Do you know what is the ACCA Full Form? The Association of Chartered Certified Accountants also known as ACCA is a global professional accounting body that offers the recognized industry qualification in finance, accounting and business. The ACCA is a prestigious organization that provides career opportunities for aspiring accountants worldwide.
The qualification acquired through the ACCA is recognized to be globally transferable. There is a lot of significance attached to the ACCA degree since it prepares accountants equipped with comprehensive knowledge of both accounting principles and financial management practices. By gaining the ACCA qualification, one can expect to be proficient in corporate ethics, governance and risk management. These are significant aspects of any financial professional, and this is the reason why the ACCA has global recognition.
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What is the ACCA Full Form?
ACCA Full Form – Association of Chartered Certified Accountants
What is ACCA?
ACCA holders are valued professionals who are experts in financial analysis, management accounts and financial reporting, and tax. They possess knowledge of finance, Audit, Risk and strategy, which directly reflects the role of leaders particularly in corporate countries. The ACCA has earned its position as the industry-preferred certification standard.
History of ACCA
The ACCA was founded in 1904, and it’s headquartered in London, UK. It has a network of more than 2.33 lakh regular members and 5.36 lakh potential members employed in many countries. The organization has a proud history, offering a global standard of qualification and professional ethics for the last 100 years. Having an ACCA degree is the best way to highlight competence and credibility in the field of accounting because its recognition is worldwide.
ACCA Eligibility: Requirements, Admission Process, Syllabus, Exams, and Exemptions
Are you interested in pursuing the ACCA course? Before getting started, you must be aware of the eligibility requirements, admission process, syllabus, exams, and exemptions. In this article, we will provide you with all the essential information you need to know about the ACCA course.
ACCA Eligibility Requirements
To be eligible for the ACCA course, you must meet the following requirements:
- You must be at least 18 years of age or above.
- You must have completed your 10+2 as the minimum qualification.
- You must have scored a minimum of 65% marks in Accounts/Mathematics and English.
- You must have scored 50% in all other subjects.
ACCA Entrance Exams
Although ACCA does not require entrance exams, some colleges conduct entrance exams for granting admissions to the ACCA course. Here is a list of entrance exams for the ACCA course admissions:
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ACCA Admission 2023
There are two modes for admission into the ACCA course, which are:
- Entrance Exam-based
1. Merit-based Admission Process
Here is the step-by-step process admission process followed by colleges like Apeejay Stya University, Gurgaon, that offer merit-based ACCA admissions:
- Fill out and Submit the Application Form
- Upload Documents
- Pay Application Fee
- Review of Applications and Shortlisting of Individuals
- Group Discussions (GD) and Personal Interviews
2. Entrance Exam-based Admission Process
Here is the step-by-step process admission process followed by colleges like Christ University, Bangalore, that offer ACCA admissions based on entrance exams:
- Fill out and Submit the Application Form
- Upload the necessary documents
- Pay Application Fee
- Register for the Entrance Exam
- Shortlisting of Candidates
- Document Verification and Personal Interviews
The syllabus for the ACCA course is divided into 13 exams and 3-course levels, which are:
The detailed ACCA subjects for each level are given below:
ACCA Subjects: Knowledge Level
- Business Accounting
- Financial Accounting
- Management Accounting
ACCA Subjects: Skills Level
- Corporate and Business Laws
- Performance Management
- Financial Reporting
- Audit and Assurance
- Financial Management
ACCA Subjects: Professional Level
Compulsory ACCA Subjects:
- Strategic Business Leadership
- Strategic Business Reporting
Optional ACCA Subjects (Any 2):
- Advanced Financial Management
- Advanced Performance Management
- Advanced Taxation
- Advanced Audit and Assurance
Once you finish all 13 ACCA exams, you gotta work for 3 years and show that you have the right experience. You also gotta do this thing called the Ethics and Professional Skills Module, which helps you learn all the skills that superiors want you to have.
The following is the list of the ACCA papers, which candidates must clear to earn ACCA certification:
- Audit and Assurance (AA)
- Taxation (TX)
- Performance Management (PM)
- Financial Reporting (FR)
- Financial Management (FM)
- Advanced Audit and Assurance (AAA)
- Advanced Taxation (ATX)
- Advanced Performance Management (APM)
- Strategic Business Reporting (SBR)
- Advanced Financial Management (AFM)
In conclusion, the Association of Chartered Certified Accountants is an internationally recognized professional accounting body that has produced well-rounded professionals for about a century. The coursework it offers in the field of accounting is unparalleled and prepares accountants with the knowledge that applies universally. Thus, the ACCA qualification is globally sought after, and it opens up a world of job opportunities not only in the accounting industry but also in corporate leadership roles. The ACCA has become a prestigious global community of diverse minds sharing expertise in finance, taxes, consultancy, and strategic management.
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FAQs- What is the ACCA Full Form?
Q.1. What is ACCA Full Form?
Ans. The ACCA Full Form stands for Association of Chartered Certified Accountants, which is a global professional accounting body.
Q.2. What does ACCA do?
Ans. ACCA offers a range of accounting qualifications, provides professional development and support services to its members, and advocates for ethical and sustainable business practices.
Q.3. What are the benefits of achieving the ACCA qualification?
Ans. ACCA qualifications are highly regarded in the accountancy and finance industry and can lead to a wide variety of career opportunities, including auditing, tax, financial management, and much more.
Q.4. What is the difference between ACCA and other accountancy qualifications?
Ans. ACCA is a globally recognized professional accountancy qualification that offers a flexible and comprehensive program with a focus on ethics, professionalism and the latest industry developments.
Q.5. How do I become a member of ACCA?
Ans. To become an ACCA member, you must meet the required qualifications, gain relevant work experience and adhere to the organisation’s ethical and professional standards.
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