Chartered Certified Accountant

Chartered Certified Accountant

Type	British qualified accountants
Industry	Accountancy and Finance
Founded	[England, UK] (1904)
Headquarters	London, [England, UK]
Subsidiaries	The Association of Authorised Public Accountants (AAPA)
Website	www.accaglobal.com

Accounting

Historical cost Constant purchasing power Management Tax
Major types Auditing Cost Forensic Financial Fund Governmental Management Social Tax
Key concepts Accounting period Accrual Constant purchasing power Economic entity Fair value Going concern Historical cost Matching principle Materiality Revenue recognition Unit of account
Selected accounts Assets Cash Cost of goods sold Depreciation / Amortization Equity Expenses Goodwill Liabilities Profit Revenue
Accounting standards Generally-accepted principles Generally-accepted auditing standards Convergence International Financial Reporting Standards International Standards on Auditing Management Accounting Principles
Financial statements Annual report Balance sheet Cash-flow Equity Income Management discussion Notes to the financial statements
Bookkeeping Bank reconciliation Debits and credits Double-entry system FIFO and LIFO Journal Ledger / General ledger T accounts Trial balance
Auditing Financial Internal Firms Report
People and organizations Accountants Accounting organizations Luca Pacioli
Development History Research Positive accounting Sarbanes–Oxley Act
Business portal

Chartered Certified Accountant (designatory letters ACCA or FCCA) was historically seen as a British qualified accountant designation awarded by the Association of Chartered Certified Accountants (ACCA). However, although ACCA is UK based, it is a global body for professional accountants with 170,000 qualified members and 436,000 students globally. Support offices/centres exist in 91 countries.^[1]

The term Chartered Certified Accountant was introduced in 1996. Prior to that date, ACCA members were known as Certified Accountant. It is still permissible for an ACCA member to use this term. Members of ACCA with post-qualification experience of more than five years and have completed the required continued professional development are designated Fellows, and use the designatory letters FCCA in place of ACCA.

The term Chartered refers to the Royal Charter granted by Her Majesty Queen Elizabeth II of the United Kingdom.

Chartered Certified Accountants work in all fields of business and finance. Some are engaged in public practice work, others work in the private sector and some are employed by government bodies.

Since Chartered Certified Accountant is a legally protected term, individuals who describe themselves as such must be members of ACCA. If they carry out public practice engagements, they must comply with additional regulations such as holding a practising certificate, being insured against any possible liability claims and submitting to inspections.

Syllabus

The current syllabus is made up of 14 examinations, although some exemptions are available. The papers are split into two levels:

The fundamental level: 9 examinations consisting of
- F1 - Accountant in Business
- F2 - Management Accounting
- F3 - Financial Accounting
- F4 - Corporate and Business Law
- F5 - Performance Management
- F6 - Taxation
- F7 - Financial Reporting
- F8 - Audit and Assurance
- F9 - Financial Management
The Professional level - 5 examinations:
- three compulsory papers:
  - P1 - Governance, Risk & Ethics
  - P2 - Corporate Reporting
  - P3 - Business Analysis
- four optional papers, of which two must be selected:
  - P4 - Advanced Financial Management
  - P5 - Advanced Performance Management
  - P6 - Advanced Taxation
  - P7 - Advanced Audit and Assurance

References

External links

This article is issued from Wikipedia - version of the 9/27/2016. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.

Chartered Certified Accountant

Syllabus

See also

References

External links