Candidates around the world took almost 370,000 papers, with 7,160 students successfully completing their final ACCA exams, representing a 13.4% increase on last session.
Pass rates have improved at the Fundamental level – rising on average 2% over the previous December session. The pass rate of the F8 Audit and Assurance exam at 56% was significantly higher than in recent times. The results for F4 Corporate and Business law and that of F7 Financial Reporting were also strong this session. All other pass rates at the Fundamental level remained close to their historic averages.
At the Professional level, the results for the Essential papers remain strong. It was particularly pleasing that pass rates for each of the Options papers rose above those of December 2011, given that ACCA has launched guidance and signposted materials to assist students getting through this final hurdle in their exams.
Alan Hatfield, ACCA director – learning, said, “We congratulate those who have succeeded in their exams – and we are delighted to see that more than 7,000 have completed their examinations, having been able to demonstrate the financial knowledge and professional skills which are needed by organisations in challenging economic conditions. We look forward to welcoming them to ACCA membership on completion of their practical experience requirements.”
Following the launch of ACCA’s new Foundations in Accountancy suite of awards in December, a bumper number of exams were taken both as paper-based and computer-based exams (CBEs), with 10,000 paper-based exams and almost 45,000 CBEs taken in the June session. This resulted in 2,935 students choosing to transfer to the ACCA qualification on completion of the Diploma exams. The Diploma exams in this suite of awards are benchmarked as equivalent to first year degree standard.
Commenting on the continuing success of Foundations in Accountancy, Alan Hatfield said, “We are very pleased to see ACCA’s core values of opportunity and diversity in action through the Foundations in Accountancy suite of awards, offering students of ability an alternative way to gain entry to the ACCA qualification if they do not have formal qualifications of the appropriate level.”
“Additionally, it was the first session where the new Foundations Specialist exams were offered. These exams can be taken as part of the Certified Accounting Technician (CAT) qualification or can be taken as standalone exams leading to a Foundation specialist award on completion of the Foundations in Professionalism, an interactive module delivered on-line,” added Hatfield.
June 2012 session ACCA Qualification pass rates:
Paper F1, Accountant in Business, 64%*
Paper F2, Management Accounting, 52%*
Paper F3, Financial Accounting, 57%*
Paper F4, Corporate and Business Law, 54%
Paper F5, Performance Management, 42%
Paper F6, Taxation, 45%
Paper F7, Financial Reporting, 48%
Paper F8, Audit and Assurance, 56%
Paper F9, Financial Management, 37%
Paper P1, Governance, Risk and Ethics, 53%
Paper P2, Corporate Reporting, 49%
Paper P3, Business Analysis, 49%
Paper P4, Advanced Financial Management, 36%
Paper P5, Advanced Performance Management, 35%
Paper P6, Advanced Taxation, 42%
Paper P7, Advanced Audit and Assurance, 32%
June 2012 session Foundations in Accountancy pass rates:
Introductory Certificate in Financial and Management Accounting:
FA1, Recording Financial Transactions, 70%*
MA1 Management Information, 74%*
Intermediate Certificate in Financial and Management Accounting:
FA2, Maintaining Financial Records, 61%*
MA2, Managing Costs and Finance, 52%*
Diploma in Accounting and Business:
FAB, Accountant in Business, 47%
FMA, Management Accounting, 43%
FFA, Financial Accounting, 46%
Foundation Specialist papers:
FAU, Foundations in Audit, 53%
FTX, Foundations in Taxation, 83%
FFM, Foundations in Financial Management, 45%
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