ACCA is an international organization of professional accountants based in London. Aspiring accountants must pass 14 exams, meet experience requirements, and demonstrate an understanding of professional ethics. The program is flexible and can be completed in three to four years, with exemptions available for those with relevant degrees or experience. The exam process covers topics such as accounting, law, taxation, ethics, and business management.
The Association of Chartered Certified Accountants (ACCA) is an international organization of professional accountants based in London. The ACCA qualification is an education and examination process that provides aspiring accountants with a globally recognized professional standard in the field of accounting. To qualify, you will need to pass 14 different exams, meet experience requirements and demonstrate an understanding of professional ethics. On average, aspiring accountants will need three to four years to complete all requirements for ACCA qualification if they only meet the minimum enrollment requirements when applying. Those who already have accounting degrees and experience, however, can enter with advanced status and complete qualification requirements in significantly less time.
Future accountants new to the field will be able to enter the ACCA qualification program at the entry level if they have completed two A levels and three General Certificates of Secondary Education (GCSEs). Otherwise, prospective students will need to complete a fundamental accounting course first and may need to complete at least part of the A levels and GCSEs, or the Diploma in Accounting and Business offered by ACCA. Graduate students, however, with a degree from an ACCA-accredited university, can claim exemptions from the first nine exams. In some cases, ACCA may grant exemptions to students who hold a degree from a non-ACCA accredited university. The granting of waivers in such a situation is generally determined based on the suitability of a student’s courses to the ACCA curriculum.
Flexibility is part of the ACCA qualification program and is designed to meet the needs of mature students, although the program is open to anyone who meets the basic requirements. Completion times vary greatly between students due to various entry levels and individual situations, averaging three to four years, although ACCA allows up to ten years to obtain the qualification. Students can attend part-time courses during the day or evening, full-time or through distance learning. Additionally, as of 2011, ACCA has over 380 exam centers located across the world, allowing students to complete the program without being in the UK.
There are two levels in the exam process: Fundamentals and Professional. The fundamentals require the completion of nine modules and exams. The professional will require the completion of four modules and exams. Topics covered include basic and advanced business, managerial and financial accounting; corporate and commercial law; taxation, ethics and governance; business management, corporate reporting and business analysis; and assurance and audit. Thereafter, students must complete an ethics module and demonstrate three years of accounting experience to receive the ACCA qualification.
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