The acronym, ACCA, is recognized by accountants around the world. Unfortunately, if you belong to the majority of Singaporeans who are not aware of the specifications of this abbreviation, this article is specially prepared to provide you and the general public of the facts about ACCA.
Dual nature. ACCA stands for the Association of Chartered Certified Accountants which is a professional body of accounting practitioners and students. The Association governs, regulates and implements the qualification procedure for Chartered Certified Accountants. In recent years, however, the Chartered Certified Accountant title obtained the nickname, ACCA, similar with the professional body that offers it. Consequently, once you hear ACCA, it may refer to the Association or the title bestowed to qualified accountants. The title being defined here is a globally respected label that can be obtained once accountants pass a series of written and practical examinations. Since the title is highly revered, strict qualifications procedures is implemented. Fortunately, the acca course in singapore provides students with the necessary modules and practical experience and prepares the students for the ACCA accreditation examination.
Historical overview. Started in 1904 by eight English accountants, the Association received its ‘royal charter’ designation from Queen Elizabeth II in 1974. In 1998, the syllabus of ACCA became the basis of the United Nations’ global curriculum for accountancy. From its roots in the United Kingdom, the organization has branched out throughout the globe by having accredited American ACCA colleges, acca singapore school and also African partner institutions. At present, ACCA is one of the largest and most respected professional organizations in the world.
Mission. The Association of Chartered Certified Accountants works with the public interest in mind. The Association is committed to provide quality and truthful accountants who will uphold ethical, professional and leadership standards. The Association also taps its members to participate in global and political issues.
Core values. The core values of the Association are encapsulated into five ideologies: opportunity, innovation, diversity, integrity and accountability.
The qualification. To be a Chartered Certified Accountant, an accountant must pass a minimum of five of 14 examinations which cover management accounting, taxation, financial management, audit and assurance and business analysis among the others. Next, a candidate accountant must possess at least 36 months of professional accountancy experience. Lastly, the candidate must also complete the Professional Ethics module.
Partner organizations. The Association has partnered with various universities worldwide to ensure that accountancy students will receive lessons that are aligned with the curriculum of ACCA. Also, the Association also permits the admission of student members who are encouraged to prepare for the Chartered Certified Accountant title. Once they obtain the label, the Association provides access to related professionals through its network of universities, businesses and professional organizations.
The Association and the title, which are both called ACCA, offer numerous advantages to any accountant. Knowing these facts will help an employer and the public of the capability of an ACCA member and certified accountant.