What is ACCA? The Association of Chartered Certified Accountants is a group based in the United Kingdom that offers qualifications to potential accountant applicants from all over the world.
Those who are seeking qualification from ACCA are required to pass a set of laborious examinations before they can be qualified. For the ACCA certification exams, all the technical theoretical aspects of management are covered. The programs offered by ACCA are similar to programs for Master of Business Administration or MBA, but the practical emphasis is significantly greater. With students located in over 170 countries, ACCA now has a network of 83 worldwide centres and offices. The qualifications being offered by ACCA are highly recognized in many different countries. The qualifications from ACCA are equivalent to what local universities are offering.
Difference Between ACCA Courses and CIMA Courses
CIMA or Chartered Institute of Management Accountants is a professional institute that offers globally recognized qualifications for management accountants. It is a London based institute that has students and members in over 183 countries around the world. The difference among the two is that CIMA offers courses that are focused on cover operations, business practices, change, relationship, and project management. As for ACCA courses, the ones offered focus on professional practice that covers corporate and non-corporate organization taxations, law, and external auditing. With regard to emphasis, courses offered by CIMA are focused on accounting techniques, applied management, and HRM or human resource management. ACCA courses have information systems as their main emphasis.
For applicants aged 21 and over, the necessary entry requirements must be presented when applying for the Mature Student Entry. There are two sitting dates for exams in ACCA courses. The first is every June, and the deadline for the exemption application is on or before January 31. For the second exam which is on December of each year, the deadline for the exemption application is on or before July31 of the same year.
For students who want to take examinations in ACCA Courses, the first requirement is to become a registered ACCA courses student. The next requirement is to sit or select specific exams with ACCA via ACCA courses. The deadlines for registration are as follows: on or before the end of December for the June exams in the following year; on or before mid-August for the December exams in the same year. To register for the sit exams, registration must be completed on or before April 15 for the June exams, and on or before October 15 for the December exams.
The Structure of ACCA Courses
The structure of ACCA courses is comprised of the following: Fundamentals level with 3 Knowledge Modules (Financial Accounting – FA, Management Accounting – MA, and Accountant in Business – AB) and 6 Skills Modules (Corporate Business Law – CL, Financial Reporting – FR, Audit and Assurance – AA, Taxation – TX, Performance Management – PM, and Financial Management – FM). The Professional Level has 3 Essentials Modules (Corporate Reporting – CR, Professional Accountant – PA, and Business Analysis – BA). The Options Module is comprised of Advanced Financial Management (AFM), Advanced Audit and Assurance (AAA), Advanced Taxation (AT), and Advanced Performance Management (APM). The Ethics Module is also required to be completed by the students who are studying for the ACCA qualification.