Association of Chartered Certified Accountants (ACCA)
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ACCA (the Association of Chartered Certified Accountants) is the largest and fastest-growing global professional accountancy body with 296,000 students and 115,000 members in 170 countries. We aim to offer the first choice qualifications to people of application, ability and ambition around the world who seek a rewarding career in accountancy, finance and management.
The Association of Chartered Certified Accountants (ACCA) exams are designed to meet the needs of those aiming for a career in accountancy, enhancing their knowledge, skills and professional competence.
Professional qualifications give you the tools, and confidence, to establish a really strong career in the field of your choice and significantly increase your earnings. It is recommended that upon completion of this course, students progress to the next Advanced Diploma level and subsequently finish the full ACCA Qualification.
Having completed the full ACCA qualification and gained the relevant practical experience, you will be able to display the ACCA letters after your name – an instantly recognizable badge, giving you the opportunity to choose where you work, in any sector in the world.
On completion of the Diploma candidates should be able to:
- Understand and explain the structure of the framework of international accounting
- Apply relevant financial reporting standards to key elements of financial reports
- Identify and apply disclosure requirements for companies in financial reports and notes
- Prepare group financial statements (excluding group cash-flow statements) including subsidiaries, associates and joint ventures.
The ACCA exams are divided into two levels: fundamental and professional.
|Fundamental levels||Professional levels|
|F1. Accountant in business||P1. Governance, risk and ethics|
|F2. Management accounting||P2. Corporate reporting|
|F3. Financial accounting||P3. Business analysis|
|Skills module||Options (two to be completed)|
|F4. Corporate and business law||P4. Advanced financial management|
|F5. Performance management||P5. Advanced performance management|
|F6. Taxation||P6. Advanced taxation|
|F7. Financial reporting||P7. Advanced audit and assurance|
|F8. Audit and assurance|
|F9. Financial management|
Minimum Entry Requirements
- Two A-Levels and three GCSEs (or their equivalent)
- These need to be in five separate subjects including English and Maths.
The ACCA qualification will enhance your career potential. It will increase your prospective earnings as well as provide you with a more flexible career, both in terms of the type of business sector as well as the geographic location.
Passing the ACCA is proof of your skills as a Chartered Certified Accountant and you will have an excellent knowledge of a broad spectrum of finance and accounting areas. You will join an elite group of accountants made up of over 500,000 students and members around the world and upon qualification as an ACCA member you will be entitled to use the letters ACCA after your name.
The ACCA examinations are divided into 2 levels: 1.The Fundamentals Level 2.The Professional Level
The “Fundamentals Level” includes 9 examinations, which are all available for exemption. It is divided into 2 modules:
(a) The Knowledge module:
It consists of 3 examinations and introduces trainees to the core areas of financial and management accounting.
- F1 Accountant in Business (AB)
- F2 Management Accounting (MA)
- F3 Financial Accounting (FA)
It consists of 6 examinations, which comprehensively cover the main technical areas that any accountant needs.
- F4 Corporate and Business Law (CL)
- F5 Performance Management (PM)
- F6 Taxation (TX)
- F7 Financial Reporting (FR)
- F8 Audit and Assurance (AA)
- F9 Financial Management (FM)
The “Professional Level” includes 5 examinations. It assesses the more advanced and sophisticated techniques that a professional needs, in order to specialize in specific areas at work.
This level is also divided into 2 modules:
(a)The Essentials module
- P1 Governance, Risk and Ethics (GRE)
- P2 Corporate Reporting (CR)
- P3 Business Analysis (BA)
(b) The Options module (2 examinations must be completed out of the 4 options)
- P4 Advanced Financial Management (AFM)
- P5 Advanced Performance Management (APM)
- P6 Advanced Taxation (ATX)
- P7 Advanced Audit and Assurance (AAA)
For more information regarding the ACCA examinations, please visit the ACCA website