Most Difficult ACCA Papers & How to Tackle Them

Achieving the ACCA qualification is a dream for many students who aspire to land advanced roles in the fields of finance, auditing, and management due to its global recognition. Along with the recognition of this qualification comes a difficulty level that makes the exam non-qualifiable for the majority of students. Out of the 13 papers that you appear for, the difficulty level is seen as the maximum in a few, like SBR, AFM, AAA, FR, etc. However, preparing with the best ACCA online course in India​, and studying with a proper plan can make these papers look easy.

Most Difficult ACCA Papers

When you take a look at what are considered the most difficult ACCA papers to crack, there are several reasons behind them that make them so tough. These reasons include their complexity, analytical demands, and real-world application, all of which would seem easy with the appropriate preparation.

1. Strategic Business Reporting (SBR)

Strategic Business Reporting in the final level tests a candidate’s ability to apply IFRS standards in real-life reporting scenarios. The paper requires a deep understanding of IFRS standards and their practical implications and a heavy focus on analysis and interpretation, along with topics like financial instruments, consolidation issues, and ethics, which are conceptually dense. 

Here is how you can crack this paper:

• Focus on understanding the logic behind IFRS rather than memorizing paragraphs.
• Explain treatments in a clear, concise, and justified way.
• Practice high-quality professional answer writing.

2. Advanced Financial Management (AFM)

AFM, an optional paper in level 3, is one of the most calculation-heavy papers. Students struggle to pass this paper due to the need for complex formulas, the scenario-based questions, time pressure, case studies, and the strong understanding of both global financial markets and corporate strategy. Here’s how you can crack it:

• Practice long-form questions to improve speed and accuracy.
• Focus on risk management techniques.
• Strengthen core formulas. NPV, WACC, CAPM, and valuation models must be second nature.

3. Advanced Audit & Assurance (AAA)

AAA, another optional paper from the third level, tests real auditing judgment, ethics, risk assessment, and reporting from auditors. Its questions require applying auditing principles to practical business scenarios along with a heavy focus on risk identification, fraud assessment, and audit procedures, and answers with professionalism. To make the AAA paper look easy, you should:

• Practice identifying audit risks clearly.
• Revise ISA standards, most particularly ISA 315, ISA 330, and reporting standards.
• Read examiner reports and write answers like a real auditor.

4. Financial Reporting (FR)

FR is a part of the second level of ACCA. Students often find it challenging because it introduces several new accounting standards simultaneously, such as leases, revenue, and financial assets. Additionally, they also face time pressure to prepare for their consolidation questions, which require conceptual clarity and practice. Here is how you can study for the FR paper:

• Start with basic IFRS frameworks. Ensure strong fundamentals for standards like IFRS 16, IAS 38, and IAS 37.
• Solve consolidation questions repeatedly for proper practice.

5. Financial Management (FM)

FM is another paper of the second level of ACCA, one that demands a strong grasp of finance, including capital budgeting, cost of capital, and working capital management. What makes the paper feel challenging is its numericals, the heavy use of formulas and financial ratios, and the clarity on investment appraisal techniques. Here is how you can tackle it:

• Understand financial logic, not just formulas.
• Practice calculator efficiency, especially for discounting and annuities.

Best ACCA Preparation Tips

Every student or professional has their own way of studying and preparing for ACCA in the best way possible. However, one must remember that a preparation strategy should enhance comprehension, consistency, and exam performance of the candidate. The following are some elements that can be a part of the best possible preparation, along with studying in the best ACCA online courses​:

1. Follow a Structured Study Plan

Preparing and following a structured study plan ensures that you give time to your preparation and reduces the stress of the vast ACCA syllabus from your mind. A study plan should consist of topics divided based on difficulty and also give you enough time for revision and mock tests. The following are some tips to create an effective study plan:

• Use a 60-20-20 rule: 60% learning, 20% practice, and 20% revision each week.
• Give mock tests weekly to track your progress and improve exam writing speed.
• Create a realistic routine that balances your studies and work as well as other personal commitments.
• Prioritize studying difficult topics early.

2. Make or Accumulate Proper Study Material

High-quality study resources are essential for clearing difficult ACCA papers. These resources include self-made notes or study material in the form of different books. Availability of these resources minimizes confusion, ensures up-to-date learning, simplifies revisions, and increases accuracy during preparation. Here is what the material should consist of:

• Approved ACCA learning providers like Kaplan, BPP, and Becker.
• Previous year question (PYQ) exam papers for understanding question patterns.
• Summary notes for quick revision before exams.

3. Time Management

During preparation for an exam, especially for something like ACCA, learning time management during preparation helps you massively in the exam hall. As ACCA exams are time-pressure, students often struggle to complete papers. The following are some time management techniques you must practice and implement in your exam:

• Use the 1.8-minute rule, i.e., allocate 1.8 minutes per mark during exam practice.
• Attempt easy questions first to secure a good number of marks quickly.
• Quickly analyze scenarios before diving into solutions.

Conclusion

Along with being a prestigious qualification, ACCA is known for its difficulty standards. However, these difficulty standards can never stand in your way when you are preparing with the right strategy and dedication. If you are someone who is in need of the proper guidance, we at Fintelligents are here for you, offering you the best preparation strategy and setting you on the path to success.

We at Fintelligents, a provider of the best ACCA online classes Mumbai, offer you the support of an expert faculty to prepare in-depth for every level of ACCA. Our facilities, as the best ACCA coaching India, include online recorded sessions, mock tests, personalized study planners, tutor notes, and much more at a very affordable fee.

Enroll at Fintelligents to get the best ACCA coaching to help you crack the exam and achieve a successful career.

FAQs

Q. What is the hardest ACCA paper?

The hardest ACCA papers are considered to be those of the third level, i.e., the Strategic Professional level, like Strategic Business Reporting (SBR), Advanced Audit and Assurance (AAA), and Advanced Financial Management (AFM).

Q. How to pass the AFM exam?

To pass the AFM exam, you need to keep in mind several things during your preparation, such as practicing long-form questions, focusing on risk management techniques, and strengthening core formulas. 

Q. How many hours to study for ACCA per day?

For the best possible preparation for ACCA, it is essential for you to study for 6-7 hours per day.

Q. Is ACCA difficult for average students?

For average students, clearing ACCA papers can be very difficult. However, with appropriate preparation and the proper coaching and guidance, they can be made expert enough to clear the exam.