If you have an ACCA Strategic Business Reporting (SBR) exam coming up, are thinking about enrolling, or want to resit, you should keep reading.
Before we begin, it's important to understand that ACCA Strategic Business Reporting (SBR) comes in two flavors: International Paper and UK and Ireland Paper. These are pertinent to the reporting standards you're studying. This guide will make use of the International Paper.
The syllabus's structure, format, and majority remain unaffected. You can choose the exam you want to take based on the standards that are most relevant to your profession. More details about the ACCA variant exams can be found here.
Overview
The ACCA Strategic Business Reporting (SBR) course teaches you how to apply your business reporting knowledge, skills, and professional judgment. You'll learn how to properly prepare reports and communicate business reporting principles and concepts to stakeholders.
The goal is to know corporate reporting inside and out and to be able to effectively communicate that knowledge to other business leaders. Scroll down to the syllabus section of this guide to learn more about ACCA Strategic Business Reporting (SBR).
ACCA Strategic Business Reporting is one of two Strategic Professional Essentials papers in your ACCA course (SBR).
The ACCA exams are taken in module order, with the modules becoming more complex as you progress. Strategic Business Reporting is the ACCA's most advanced level, and you should already have a wealth of supporting knowledge and skills – either from the ACCA or, if you have exemptions, from prior study. We also recommend that you complete your Ethics and Professional Skills module before taking ACCA Strategic Business Reporting (SBR).
Although modules must be completed in order, exams within each module can be taken in any order. At the Strategic Professional level, this isn't always the order you'd expect.
That’s for two reasons.
(1) There are numerous benefits to taking the other Essential Strategic Professional paper, ACCA Strategic Business Leader (SBL), as your final or near-final exam. Because much of the information in Strategic Business Leader has already been covered in previous modules, deferring this exam will put you in a better position to pass.
(2) ACCA Strategic Business Reporting (SBR) will almost certainly be your first Strategic Professional paper – and, depending on exemptions, your first ACCA paper as well.
As a result, this paper has the potential to be a major wake-up call. Look at the most recent pass rates for Strategic Professional exams to see how SBR performed in its first outing:
A common analogy is the brain surgeon.
Would you want someone who failed nearly half of their professional medical exams to perform surgery on you tomorrow?
The answer is emphatically no, which is one compelling reason to strive for more than the bare minimum on ACCA Strategic Business Reporting (SBR).
There's a significant mental shift going on here. The ACCA isn't just a hurdle you must clear in order to advance in your career. It is not something that can be outwitted or hacked. It is related to your future professional career.
Everything you learn on the ACCA Strategic Business Reporting (SBR) and other papers is directly related to the professional you will become, the value you will add, the money you will earn, and the path you will take in your career.
Sure, getting a pass with an average grade is great news. But, if you have big ambitions and want to achieve great things in your career, why would you settle for scraping by?
People who excel in their ACCA exams are much more likely to excel in their subsequent careers, though there are always exceptions.
So go ahead and play that role. Not the one who scribbled the numbers 50 and 51 on every scrap of paper.
And the good news is that we are here to help. Continue reading to learn how to master ACCA Strategic Business Reporting (SBR).
Exam Format
Except for Strategic Business Leader, all of the Strategic Professional (Essentials and Options) papers follow the same format. ACCA Strategic Business Reporting (SBR) takes three hours and fifteen minutes to complete, and the pass mark is 50 percent, as it is for all other ACCA exams. The ACCA Strategic Business Reporting (SBR) exam is currently only available on paper.
The ACCA Strategic Business Reporting (SBR) exam is worth 100 points and is divided into two sections of two questions each; all four questions must be answered. Out of this total, four professional marks are available. We'll show you how to get them in the exam technique section of this guide.
Let's break those sections down because the ACCA provides helpful guidance on which syllabus areas are covered in each.
Section A
Section A contains two scenario questions worth 50 points each. The first question will almost certainly concern the financial statements of group entities, with some discussion of financial reporting thrown in for good measure. That corresponds to syllabus areas D and C, respectively; we'll go over the syllabus in greater detail later in this guide.
The second question will revolve around the ethical and reporting implications of specific events in the scenario you've been given. There are two professional marks available for this question.
Section B
Section B consists of two 25-point questions that can be based on a scenario, a case study, or an essay. In whatever format they choose, there will be elements of calculation and discussion.
Section B is more comprehensive than Section A, and you could be tested on any topic covered in the curriculum. However, there will always be a full or partial question on the appraisal of financial or non-financial data from the perspective of the preparer or other stakeholder.
There are two professional marks available for section B. We'll go over how to approach these exam questions later in this guide.
Syllabus Guide
ACCA Strategic Business Reporting (SBR) is a more comprehensive version of ACCA Corporate Reporting that ensures you can explain and communicate the implications of transactions and reporting to a wide range of stakeholders.
Remember the required exam technique, which we'll go over in greater detail later in this guide: the emphasis on written analysis over calculations.
As we've written elsewhere in our Ultimate Guide series, these subjects are intended to align the ACCA qualification more closely with the direct needs of employers.
The strategic accountant of today must be able to communicate with other stakeholders throughout the organization, understand and represent finance in a broader business context, and have a thorough understanding of ethics.
According to the ACCA, the purpose of the paper is to:
"To discuss, apply, and evaluate the concepts, principles, and practices that underpin corporate report preparation and interpretation in a variety of contexts, including the ethical evaluation of management stewardship and the information needs of a diverse group of stakeholders."
You'll learn how to question, evaluate, and challenge proposed accounting treatments, as well as business reporting concepts, theories, and principles. Good scripts will make it easy to relate professional issues to real-world scenarios and concepts you've already learned.
To pass ACCA Strategic Business Reporting (SBR), you must first understand the Conceptual Framework, which lays out the concepts upon which International Financial Reporting Standards (IFRS) are based.
You must be able to confidently discuss the framework's consistency for each IFRS that is examined. As the integrated reporting framework lays the groundwork for a new reporting model, expect questions about how it relates to corporate reporting.
On the practical side, you'll need to know how to prepare and present financial statements in accordance with current accounting principles. However, because this is not a purely practical or calculation-based exam, evaluation is a critical component of ACCA Strategic Business Reporting (SBR).
To accomplish this, you'll need both professional and ethical judgment, as well as technical knowledge. ACCA Strategic Business Reporting (SBR) is more than just a test of your syllabus knowledge. It assesses your ability to apply the curriculum in a business setting while conversing with other professionals.
To respond to the question, you'll frequently need to take a stand. This point of view could come from either an external or internal stakeholder. In any case, you must demonstrate your ability to communicate effectively depending on the situation and with whom you are speaking.
You'll be able to apply what you've learned so far because ACCA Strategic Business Reporting (SBR) is linked to other ACCA exams.
This can be seen in Financial Reporting (previously F7) and even Financial Accounting (previously F3). There's also an indirect link to Advanced Audit and Assurance (previously P7), so if you're thinking about Advanced Audit and Assurance as an Options paper, it'll most likely come after ACCA Strategic Business Reporting (SBR).
Here’s a diagram from the ACCA:
The ACCA Global SBR study and syllabus guide organizes six key learning objectives for ACCA Strategic Business Reporting (SBR) from A to F.
Main capabilities:
Candidates should be able to do the following: Candidates who successfully complete this paper should be able to:
- Examine the ramifications of unethical behavior and apply fundamental ethical and professional principles to ethical quandaries.
- Examine the suitability of the financial reporting framework and critically discuss changes in accounting regulations.
- Use professional judgment when reporting the financial performance of various entities. The learning outcomes in Section C of the syllabus can benefit individuals, groups, public sector entities, and non-profit entities.
- Make financial statements for a group of companies.
- Interpret financial statements for various stakeholders.
- Communicate the impact of changes in accounting regulation on financial reporting.
Study Tips
This section looks at the best ways to study for the ACCA Strategic Business Reporting (SBR) exam in order to improve your chances of passing.
If you've taken the previous Applied Knowledge and Applied Skills papers, you should have a good idea of how to structure your study time. Having said that, this may be your first exam, and certainly one of your first at this level, so read these tips again.
Particularly if you want to obtain your ACCA Strategic Business Reporting (SBR) certification for the first time (of course you do).
#1 – Refresh previous papers – especially if you had exemptions
ACCA Strategic Business Reporting (SBR), as previously stated, is closely related to two other ACCA papers: Financial Reporting (previously F7) and Financial Accounting (previously F3). It's worth going over the previous syllabuses again to ensure you understand the assumed knowledge from these papers.
This is true even if you were granted exemptions on these documents. You may have covered the material at a similar level prior to enrolling in ACCA Strategic Business Reporting (SBR), but you may not have covered the same areas in the same depth.
One of the most common reasons for ACCA exam failure is that the paper assumes foundational knowledge that some students lack. Nothing is more frustrating than discovering halfway through an exam that you have forgotten previous important concepts.
#2 – Leave at least 12 weeks
Because each student is unique, the ACCA does not recommend a set amount of study time. That is correct, so take this advice with a grain of salt... If you think you'll need less than 12 weeks, you should reconsider.
In our experience, even the best students struggle to learn everything in less than 12 weeks, because after revision, practice questions, and mock exams, you're left with only a few weeks to study.
We do not recommend that students prepare adequately for the earlier papers in less than 12 weeks. These exams, however, are extremely difficult at the Strategic Professional level, and the syllabus is extensive.
Consider how many students fail this exam and don't think you're immune. The only way to stand out or be immune is to study harder and in the proper manner, which means not rushing through your studies in order to finish sooner.
We've previously stated that this is a false economy because you're more likely to fail, and then you'll have to add another 12-weeks on top of that (because hopefully you'll do it correctly the second time and have 12 weeks to study).
To put it another way... It will take you 12 weeks to complete ACCA Strategic Business Reporting (SBR) the first time. If you fail after 8 weeks of study, it is because you did not pay attention. It will take you 20 weeks to finish. That brings us nicely to the next point...
#3 – Don’t combine papers
When we say 12-weeks, we mean this specific paper. You may believe that studying two papers in one sitting will help you pass the ACCA more quickly, but this is a waste of time.
You don't want to fail both and have to start from scratch. And, once again, you want to get it right the next time, so you'll need another 12-weeks for each – a total of 24 weeks if you pass the first time.
We recommend only taking one paper per sitting, especially since there are four sittings per year. That appears to be the least stressful and quickest way to pass ACCA Strategic Business Reporting (SBR), with the highest chances of passing on the first try.
What if you need more evidence? Kelly Crawford, a Learnsignal student, placed joint first in Ireland and 11th worldwide in Audit and Assurance (despite having all of her papers so far in the 70s and 80s), and she was unequivocal:
"I start studying two to three months before an exam, and I only take one exam at a time, so a couple of hours a day is doable." I rarely study during the day because I work during the week and spend my weekends with my family."
Kelly's method may appear to be more time-consuming, but she will most likely pass four ACCA exams per year with minimal stress and disruption, all while working and raising a young family. This is a strategy we wholeheartedly support.
#4 – Study the full syllabus
We've said it a thousand times, but students fail every single time because they missed parts of the syllabus. Even if it appears insignificant, it can mean the difference between receiving or leaving a mark – and in an exam with hundreds of students seated at 49, 50, and 51, that one mark can mean the difference between passing and failing.
Because ACCA Strategic Business Reporting (SBR) only has mandatory questions, there is no way out if you discover you don't know something. You can't avoid it if you don't know – and a guess isn't good enough in a written paper.
You don't want to open the paper and discover that one section you skimmed is a major focus, trust us on this.
So go over the entire syllabus, down to the smallest detail, until you're completely comfortable. There is no reason to fail because it is so simple: if you are taking an ACCA exam, you must know the material.
#5 – Structure your study
We say it for every paper, and it applies equally to ACCA Strategic Business Reporting (SBR): you'll need a study strategy. This will help you focus your time and be disciplined in completing all of the tasks on time.
We recommend completing the ACCA Strategic Business Reporting (SBR) syllabus in nine weeks, with three weeks for revision, practice questions, and a mock exam. The ACCA recommends devoting an additional six weeks to revision and final preparation. The main goal is to finish the syllabus as quickly as possible so that you can move on to questions and revisions.
It's best to take the mock exam within the first ten days or so of your revision period so you can identify and revise problem areas based on your mock results.
#6 – Practice makes perfect
Forgive the cliche, but the most effective way to learn ACCA Strategic Business Reporting is to practice, practice, practice (SBR).
That should start on the first day of your studies, not after you finish them. It will not help if you continue to make notes. Instead, test your knowledge on a regular basis to force yourself to recall and remember information. (This is known as retrieval practice, which is the idea that repeated self-testing improves memory significantly.)
#7 – Understand how and where you learn best
People learn in various ways, at various times, in various locations, and using various strategies. Determine what works best for you and stick with it. Otherwise, you're trying to cram a square peg into a round hole.
Setting aside 12-weeks for studying is pointless unless you make good use of that time. You could go on vacation for 100 weeks, but if you don't collect data, you won't be able to pass the ACCA Strategic Business Reporting (SBR) exam.
So stick to what you're comfortable with. If you're unsure, experiment with new approaches, but stick to what works rather than what you enjoy.
Integrating study into your daily life is essential, especially if you work while studying.
#8 – Take your real-world blinkers off
Current accounting regulations and potential changes are specifically addressed in ACCA Strategic Business Reporting (SBR) Syllabus Area F, so you must be aware of them. Certainly, the examiners will be, and they will make every effort to include elements of questions that address current issues. They will also favor scripts that make reference to current events or issues.
The issue is, as previously stated, that this isn't just an exam. The ACCA introduced this updated Strategic Professional level to explicitly align your skills to the real-world skills that will best serve you – and the organizations you work with – in your career.
Knowing what's going on in the world that may have an impact on you and your decisions, as well as the business and business decisions? In today's world, adding value as a strategic accountant is critical.
So, when studying for the ACCA Strategic Business Reporting (SBR) paper, or any other paper, make sure you don't close your eyes to the real world. You should be involved in the larger business world.
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