Thinking about ACCA but confused about how many papers you actually need to clear? You’re not alone.
Most students searching for the ACCA papers list want straight answers about exam structure, subjects, and what each paper actually covers.
But what most people miss out is that the ACCA subjects list has evolved over the years. They make changes to match current business practices and global accounting standards. What used to be 14 papers is now a streamlined 13-paper structure designed to build your skills systematically.
This guide breaks down all 13 ACCA exams across three levels as of 2025-26.
So, whether you’re just starting research or already planning your study schedule, you will understand precisely what the qualification involves and how the papers progress from foundational accounting to strategic business management.
Let us get right into the details then!
When students start looking into the ACCA qualification, one of the first questions that comes up is: “How many papers are in ACCA?” or “What are the 14 papers of ACCA?” Well, as per the latest syllabus, ACCA has a total of 13 exams. Together, they test your expertise in accounting, finance, business management, law, taxation, and strategy.
Earlier, ACCA had 14 papers, but the syllabus was restructured. Some papers were merged to remove overlaps, and the result is a leaner, smarter, globally relevant qualification.
Here is a simple snapshot of all ACCA exams list:
Level | Paper Code | Subject Name | Type |
Applied Knowledge | BT | Business and Technology | Core |
MA | Management Accounting | Core | |
FA | Financial Accounting | Core | |
Applied Skills | LW | Corporate and Business Law | Core |
PM | Performance Management | Core | |
TX | Taxation | Core | |
FR | Financial Reporting | Core | |
AA | Audit and Assurance | Core | |
FM | Financial Management | Core | |
Strategic Professional | SBL | Strategic Business Leader | Compulsory |
SBR | Strategic Business Reporting | Compulsory | |
AFM | Advanced Financial Management | Optional (choose 2) | |
APM | Advanced Performance Management | Optional (choose 2) | |
ATX | Advanced Taxation | Optional (choose 2) | |
AAA | Advanced Audit and Assurance | Optional (choose 2) |
So, a quick recap:
- Applied Knowledge = 3 papers
- Applied Skills = 6 papers
- Strategic Professional = 4 papers
- ACCA total papers = 13 papers
Earlier, ACCA used to have 14 exams, which is why you might still see older articles or seniors mentioning 14 papers. That is outdated now — the official structure is 13.
In fact, our students also ask us sometimes: “What are the 14 papers of ACCA?” That’s because ACCA previously had 14 exams in its syllabus. The structure was simplified a few years ago, merging some content and removing overlap.
Now, with 13 papers, the journey remains rigorous but is better aligned with global accounting standards and employer needs.
How Many Papers And Exams Are In ACCA?
So, now that you know how many papers are there in ACCA, let us see how they are divided into three levels:
- Applied Knowledge (3 papers)
The first stage of ACCA is called Applied Knowledge. This level is all about building your foundation.
The exams are on-demand computer-based tests (CBTs), which means you can attempt them any time during the year.
Papers in Applied Knowledge:
- BT – Business and Technology: Basics of business structure, ethics, and governance.
- MA – Management Accounting: Introduces costing, budgeting, and performance measurement.
- FA – Financial Accounting: Covers double-entry bookkeeping, financial statements, and accounting standards.
- Applied Skills (6 papers): The next stage is Applied Skills. This level feels like a big step up from Applied Knowledge. In this level, you’ll start connecting concepts across law, tax, finance, and reporting. It has a total of six papers. We will discuss more in detail in the coming sections.
- Strategic Professional (4 papers): This is the final level of ACCA and where you specialise. The focus shifts from technical skills to strategic decision-making. You will be tested on real-life business case studies. This stage is tough, but it is what transforms you into a global finance leader.
P.S. Students love the flexibility here. For example, if you are passionate about tax, you can pick ATX. If you see yourself as an auditor, go with AAA.
These papers are sometimes referred to as subjects or modules. Each one builds on the last, meaning the deeper you go, the more advanced your knowledge and exam technique needs to be.
Quick insight: Pass rates highlight this progression. Knowledge level exams average around 70–80%, but when you move to Skills and Strategic papers, pass rates drop to 44–55%. Why? Because at higher levels, you need to connect multiple concepts and apply them to real-world scenarios under time pressure.
What Are The Foundational ACCA Papers (F1–F3 / BT–FA)?
The first stage is the Applied Knowledge level. These three exams are often referred to as the “foundation” papers because they build the base you will need for tougher papers ahead.
The good news? These are typically computer-based and available on demand, allowing you to take them at any time of the year.
Here is the list:
- Business and Technology (BT, previously F1)
Covers how businesses operate, the role of accounting in decision-making, and the basics of corporate governance. - Management Accounting (MA, previously F2)
Introduces cost accounting, budgeting, and performance management — the tools managers use to run operations efficiently. - Financial Accounting (FA, previously F3)
Focuses on the fundamentals of financial reporting, preparing financial statements, and understanding key accounting standards.
NOTE: These papers are considered the easiest part of ACCA. Many students pass them quickly and move ahead. But don’t take them lightly — they form the building blocks for everything that follows.
What Are The Intermediate-Level ACCA Papers (Applied Skills / F4–F9)?
After applied knowledge comes the applied skills level.
The Applied Skills level (also called Skills level) is the second stage of ACCA’s qualification journey. This is the stage where theory meets workplace reality. You stop just learning concepts and start applying them to messy, real-world business problems.
Applied Knowledge was learning the alphabet. Applied Skills? That is writing actual sentences that make sense.
Even the jump in difficulty from knowledge to skills level is noticeable. Not to scare you, but ACCA passing percentage scores for the knowledge level are high, around 70-80%. They drop to 44-55% in skills level because these papers demand a more profound understanding, better exam technique, and the ability to connect multiple concepts.
Take a look below:
Exam Session | Applied Knowledge (avg of BT, MA, FA) | Applied Skills (avg of LW, PM, TX, FR, AA, FM) |
Jun 2025 | 73.3% | 53.3% |
Dec 2024 | 74.3% | 53.5% |
June 2024 | 75% | 53.2% |
The pattern is clear. Applied Knowledge tests if you understand technical concepts. Questions shift from “what is this?” to “what would you do?”:
- Can you spot why a company’s working capital is deteriorating?
- Should they take on more debt or issue equity?
- How to handle company audit reports.
- How do you restructure operations when audit findings reveal control weaknesses?
- What tax planning strategies minimise liability without crossing legal lines?
- Why is this investment project showing positive NPV but negative IRR?
What Subjects Are In The Skills Level Of ACCA?
Now, coming to how many exams in ACCA Skills level do you need to give? That’s six subjects. Together, these papers give you the technical backbone of an accounting professional.
Here is the list below:
- Corporate and Business Law (LW) – Legal frameworks governing companies and contracts
- Performance Management (PM) – Using management accounting data for strategic decisions
- Taxation (TX) – Navigating tax compliance and planning for individuals and companies
- Financial Reporting (FR) – Preparing consolidated statements under IFRS standards
- Audit and Assurance (AA) – Verifying financial information and evaluating internal controls
Financial Management (FM) – Managing corporate finances, investments, working capital, and environmental risks.
What Are The Professional-Level Papers In ACCA?
The Strategic Professional level is the final and most advanced stage in the ACCA papers list.
It builds on everything you’ve learned in the Applied Knowledge and Applied Skills levels. At this stage, ACCA prepares you for leadership roles, strategic decision-making, and advanced technical skills.
This level has six papers. However, you only need to pass four of them to complete this stage.
- Essentials (compulsory):
- SBL (Strategic Business Leader)
- SBR (Strategic Business Reporting)
- Options (choose any two):
- AFM (Advanced Financial Management)
- APM (Advanced Performance Management)
- ATX (Advanced Taxation)
- AAA (Advanced Audit and Assurance)
The Essentials papers test your ability to lead and report at a strategic level. Meanwhile, the Options papers let you specialise in areas that match your career goals. Want to become an auditor? Or specialise in taxation? You can choose now.
Which ACCA Papers Are On-Demand Or Session-Based?
ACCA offers two types of exam schedules to make studying more flexible: on-demand exams and session-based exams.
On-demand exams can be taken anytime during the year, which is a flexible option for students and working professionals. Session-based exams, on the other hand, are held four times a year (March, June, September, and December). So you need to plan your studies around these dates.
The following is the ACCA subjects list for on-demand and session-based papers:
On-demand exams:
- BT (Business and Technology)
- MA (Management Accounting)
- FA (Financial Accounting)
- Corporate and Business Law (LW – UK & GLO)
- Foundation-level exams like MA1, FA1, MA2, FA2
Session-based exams:
- All other Applied Skills papers
- All Strategic Professional papers
Note: You can take on-demand exams at a nearby ACCA-approved exam centre or even remotely from home (if available in your location).
Frequently Asked Questions About ACCA Papers List
What Is Included In The ACCA Papers List?
The ACCA all papers list covers 13 papers in total that you need to pass to qualify as a Chartered Certified Accountant.
Which ACCA Papers Are On-Demand?
In the ACCA exams list, the first three papers from the Applied Knowledge level – i.e, Business and Technology (BT), Management Accounting (MA), and Financial Accounting (FA) are on-demand computer-based exams.