ACCA F1 Paper – Accountant in Business – is a foundation paper which introduces a wide range of accounting and business terminology, and information about the business environment. The syllabus is very wide, but not deep.

Paper MA – Management Accounting –is concerned with managing the business so as to achieve better performance. It includes topics such as how to calculate the cost of producing items in a manufacturing company, the preparation of budgets, and the calculation of variances as a way of trying to control costs.

ACCA FA Paper – Financial Accounting –is concerned with the preparation of financial accounts. The topics examined cover everything from basic double entry through to the preparation of statements of cash flows, and basic consolidated accounts

The ACCA Performance Management paper – follows on from Paper MA and is concerned with managing the business so as to achieve better performance. Most of the topics were introduced in Paper MA, but are examined in more detail and to a greater depth

The syllabus for ACCA Paper TX, Taxation, introduces candidates to the subject of taxation and provides the core knowledge of the underlying principles and major technical areas of taxation as they affect the activities of individuals and businesses.

The syllabus then considers the separate taxes that an accountant would need to have a detailed knowledge of, such as income tax from self-employment, employment and investments, the corporation tax liability of individual companies and groups of companies, the national insurance contribution liabilities of both employed and self employed persons, the value added tax liability of businesses, the chargeable gains arising on disposals of investments by both individuals and companies, and the inheritance tax liability of individuals.

International Financial Reporting Standards - (IFRS) are mandated in more than 100 countries worldwide. All listed companies in the European Union (EU) have to prepare consolidated company accounts that comply with IFRS. It also affects associates and subsidiaries of EU-listed companies.