ACCA is unique in allowing you to focus on specialist areas of professional accountancy at an advanced level. Providing you with the opportunity to steer your studies towards your desired career path and play to your strengths.
What Options exams are available
In addition to Strategic Business Leader and Strategic Business Reporting exams, at Strategic Professional, students must complete two from the following four Options exams:
- Advanced Financial Management (AFM)
- Advanced Performance Management (APM)
- Advanced Taxation (ATX)
- Advanced Audit and Assurance (AAA).
Options and their related Applied Skills exam
Each of the Options exams is underpinned by knowledge from an Applied Skills exam. Our research tells us that those with good knowledge of the underpinning Applied Skills exam are more likely to pass the Options exam.
Before studying any Options exam, it is a good idea to look at the essential underpinning knowledge from the Applied Skills exam to check how familiar you are with the concepts you will need to build on (even if you were exempt from taking the Applied Skills exam.)
| Options exam choice | Underpinning Applied Skills exam |
|---|---|
| Advanced Financial Management | Financial Management |
| Advanced Performance Management | Performance Management |
| Advanced Taxation | Taxation |
| Advanced Audit and Assurance | Audit and Assurance |
How to choose which Options exams to take
There are are a number of things to consider, including which exams may best reflect:
- Your strengths – think about how well you performed and/or understand the concepts of the underpinning exam at the Applied Skills level.
- The work experience you may have gained – your existing experience may support your learning and maximise your chances of success.
- The career path you wish to have.
Options exams and relevant career paths
Use our brief guides below for more information on the skills and career paths each Options exam can support.
In AFM you will learn the strategic and financial management skills that are highly valued by employers, particularly those specialising in corporate finance including, for example, investment banks, private equity firms and corporate finance advisories.
AFM provides the basis for a career in corporate finance or treasury whether it involves financial modelling based on advanced valuation techniques, preparing for and/or advising on a merger or acquisition, or developing the advanced risk management strategies that can empower companies in an increasingly complex business environment.
Access more guidance in our Introduction to the Advanced Financial Management exam
APM focuses on performance management and decision-making within organisations and would suit those who are considering a career where they want to play a central role in the decision-making and future direction of an organisation.
Whether profit-seeking, or not-for-profit, all organisations need to measure and manage their performance to ensure that they are working towards achieving their strategic objectives. APM covers how organisations set, monitor and report on performance targets to drive performance and influence behaviour. It also focuses on how organisations use technology and leverage data driven insights.
This exam gives you a real understanding of how management accountants play a leading role in creating and sustaining value for organisations.
Access more guidance in our Introduction to the Performance Management exam
We offer a number of ATX exam versions so you can select the most relevant version for your location. The information below is specifically in relation to the ATX-UK exam version, but the general guidance can be used broadly for all ATX versions.
For more information on what versions are offered please visit our exam versions page
Studying ATX-UK will provide an excellent foundation for those wishing to embark on a varied and rewarding career in tax.
Skilled tax professionals are in high demand because of the complexity of tax rules and legislation, nationally and internationally. Building on your technical capabilities in respect of the major UK taxes, studying ATX-UK will develop your professional skills to provide trusted advice to companies and individuals on the impact of tax on their financial decisions.
ATX-UK is also a great option even if you do not see yourself working in a tax specific role, providing you with the ability to speak knowledgeably to clients and colleagues around the tax costs of business decisions. This knowledge can also be invaluable to help you understand your own tax position and how tax can impact your future plans - whether continuing in accounting, branching out into finance or even setting up your own business.
Access more information in our Introduction to the Advanced Taxation exam
AAA is essential for those who work, or who plan to work, in audit and practice.
You will develop the skills to ‘stand back and see the bigger picture’, by analysing the information and applying your knowledge of audit and financial reporting to form practical conclusions. AAA is a narrative based exam, allowing you to display communication skills by planning and writing professional responses to issues.
Key to the exam is the demonstration of professional scepticism and judgement, which is necessary for accountants in both practice and industry.
Access more information in our Introduction to the Advanced Audit and Assurance exam.
Our Career Navigator
Visit our Career Navigator where you can explore different job roles that the ACCA Qualification can lead to and learn what areas of specialism are required for these roles.
