Accountancy is one of the most prestigious courses that a person may choose for his future career or profession. It is also a course that is known for its complicated nature as it involves analysis and communication skills. That is why the level of education provided for accountancy students is also exceptional in order for them to meet the qualification standards enforced by the accountant organizations. In England, there was one association build to serve as the main organization for all British accountants. This organization is the FCCA.
What Is FCCA?
FCCA or Fellow Chartered Certified Accountant is the designation awarded by the Association of Chartered Certified Accountants for all British qualified accountants. Though FCCA is based in UK, it is still considered as a global body for all professional accountants. At present, FCCA has more than 147,000 qualified members and more than 424,000 students globally. FCCA also has support centres or offices based in 83 countries. All members of ACCA who has post-qualification experience of above five years and has completed the necessary professional development can already be designated as Fellows and use FCCA after their name. The term chartered refers Royal Charter, which was granted by Queen Elizabeth II of UK. FCCA members are working in the field of finance and business. Some FCCA are engaged in public practice while some are working in the private sector or working under government bodies. FCCA who are engaged in public practice is required to meet the terms of an added regulation including being insured for possible claims of liability, holds practicing certificate and submits to inspection.
Entry Requirements For FCCA.
For a person to be recognized as a FCCA member, the person must have earned a degree for greater opportunity in entering the profession, and have studied for the ACCA qualification to become an ACCA member. Subjects such as economics, mathematics, management or business, or finance or accounting can be taken to help the person in obtaining a role in FCCA. The minimum requirement to become FCCA includes HND or degree from a recognized institution in any subject, at least 2 A-levels and 3 GCESs or an equivalent of 5 separate subjects taken including mathematics and English. For those people who wish to enter the field of accountancy yet don't have formal academic qualifications, they can choose from the 5 entry level qualifications to pursue a career in accountancy.
Roles Of FCCA.
The main role of a FCCA is to ensure and maximize the efficiency, profitability and value of money in behalf of their client or an employer by assessment of business possibilities. FCCA can also provide management consultancy service. FCCA carries and performs lots of activities every day. The activities of a FCCA includes financial statement and business plan preparation, reviewing and adapting both new and existing financial controls and systems, regular audits, expenditure investment, payroll, and credit management. The roles of FCCA also include creating forecasts and financial plans, implementation of new budgetary and financial systems and policies when necessary. Managing colleagues and business terms negotiation are also some of the roles of FCCA members.
FCCA is not only a simple global body established to manage and implement standards for professional accountants, but it is also an organization that serves and offers diverse and challenging opportunities for all FCCA members.
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