The History of ACCA
What is ACCA? The Association of Chartered Certified Accountants (ACCA) has, for 100 years, stood as the international body for professional accountants representing the industry's dedication to the highest levels of ethics, professional standards, and governance.
The organisation has also designed specific qualifications for you to practice within the finance, management and accountancy sectors. They have now established a global membership in excess of 140,000 who have been enabled to operate with confidence and affectivity thanks to their ACCA accreditation.
ACCA have a long standing tradition of collaboration with other professional organisations such as The International Federation of Accountants (IFAC), as well as associated donor agencies and governmental bodies. This cooperation has ensured a pooled resource of experience and expertise which has enabled the development of high level global accountancy applications to all sectors of the industry.
ACCA Ethos, Reputation and Standards
With a reputation for diversity and innovation, integrity and responsibility, employers that recruit you with the ACCA qualification can be assured that you will possess the knowledge and skills to meet any current and future challenges which they may face within their finance role.
The expertise provided by ACCA accreditation is applicable to both the public and private sectors with 63,000 members operating in global SME environments. Whether the organisation is large or small, all ACCA graduates are advocates for sustainable development, best practice operations and believe in the ethos of implementing value drivers for performance enhancement and optimal productivity.
The ACCA Qualification
Eligibility for acceptance to the ACCA study programme requires you to have a minimum academic achievement of two A levels and three GCSEs; English and Maths are compulsory requirements.
If you are in possession of a relevant degree from an ACCA accredited university, then you will also be accepted and may be eligible for exemption from studying certain modules from the course. You must be able to demonstrate a minimum of three years work experience in a relevant finance based application for admittance to study.
ACCA membership is achieved through the successful completion of 14 exam papers from the modular programme. Nine of the papers are eligible for exemption enabling candidates with the appropriate qualifications to study a minimum of five. It is compulsory for you to study and complete the Professional Ethics Module.
The two-tier course structure includes the Level 1 Fundamentals and Knowledge and the Level 2 Professional.
ACCA Level 1
Topics studied in the Level 1 module are:
• The Accountant in Business
• Management Accounting
• Financial Accounting
• Corporation and Business Law
• Performance Management
• Financial Reporting
• Audit and Assurance, and
• Financial Management
ACCA Level 2
The Level 2 Professional module requires you to complete a total of five papers.
The three compulsory elements are:
1. Governance, Ethics and Risk
2. Corporate Reporting, and
3. Business Analysis
You may then select two elements from the following electives:
• Advanced Financial Management
• Advanced Performance Management
• Advanced Taxation
• Advanced Audit and Assurance
In addition, you must complete the stand-alone Professional Ethics module, which is seen to be at the very heart of the ACCA qualification.
Studying for the ACCA Qualification
There are a number of ACCA accredited course providers who provide flexible study options to follow the qualification programme. You may prefer a full-time classroom based course or a part-time weekday or evening model. If you have employment or family commitments, a distance learning or weekend programme may be more suited to your lifestyle.
Although most candidates qualify for ACCA membership within three to four years, there is a time limit of 10 years from initial registration to final completion of the exams. This may be of advantage to those who find that they need to take a break from study for a period of time and then re-apply themselves when they feel ready.
ACCA charge a fee for each exam paper which you will sit and have three rates for Early, Standard or Late registration.
Costs for the December 2012 assessments start from:
• £60 (early), £69 (standard), £200 (late) for the Knowledge papers.
• £75 (early), £86 (standard), £217 (late) for the Skills papers.
• £88 (early), £101 (standard), £231 (late) for the Professional papers.
You are also asked to pay an initial ACCA registration fee from £77 and an annual ACCA subscription of £77.