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    Applied Skills

    Build Strategic Skills

    Applied Skills: The second level of ACCA

    The Applied Knowledge Level, also known as Level 1, is the first step in the journey to becoming a globally recognised Chartered Certified Accountant. This foundational level equips students with essential financial and management accounting skills, ensuring a strong base for advanced studies and professional growth. It covers key subjects such as Business and Technology (BT), Management Accounting (MA), and Financial Accounting (FA), which provide a fundamental understanding of business operations, financial reporting, and cost management. Completing this level enables students to progress to the Applied Skills Level, where they build on technical knowledge and develop analytical expertise essential for real world financial decision making.

    Subject Overview

    Taxation provides students with knowledge of tax systems, regulations, and their application in financial decision-making. It covers personal and corporate taxation, tax planning strategies, and compliance with tax laws. This subject emphasizes the importance of understanding tax obligations, minimizing tax liabilities legally, and ensuring adherence to regulatory requirements. Additionally, it introduces students to key tax principles and calculations, preparing them to advise individuals and businesses on effective tax management.

    Performance Management is concerned with applying management accounting techniques to support business decision making. It explores cost control, budgeting, variance analysis, and performance evaluation to enhance efficiency and profitability. This subject emphasizes the use of financial and non-financial data in measuring and improving business performance. Additionally, it introduces students to strategic planning, risk management, and modern performance measurement tools to help businesses achieve their objectives.

    Taxation provides students with knowledge of tax systems, regulations, and their application in financial decision-making. It covers personal and corporate taxation, tax planning strategies, and compliance with tax laws. This subject emphasizes the importance of understanding tax obligations, minimizing tax liabilities legally, and ensuring adherence to regulatory requirements. Additionally, it introduces students to key tax principles and calculations, preparing them to advise individuals and businesses on effective tax management.
    Financial Reporting focuses on the preparation and analysis of financial statements in accordance with international accounting standards. It examines accounting principles, asset and liability measurement, and the recognition of income and expenses. This subject emphasizes accuracy, consistency, and transparency in financial reporting to ensure compliance with regulations. It helps students develop skills in interpreting financial statements, analyzing financial performance, and making informed business decisions.
    Audit and Assurance is concerned with the principles and processes of auditing financial statements to ensure accuracy and reliability. It covers the roles and responsibilities of auditors, risk assessment, internal controls, and ethical considerations in auditing. This subject emphasizes the importance of professional skepticism, compliance with international auditing standards, and maintaining public trust in financial reporting.
    Financial Management focuses on the key financial decisions businesses make to maximize value and ensure financial stability. It covers investment appraisal, capital structure, risk management, and working capital management. This subject emphasizes financial planning, cost control, and the evaluation of financial risks to support business growth and sustainability. It introduces students to techniques for analyzing financial data, managing cash flows, and making strategic financial decisions in a competitive business environment.

    Examinations

    Exam Format: Exams can be taken at ACCA-approved exam centres.

    Exam Duration: 3 hours for each paper (Corporate & Business Law : 2 hours)

    Passing Criteria: A minimum score of 50% to pass each paper.

    Exam Session: The Applied Skills exams for ACCA take place four times a year in March, June, September, and December.

    Admission Eligibility

    To start studying the Applied Skills Level, students must meet one of the following eligibility criteria:

    Completion of Applied Knowledge Level

    • Students must have successfully passed all three papers of the Applied Knowledge Level (Business and Technology, Management Accounting, and Financial Accounting).

    Exemptions based on qualifications

    • Students with relevant academic and professional qualifications, such as a bachelor’s degree in accounting, finance, or business, may receive exemptions from the Applied Knowledge Level and directly start at the Applied Skills Level.


    To check exemptions or verify eligibility, students can use the ACCA Exemptions Calculator.

    FIA Route (Foundations in Accountancy)

    • Students who complete the Foundations in Accounting (FIA) are eligible to progress directly to the Applied Skills Level.

    Eglobal ACCA is a leading ACCA college in Nepal, offering exam-focused ACCA classes in Kathmandu.

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