RELEVANT TO ACCA QUALIFICATION COLLEGE STUDENTS

Changes to the ACCA Qualification in 2013

Gareth Owen, ACCA requirements manager, points out the organized updates for the ACCA Qualification syllabuses happening in 2013 as part of the process of continuous syllabus maintenance and improvement. The content highlights the newest syllabus improvements, including any kind of minor strength changes to tests. There are a number of syllabus becomes the ACCA Qualification in 2013. They are mainly minor additions and updates, rather than major strength changes, making sure the degree continues to develop and adjust to the latest business and accounting sector needs. These most current changes happen to be being brought to update the syllabus articles, to ensure that the ACCA Qualification continues to abide by the appropriate regulating standards, to further improve the articulation between related syllabuses and reflect the views of the key stakeholders. The key difference in 2013 is always to the exam framework of the Professional Options papers. This will be described inside the relevant Specialist Options syllabus changes. (See detailed alterations below. ) In all situations, please label the 2013 Study Tutorials for total details. The summary of changes is additionally included behind each Analyze Guide. Lingo changes The IASB has evolved the names with the performance claims. ACCA will certainly implement this terminology in 2013 to get ACCA Research Guides and exams from Papers F4 to P7. The following stand shows all of the changes: Old term New term Income affirmation Statement of profit or loss Affirmation of complete income Assertion of revenue or damage and other thorough income As with the previous version of IAS 1, there is certainly still the choice to present overall performance in either a single declaration or in two statements. No other wordings in accounting criteria have been transformed as these generally referred to products being charged/credited to income or loss rather than talking about the term salary statement. Please note that terms changes will never apply to Paperwork F1, F2 and F3 until 2014 when terms changes are made to all Groundwork level exam papers also. All the comprehensive changes to the syllabuses will be summarised below.

В© 2013 ACCA

a couple of CHANGES TO THE ACCA CERTIFICATION IN 2013 FEBRUARY 2013

DETAILED IMPROVEMENTS OUTLINED PERTAINING TO JUNE AND DECEMBER 2013 Knowledge component (Papers F1–F3) The ACCA Knowledge module exams will stay with the current structure of fifty two-mark concerns throughout 2013 and in January 2014 and Papers F1 to F3 will operate with the same examinable files until January 2014. There are no syllabus changes organized for any from the three syllabuses for Conventional paper F1, Accountant in Business, Newspaper F2, Administration Accounting, or Paper F3, Financial Accounting, except for a minor terminology modify regarding the IFAC Code of Ethics today known as the IFAC (IESBA) Code of Ethics. Exam inquiries will, yet , still refer to the IFAC Code of Ethics. This only affects Section Farreneheit of Paper F1, Accountant in Business. Intended for clarity, the definition of IFAC will be retained throughout this year. There is no change to examinable documents for anyone papers. As explained over, the next upgrade to the examinable documents for the papers will be for exams in 2014. There is also a very minor logic to a study outcome in Paper F2, Management Accounting, as follows: Section and subject area B1 Accounting for material, labour and overheads Syllabus content (c) (iv) Re-apportion service price centre costs to creation cost centres (including the use of the reciprocal method where support cost centres work for every single other)

Paper F4, Company and Organization Law (ENG) and (GLOBAL) No changes. Paper F5, Performance Managing The changes designed to Paper F5 were largely an attempt to help align more effectively the Papers F2, F5 and P5 syllabuses. There is more focus on managing information in Paper P5 but these needed better supporting support from the Paper F5 syllabus – hence the...

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