F2 is one of the three papers that form the Knowledge base for your ACCA studies. Whilst Paper F1 – Accountant in Business gives you a broad overview of the role and function of the accountant, Papers F2 – Management Accounting and F3 – Financial Accounting give you technical knowledge at a fundamental level of the two major areas of accounting. Paper F2 will give you a good grounding in all the basic techniques you need to know in order to progress through the ACCA qualification and will help you with Papers F5 – Performance Management and P5 – Advanced Performance Management in particular.
The paper is examined by computer-based exam or a written exam consisting of objective test questions (mainly multiple-choice questions). You are not required, at this level, to demonstrate any written skills. However you will be required to demonstrate the following.
Core knowledge – classification and treatment of costs, accounting for overheads, budgeting and standard costing, decision-making.
Numerical and mathematical skills – regression analysis, linear programming.
Spreadsheet skills – the paper will test your understanding of what can be done with spreadsheets. This section will be particularly useful to you in the workplace.