2016 ACCA CHANGES AND
OPPORTUNITIES – GET READY!
Summary by Globaltraining
www.globaltraining.org 1
Contents
Page
Exam Sittings 3
Exam Period 4
Completion Time Limits 5
P Paper Changes 6
New PER Policy - Summary 7
New PER Policy - Detail 9
Globaltraining’s Approach To The Challenges Ahead 13
Guaranteed Pass Scheme 14
University of London – MSc in Professional Accountancy 15
Oxford Brookes University – BSc in Applied Accounting 20
Contact Details 23
www.globaltraining.org 2
In previous years, ACCA exams could only be sat in June and December.
From 2016:
F5-F9 and P1-P7 exams can be sat in: March, June, September and
December.
F1-F4 will be available in paper-based format only in June and
December. However, these exams can be sat at anytime via Computer-
Based Exams. You can find your nearest Computer-Based Exam center
here.
Local Variants (i.e. of F4, F6 and P6) will only be offered during the
June and December exam sessions.
Exam Sittings
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Exams will now take place over one week, as follows:
March/September:
June/December:
WARNING: Be very careful about which papers you choose to ensure they are not
examined on the same day. For example, students used to regularly sit P3 and P6 together
but now this will not be possible.
Exam Period
MONDAY TUESDAY WEDNESAY THURSDAY FRIDAY
F8 F7 F5 F6 (UK/MYS/SGP) F4 (MYS/SGP)
P7 P2 P1 P3 F9
P5 P6 (UK/MYS) P4
MONDAY TUESDAY WEDNESAY THURSDAY FRIDAY
F2 F7 F5 F3 F1
F8 P2 P1 F6 F4
P7 P5 P3 F9
P6 P4
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The ACCA previously had a 10 year limit to complete all your exams. This
will be replaced with the following:
• No time limits for passing the Fundamental Papers
• 7 Years to pass the Professional Exams
The 7 year time limit starts when a student passes his/her first P
Level Exam
If you do not pass all P levels within seven years, you will only have
to re-sit the P level exams which you passed over seven years ago
For example, if you passed your P1 paper in September 2016, and
complete all your P papers in December 2023 (7 years and 3
months later), you will only be required to re-sit P1.
Completion Time Limits
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Students are now able to take their Professional Level exams in any
order!
However, the ACCA recommends that you take the P papers in numerical
order (i.e. P1, P2, P3 etc.) as they have been designed to build students
knowledge for each stage.
For example, students who take P7, should continue to take P2 in
advance of, or at the same time, as for the P7 exam. As P7 requires P2
knowledge.
P Paper Changes
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Note: This is relevant to students who are not with an ACCA Approved
Employer.
New PER Policy - Summary
Summary Of The PER Changes
Existing PER Policy New PER Policy
9 Essentials To Be Completed 5 Essentials To Be Completed
4 From 11 Options To Be Completed 4 From 15 Technicals To Be Completed
3 Challenge Questions For Each Performance Objective
1 Reflective Statement For Each Performance Objective
500 Words For Each Challenge Question 300 Words For Each Reflective Statement
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• The Professional Ethics Module and 36 months of relevant practical
experience will still need to be completed
• All employment information recorded in my experience will be
transferred over to the new system
• The title Workplace Mentor will be changed to Practical Experience
Supervisor
• All performance objectives so far achieved and signed will be
automatically transferred over – a corresponding performance
objective you will be awarded under the new PER policy
• Any performance objective exemption claimed on the basis of working
for an ACCA Approved Employer will also be transferred to the new
recording system
New PER Policy - Summary
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New PER Policy – Detail
ESSENTIALS
EXISTING PER POLICY NEW PER POLICY
1: Demonstrate the application of professional ethics,
values and judgement 1: Professionalism and ethics
5: Communicate effectively
6: Use information and communications technology
2: Stakeholder relationship
management
8: Improve departmental performance 3: Strategy and innovation
2: Contribute to the effective governance of an
organisation
3: Raise awareness of non-financial risk
4: Governance risk and control
4: Manage self
7: Manage on-going activities in your area of
responsibility
9: Manage an assignment
5: Leadership and management
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New PER Policy – Detail
OPTIONS/TECHNICAL
EXISTING PER POLICY NEW PER POLICY
n/a 6: Record and
process transactions and events
10: Prepare financial statements for external purposes 7: Prepare external financial
reports
11: Interpret financial transactions and financial
statements
8: Analyse and interpret financial
reports
15: Evaluate potential business/investment
opportunities and the required finance options
9 Evaluate investment and
financing decisions
16: Manage cash using active cash management and
treasury systems
10: Manage and control working
capital
n/a 11: Identify and manage financial
risk
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New PER Policy – Detail
OPTIONS/TECHNICAL
EXISTING PER POLICY NEW PER POLICY
12: Prepare financial information for management 12: Evaluate management
accounting systems
13: Contribute to budget planning and production 13: Plan and control
performance
14: Monitor and control budgets 14: Monitor performance
19: Evaluate and compute taxes 15: Tax computations and
assessments
20: Assist with tax planning 16: Tax compliance and
verification
n/a 17: Tax planning and advice
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New PER Policy – Detail
OPTIONS/TECHNICAL
EXISTING PER POLICY NEW PER POLICY
17: Prepare for and collect evidence for audit 18: Prepare for and plan the
audit process
Both 17 and 18 required 19: Collect and evaluate
evidence for an audit
18: Evaluate and report on audit 20: Review and report on the
findings of an audit
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Since 1991 Globaltraining have been leaders in financial professional
education across Europe and Online. We have trained thousands of
students who have achieved their professional dreams and gone on to
become partners, CEOs, Entrepreneurs and more.
We run classroom ACCA training courses in Cyprus, Greece and
Romania, and to the world via our online learning platform.
We believe that the newly introduced four exam sittings can be a benefit
for students, and we recommend that students start to sit less exams
more often. For example, in the past students usually attempted 2 exams
in June, however we now recommend you sit 1 in March and 1 in June.
Our online courses start every 3 months – ideal for the new sittings!
To learn more about our courses please visit: online.globaltraining.org
Globaltraining’s Approach To The Challenges Ahead
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In case a Globaltraining student does not pass an exam, he/she will be
entitled to receive Free of Charge the same course in the following
semester provided that he/she:
1. Accessed at least 90% of online materials available on the
platform for the related package.
2. Sat no more than three papers during the examination sitting in
which you have failed the course. You will need to submit
evidence of examination failure.
3. Passed the marked progress test and mock exam with at least
50%.
Guaranteed Pass Scheme
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You can place yourself at the forefront of ground-breaking change by
studying for the world’s first integrated MSc degree with the University of
London at the same time as taking your professional qualification with
ACCA.
The MSc in Professional Accountancy has been customised with
pathways for ACCA students, affiliates and members, providing a unique
opportunity for career advancement.
University of London - MSc in Professional Accountancy
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Program Outline
To obtain the MSc, students will have to complete all Fundamental
Papers, plus the three Essential Professional Papers, and then complete
two extra modules and one project.
Two Extra Modules:
• Strategic Financial Management
(equivalent to P4. Exemptions available)
• Strategic Performance Management
(equivalent to P5. Exemptions available)
One Project:
• The Strategic Financial Project
You can study Online.
University of London - MSc in Professional Accountancy
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Benefits
• The association of two world-leading organisations, ACCA and the
University of London (ranked in the top 20 Universities in the world
and attracts students from 150 countries), is hugely influential to
potential employers
• A combined academic and professional perspective will give you the
leading edge in today's competitive marketplace.
• Exceptional value for money, as the financial investment you will make
towards your ACCA qualification will count towards your MSc degree.
• Flexibility to fit your studies around work, family and personal
commitments.
University of London - MSc in Professional Accountancy
www.globaltraining.org 17
University of London - MSc in Professional Accountancy
www.globaltraining.org 18
University of London - MSc in Professional Accountancy
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ACCA and Oxford Brookes University have worked together to develop a
BSc (Hons) Degree in Applied Accounting, which is available exclusively
to ACCA students who wish to obtain a degree while studying towards the
ACCA Qualification.
There are lots of benefits of completing the degree, the main one being a
degree and a professional accounting qualification is a powerful
combination to have, putting you in demand with employers and
increasing your career prospects.
Oxford Brookes University – BSc in Applied Accounting
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Entry Requirements
• Be registered with Oxford Brookes University i.e. have opted in to the
BSc degree scheme and hold a suitable English language
qualification before passing any of the three ACCA Fundamentals papers,
F7, F8 and F9
• Successfully complete all nine Fundamentals Level papers
• Complete the ACCA Professional Ethics module
• The degree must be completed within 10 years of your initial
registration onto ACCA's professional qualification.
Oxford Brookes University – BSc in Applied Accounting
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Completion Requirements
• Complete a Research and Analysis Project (7500 words)
• Complete a Skills and Learning Statement (2000 words)
• Contact an Oxford Brookes University Registered Mentor to supervise
your work
Notes:
• Submission periods are in May and November each year
• Globaltraining have Registered Mentors who we can provide to
supervise and sign off your project. Contact Us for more information.
Oxford Brookes University – BSc in Applied Accounting
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For any further questions you may have , please contact us at:
Tel: +357 77 77 80 30 (Cyprus)
Email: [email protected]
Web: www.globaltraining.org
Contact Details
Cyprus
Nicosia
46 Makedonitissas Ave,
P.O.Box 24005,
1700 Nicosia
Limassol
92 Ayias Phylaxeos Str,
P.O.Box 51604,
3507 Limassol
Greece
Athens
265 Mesogeion Ave,
Neo Psychico,
Athens
Romania
Bucharest
31A Economu
Cezarescu Street,
Sector 6, 060754,
Bucharest
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