ASSOCIATION OF CHARTERED CERTIFIED ACCOUNTANTS(ACCA)
13 Nov 2020
The Association of Chartered Certified Accountants (ACCA) is one of the oldest and globally recognized professional body that offers The Chartered Certified Accountant qualification. The ACCA qualification offers the students the most up-to-date skills which are required by them to become a financial professional. The ethics and values required to make a difference by the students are threaded throughout the whole journey. The member’s part of this becomes exceptionally valuable to the employers as they complete 36 months of hands-on professional experience.
ACCA Qualification: The entire qualification work is divided into three stages of exams with add on Professional skills and ethics module and a Professional Experience experiment.
· Three stages of Exams:
1. Applied Knowledge: Here, the students would get an exceptional understanding and introduction to the world of Accounting and Finance. These exams provide a broad understanding of fundamental Accounting Techniques to the students.
Ø BT (Business and Technology)
Ø MA (Management Accounting)
Ø FA (Financial Accounting)
2. Applied Skills: The existing knowledge and understanding are used as a base of foundation here. The AS (Applied skills) develops broad, strong, and practical financial qualities which are required in a future strategic professional accountant in the industry.
Ø LW (Corporate and Business Law)
Ø PM (Performance Management)
Ø TX (Taxation)
Ø FR (Financial Reporting)
Ø AA (Audit and Assurance)
Ø FM (Financial Management)
3. Strategic Professional: A new standard is set by integrating broad, deep, and technical expertise along with ethics and professional skills. Every element is set by considering the real world, therefore the students would be well-prepared to handle all the difficulties and challenges they face at the workplace with ACCA. The SP (Strategic Professional) exams comprise of Essentials and Options Exams
Ø Essentials: Provides skills required to make an immediate impact on employers. Students have to take both exams.
§ SBL ( Strategic Business Leader)
§ SBR (Strategic Business Reporting)
Ø Options: This exam provides an opportunity to specialize in the greatest relevant areas of the chosen career path.
§ AFM (Advanced Financial Management)
§ APM (Advanced Performance Management)
§ ATX (Advanced Taxation)
§ AAA (Advanced Audit and Assurance)
· Practical Experience: The thing which makes ACCA so valuable is the real-world experience exposure that it provides. The ACCAs Practical Experiment Requirement helps the students to convert the theory they’ve learned into practice in a supported environment.
· Professional Skills and Ethics: This module is designed to build a complete set of skills that the industry demands. The students are introduced to the full spectrum of advanced professional skills and ethical knowledge plus exposure to the real business situation which will help them to be credible at the workplace.
What is ACCA Course?
· Formed in 1904, ACCA, is an international accounting professional body which offers the “Chartered Certified Accountant” qualification. It is an international accountancy organization with 4,86,000 students in 180 countries and 2,00,000 members.
· ACCA course has updated or industry-relevant content and education are also globally recognized, making ACCA qualification the best path in building a career in Accounts and Finance.
· The desired students can pursue this parallel to their graduation.
· Students enrolling in ACCA can:
Ø Earn a Diploma or Advance Diploma in Business and Accounting and can proceed to earn an ACCA member status.
Ø Earn a BSc Degree in AA (Applied Accounting) which would be awarded by OBU (Oxford Brookes University)
Ø Earn a Master’s Degree (MSc) in Professional accountancy awarded by the University of London.
5 Tips to prepare for ACCA exams
· Start with The Study Guide, a useful resource.
· Focus on Syllabus and based on that prepare a study pattern
· Analyze previous year’s papers to master exam technique and technical practice
· Go through the “Examiners Approach module” on ACCAs official website, it will give you a brief insight of expected answers by examiners.
· Make use of ACCAs Official Website Resources.
· Global Recognition: ACCA is globally recognized in over 78 markets and has 80+ international partnership Accountancy bodies.
· Credibility: As the proficiency of students is tested through various rigorous exams, it gives a great edge to the resume and communicates the credibility in a better manner.
· Well Structured Curriculum: The syllabus of this course keeps on updating as per industry standards which helps to develop industry-relevant skills, knowledge, and professional values.
· Career: The long-term career is a major benefit of ACCA, as it trains the students to perform all the strategic roles at a senior level of management.
· Cost: The total cost goes up to, 2 to 3 lakh which is cheaper than other options available.
Five things that ensure trust and bright career prospects for aspirants with ACCA
· ACCA has global recognition and employers around the globe trust ACCA.
· No matter what career path you choose success would be guaranteed with competitive salaries.
· ACCA makes sure the students are imbibed with skill sets. Skills are the key to survival in the race of fittest.
· No prior qualifications are mandatory, you can start at your level.
· ACCA is designed for today’s mobile audience. ACCA is well aware of how desirable flexibility is so it makes sure that people can study even from a remote corner.