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What is ACCA?
ACCA is a professional accountancy education. ACCA full form or ACCA stands for the association of charted certified accountants. It is a global professional body situated in the Glasgow United Kingdom. It was founded in 1904. ACCA Global is operating in almost 170 plus countries
ACCA Full Form : Association of Charted Certified Accountant
How can apply for ACCA
As per ACCA Proof of identification such as driver’s license, passport or birth certificate. Official translations of any documents not in English, stamped by a licensed translator who is authorized and qualified to provide translation services. If applying to study our ACCA qualification, you will need to upload evidence that you meet our minimum entry requirements. One of the following payment methods, Master Card, Visa Card, Paypal, American Express Alipay
Minimum Qualification for registration of ACCA is 2 passes at GCE/VCE A-Level (grades A-E or 9-4) plus 3 passes at GCSE/Vocational GCSE/GCE O Level (grades A-C or 1-6) in 5 separate subjects including English and Mathematics.
(Intermediate Examinations/ Higher School Certificate at 50% or above can be accepted as a substitute for O Levels)
What About ACCA Qualification
There are mainly 3 Stages of ACCA Qualification, These Basic, Intermediate and Professional`
Basic Stages have 3 papers, Previously these were known as F1, F2, and F3. In this Stage students come to know about the bookkeeping, Management system and basics of Accounting Standards. Which Enable the students to understand the Accounting basics especially for recording the journal entries with the help of Golden Rules of accounting.
Applied Skills exams
In the intermediate stage, Students comes to know about the Types of Businesses, Types of Companies, Business formation, Like, Partners, Directors, About Business management, how to manage the business, Tax, Audit, and Financial Reporting.
- Corporate and Business Law (LW)
- Performance Management (PM)
- Taxation (TX)
- Financial reporting (FR)
- Audit and Assurance (AA)
- Financial Management (FM)
This professional stage or implementation stage, where students are trained to get the knowledge in depth. This has two stages; one is compulsory and second give two papers options out of 4 papers for qualifying ACCA.
Essentials Stage has the following two papers
- Strategic Business Leader (SBL)
- Strategic Business Reporting (SBR)
4 Optional Papers are as mentioned below
These exams offer the unique opportunity to specialize in areas of greatest relevance to a chosen sector or career path.
- Advanced Financial Management (AFM)
- Advanced Performance Management (APM)
- Advanced Taxation (ATX)
- Advanced Audit and Assurance (AAA)
Practice: as like other charted accountancy bodies, the student should also have 3-year practice in the relevant and authorized firm, institutes for becoming the affiliate of ACCA.
What is the fee structure for ACCA Students?
- Initial Registration Fees 79£
- Re-Registration fee 79£
- Annual Subscription
- Applied Knowledge Module papers fee is 76£ of each paper
- Applied Skills knowledge module paper fees are 108 £ of each paper in case of late that is 277£
- Ethics and Professional Skills Module fee is 60£
- Strategic Professional Essential papers fees are 190£ of each paper
- Strategic Professional Optional Papers fee is 136£ of each Paper
The exam is held 4 times in a year, March, June, September and in December
What are the Acca Modules?
ACCA papers are classified into three modules or stages for passing the exams and one for Professional Skills. These are mentioned below
- Applied Knowledge
- Applied Skills
- Strategic Professional (Essentials and Optional)
- Ethics and Professional Skills Module
Only in the United Kingdom and Ireland ACCA member can conduct the audit or have full charter as other bodies have in accountancy. For other countries, they have to meet their local government rules and regulations for work for the public interest.