ACCA - Association of Chartered Certified Accountants [ACCA - online]
The Association of Chartered Certified Accountants (ACCA) is the global body for professional accountants, with over 147,000 members worldwide. The ACCA Qualification develops accounting knowledge and skills as well as professional values. This enables students to build successful careers as finance and management professionals in any sector. The ACCA Qualification prepares you to lead a successful career in accounting. It empowers you with information and insights that reflect the evolving times. This is why it emphasizes ethics, governance, codes of conduct, legislation, regulation, professionalism and values. Since the ACCA Qualification cultivates accounting knowledge, skills and professional values, adding the ACCA letters after your name is a recognized sign of excellence.
WHO IS IT FOR?
Anyone can pursue the ACCA Qualification. But your educational background will play a role in how many exam papers you will have to take. This makes it ideal for professionals already active in accounting and people keen on a career change. Accountants, auditors, financial advisors and consultants, finance managers, free-lancers, college and university students and particularly those who pursue a prosperous career as chartered, or in the finance function of any corporation.
It improves your career prospects and enhances your chances of promotion. It also shows employers that you will be a meaningful addition to the firm because of your in-depth knowledge of finance and accounting, including international accounting and auditing standards.
Qualified professionals have in-depth insight into tax, audit, business law, core accountancy subjects and more. Also, when firms opt to sponsor their staff in pursuing the ACCA Qualification, it motivates the team. It is also advantageous since it enhances the team's knowledge.
Successful completion of the 14 modules / papers. All levels must be completed in order (Knowledge - Skills - Essentials - Options) but you can do the papers within a level in the order you wish.
Exemptions from certain modules may be awarded by the ACCA on the basis of the candidate’s academic qualifications. Usually one up to five exemptions are awarded, depending on the relevance of the candidate’s degree (could be from a University, Technological institution, College affiliates)
Three years of relevant work experience - this could be acquired prior to, during or after the completion of your ACCA studies)
The completion of the “Professional Ethics Module” (e-learning and on-line assessment)
The length of time can vary depending on the exemptions awarded and the number of papers attempted in each exam session. There are four exam sessions each year, in December, March, June and in September*. During an exam session, you can opt for up to four papers. You can even do papers from two different levels but only if you are finishing the lower level. You have up to ten years to complete the Qualification. As exams are in English a good knowledge of the English language is required.
CBEs (Computer Based Exams)
CBEs (Computer Based Exams) are available for Papers F1, F2, F3, F4
* Note: from 2015-2016 ACCA may offer additional on-line exam sittings
The Applied Knowledge papers provide students with a broad introduction to the world of finance and develop their essential understanding and techniques in accounting. These papers are:
Accountant in Business (AB)
Management Accounting (MA)
Financial Accounting (FA)
The Applied Skills papers build on existing knowledge and understanding and develop strong, broad and practical finance skills required of future strategic professional accountant in any sector or industry. These papers are:
Corporate and Business Law (LW)
Performance Management (PM)
Financial Reporting (FR)
Audit and Assurance (AA)
Financial Management (FM)
The Strategic Professional papers prepare students for future leadership positions. They develop the strategic vision using your unique blend of technical, ethical and professional skills. And you can specialise in areas that best suit your career ambitions. Students must complete both Essentials papers and choose two of the Options. These papers are:
Strategic Business Leader (SBL)
Strategic Business Reporting (SBR)
Advanced Financial Management (AFM)
Advanced Performance Management (APM)
Advanced Taxation (ATX)
Advanced Audit and Assurance (AAA)
Ethics and Professional Skills Module
Students are required to complete ACCA's Ethics and Professional Skills module. By introducing students to the full spectrum of advanced ethical and professional skills and exposing them to realistic business situations, students are ready to perform in the workplace.
SOEL Joint Examination Schemes (JES)
ACCA has a number of partnerships with national accountancy bodies around the world which enables you to sit the exam component of a range of ACCA qualifications and also satisfies the exam criteria for the national accountancy body qualification. We call these SOEL (Σώμα Ορκωτών Ελεγκτών Λογιστών) Joint Examination Schemes (JES)
For more info about the ACCA and tuition / support for your exams:
info@StudySmart.gr and/or ask for a Skype coaching session for free.