Flashcards · Finance & Accounting
ACCA Flashcards
Free flashcards for ACCA: flip each card to reveal the definition. Built from the ACCA glossary as a study aid, these are concept checks, not real exam questions.
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All 20 terms
- ACCA
- Association of Chartered Certified Accountants.
- Applied Knowledge
- The foundation level of the ACCA exams.
- Applied Skills
- The core technical level.
- Strategic Professional
- The advanced level (Essentials + Options).
- Exemption
- Skipping an exam based on prior qualifications.
- PER
- Practical Experience Requirement - 36 months of work.
- Ethics module
- The required Ethics and Professional Skills module.
- IFRS
- International Financial Reporting Standards.
- Accrual accounting
- Recognising items when earned/incurred, not when paid.
- Financial reporting
- Preparing financial statements for stakeholders.
- Audit and assurance
- Independent examination giving confidence in information.
- Management accounting
- Information used internally for decisions.
- Performance management
- Using information to plan and control performance.
- Taxation
- Rules for calculating and paying tax.
- Financial management
- Managing an organisation's funding and investment.
- Corporate and business law
- The legal framework around business.
- SBL
- Strategic Business Leader exam.
- SBR
- Strategic Business Reporting exam.
- Consolidation
- Combining group company accounts.
- Working capital
- Current assets minus current liabilities.