ACCA Qualification

About

Study finance with ACCA to acquire skills and knowledge relevant to any business. ACCA has a strong focus on professional values, ethics and governance.

 

To qualify as an ACCA member, it is required to complete:

Exams - 14 exams

Experience - 36 months' experience in a relevant role

Ethics - the Professional Ethics module

Exams

ACCA offers flexible entry points. You may enter with or without prior qualification.

 

You need to complete 14 exams in total.

 

 

FUNDAMENTALS

 

The Fundamental Level subdivided as Knowledge and Skills modules teaches the essential financial and management accounting techniques, in addition to providing a strong, broad and practical knowledge of the world of finance. Studying at Fundamental Level gives a wide range of employment opportunities to choose from, such as finance trainee, trainee business analyst and trainee internal auditor. On completion of the Fundamental Level, students can progress to the Professional Level.

 

 

KNOWLEDGE

 

F1/FAB Accountant in Business

 

Develops knowledge and understanding of the business environment and the influence this has on how organisations and accountants operate, and of the role of the accountant and other key business functions in contributing to an efficient, effective and ethical organisation, and to build knowledge and understanding of the basic principles of effective management.

 

F2/FMA Management Accounting

 

Develops knowledge and understanding of how to prepare and process basic cost and quantitative information to support management in planning and decision-making in a variety of business contexts.

 

F3/FFA Financial Accounting

 

Develops knowledge and understanding of the underlying principles, concepts and regulations relating to financial accounting and technical proficiency in the use of double-entry accounting techniques. This includes the preparation of basic financial statements and basic consolidated financial statements and interpretation of financial statements.

 

 

SKILLS

 

F4  Corporate and Business Law

 

Develops knowledge and skills in the understanding of the general legal framework, and of specific legal areas relating to business, recognising the need to seek further specialist legal advice where necessary.

 

F5  Performance Management

 

Develops knowledge and skills in the application of management accounting techniques to quantitative and qualitative information for planning, decision-making, performance evaluation and control.

 

F6  Taxation

 

Develops knowledge and skills relating to the tax system as applicable to individuals, single companies, and groups of companies.

 

F7  Financial Reporting

 

Develops knowledge and skills in understanding and applying accounting standards and the theoretical framework in the preparation of financial statements of entities, including groups, and how to analyse and interpret those financial statements.

 

F8  Audit and Assurance

 

Develops knowledge and skills in the process of carrying out the assurance engagement and its application in the context of the professional regulatory framework.

 

F9  Financial Management

 

Develops knowledge and skills expected of a financial manager - relating to issues affecting investment, financing, and dividend policy decisions.

 

 

PROFESSIONAL

 

At the Professional Level which is subdivided as Essentials and Options modules, the dynamic skills and strategic vision that all great businesses and financial leaders need are learnt. It also gives the opportunity to specialise in areas that best suit career ambitions. It could lead to very senior positions such as a financial manager, chief financial officer or a partner in a professional firm.

 

Professional Level requires to undertake 5 exams and  1 ethics module. The exams include three compulsory courses of Governance, Risk and Ethics; Corporate Reporting; and Business Analysis and two further courses of choice that suit career ambitions from Advanced Financial Management; Advanced Performance Management; Advanced Taxation; or Advanced Audit and Assurance.

 

 

ESSENTIALS

 

P1  Governance, Risk and Ethics

 

The aim of the paper is to apply relevant knowledge, skills, and exercise professional judgement in carrying out the role of the accountant relating to governance, internal control, compliance, and the management of risk within an organisation - in the context of an overall ethical framework.

 

P2  Corporate Reporting

 

The aim is to apply knowledge, skills, and exercise professional judgement in the application and evaluation of financial reporting principles and practices in a range of business contexts and situations.

 

P3  Business Analysis

 

The exam aim is to apply relevant knowledge, skills, and exercise professional judgement in assessing strategic position, determining strategic choice, and implementing strategic action through business process and structural change, coordinating knowledge systems and information technology, and by managing quality processes, projects, and people.

 

 

OPTIONS

 

P4  Advanced Financial Management

 

The aim of the paper is to apply relevant knowledge, skills, and exercise professional judgement as expected of a senior financial executive or advisor, in taking or recommending decisions relating to the financial management of an organisation.

 

P5  Advanced Performance Management

 

The aim is to apply relevant knowledge, skills, and exercise professional judgement in selecting and applying strategic management accounting techniques in different business contexts and to contribute to the evaluation of the performance of an organisation and its strategic development.

 

P6  Advanced Taxation

 

The aim is to apply relevant knowledge, skills, and exercise professional judgement in providing relevant information and advice to individuals and businesses on the impact of the major taxes on financial decisions and situations.

 

P7  Advanced Audit Assurance

 

The exam aims to apply relevant knowledge, skills, and exercise professional judgement in analysing, evaluating, concluding and reporting on the assurance engagement and other audit and assurance issues in the context of best practice and current developments.

Experience

An essential part of becoming an ACCA Member is fulfilling the 36 months' practical experience requirement. ACCA trainees can work in any sector and size of organisation. It is important to look for the opportunities to help meet PER (Practical Experience requirement) and to obtain a total of 36 months' experience in a relevant role or roles. Ideally, this means that having a job where the majority of the time is spent on activities and tasks that are accounting, finance, audit and assurance related, or in other related technical areas such as taxation, insolvency and forensics. It is also important that the work is appropriately supervised.

 

Experience can be gained prior to registering with ACCA, while studying for the exams and/or after having completed the exams.

Ethics

Values, ethics and governance are essential skills for finance professionals. It is important to ACCA to ensure all students understand what it means to work and act professionally and ethically in the workplace.   As part of your ethical development, it is required to complete the Professional Ethics Module. This will give an exposure to a range of ethical perspectives.

Qualifications

Diploma in Accounting and Business in 6 months

 

Obtained after completion of the Fundamentals Knowledge Module and professionalism in ethics module.

 

Advanced Diploma in Accounting and Business in 18 months

 

Advanced Diploma in Accounting & Business: Takes the knowledge further with the next six papers: Corporate and Business Law; Performance Management; Taxation; Financial Reporting; Audit and Assurance; and Financial Management. An online ethics module, Professional Ethics to be taken.

 

BSc in Applied Accounting by Oxford Brookes University of United Kingdom in 18 months

 

A degree programme which has been created in partnership with Oxford Brookes University. Holding both a professional accounting qualification and an accounting degree is a powerful combination that can greatly increase employment opportunities with employers. ACCA students can obtain the degree after completing the advanced diploma and submitting a research and analysis projects to the Oxford Brooks University.

 

ACCA Professional Qualification in 2½ years

 

On completion of the Professional Level the student will be eligible to apply for ACCA Membership provided the relevant experience criteria is met.

Exemptions

Exemptions can be obtained from ACCA exams based on relevant prior qualifications. A maximum of nine exams are available for exemptions. Check your eligibility for exemptions on  ACCA Exemptions Calculator.

Link

Learn more about ACCA

Why ACCA

Why chose accountancy and finance?

 

Every organisation’s success is immensely dependent on a comprehensive approach to financial management. Accountancy is one of the most diverse professions, with opportunities across all sectors and industries, and in all parts of the world.

 

Accountancy offers exceptional job prospects and excellent self-employment opportunities. Accountancy can be extremely rewarding attracting high value salaries and benefits packages. It creates reputation by being part of a prestigious profession that is respected and trusted by organisations and communities.


Why ACCA?

 

ACCA (the Association of Chartered Certified Accountants) is the global body for professional accountants. ACCA aims to offer business-relevant, first-choice qualifications to people of application, ability and ambition around the world who seek a rewarding career in accountancy, finance and management.

 

Founded in 1904, ACCA has consistently held unique core values: opportunity, diversity, innovation, integrity and accountability.

 

ACCA supports 162,000 members and 428,000 students in 173 countries, through a network of 89 offices and centres and more than 8,500 Approved Employers worldwide.

 

ACCA qualifications are recognised and recommended around the world. Based on International

Accounting Standards and independently benchmarked for quality, employers know that an ACCA qualification is a mark of professional excellence.

Getting started

ACCA could be commenced with 3 credit passes in O/Levels (including Maths and English) and 2 credit passes in A/Levels or alternatively one could enrol with pending O/L and A/L results through our FIA (Foundation in Accountancy) suite of qualifications.

 

Up to 9 subjects of the Fundamental Level could be exempted based on a relevant degree from an university accredited by ACCA.

Neptune Edification (NEP) the Learning Experience Destination is the Premier ACCA Learning Provider and the Licensed Computer Based Exam Centre for ACCA qualification in Kandy. Running the successful 5th year operations and having taught over 350 students since inception, NEP has continuously recorded high enrolment rates for ACCA programmes,  maintain and deliver students with high pass rates during the past 15 exam sessions and produced several Srilankan prize winners. With core values such as professionalism and integrity based on ethics, authenticity, accountability and trust NEP has today rapidly grown into a professional organisation of repute.

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Last updated: 19 Jul 2017

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