A chartered accountant is figured to be one of the most difficult pursuing degrees in academics career; the ever-increasing industries, whether small scale or large scale, demand a person to manage, control, and rectify their accounts. Thus the development of increasing scope in the accountancy department leads to the formation of the Association of Chartered Certified Accountants (ACCA) institutes in the year 1904 at the globalized level.
One of the major reasons for the establishment of the ACCA is a major amount of opportunity being created in the accounts and finance department. The organization is one of the fastest-growing accountancy organization with approximately 2,00,000 members and 4,86,000 students from across 180 and above countries. The flexibility in the examination scheme makes it a more quality-oriented program that can also be covered along with any regular graduation programs.
Development of ACCA
The scope of development has opened a larger chunk of the population to consider ACCA course and adhere to certain qualities and improvements –
- The often improvised syllabus is covering the practical as well as theoretical aspects of industrial knowledge, skills, and values required.
- Conducting a set of 14 examination series to cross-check the credibility of the degree holder
- The total cost covered is not more than three lakhs, which is considered to be reasonable enough in comparison to other courses opted.
- Holding more than 80 international accountancy body partnership and recognized over more than 78 markets globally gives weightage to the economic value.
Additional Educational Qualification
The students pursuing ACCA course have a more effective knowledge holding a more illustrative form of qualifications such as –
- Earning an ACCA member status with a diploma and advance diplomas in accounting and business
- A degree of B.SC (Hons) degree in applied accounting is awarded to the candidates of ACCA course by Oxford Brookes University
- An M.SC degree in professional accountancy provided by university of London
A multiplied job variety is linked to the ACCA course, along with the best quality of knowledge. The diversified syllabus trains the candidate for innumerable job roles along with task-oriented aesthetics of the ACCA course.
The stardom of the ACCA course is associated with its now being spread across 180 and above countries. Its members have got advantages in the multinational companies/KPO’s which bring their associations a clear growth in their career value.
Different roles through ACCA course
- Internal Auditor
- Forensic accountant
- Compliance/Governance officer
- Management Accountant
- Chief financial officer
- Group Accountant
- Business Analyst
- Business advisor
- Tax accountant
- Risk manager
- Credit control manager
- Insolvency practitioner
- Funds manager
- Financial analyst
For a person to be accredited by ACCA certain qualifications, have to be met
- To clear and attempt all the 13 conducted examinations
- A necessary 36 months of practical knowledge as a key role in any industry either between, before or after the course completion
- The key module of ethics and professional skill shall be completed
The levels of examinations have been differentiated under certain levels they are –
- F1-Business Accounting
- F2-Management Accounting
- F3-Financial Accounting
- F4-Corporate and Business Law
- F5-Performance Management
- F7-Financial Reporting
- F8-Audit and Assurance
- F9-Financial Management
- Strategic Business Leader (SBL)
- Strategic Business Reporting (SBR)
Options (Any two from 4)
- P4-Advanced Financial Management (AFM)
- P5-Advanced Performance Management (APM)
- P6-Advanced Taxation (ATX)
- P7-Advanced Audit and Assurance (AAA)
Indian Development Of ACCA Course
In a larger number, the popular industries are into hiring the members associated with ACCA, being the brand name. Thus these ACCA degree holders are having diversified career goals and charge eventually more than the nominal amount.
The CA and ACCA in India are being offered the most valuable posts in companies like Tata Communications, Deloitte, KPMG, and many more in terms of salary packages, designation, and job profiles, thus enhancing the value of these professionals.
Ans. No, ACCA is not difficult than CA. The flexibility in the ACCA exam makes it easier like a higher passing percentage, averaging around 40% globally for the ACCA exams.
Ans. ACCA stands for Association of Chartered Certified Accountants, it is a global professional accounting body offering the Chartered Certified Accountant qualification.
Ans. ACCA or Association of Chartered Certified Accountants is a professional body whose members and students are across the world in 170 countries and it works in the interest of the public, and its members.
Ans. You can complete ACCA exam within 2 years, but you need at least 3 years of practical experience for becoming a member. After completing that you will be a qualified accountant, and it takes a minimum of three years to complete.
Ans. As ACCA is a UK based degree which increases the cost of the degree. ACCA comprises of the registration fee, exam fee, and subscription fee.