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ACCA Fundamentals – Applied Skills
Course Code
EXP038
Work towards your ACCA qualification and membership with this ACCA Fundamentals Applied Skills package.
- Start working towards a prestigious qualification that is respected globally thanks to their reputation for excellence with this ACCA Fundamentals Applied Skills qualification which consists of six modules.
- Stand out to potential employers and demonstrate your technical skills, strategic thinking, and commitment to your career.
- Take advantage of the ACCA's dedicated 24-hour support service if you have any questions or need advice during your studies.
Course overview
This ACCA Fundamentals Applied Skills qualification has been designed to build on your existing knowledge to further develop your practical finance skills.
To achieve the full ACCA membership qualification you will need to complete the exams for modules included in this course, the ACCA Fundamentals Applied Knowledge modules, and the Strategic Professional modules, as well as three years’ work experience and an ethics module. This course is made up of the following six modules which you can also study on their own:
- ACCA LW F4 Corporate and Business Law
- ACCA PM F5 Performance Management
- ACCA TX F6 Taxation
- ACCA FR F7 Financial Reporting
- ACCA AA F8 Audit and Assurance
- ACCA FM F9 Financial Management
Read our guide to the ACCA course and modules.
Course Duration
Varies depending on enrolment date.
Course Outcome
Once you have successfully completed your exams and the Ethics and Professional Skills module, you will receive an ACCA Advanced Diploma in Accounting and Business (RQF Level 4).
Entry Requirements
In order to study this course, you must have completed one of the following: - ACCA Applied Knowledge exams - ACCA Diploma in Accounting and Business (RQF Level 4) - Relevant accounting or finance qualification at degree level Proof of these qualifications must be provided when registering with ACCA as a student.
Assessment
A mixture of progress tests and mock exams to prepare you for your exams. You will need to sit the ACCA exams at the end of your modules to pass and continue working towards your qualification.
Course content
ACCA Audit and Assurance Module – ACCA AA F8
- The concept of audit and other assurance engagements
- External audits
- Corporate governance
- Professional ethics and ACCA's Code of Ethics and Conduct
- Obtaining, accepting, and continuing audit engagements
- Objective and general principles
- Assessing audit risks
- Understanding the entity, its environment, and the applicable financial reporting framework
- Fraud, laws, and regulation
- Audit planning and documentation
- Internal control systems
- The use and evaluation of systems of internal control by auditors
- Tests of controls
- Communication on internal control
- Internal audit and governance and the differences between external audit and internal audit
- The scope of the internal audit function, outsourcing, and internal audit assignments
- Assertions and audit evidence
- Audit procedures
- Audit sampling and other means of testing
- The audit of specific items
- Automated tools and techniques
- The work of others
- Not-for-profit organisations
- Subsequent events
- Going concern
- Written representations
- Audit finalisation and the final review
- The Independent Auditor's Report
- Use computer technology to efficiently access and manipulate relevant information
- Work on relevant response options, using available functions and technology as would be required in the workplace
- Navigate windows and computer screens to create and amend responses to exam requirements, using the appropriate tools
- Present data and information effectively, using the appropriate tools
ACCA Corporate and Business Law Module – ACCA LW F4
- Law and the legal system
- Source of law
- Formation of contract
- Content of contracts
- Breach of contract and remedies
- The law of torts and professional negligence
- Contract of employment
- Dismissal and redundancy
- Agency law
- Partnerships
- Corporations and legal personality
- The formation and constitution of a company
- Share capital
- Loan capital
- Capital maintenance and dividend law
- Company directors
- Other company officers
- Company meetings and resolutions
- Insolvency and administration
- Fraudulent and criminal behaviour
ACCA Financial Management Module – ACCA FM F9
- The nature and purpose of financial management
- Financial objectives and relationship with corporate strategy
- Stakeholders and impact on corporate objectives
- Financial and other objectives in not-for-profit organisations
- The economic environment for business
- The nature and role of financial markets
- The nature and role of money markets
- The nature, elements, and importance of working capital
- Management of inventories, accounts receivable, accounts payable, and cash
- Determining working capital needs and funding strategies
- Investment appraisal techniques
- Allowing for inflation and taxation in DCF
- Adjusting for risk and uncertainty in investment appraisal
- Specific investment decisions (lease or buy, asset replacement, capital rationing)
- Sources of, and raising, business finance
- Estimating the cost of capital
- Sources of finance and their relative costs
- Capital structure theories and practical considerations
- Finance for small- and medium-sized entities (SMEs)
- Nature and purpose of the valuation of business and financial assets
- Models for the valuation of shares
- The valuation of debt and other financial assets
- Efficient market hypothesis (EMH) and practical considerations in the valuation of shares
- The nature and types of risk and approaches to risk management
- Causes of exchange rate differences and interest rate fluctuations
- Hedging techniques for interest rate risk
- Use computer technology to efficiently access and manipulate relevant information
- Work on relevant response options, using available functions and technology, as would be required in the workplace
- Navigate windows and computer screens to create and amend responses to exam requirements, using the appropriate tools
- Present data and information effectively, using the appropriate tools
ACCA Financial Reporting Module – ACCA FR F7
- The need for a conceptual framework and the characteristics of useful information
- Recognition and measurement
- Regulatory framework
- The concepts and principles of groups and consolidated financial statements
- Tangible non-current assets
- Intangible assets
- Impairment of assets
- Inventory and biological assets
- Finaicla instruments
- Leasing
- Provisions and events after the reporting period
- Taxation
- Reporting financial performance
- Revenue
- Government grants
- Foreign currency transactions
- Limitations of financial statements
- Calculation and interpretation of accounting ratios and trends to address users' and stakeholders' needs
- Limitations of interpretation techniques
- Specialised, not-for-profit, and public sector entities
- Preparation of single entity financial statements
- Preparation of consolidated financial statements including an associate
- Use computer technology to efficiently access and manipulate relevant information
- Work on relevant response options, using available functions and technology, as would be required in the workplace
- Navigate windows and computer screens to create and amend responses to exam requirements, using the appropriate tools
- Present data and information effectively, using the appropriate tools
ACCA Performance Management Module – ACCA PM F5
- Managing information
- Sources of information
- Information systems and data analytics
- Activity-based costing
- Target costing
- Life-cycle costing
- Throughput accounting
- Environmental accounting
- Relevant cost analysis
- Cost volume profit analysis
- Limiting factors
- Pricing decisions
- Make-or-buy and other short-term decisions
- Dealing with risk and uncertainty in decision-making
- Budgetary systems and types of budget
- Quantitative techniques
- Standard costing
- Material mix and yield variances
- Sales mix and quantity variances
- Planning and operational variances
- Performance analysis
- Performance analysis in private sector organisations
- Divisional performance and transfer pricing
- Performance analysis in not-for-profit organisations and the public sector
- External considerations and the impact on performance
- Use computer technology to efficiently access and manipulate relevant information
- Work on relevant response options, using available functions and technology, as would be required in the workplace
- Navigate windows and computer screens to create and amend responses to exam requirements, using the appropriate tools
- Present data and information effectively, using the appropriate tools
ACCA Taxation Module – ACCA TX F6
- the overall function and purpose of taxation in a modern economy
- Principal sources of revenue law and practice
- The systems for self-assessment and the making of returns
- The time limits for the submission of information, claims, and payment of tax, including payments on account
- The procedures relating to compliance checks, appeals, and disputes
- Penalties for non-compliance
- The scope of income tax
- Income from employment
- Income from self-employment
- Property and investment income
- The comprehensive computation of taxable income tax liability
- National insurance contributions for employed and self-employed persons
- The use of exemptions and reliefs in deferring and minimising income tax liabilities
- The scope of the taxation of capital gains
- The basic principles of computing gains and losses
- Gains and losses on the disposal of movable and immovable property
- Gains and losses on the disposal of shares and securities
- The computation of capital gains tax
- The use of exemptions and reliefs in deferring and minimising tax liabilities arising on the disposal of capital assets
- The basic principles of computing transfers of vlaue
- The liabilities arising on chargeable lifetime transfers and on the death of an individual
- The use of exemptions in deferring and minimising inheritance tax liabilities
- Payment of inheritance tax
- The scope of corporation tax
- Taxable total profits
- Chargeable gains for companies
- The comprehensive computation of corporation tax liability
- The effect of a group corporate structure for corporation tax purposes
- The use of exemptions and reliefs in deferring and minimising corporation tax liabilities
- The VAT registration requirements
- The computation of VAT liabilities
- The effect of special schemes
- Use computer technology to efficiently access and manipulate relevant information
- Work on relevant response options, using available functions and technology, as would be required in the workplace
- Navigate windows and computer screens to create and amend repsonses to exam requirements, using the appropriate tools
- Present data and information effectively using the appropriate tools
Extra info
Assessment
During this course you will complete a number of progress tests and mock exams in preparation for your exams. You will need to sit an exam at the end of each module in order to achieve a pass.
Exams are not included in the cost of this course. You will need to book your exams directly with ACCA.
Course duration
Course duration varies depending on when you enrol and start the course.
Study method
This course is offered on a distance learning basis, meaning you will have access to your required study materials. You will also have unlimited support from your personal tutor via email. Studying via distance learning means you can fit your studies around your commitments and progress at your own pace.
Course outcome
On successful completion of your exams and the Ethics and Professional Skills module, you will receive an ACCA Advanced Diploma in Accounting and Business (RQF Level 4) qualification. This will count towards your overall ACCA membership and qualification.
Awarding body
ACCA (Association of Chartered Certified Accountants) are a global body for professional accountants based on international accounting standards. It is currently the world’s largest accountancy body, with nearly 700,000 members and students in 180 countries.
With a network of 83 offices and active centres around the world, the ACCA also have 57 global accountancy partnerships. Within Europe, they are a recognised supervisory body for the purposes of licensing auditors and finance professionals in the European Union.
What next?
The skills developed during this course will enable you to apply for the following roles:
- Assistant accountant
- Senior bookkeeper
- Accounts assistant
- Audit trainee
- Credit controller
- Finance assistant
- Finance officer
- Payroll supervisor
- Tax assistant
Take a read of our ‘How to Become an Accountant‘ career guide.
Q&As
In order to study this course, you must have completed one of the following:
- ACCA Fundamentals Applied Knowledge exams
- ACCA Diploma in Accounting and Business (RQF Level 4)
- Hold a relevant accounting or finance qualification at degree level
Proof of these qualifications must be provided when registering with ACCA as a student.
To achieve the full ACCA qualification, you will need to complete a total of 36 months of work experience in a relevant accounting or finance role. This work will need to be supervised and signed off by a practical experience supervisor.
You can start your work experience at any time and can continue gaining experience after completion of your exams.
There may be exemptions depending on what qualifications you already have. To find out if you are eligible to claim for an exemption, use the ACCA exemptions calculator.
Students will be required to pay a fee for each exam exemption, these can only be awarded by ACCA directly.
- Online learning platform
- Video tutorials and webinars
- Exam kit and progress tests
- Personal study plan
- Dedicated personal tutor support
- Dedicated learner services
- FREE CV critique service
- FREE employability guide to help you impress future employers
- FREE XO Student Discounts membership
Registration fees and exams are not included in the cost of this course. You will need to book and pay for these directly with ACCA.
It's not a problem. We offer a course replacement service, so if you get into trouble and your course pack is lost or damaged, our Student Support Team can provide you with a new set of materials for a one-time additional fee.
That's not a problem. We want to make sure you're 100% confident about enrolling on the course and starting your study. So, just give our team of education specialists a call on 03300 563 100 and they'll do their best to help.