ACCA publishes global pass rates for every exam after each session. Unlike the CFA, where all candidates in a window sit the same exam, ACCA rates vary widely from paper to paper. That makes them genuinely useful for planning which exams to take, in what order and with what support. Every ACCA exam has a pass mark of 50%.
Applied Skills pass rates
| Exam | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|
| PM Performance Management | 40% | 45% | 41% | 42% |
| TX Taxation | 55% | 53% | 55% | 54% |
| FR Financial Reporting | 51% | 50% | 52% | 49% |
| AA Audit and Assurance | 46% | 43% | 47% | 45% |
| FM Financial Management | 48% | 50% | 48% | 47% |
Strategic Professional pass rates
| Exam | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|
| SBL Strategic Business Leader | 50% | 52% | 51% | 53% |
| SBR Strategic Business Reporting | 48% | 50% | 47% | 50% |
| AFM Advanced Financial Management | 45% | 44% | 47% | 47% |
| APM Advanced Performance Management | 41% | 40% | 42% | 41% |
| ATX Advanced Taxation | 50% | 50% | 47% | 53% |
| AAA Advanced Audit and Assurance | 38% | 42% | 39% | 42% |
On-demand exams: BT, MA, FA and LW
These exams can be taken at any time, so ACCA reports their pass rates over longer periods instead of by session.
| Exam | Period to Dec 2025 | Period to Jun 2026 |
|---|---|---|
| BT Business and Technology | 87% | 89% |
| MA Management Accounting | 64% | 65% |
| FA Financial Accounting | 68% | 71% |
| LW Corporate and Business Law | 82% | 82% |
Higher pass rates here partly reflect the format: on-demand exams let you book only when you feel ready, and many students retake quickly after a near miss.
What the numbers say about each paper
- PM is the toughest Applied Skills paper. It consistently sits around 40–45%, mostly because it rewards applying techniques to scenarios rather than calculation alone.
- TX and FR are the most predictable. Both hover around 50–55% and reward steady question practice.
- AAA and APM are the hardest options. Choose them because your career needs them, not by default.
- SBL is not as frightening as its reputation. At 50–53%, it passes more often than several options, because exam technique can be learned.
Which ACCA exams to sit together
Pass rate tables cannot tell you which papers to pair, but the syllabus links between them can. Sitting linked papers in the same or consecutive sessions lets one revision effort serve both.
| Pairing | Why it works |
|---|---|
| FR then SBR | SBR builds directly on FR. Sit SBR while FR is still fresh. |
| AA then AAA | AAA assumes strong AA knowledge. A long gap makes it much harder. |
| TX then ATX | Tax rules change each year, so a short gap keeps you on the same rules. |
| FM then AFM | AFM extends FM techniques into more complex corporate finance. |
| PM then APM | Both are about performance, and APM is easier with PM thinking still current. |
Timing note for 2027: June 2027 is the last session for the current Applied Skills and Strategic Professional exams. Avoid planning a first attempt at a session-based paper for that sitting. See our ACCA 2027 changes guide.
How to use pass rates in your plan
- Budget extra study time, and possibly paid tuition, for PM, AA and your chosen option if it is APM or AAA.
- Pair a lower-pass-rate paper with a more predictable one in the same session, such as PM with TX.
- Plan for at least one retake across the qualification. The ACCA cost calculator lets you add one to your budget.
Frequently asked questions
What is the hardest ACCA exam?
By pass rate, Performance Management (PM) is the hardest Applied Skills paper, at around 40–45% in recent sessions. At Strategic Professional, APM and AAA have the lowest pass rates, usually around 38–42%.
What is the easiest ACCA exam?
Business and Technology (BT) has the highest pass rate, close to 90%, followed by LW at around 82%. Both are on-demand exams taken early in the qualification.
What were the ACCA pass rates for September 2026?
September 2026 global pass rates were PM 42%, TX 54%, FR 49%, AA 45%, FM 47%, SBL 53%, SBR 50%, AFM 47%, APM 41%, ATX 53% and AAA 42%.
Why are BT, MA, FA and LW pass rates not shown for every session?
These are on-demand exams that can be taken at any time, so ACCA reports their pass rates over longer periods rather than for each quarterly session.
What score do you need to pass an ACCA exam?
The pass mark for every ACCA exam is 50%.