ACCA · Level
Applied Skills
The ACCA Applied Skills level develops deeper technical expertise across six subjects: law, performance management, taxation, financial reporting, financial management, and audit. These subjects build the core professional skills you'll use throughout your career.
How you're assessed
Objective Test
Session-Based Exams (LW, PM, TX, FR, FM, AA)
Sat in ACCA exam sessions (March, June, September, December). LW is a 2-hour CBE; all others are 3-hour paper-based or CBE exams.
60
Questions
90
Minutes
50%
Pass Mark
Subjects in this level
Taxation
Taxation (TX) covers UK income tax, corporation tax, capital gains tax, VAT, and inheritance tax — focusing on the computations and compliance requirements you'll encounter in practice. It's a highly practical subject with significant calculation content.
Key topics
- Income tax: employment, trading, investment income
- Corporation tax: computation and group relief
- Capital gains tax for individuals and companies
- Value Added Tax (VAT) — registration and computation
- Inheritance tax and national insurance
- Tax administration and self-assessment
Exam details
60
Questions
180
Minutes
50%
Pass mark
4
Sessions/yr
March, June, September & December
Corporate and Business Law
Corporate and Business Law (LW) covers the English legal system, contract law, company law, employment law, and insolvency. It provides the legal foundation every finance professional needs to operate ethically and compliantly within corporate structures.
Key topics
- English legal system and sources of law
- Contract law: formation, terms, breach
- Company formation and constitution
- Company directors and shareholders
- Employment law and contract of employment
- Insolvency and corporate rescue procedures
Exam details
60
Questions
120
Minutes
50%
Pass mark
4
Sessions/yr
March, June, September & December
Performance Management
Performance Management (PM) develops advanced management accounting techniques: throughput accounting, environmental accounting, lifecycle costing, transfer pricing, and performance measurement frameworks. It builds on MA to provide a comprehensive toolkit for management decision-making.
Key topics
- Throughput accounting and theory of constraints
- Environmental and lifecycle costing
- Transfer pricing in divisional structures
- Divisional performance measurement (ROI, RI)
- Balanced Scorecard and performance pyramid
- Risk and uncertainty in decision-making
Exam details
60
Questions
180
Minutes
50%
Pass mark
4
Sessions/yr
March, June, September & December
Financial Reporting
Financial Reporting (FR) builds on FA, covering the preparation and interpretation of financial statements under IFRS for single entities and groups. You'll study consolidations, accounting standards, and financial statement analysis in depth.
Key topics
- Preparation of financial statements (IFRS)
- Group consolidations: subsidiaries and associates
- IFRS 16 Leases, IFRS 15 Revenue
- Accounting for financial instruments (IFRS 9)
- Financial performance analysis
- Ethical and conceptual framework issues
Exam details
60
Questions
180
Minutes
50%
Pass mark
4
Sessions/yr
March, June, September & December
Audit and Assurance
Audit and Assurance (AA) develops your understanding of the audit process, from planning and risk assessment through to evidence gathering and reporting. You'll learn the principles of external audit, internal audit, and other assurance engagements under ISAs.
Key topics
- External audit framework and regulation
- Audit risk model (inherent, control, detection)
- Audit planning and materiality
- Internal controls and testing
- Audit evidence and procedures
- Audit reporting and completion
Exam details
60
Questions
180
Minutes
50%
Pass mark
4
Sessions/yr
March, June, September & December
Financial Management
Financial Management (FM) covers investment appraisal, business finance, working capital management, business valuations, and risk management techniques. It equips you with the tools to make and evaluate financial decisions at a corporate level.
Key topics
- Investment appraisal: NPV, IRR, payback
- Sources of finance and capital structure
- Working capital management
- Business valuations: DCF and market-based methods
- Foreign exchange risk management
- Interest rate risk management
Exam details
60
Questions
180
Minutes
50%
Pass mark
4
Sessions/yr
March, June, September & December
Where this fits in the qualification
Prerequisites
Completion of ACCA Applied Knowledge (BT, FA, MA) or accredited exemptions
On completion
Progress to ACCA Strategic Professional level
Frequently asked questions
In what order should I sit the ACCA Applied Skills papers?
ACCA doesn't mandate an order, but most students follow a logical sequence: LW → MA/FA (already done) → PM → TX → FR → FM → AA. FR builds on FA; AA builds on FR and LW. PM and TX can be sat alongside FR. FM is often sat later as it requires more technical maturity.
How difficult is the ACCA Applied Skills level?
The Skills level is a significant step up from Knowledge. Papers like FR, FM, and AA are technically demanding and require strong exam technique, not just knowledge. The pass rates for Skills papers are typically in the 40–55% range, so solid preparation is essential.
How VIVA teaches Applied Skills
Step 1
Learn
Grasp the Applied Skills syllabus fast.
6 subjects. Expert-led video lessons covering every examinable area for TX, LW, PM, FR, AA, FM — no filler, nothing that isn't in the exam.
Step 2
Practise
Sit the Applied Skills exams before you sit them for real.
Exam-realistic mocks replicating official ACCA conditions. Same format, same timing, same pressure — with worked explanations for every answer.
Step 3
Diagnose
Stop revising Applied Skills topics you already know.
After every mock, VIVA maps your strengths and weaknesses across all Applied Skills subjects and rebuilds your study path around what actually needs work. Instant AI-enhanced marking with expert oversight — the speed of technology, the judgement of real experts.
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Access options
Applied Skills access
Full level bundle
- All video lessons and resources for every subject
- Unlimited practice questions and mock exams
- Pass guarantee on eligible subjects
Or buy individually