus on, and the weight of topics will allow you to make decisions on how to structure your study time.
• Practicing time management skills in timed practice – Practicing under timed conditions will allow you to develop the skill of managing the appropriate time per question and to also complete the exam in the allocated time.
• Familiarising and mastering command words – Be aware of what command words like “Explain”, “Calculate”, and “Evaluate” mean when you are providing your answers.

The Role of Mock Exams and Past Papers

Mock exams are crucial to familiarize yourself with exam style and timing, identify weak areas, and build confidence.

Tips for Using ACCA Exam Papers Effectively

• Start early and practice regularly.
• Simulate exam conditions.
• Review examiner reports and marking schemes.
• Focus on exam technique, not just content.

How Learnsignal Can Help You Prepare

LearnSignal offers video lectures, guided study plans, exam technique lessons, and mock exams that simulate ACCA exam papers to help you succeed.

Conclusion

This guide has provided a comprehensive overview of ACCA exam papers across all three key levels. Understanding each paper’s requirements and practicing diligently will give you a significant advantage on your ACCA journey.