ACCA Strategic Professional Syllabus 2026–27 Guide
ACCA Strategic Professional Syllabus 2026–27: Complete Guide to SBL, SBR, AFM, APM and AAA (with Changes)
Author: Vicky Sarin, CA, INSEAD
The Strategic Professional level is where your ACCA journey transforms from technical competence to boardroom readiness. This final stage tests your ability to integrate knowledge across finance, reporting, risk, leadership andassurance—exactly the capabilities employers demand from senior finance professionals.
This guide covers the full September 2026 to June 2027 syllabus for all five Strategic Professional papers, highlights what has changed (and what has not), and points you toward the right study resources for each subject.
Understanding the Strategic Professional structure
Strategic Professional consists of:
- Two Essentials (compulsory): Strategic Business Leader (SBL) and Strategic Business Reporting (SBR)
- Two Options (choose any two from three): Advanced Financial Management (AFM), Advanced Performance Management (APM), Advanced Audit and Assurance (AAA) and Advance Taxation (ATX)
All six papers are examined via computer-based exams featuring long-form scenario questions, integrated case studies, and professional skills marks. This differs markedly from the objective-test style at Applied Knowledge and Applied Skills levels.
Note: ACCA is overhauling the entire qualification from 2027 with fewer exams and only one option paper. See our complete ACCA Syllabus Changes 2027 guide to understand what's changing."
Strategic Business Leader (SBL) syllabus 2026–27
SBL aim and capabilities
SBL is the flagship case-study paper at Strategic Professional. It tests your ability to act as a senior consultant or board advisor, integrating leadership, governance, strategy, risk, technology and finance within a single organisation scenario.
Core capabilities include:
- Applying leadership qualities, ethical frameworks and cultural awareness (Area A)
- Evaluating governance structures, stakeholder responsibilities and integrated reporting (Area B)
- Assessing strategic position and recommending growth or restructuring options (Area C)
- Identifying and managing strategic risks within an enterprise risk management framework (Area D)
- Leveraging technology, big data, AI and cyber-security to support organisational objectives (Area E)
- Designing internal control systems and internal audit functions (Area F)
- Applying financial analysis and management accounting to strategic decisions (Area G)
- Managing organisational change and project delivery (Area H)
SBL high-level topic list
| Area | Topics covered |
|---|---|
| A | Professional behaviour, consequences of unethical reporting |
| B | Conceptual Framework, qualitative characteristics, measurement bases |
| C | Revenue (IFRS 15), leases (IFRS 16), financial instruments (IFRS 9), employee benefits (IAS 19), deferred tax, provisions, share-based payment, fair value, presentation |
| D | Business combinations (IFRS 3), goodwill, NCI, step acquisitions, changes in ownership, associates, joint arrangements, foreign operations, group cash flows |
| E | Analysis and interpretation, segment reporting, performance measurement |
| F | Current issues—digital assets, climate-related disclosures, IFRS Sustainability Disclosure Standards |
| G | Employability and technology skills |
SBL exam format
- Duration: 3 hours 15 minutes
- Format: 100-mark integrated case study (typically three tasks) based on a pre-seen scenario released two weeks before the exam, plus additional exhibits on exam day
- Marks: 80 technical + 20 professional skills
The pre-seen is critical. Learn how to analyse it effectively in SBL pre-seen analysis: Complete guide for ACCA SBL.
What's changed for 2026–27?
No changes. ACCA confirms there are no additions, deletions or amendments to the SBL syllabus for September 2026 to June 2027. Exam format, topic weightings and professional skills allocation remain identical to 2025–26.
SBL study resources
For India (print books with 4–7 day delivery):
- BPP ACCA SBL Business Leader Books — includes Course Book + Exam Practice Kit
For global students (instant eBook access):
- BPP ACCA Strategic Professional eBooks — select SBL from the bundle
Live coaching with BPP tutors:
- Best ACCA SBL Online Course | Master Business Leadership — recorded ECR lectures, mock exams and CBE practice
For exam technique and time allocation strategies, see SBL Time Management: Master 3h 15m Exam Strategy and 5 SBL Professional Skills Mistakes Costing Marks.
Strategic Business Reporting (SBR – INT) syllabus 2026–27
SBR aim and capabilities
SBR develops your ability to apply, discuss and evaluate financial reporting concepts under IFRS, including sustainability disclosures. It also tests ethical judgement on management's reporting choices.
Key capabilities:
- Applying ethical and professional principles in corporate reporting (Area A)
- Evaluating the Conceptual Framework and limitations of financial reporting (Area B)
- Preparing and analysing complex single-entity performance disclosures under IFRS (Area C)
- Preparing group financial statements including business combinations, disposals and foreign operations (Area D)
- Interpreting financial and non-financial information for stakeholders (Area E)
- Discussing current and emerging issues, including IFRS Sustainability Disclosure Standards (Area F)
SBR high-level topic list
| Area | Topics covered |
|---|---|
| A | Professional behaviour, consequences of unethical reporting |
| B | Conceptual Framework, qualitative characteristics, measurement bases |
| C | Revenue (IFRS 15), leases (IFRS 16), financial instruments (IFRS 9), employee benefits (IAS 19), deferred tax, provisions, share-based payment, fair value, presentation |
| D | Business combinations (IFRS 3), goodwill, NCI, step acquisitions, changes in ownership, associates, joint arrangements, foreign operations, group cash flows |
| E | Analysis and interpretation, segment reporting, performance measurement |
| F | Current issues—digital assets, climate-related disclosures, IFRS Sustainability Disclosure Standards |
| G | Employability and technology skills |
SBR exam format
- Duration: 3 hours 15 minutes
- Section A: Two compulsory scenario questions—30 marks (group accounting) + 20 marks (ethics and reporting)
- Section B: Two 25-mark scenario questions on any syllabus area
- Professional skills: 4 marks embedded across questions 2 and 4
What's changed for 2026–27?
Minor cognitive-level tweak. Learning outcome F1(c) ("discussion of issues in financial reporting") has its intellectual level raised from Level 2 to Level 3. This means expect more evaluative, debate-style questions around sustainability reporting and new standards—not just explanation.
No topic additions or deletions.
SBR study resources
For India (print books):
For global students (eBooks):
Live coaching:
For examiner insights, read ACCA SBR Examiner feedback. How to score big and IFRS Sustainability Standards SBR Exam Guide.
Advanced Financial Management (AFM) syllabus 2026–27
AFM aim and capabilities
AFM prepares you to operate as a senior financial executive or advisor in complex multinational environments, applying advanced investment appraisal, corporate finance, treasury and risk management techniques.
Key capabilities:
- Explaining the role of senior financial management and international financial institutions (Area A)
- Evaluating investment decisions using real options, APV and project-specific WACC (Area B)
- Assessing acquisitions, mergers and corporate restructuring strategies (Areas C and D)
- Applying derivative-based hedging for FX and interest rate risks (Area E)
AFM high-level topic list
| Area | Topics covered |
|---|---|
| A | Role of senior financial adviser, ESG in strategy, international trade and finance, dividend policy, transfer pricing |
| B | NPV with tax/inflation, Monte Carlo concepts, Black-Scholes option pricing, real options, APV, free-cash-flow valuation, international project appraisal |
| C | M&A strategy, valuation methods, deal financing, regulation |
| D | Financial reconstruction, unbundling, MBOs and MBIs |
| E | Derivatives markets, FX hedging (forwards, futures, options, swaps), interest rate hedging (FRAs, caps, collars), treasury operations |
| F | Professional skills |
| G | Employability and technology skills |
AFM exam format
- Duration: 3 hours 15 minutes
- Section A: One 50-mark case study (40 technical + 10 professional skills) covering at least two syllabus areas
- Section B: Two 25-mark scenario questions (20 technical + 5 professional skills each)
- Investment appraisal (B) and treasury/risk (E) always feature prominently
What's changed for 2026–27?
No changes. Topic coverage, exam structure and professional skills allocation are unchanged from 2025–26.
AFM study resources
For India (print books):
For global students (eBooks):
Live coaching:
Avoid common pitfalls by reading Top 10 ACCA AFM Common Mistakes Students Make and ACCA AFM Professional Skills: Master Communication.
Advanced Performance Management (APM) syllabus 2026–27
APM aim and capabilities
APM focuses on strategic management accounting and data science methods to plan, measure and improve organisational performance across diverse business models—including service, not-for-profit and complex supply chains.
Key capabilities:
- Applying strategic performance measures and value-creation frameworks (Area A)
- Using performance improvement models (VBM, ABM, TQM, Six Sigma, target costing) and optimising performance in specific contexts (Area B)
- Evaluating management reporting systems and data visualisation (Area C)
- Assessing the impact of big data, analytics and machine learning on performance management (Area D)
APM high-level topic list
| Area | Topics covered |
|---|---|
| A | Strategic management accounting, performance hierarchy, financial and non-financial KPIs (including Net Promoter Score), sustainability and environmental management accounting |
| B | Budgeting and control, performance and reward, value chain, VBM, ABM, TQM, Six Sigma, JIT, target/kaizen costing; performance in service, not-for-profit, alliances and supply chains |
| C | Design and evaluation of management reports, narrative commentary, dashboards, avoiding information overload |
| D | IT systems, ERPs, data warehouses, big data, descriptive/diagnostic/predictive/prescriptive analytics, machine learning use-cases, ethics of AI |
| E | Professional skills |
| F | Employability and technology skills |
APM exam format
- Duration: 3 hours 15 minutes
- Section A: One 50-mark case study (40 technical + 10 professional skills) centred on strategy and performance systems
- Section B: Two 25-mark scenario questions (20 technical + 5 professional skills each)—one on performance reporting (C), one on data/technology (D)
What's changed for 2026–27?
Significant restructure. APM is the only Strategic paper with a genuine syllabus refresh for September 2026 to June 2027:
- The syllabus has been reorganised into clearer sections A–F
- Many learning outcomes have been consolidated or reworded; some deleted, several new outcomes added
- New or sharper focus on sustainability KPIs, Net Promoter Score, data science and performance in specific contexts
- Some models (e.g. BCG matrix, Porter's five forces, McKinsey 7S) removed or repositioned
What this means for you: Use materials written specifically for the 2026–27 APM syllabus structure, not pre-2026 notes.
APM study resources
For India (print books):
For global students (eBooks):
Live coaching:
Advanced Audit and Assurance (AAA – INT) syllabus 2026–27
AAA aim and capabilities
AAA trains you to analyse, evaluate and conclude on audit and assurance engagements under current standards, including non-audit assignments (due diligence, forensic, sustainability assurance).
Key capabilities:
- Understanding the regulatory environment, money-laundering laws and governance frameworks (Area A)
- Applying the Code of Ethics, addressing fraud and error, managing professional liability (Area B)
- Designing and evaluating quality management at firm and engagement level (Area C)
- Planning and performing audits—risks, materiality, evidence, group audits (Area D)
- Completing, reviewing and reporting—going concern, modified opinions, communication with TCWG (Area E)
- Handling other assurance assignments—due diligence, forensic, sustainability assurance, public-sector performance audits (Area F)
- Discussing current issues and developments in audit and assurance (Area G)
AAA high-level topic list
| Area | Topics covered |
|---|---|
| A | International audit frameworks, money laundering regulations, laws and regulations |
| B | Code of Ethics, fraud and error, professional liability |
| C | Systems of quality management (ISQM 1 & 2), fees and tenders, professional appointments |
| D | Audit planning, risk assessment, materiality, audit evidence, using the work of others, group audits |
| E | Subsequent events, going concern, completion review, auditors' reports, communication with those charged with governance |
| F | Audit-related services, due diligence, forensic engagements, public-sector performance information, sustainability assurance |
| G | Current issues—ethics developments, sustainability assurance standards, audit reforms, emerging technologies |
| H | Professional skills (communication, analysis, scepticism, commercial acumen) |
| I | Employability and technology skills |
AAA exam format
- Duration: 3 hours 15 minutes
- Section A: One 50-mark planning-stage case study (40 technical + 10 professional skills) around a single client or group, testing Areas A–D heavily
- Section B: Two compulsory 25-mark scenario questions—one always focuses on completion, review andreporting (Area E); the other can draw on any syllabus area including current issues or other assignments
- Questions are predominantly discursive, with some ratio/materiality calculations and evaluation of draft reports
What's changed for 2026–27?
No changes. ACCA confirms there have been no additions, deletions or amendments to the AAA-INT syllabus for September 2026 to June 2027. However, "current issues" content naturally evolves as new audit standards, ESG assurance practices and technologies emerge—so you still need fresh question practice.
AAA study resources
For India (print books):
For global students (eBooks):
Live coaching:
Summary: 2026–27 syllabus changes at a glance
| Paper | Syllabus changes for Sep 2026 – Jun 2027 |
|---|---|
| SBL | No changes—topics, weightings and exam format unchanged |
| SBR | Minor change—LO F1(c) raised to Level 3 (more evaluative questions on emerging reporting issues) |
| AFM | No changes—stable content and exam structure |
| APM | Significant restructure—syllabus reorganised into A–F; new LOs on sustainability, NPS, data science; some models removed/repositioned |
| AAA | No changes—topics unchanged, but current issues content evolves naturally |
How to build your Strategic Professional study plan
To pass at Strategic level, your preparation must be syllabus-anchored, skills-driven and resource-linked:
- Start with the official syllabus — Download the ACCA study guide for each paper and highlight the capabilities and topic weightings.
- Map every topic to concrete resources — Use ACCA-approved texts (print or eBook), question banks, and Eduyush BPP on-demand videos or live coaching sessions.
- Prioritise professional skills — At Strategic level, up to 20 marks depend on how you communicate, analyse and demonstrate commercial acumen. Books teach content; coaching shows you how to actually earn those marks.
- Build a realistic timeline — If you are sitting two papers per session, allow 200–250 study hours per paper. Use the ACCA Duration 2026: How Long Does ACCA Take? guide to plan your journey.
- Practise under exam conditions — The computer-based exam environment, spreadsheet tools and time pressure are unique at this level. Mock exams and CBE practice are essential.
Related reading on Eduyush
- Best Study Material for ACCA: A Comprehensive Guide
- ACCA Coaching vs Self-Study: Guide
- What is ACCA? Everything You Need to Know
Final word
The Strategic Professional level is where ACCA truly differentiates itself from other accounting qualifications. You are no longer just learning standards and techniques—you are applying them to realistic business scenarios, demonstrating professional judgement, and communicating recommendations at board level.
For the most current official documents, including any mid-cycle examinable-documents update, always cross-check the ACCA Global syllabus hub before finalising your study plan.
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Questions? Answers.
How many attempts do I have to pass the ACCA exam?
You have an unlimited number of attempts to pass the ACCA (Association of Chartered Certified Accountants) exams.
ACCA does not impose a limit on the number of times you can retake an exam.
You can keep attempting until you successfully pass each exam, which provides flexibility for candidates to learn and improve their performance over time.
Are there any exemptions available for ACCA exam?
Yes, ACCA offers exemptions for certain exams for candidates who have completed certain academic programs or have relevant professional qualifications.
To request exemptions, you will need to provide documentation and submit an exemption application to the ACCA. Review our comprehensive exemptions calculator to know more.
What is the passing rate for the ACCA exam?
The pass rate for the ACCA exams varies from exam to exam and from year to year. In general, the pass rate for the ACCA exams is between 35% to 50%. Read our blog on subject wise pass rates to know more.
Is ACCA after CA worth it?
The answer to this lies on your context and individual career objectives.
What are the benefits of being an ACCA member?
The ACCA (Association of Chartered Certified Accountants) membership provides numerous benefits, including:
- Professional development opportunities, such as access to the latest technical resources, CPD modules and e-learning tools
- A global community of like-minded professionals to collaborate and share knowledge with
- The ability to connect with employers through the ACCA Jobs service
- Eligibility for reduced rates on a range of products and services, such as insurance, stationery and more
What happens if you don't pay your annual subscription?
The consequences of non-payment of the annual subscription fees are
As a member:
1) you can't call yourself an ACCA member, and you won't be able to use the ACCA name or logo.
2) You also won't be able to use any resources, including the online resources.
3) if you're working as an accountant, you may be unable to use the term "ACCA-qualified" or "ACCA-registered".
4) If your membership expires and isn't renewed within three years. In that case, your name will be removed from the Register of Members.
5) If you need to apply for CPA accreditation with another accounting body like CPA Australia or Canada, you will be required to furnish a good standing certificate from ACCA for five years. If you haven't paid your membership fees, you won't be able to get your good standing letter
As a student
1) You will not be able to use the members' website or log into MyACCA. You will lose access to many resources, including past exam papers and helpful articles.
2) You will no longer be eligible to sit the examinations or progress through the qualification.
3) You won't be able to pursue any other qualifications like the DIPIFR
If this is something that happens accidentally, then it is usually quickly resolved by simply paying the outstanding amount of 89 GBP.
Is ACCA valued in the USA?
If you're looking to become a chartered accountant in the United States, the value of the ACCA qualification cannot be understated.
To be accepted into one of the regional accountancy bodies that confer chartered status (such as the AICPA), you must have completed an accredited course of study from a college or university and have spent at least two years working in the accounting field.
The Association of Chartered Certified Accountants is globally recognized as one of the leading institutions for providing such accredited courses, and their stamp of approval on your degree will go a long way in getting your foot in the door with some of the top accounting firms in America.
What is the better certification between CA, CFA & ACCA?
It is a difficult question because it depends on your specific situation and goals.
However, in general, we would say that the CA (Chartered Accountant) certification is better for those interested in pursuing a career in accounting and finance.
In comparison, the CFA (Certified Financial Analyst) certification is better for those interested in investment banking or portfolio management.
The ACCA (Association of Chartered Certified Accountants) certification is more internationally recognized than the CA or CFA, so it may be worth considering if you're interested in working abroad.
Ultimately, though, the best way to decide which certification is proper for you is to speak with experts in each field and get their advice.
Is ACCA better than a degree?
The decision of whether ACCA or a degree is better for you depends on your individual goals and circumstances.
ACCA is a professional accounting qualification that is recognized and respected globally and it is focused on accounting and finance. It is a good option for those who want to pursue a career in accounting or finance and do not want to spend the time and money required to earn a degree.
On the other hand, a degree program offers a more well-rounded education and provides a broader range of career options. It also provides more in-depth knowledge in specific field of study and it is good for those who want to pursue a career in a field outside of accounting and finance.
Both ACCA and a degree can be valuable qualifications, it depends on the person's career goals and what they want to achieve in the long term. It's also worth noting that in some countries, it is mandatory to have a degree in order to practice as an accountant.
Links to ACCA courses
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