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Why Is The ACCA Course Important?

"Obtaining an internationally recognized professional qualification such as ACCA creates tremendous opportunities worldwide, enabling you to progress your career and rise to the top." - Rosanna Choi, Partner at CWCC.

ACCA is one of the top accounting qualifications in the world and is known to be important for a variety of reasons. Check out the following article to know all about the ACCA course.

What is ACCA?

The Association of Chartered Certified Accountants (ACCA) is a professional body for accountants that is based in the UK. It is one of the foremost accountancy organizations worldwide, and has over 200,000 members and 500,000 students.

After successfully passing the set of exams, you can have a prosperous career in accounting or finance. The ACCA qualification is highly sought after in management, banking and consulting fields. Once you are ACCA qualified, you have to pay $408 CAD for registration and annual subscription each (ACCA Global).

There are three main components of ACCA as discussed below:

• Exams: you have to take 14 exams to pass the course, but there are certain exemptions that you could apply for. These ACCA exemptions depend on your qualifications.

• Work Experience: In order to qualify to be an ACCA member, you also need to have at least 36 months of pertinent work experience.

• Ethics: this is an additional facet of the ACCA course. You have to study and pass the Professional Ethics module to qualify.

If you are interested in pursuing a career in accounting, banking or finance then you should apply to ACCA to become a member. While applying, you need to produce supporting documents such as:

• Qualification proof such as certificates and transcripts;
• Identity proof such as driver license or passport;
• Passport photographs.

Another prerequisite of applying to ACCA is that you should have graduated from secondary school having studied at least five subjects, which needs to include mathematics and English.

Once you register with ACCA after paying the $137 CAD registration fee, you will be provided with study materials and learning aids to help you study for the exams. These study materials include:

• Study tips and hacks;
• ACCA syllabus guide;
• ACCA papers and articles with respect to important subjects and modules;
• A mobile app that provides key learning points and helps in planning your studies;
• ACCA past papers.

Once registered, you can also access the ACCA learning community. This platform allows you to connect with students and experts across the world, which can help you to obtain advice and knowledge.

ACCA also provides you with opportunities for opting for tuition to study for the exams. This can be carried out in two ways, as explained below:

• Online Learning: you can opt for the online learning program which is more popularly known as ACCA-X. The ACCA modules here are delivered by qualified digital instructors.

• Authorized Training Partners: even though there are multiple ACCA training centres present, you should only approach an authorized training centre. This is because these training centres are guided by ACCA on how to support and tutor you effectively. These authorized training partners also are provided with exclusive access to ACCA resources.

ACCA has foundation-level and fundamental-level exams. The exam fees for the foundation-level exam is $135 CAD. The ACCA exam fees for the fundamental-level is approximately $537 CAD.

ACCA has computer-based exams (CBE) and you get the results immediately upon completion. These exams can be taken in over 400 licensed computer-based exam (CBE) centres across 170 countries. ACCA exam dates are not fixed, but they are always held in March, June, September and December.

 What is the syllabus for ACCA?

The ACCA syllabus consists of 14 papers that are categorized into four groups and a further three levels.
The three papers that you will have to study as part of the knowledge level are:

• AB: Accountant in Business;
• MA: Management Accounting;
• FA: Financial Accounting.

The skill level consists of six papers, including:

• CL: Corporate and Business Law;
• PM: Performance Management;
• TX: Taxation;
• FR: Financial Reporting (UK or International);
• AA: Audit & Assurance (UK or International);
• FM: Financial Management.

The essentials level has three papers, which are:

• GR&E: Governance, Risk and Ethics;
• CR: Corporate Reporting (UK or International);
• BA: Business Analysis.

In this group, you have to opt for two papers from a total of four. The options available to you are:

• AFM: Advanced Financial Management;
• APM: Advanced Performance Management;
• ATX: Advanced Taxation;
• AAA: Advanced Audit & Assurance (UK or International).

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