The Association of Chartered Certified Accountants, or better known as the ACCA, is a globally known non-profit accountancy body. Founded in 1904, ACCA's core values for accountants have always included innovation, diversity, integrity, opportunity, and accountability. As of 2013, they have over 150,000 members and around 430,000 students in 170 countries. Their headquarters are located in London, United Kingdom and their principal administrative office is in Glasgow. They have 83 offices and 71 accountancy partnerships across the globe. The goal of ACCA is to empower accountants with the help of internationally known standards and regulatory approaches that are principle-based.
Brief History.
In 1904, 8 people founded the London Association of Accountants. The goal of the organisation has always been to provide more opportunities for people whose passion is in accounting and finance. In 1913, their first international office was established in South Africa, and it was in 1918 when membership became formalised through examinations. ACCA has undergone mergers over the years and in 1984, their name changed into the Chartered Association of Certified Accountants because they were then granted a Royal Charter of Incorporation. It was in 1996 when they had their final name change to Association of Chartered Certified Accountants. That year, ACCA launched a new syllabus which was based on the international standards of accounting: the very first international standards for its field.
Entry Requirements.
ACCA has developed a set of modules to test the aptitude of aspiring accountants, finance officers, and bank managers all over the world. These papers are divided into the Fundamental (F) level and the Professional (P) level. A person is eligible to apply in the ACCA program if s/he has 2 A-levels (Grade A-E, which means that s/he must at least have a passing grade) and 3 GCSE (Grade A-C, which means s/he must pass with a grade of C at the very least). English and Math must be included in these subjects. Another option for eligibility is to have a BA, BSc. or BCOM degree or take Foundation in Accounting (FIA) classes which are offered by ACCA.
How To Qualify.
Qualifying for the ACCA is no easy feat. Because the organisation wants to make sure that their members all over the world are equipped with fundamental and advanced accounting knowledge and skills, the training and membership process is quite rigorous. There are 14 exams for membership; 5 of which are mandatory while exemption is eligible for the remaining 9 exams. It also requires an applicant to have at least 3 years of work experience and familiarity with the Professional Ethics module.
Although the membership process may be difficult, the results are definitely rewarding. During the process, an applicant may gain a diploma and advanced diploma in business and accounting, and s/he may also receive a BSc Honours degree in Applied Accounting from the Oxford Brookes University. If you think you are ready for this challenge, you may first want to check your Math and English skills to gauge your overall preparedness to study with ACCA.
About The Examinations.
ACCA has around 400 exam centres across the globe, and the exams are scheduled twice a year (June and December). Each session, an applicant is allowed to take 4 exams and s/he has 10 years to accomplish his or her studies. S/he may be exempted from some exams if s/he has been deemed qualified in those aspects. The application covers business, taxation and law, ethics, management accounting, and financial statements.
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