ACCA stands for Association of Chartered Certified Accountants. Based out of UK, ACCA is an international accountancy body with more than 200000 members and 500000 students in 179 countries. It was formed in 1904 and carries with it a rich history. It is headquartered in London and has operations in 180 countries. It has hundred offices and more than 7000 employees around the world. Chartered Certified Accountant is one of the major professional qualifications given by the ACCA. It is considered as a desirable qualification for young professionals and students, given the numerous benefits associated with it. After the completion of the exams and relevant experience, you will become a member of ACCA.
ACCA Qualification is respected and recognized all across the globe. Due to the nature of the qualification, the professional mode of study and the certification’s repute ACCA’s are in high demand in numerous industries such as banking, auditing, consultancy as well as other professions like taxation and law etc.
Along with Acca you can gain additional qualifications, such as:
• A Bachelor of Science in Applied Accounting(Oxford Brookes) which is centered on the needs of employers for practical, professional accounting – BSc (Hons)
• A Masters in Professional Accountancy (University of London) designed to broaden business understanding and enhance strategic decision making – (MSc)
Applied Knowledge
The Applied Knowledge exams provides students with a broad introduction to the world of finance and develop your essential understanding and techniques in accounting. These exams are:
- Accountant in Business (AB)
- Management Accounting (MA)
- Financial Accounting (FA)
Skills
Comprising modules LW to FM , this module examines the principle technical subjects that you’re expected to have an advanced understanding of. These subjects include law, taxation, auditing and financial management, financial reporting and performance management. You will develop knowledge and skills in these subject areas, reaching a level of knowledge equivalent to a Bachelor’s degree.
- LW Corporate and Business Law
- PM Performance Management
- TX Taxation
- FR Financial Reporting
- AA Audit & Assurance
- FM Financial Management
Essentials
This module is called Essentials as it will provide you with the specialised skills and techniques required to become an expert accountant, either in a consultancy or high-level advisory role. Each of the 2 ACCA papers is assessed with a 3-hour paper-based exam.
- SBL Strategic Business Leader
- SBR Strategic Business Reporting
Options Choose any 2 from 4
- AFM Advanced Financial Management
- APM Advanced Performance Management
- ATX Advanced Taxation
- AAA Advanced Audit & Assurance (UK or International)
- 2 passes at GCE/VCE A Level (grades A-E) plus 3 passes at GCSE/Vocational GCSE/GCE O Level (grades A-C or 1-6) in 5 separate subjects including English and Mathematics.
- (Intermediate Examinations/ Higher School Certificate at 50% or above can be accepted as a substitute for O Levels)
- All modules must be sat in order
- Maximum of four papers to be taken in one sitting
- Papers within a module may be sat in any order but ACCA recommends that they should be sat in numerical order
- Papers from a variety of levels may be sat at any one time. i.e. Knowledge and Skills or Skills and Essentials
- The three Essentials ACCA papers do not have to be sat together
- Students have 10 years to pass all the examinations. From early 2016 students will have 7 years to pass the exams at Professional level (SBL and SBR and two of the options paper AFM – AAA). The 7 year time limit starts when a student passes their first Professional level exam
- The pass mark for all examinations is 50%
- In addition to the above 13 papers, students are required to study and sit an on-line module in Professional ethics. It is recommended that this is studied at the same time as SBL
- Practical experience required
