The Fundamentals level is divided into two modules - Knowledge and Skills.
The knowledge module (F1-F3) introduces students to the core areas of financial and management accounting. This provides the platform from which the other technical accountancy areas will be studied in greater detail in the Skills module.
The Skills module (F4-F9) contains six subjects which comprehensively cover the main technical areas that any accountant - regardless of their future career aspirations - are expected to have mastered. These comprise law, performance management, taxation, financial reporting, auditing and financial management.
The Professional level is divided into two modules - Essentials (P1-P3) and Options (P4-P7). Both modules have been set at an intellectual level equivalent to that expected of a student taking a Masters degree. The focus of the syllabus at this level is to build upon the technical skills already acquired, and explore more advanced professional skills, techniques, and values that are required and used by the expert accountant acting in an advisory or consultancy role at a senior level. All students must complete the three papers in the Essentials module. The Options module contains four papers. These are directly underpinned and supported by their equivalent within the Skills module in the Fundamentals level. These exams assess the more advanced and sophisticated techniques that a professional needs in order to specialise in specific areas at work or to follow as a career pathway in an advisory or consultancy role. Students select two out of four Option papers and are advised to choose the options that relate to their chosen or anticipated field of work.