ACCA AFM Exam Guide 2025: Easy Prep Tips and Study Plan

If you’re planning to become a finance leader, you must have heard of the Advanced Financial Management paper to qualify for the ACCA qualification. This certification is awarded by the Association of Chartered Certified Accountants, a globally recognised organisation. This examination will evaluate your capability to make suggestions on complex financial and management accounting matters like business valuation, investment appraisal, working capital management, risk management, and even strategic decisions.

In this blog, you will gain information about the structure of the exam, a study plan and the syllabus. It also provides tips to pass the ACCA AFM exam. Observing all these steps will enable you to study the ACCA courses with confidence, increase the possibility of passing the exam, and also allow you to use your time well.

Understand the ACCA AFM Exam Structure

Is the AFM exam hard? It is known to be quite challenging, with a pass rate of only 45%. This means that most students are struggling to pass and prepare properly for the ACCA exam. Before you prepare for the ACCA AFM paper, you need to know what you will expect on the actual exam day. The AFM exam has a duration of 3 hours and 15 minutes. There are no multiple-choice questions in AFM. It's a completely computer-based examination, which is divided into two different sections: 

•   Section A - 50 Marks: This section consists of a single case study where you have to demonstrate the technical skills, which are 40 marks, and professional skills, which are 10 marks.
• Section B - 50 Marks: In this section of the ACCA AFM exam, you will encounter two crucial questions, each of which is worth 25 marks. Each question includes 20 technical marks and 5 professional skills marks, totalling 10 professional skills marks in this section.
• All 100 marks get weighted equally, so you shouldn’t focus just on computations. You should describe your reasoning professionally and properly. Once you know this format, it will help you properly practise the correct question types and also enable you to manage the ACCA AFM exam time well. This will help you pass the ACCA Advanced Financial Management exam.
• Key Syllabus Areas in Financial Management

AFM is part of the Strategic Professional level of the ACCA qualification. It builds upon the FM syllabus or F9 of the Applied Skills section. Candidates require a solid understanding of current issues, industry trends, corporate finance, and the business environment. This includes:

• Management of International Finance and Trade
• Responsibility and Role of Senior Financial Executive
• Treasury and Advanced Risk Management Techniques
• Governance and Ethical Issues
• Strategic Business and Financial Planning for Multinationals
• Financial Strategy Formulation
• Advanced Investment Appraisal
  

Every financial management exam question can easily draw on two of these syllabus topics, specifically in Section A’s case study. Section B will delve deeply into one or two topics, primarily focusing on mergers and acquisitions or investment appraisal. So, you should use the ACCA AFM exam syllabus PDF to review all the learning outcomes and topic weightings. 

Build a Strong ACCA Study Plan for 2025

Here are some of the ways you should create the AFM revision plan: 

1. Begin Early

Consider spending 8 weeks to 10 weeks right before you sit for the examination. Begin early, as it will give you time to learn about every topic and also review all the tricky sections.

2. Divide Topics by Weeks

Another great ACCA exam strategy is to separate all topics by weeks. This makes it more manageable.

3. Mix Practice and Theory 

Read the articles carefully, especially the technical articles. After that, you can solve the past exam questions and all the exam-style practice questions. This will help improve your theoretical knowledge and enable you to practice applying it in real-world scenarios.

4. Weekly Review Sessions

To make sure you do well in the ACCA AFM exam, you should spend 2 hours every Sunday studying what you have studied that week. This repetition will solidify your understanding and also highlight any gaps early.

Create a Daily AFM Revision Schedule

The table below is a daily routine that you can easily adapt for your AFM study:

 

Time Slot	Activity
6:00 AM – 7:00 AM	Read one syllabus topic and take notes
8:00 PM  – 9:00 PM	Solve case study questions for one section
9:00 PM – 9:30 PM	Review key formulas and definitions
9:30 PM – 10:00 PM	Self-quiz and evaluate professional marks.

The Morning Session: When you’re creating an ACCA study guide, you should use the morning time for theory recall and reading when the mind is fresh.

• The Evening Session: This session is perfect for writing down answers and practising calculations for the examinations. 
  
  

Note: Don’t forget to include rest days and short breaks to avoid burnout.

Master Exam Strategy with Expert Tips

Here are some smart ACCA AFM exam techniques to boost your chances of success:

• Read the Question Carefully: In Section A, underline command verbs like “evaluate,” “recommend,” or “compare.” This tells you exactly what examiners expect.
• Plan Your Answer: Spend 5 minutes outlining your response, especially in Section A. Use headings and prepare a quick bullet-point plan to prevent you from missing key analysis and evaluations.
• Balance Technical and Professional Skills: Allocate roughly 80% of your time to technical calculations and 20% to the professional skills part. If you leave the narrative until the end, you risk running out of time.
• Show Your Working: Always include formulas and intermediate steps. Even if your final number is slightly off, clear working can earn you method marks.
  

Smart Techniques for Exam Time Management

• Time pressure is a real challenge in the ACCA AFM exam. Try these tricks:
• Timed Practice: Do past questions with a timer set to 80% of the allotted time. If a 25-mark question is worth 45 minutes,practice in 36 minutes. This builds speed on exam day.
• Prioritise: Scan all Section B questions at the start. Answer the one you’re most confident in first, then tackle the other. This ensures you secure marks easily.
• Keep an Eye on the Clock: Use on-screen timers or ask the invigilator for time updates at the halfway mark.
• Allocated Time for Review: Plan to finish each section with 5 minutes to spare. This will help you in problem-solving. Use this time to check calculations, refine your answers, and correct any mistakes.

Conclusion

Passing the ACCA AFM examination is possible if you have detailed knowledge about the exam structure, smart exam techniques and a proper study plan. Just like the CMA US exam preparation, you should begin early, cover all the syllabus areas, practice the previous exam papers under timed conditions and polish your professional and technical skills to be able to clear the exam.

If you need a community of ACCA candidates, approved learning media like BPP, expert tutors, exam kit and customised support, you should consider NorthStar Academy. We help you make informed decisions and help you prepare for all exam challenges. We also offer US CMA courses, CPA US courses, and Enrolled Agent courses.