What is a ACCA?
Founded in 1904, the Association of Chartered Certified Accountants (ACCA) is the global professional accounting body offering the Chartered Certified Accountant qualification (ACCA or FCCA). In March 2018, ACCA recorded that it has 208,000 members and 503,000 students in 179 countries. ACCA’s headquarters are in London with principal administrative office in Glasgow. ACCA works through a network of over 100 offices and centres and more than 7,300 Approved Employers worldwide, who provide employee development.
Chartered Certified Accountant is a legally protected term. Individuals who describe themselves as Chartered Certified Accountants must be members of ACCA and if they carry out public practice engagements, must comply with additional regulations such as holding a practising certificate, carrying liability insurance and submitting to inspections.
The Association of Authorised Public Accountants (AAPA), one of the British professional bodies for public accountants, has been a subsidiary of ACCA since 1996.
ACCA works in the public interest, assuring that its members are appropriately regulated. It promotes principles-based regulation. ACCA actively seeks to enhance the value of accounting in society through international research. It takes progressive stances on global issues to ensure accountancy as a profession continues to grow in reputation and influence.
ACCA offers a range of foundation-level certificates and diplomas – collectively referred to as Foundations in Accountancy – which provide an entry point for anyone new to accounting and finance and who doesn’t meet the minimum entry requirements for the ACCA Qualification (which is three GCSEs and 2 A Levels or equivalent, in five separate subjects). Students can start at any level within the Foundation level, but it is recommended that students without any formal academic qualifications start with the Introductory Certificate in Financial and Management Accounting and complete exams FA1, Recording Financial Transactions and MA1, Management Information; then progress to Intermediate Certificate in Financial and Management Accounting and complete exams FA2, Maintaining Financial Records and MA2, Managing Costs and Finance; before progressing to the Diploma in Accounting and Business and completing FAB, Accountant in Business, FMA, Management Accounting and FFA Financial Accounting. Students can use the Foundation-level awards as an entry route onto the ACCA Qualification. Students who complete the Diploma in Accounting and Business will be given exemption from the first three exams of the ACCA Qualification (F1, F2 and F3) and can start their studies on the ACCA Qualification with Paper F4, Corporate and Business Law.
ACCA-X online courses:
ACCA-X are online courses developed by ACCA for students starting their studies in accountancy and business. These courses are available for the first seven Foundations level exams and hosted on edX.org with content developed by Epigeum. In April 2016, ACCA-X won the Best eLearning and Online Education Award at the International and European Association Awards held in Berlin, Germany
ACCA Certified:
Once you have completed your ACCA Qualification by and passing your exams, along with three years’ practical experience and the Ethics and Professional Skills module, you will be invited to become an ACCA member. You will be able to use the ‘ACCA’ letters after your name.
Benefits of being an ACCA member
You will:
- improve your career progression and have the potential to earn a high salary
- be able to work anywhere you choose, internationally – because of our world-class reputation
- have flexibility in your career choice – you can work in any business sector from the financial services and public practice to the public and corporate sectors
- be part of a global professional body with a reputation for driving global standards of professionalism, ethics, integrity and accountability
- have access to a range of world-renowned technical materials and research as well as comprehensive resources designed to support your continuing professional development (CPD) including: – free access to accounting jobs adverts posted by top employers – free access to accounting and auditing standards – technical updates – access to exclusive online and face-to-face learning opportunities – further accountancy qualifications from ACCA, as well as from reputable academic and professional partners – other national accountancy bodies will recognise your member status.
- A deeper understanding of banking and changing customer expectations
Achieving fellowship
When you have been an ACCA member for five years and completed your CPD for that time, we will automatically award you the prestigious title of Fellow. You will receive a letter and a certificate to welcome you to your newly-awarded FCCA status.
The FCCA (Fellow Chartered and Certified Accountant) status shows employers that you have extensive experience and have made a long-term commitment to professionalism and ethics.