Association of Chartered Certified Accountants
Association of Chartered Certified Accountants (ACCA) is a global accounting body which offers “Certified Chartered Accountant” certification. This course can be taken parallel with the student’s degree programs like B.Com, BBA etc. With an ACCA qualification, an individual can work as an accountant, financial consultant, management consultant, financial planner etc.
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All about the course
ACCA consists of 13 papers overall which is divided into three broad levels - Applied Knowledge, Applied Skills, and Strategic Professional. ACCA must be completed in a maximum of 7 years.
ACCA Knowledge Level
Candidate needs a minimum of 50 per cent to pass each paper. If he passes one subject, he doesn't have to give it again in case he fails another paper in the same module.
ACCA Professional Level
Professional level of ACCA is equivalent to a masters degree. Once one has successfully completed their exams, ethics module, and work experience and applied for ACCA membership, one will be able to use the 'ACCA' letters after their name and commence their career as a professional accountant.
ACCA Skill Level
ACCA Skill Level examines the principle technical subjects that one is expected to have an advanced understanding of. Through these subjects one will develop knowledge and skill of law, taxation, auditing and financial management, financial reporting and performance management.
36 months of work experience
Candidate is required to complete three years relevant work experience and achieve 9 performance objectives to help demonstrate to potential employers that they can apply their knowledge in the workplace and have practical skills. One can gain practical experience before, during or after they complete their exams. The Ethics and Professional Skills module is also required.
Performance objectives are the benchmarks of effective performance. They describe the types of work activities that one will be involved with as trainee accountants. They also outline the values and attitudes one should demonstrate. Candidate is required to achieve 9 performance objectives divided into three parts, namely, description, elements and statement.
Member of ACCA
It is essential to clear all modules of the ACCA Qualification to be eligible for membership from reputed institute. This helps in increase one's employability and workplace effectiveness.
Ethics and Professional Skills Module
It is an essential step to ACCA membership but it is also a crucial support tool for the Strategic Professional exams. The module uses realistic business simulations to develop a number of professional skills such as leadership, communication and commercial awareness.