ACCA 2026 Exam Format Explained | Complete Guide for ACCA Students By Palak Rana Ma'am

Understanding the ACCA exam format, structure, and paper pattern is very important for students planning to pursue this global accounting qualification. ACCA exams are designed to test not only technical knowledge but also practical and professional skills needed in real-world finance and accounting roles. Here we will explain the ACCA 2026 exam format, levels, paper structure, duration, and key features in detail so students can plan their preparation confidently and avoid confusion.

Overall ACCA Examination Structure

The ACCA qualification is structured across three distinct levels, encompassing a total of 13 papers.

• Note on Future Changes: The ACCA structure is scheduled to change in late 2027, reducing the total number of papers to 11. This will involve changes at the Professional level and the combination of certain Knowledge and Skill level papers.

The three levels of the ACCA qualification are:

1. Applied Knowledge Level

2. Applied Skills Level

3. Professional Level

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ACCA 2026 General Exam Characteristics

ACCA exams follow a student-friendly and flexible system.

• Exam Sessions: ACCA offers four exam sessions per year, providing flexibility for students. These sessions are held in:

• March

• June

• September

• December

• Passing Criteria: The pass mark for every exam is 50%. There is no negative marking at any level, encouraging students to attempt every question.

• Exam Format: All ACCA exams are Computer-Based Exams (CBEs). This format prepares students for a digital workplace.

• No traditional pen-and-paper answer sheets are used.

• Paper and pen are provided at the exam center for rough work only.

Level 1: Applied Knowledge

This is the introductory level, comprising 3 papers.

Key Features:

• Structure: Consists of 3 papers.

• Duration: Each exam is 2 hours long.

• Format: Papers are 100% Multiple Choice Question (MCQ) based.

• Pass Rates: This level has very high pass rates, typically above 80%, sometimes exceeding 90%.

• On-Demand Exams: Knowledge level papers are "On-Demand". Students can book their exam at a local center once ready, usually with one to seven days' notice.

Papers in the Applied Knowledge Level:

1. BT (Business and Technology) - F1: Covers fundamental business concepts, organizational structure, ethics, governance, and technology. It is a 100-mark, 2-hour, MCQ-based exam.

2. MA (Management Accounting) - F2: Focuses on foundational management accounting techniques, including costing, budgeting, and C-V-P analysis. It is a 100-mark, 2-hour, MCQ-based exam.

3. FA (Financial Accounting) - F3: Covers principles of financial accounting, double-entry bookkeeping, and preparation of basic financial statements. It focuses on the basics of IFRS (International Financial Reporting Standards), which are globally accepted standards.

Level 2: Applied Skills

This is the intermediate level, building on foundational knowledge.

Key Features:

• Structure: Consists of 6 papers.

• Duration: Each exam is 3 hours long.

• Format: These are session-based exams (held quarterly). The format includes:

• Objective Test Questions (OTQs) / MCQs

• Case-based OTQs

• Long-form constructed response questions, requiring typed answers using word processing and spreadsheet (Excel-like) functionalities provided in the exam software.

• Typing Speed: A decent typing speed is beneficial. Students are strongly recommended to use the official ACCA Practice Platform to familiarize themselves with the exam format and improve speed.

Papers in the Applied Skills Level:

1. LW (Corporate and Business Law) - F4: This paper is an exception; it is MCQ-based and available On-Demand, similar to Knowledge level papers. It typically has the highest pass percentage in the Skills level.

2. PM (Performance Management) - F5: An extended version of the MA (F2) paper, covering more advanced performance management topics. Pass rates vary between 40-50%.

3. TX (Taxation) - F6: Covers principles of taxation, primarily focusing on the UK tax system. It includes practical, theoretical, and evaluation-based questions. Pass rates range from 45-50%.

4. FR (Financial Reporting) - F7: An extended version of the FA (F3) paper. Covers complex IFRS, group accounting, and intangible assets. This paper is highly important for industry roles and interviews. Pass rates are generally 45-50%, but can reach 60-65%.

5. AA (Audit and Assurance) - F8:

• Format: Unique structure: Section A (30 marks) has three case-based scenarios with objective test questions. Section B (70 marks) has three long-form constructed response questions (one 30-mark and two 20-mark questions).

• Content: While challenging, certain topics are highly predictable. Strong accounting knowledge from FR is essential for success.

6. FM (Financial Management) - F9: Covers core financial management topics such as investment appraisal, risk management, and business valuations. Pass rates are generally 45-50% or higher.

Level 3: Professional Level

This is the final and most advanced level, compulsory for all students, with no exemptions granted.

Key Features:

• Structure: Consists of 4 papers (2 compulsory + 2 optional).

• Duration: Each exam is 3 hours and 15 minutes.

• Professional Skills: Exams test technical knowledge and professional skills, which account for 20 marks in each paper.

• Student Choice: Students choose optional papers based on career interests.

Compulsory Papers (Both must be taken):

1. SBL (Strategic Business Leader):

• Format: Highly unique, based on a single, integrated case study. It tests strategy, risk, evaluation, and governance.

• Pre-seen Material: Pre-seen material (14-15 pages detailing the case company) is released two weeks before the exam to aid preparation.

• Pedagogy: SBL is a judgmental paper where justification and professional evaluation are key.

2. SBR (Strategic Business Reporting): This is the extended version of the FR (F7) paper, covering advanced and complex IFRS topics.

• Format: Section A (50 marks) is one case study. Section B (50 marks) is another case study with two 25-mark requirements.

Optional Papers (Choose any two from four):

These are advanced versions of corresponding Applied Skills subjects.

1. AFM (Advanced Financial Management): The advanced version of FM, relevant for careers in financial modeling and investment banking.

2. APM (Advanced Performance Management): The advanced version of PM.

3. ATX (Advanced Taxation): The advanced version of TX.

4. AAA (Advanced Audit and Assurance): The advanced version of AA. It is mandatory to have strong SBR knowledge before attempting AAA, as an auditor requires expert accounting knowledge. It is strongly recommended to attempt AAA either with or after passing SBR.