Professional Scheme part 3
This section contains the syllabus and study sessions for each paper within Part 3 of the ACCA Professional Syllabus.
Option papers:
3.1 Audit and Assurance Services
3.2 Advanced Taxation
3.3 Performance Management
3.4 Business Information Management
Core papers:
3.5 Strategic Business Planning and Development
3.6 Advanced Corporate Reporting
3.7 Strategic Financial Management
Candidates must sit two option papers and the three core papers.
The objective of part 3
The main aim of Part 3 is to establish evidence of competence to practise as a professional accountant in public practice, public sector or in industry and commerce. This requires candidates to demonstrate not only that they have mastered the range of required knowledge, skills and techniques, but also that they are able to apply them in a managerial context.By this stage, knowledge has to be fully integrated in the way it is used by professionals with a recognition of how the different subjects contribute to dealing with problems. This stage will present candidates with problems which test their skills and sensitivity in dealing with new contexts and unforseen circumstances. In dealing with such situations, candidates will be expected to tailor solutions to problems appropriately and in a way which demonstrates their grasp of managerial skills.
Although emphasis will be given to practical issues, candidates will also be expected to criticise current practice and express views on developments in accounting. They will also be expected to show evidence of the necessary personal qualities and interpersonal skills required of the professional accountant. Examinations at this stage will be set at a level equivalent to a UK Masters degree.
Skills to be tested in part 3
Candidates should be able to demonstrate the ability to:- draw on knowledge across all earlier papers studied
- integrate that knowledge effectively and use it creatively in applying concepts and techniques
- analyse and interpret data and information and present reasoned conclusions
- diagnose and formulate appropriate solutions to problems which indicate commercial awareness
- exercise judgement drawing on technical, political and commercial awareness in developing and evaluating alternatives and in proposing solutions
- adapt to new systems and circumstances and
- communicate analyses and conclusions effectively and with sensitivity for different purposes and to contrasting audiences with due emphasis on social expectations. While the skills identified above will be tested directly by the questions set, in assessing the answers weight will be given to candidates' ability to demonstrate a grasp of the following personal skills and attributes:
- strategic awareness – identifying the strategic needs of the organisation and contributing to strategic planning and management
- interpersonal skills – tact, sensitivity to political tensions and cultural differences, awareness of social, economic and political pressure, ability to influence
- management skills – resource management: people, material, time and money, management of the client, management of change, in particular, in technology and contingency planning and
- personal qualities – persistence in pursuing inquiries and probing responses, integrity, objectivity, independence and public responsibility.