Chartered certified accountant
ACCA, the global body for professional accountants, offers a future that is diverse, challenging and full of opportunity. The ACCA qualification is an established route to professional status, and globally you will be in demand for your finance and accounting knowledge.
Chartered certified accountants undertake a large variety of accountancy services and are responsible for developing and maintaining financial and accounting systems, financial forecasting, auditing financial records and investigating financial anomalies. They produce reports and budget plans, and contribute to business strategy.
They can work within a wide range of sectors including, private practice, public sector, financial services or the corporate sector. Often, a chartered certified accountant's main aim is to maximise profitability and efficiency or ensure value for money on behalf of their employer or client, often assessing business possibilities. They may provide a management consultancy service.
Chartered certified accountants can offer a range of services to an internationally recognised standard, including advising on taxation, insolvency and corporate finance.
The role of a chartered certified accountant can cover many aspects of finance work.
The day-to-day activities may vary, according to the size and type of organisation, but will generally involve:
ACCA, the global body for professional accountants, offers a future that is diverse, challenging and full of opportunity. The ACCA qualification is an established route to professional status, and globally you will be in demand for your finance and accounting knowledge.
ACCA, the global body for professional accountants, offers a future that is diverse, challenging and full of opportunity. The ACCA qualification is an established route to professional status, and globally you will be in demand for your finance and accounting knowledge.
Although entry to the profession without a degree is possible, accountancy is highly competitive and graduates will have greater opportunity to enter the profession. Large employers are unlikely to accept HNDs however some smaller firms may be more flexible.
To become a chartered certified accountant you must have studied for the Association of Chartered Certified Accountants (ACCA) qualification and become an ACCA member.
Any discipline is accepted to enter the accountancy profession. The following subjects may be helpful in obtaining a role in chartered certified accountancy:
Depending on the relevance of the qualification there may be the opportunity to claim a maximum of nine exemptions from the ACCA qualification. Further details are available through the ACCA website.
There are a number of entry points onto the ACCA qualification, depending on the individual’s previous qualifications. To qualify to become an ACCA qualification student the minimum entry requirement is:
ACCA has introduced Foundations in Accountancy for those who wish to enter the accountancy profession or are already working in accountancy but have no formal academic qualifications. There are five different entry level qualifications to chose from, see the website for more information.
Large employers require a good A-level and degree performance (usually a minimum of a 2:1). Good GCSEs in English and mathematics are also required. Language skills can be beneficial.
Gaining pre-entry business or financial work experience can be highly beneficial, either via vacation work, summer or year-long work placements, part-time employment voluntary work and shadowing.
Potential candidates will need to show evidence of the following:
Competition is high for positions within large companies as well as for graduate schemes and industry jobs with good study packages. It is advisable to apply early in your final year for jobs in larger organisations, though smaller companies can be more flexible and tend to recruit throughout the year.
For more information, see work experience and internships and search courses and research.
ACCA, the global body for professional accountants, offers a future that is diverse, challenging and full of opportunity. The ACCA qualification is an established route to professional status, and globally you will be in demand for your finance and accounting knowledge.
Within the Association of Chartered Certified Accountants (ACCA) qualification there is a strong focus on professional values, ethics and governance. There is an increasing focus on professionalism and ethics in accounting.
Training involves passing all 14 ACCA exams (bar any exemptions), completing at least three years of relevant practice financial experience and completing the online and interactive ethics module.
The exams are broken down into two levels, Fundamentals and Professional. Fundamentals provide those with a non-accounting background a good grounding in the basics. If you have done a relevant degree you may qualify for exemptions from some of the exam papers at the Fundamental level. Once the Fundamentals are completed, the Professional level will build upon the knowledge already gained and provide the advanced skills, techniques and values. No exemptions are given at the Professional level. Specialist skills from certain areas of accountancy can be gained. Two of the five papers taken at Professional level are options and cover topics such as financial management, performance management, taxation and audit and assurance.
While studying the ACCA qualification there two qualifications you can receive on the way to completion, a Diploma in Accounting and Business and an Advanced Diploma in Accounting and Business.
The practical experience required for ACCA membership may be gained prior to, during or after completion of the examinations. Some members may already have the necessary experience when they register with ACCA; others could study full time for the professional examinations and gain the necessary training later.
To become an ACCA-qualified accountant the relevant work experience undertaken needs to be recognised and the Practical Experience Requirement (PER) needs to be completed. A total of 13 performance objectives need to be met, overseen, agreed and signed off by a workplace mentor or employer. Trainee accountants may change their employer during this period. The practical experience requirements ensure that members gain both a range and depth of experience and can adapt to working in any financial role. The progress must be recorded using the trainee development matrix (TDM). Many choose to train with one of 8,500 worldwide ACCA approved employers, but experience can be gained within any type or size of business.
The length of time it takes to qualify as an ACCA member depends on the individual, although the average is four to five years. There is a 10 years time limit for the completion of the ACCA Qualification in which to complete all 14 exams. There is no time limit on when the relevant training is received to complete the professional ethics module and apply for membership. It is recommended that the relevant training is completed while studying for the qualification.
Employers may offer financial assistance and study leave periods. Trainees may fund themselves, but this can be expensive. ACCA approved employers have approved training schemes and provide support and finance for training. Some other employers are graduate partners, whose graduate schemes are actively promoted by ACCA.
There are a variety of methods of study to suit all needs. There are opportunities to study from home or through approved providers.
ACCA, the global body for professional accountants, offers a future that is diverse, challenging and full of opportunity. The ACCA qualification is an established route to professional status, and globally you will be in demand for your finance and accounting knowledge.
Career development is often dependent on trainees progressing through their professional qualifications and gaining work experience. Even when qualified all chartered certified accountants are expected to keep their knowledge and skills up to date to meet the changing needs of the market. Association of Chartered Certified Accountants (ACCA) is about lifelong learning and so offers its members a range of career management resources as they develop their career. It is up to the member to decide how they want to engage and how often.
Chartered certified accountants can often be given considerable responsibility early on, such as being given specific projects to manage, staff to supervise or control of work with more prestigious clients. They may also progress their career by diversifying or specialising in a particular area, such as audit, risk management, insolvency or forensic accountancy.
Once qualified, ACCA accountants can attain a practicing certificate to serve their own clients. Those working in private practice may expect to gain a partnership within ten years of qualification. In commerce, ACCA-qualified staff may take on higher responsibilities within a finance department or move into a more strategic business development role, depending on their professional interests and experience.
The ACCA qualification covers a broad syllabus that includes both finance and management skills. This means that chartered certified accountants can transfer their knowledge and skills into different job roles and business areas. Because of the strong emphasis on strategic business management within the ACCA training scheme, it is possible for chartered certified accountants to move into business management or consultancy. Many also go on to set up their own businesses.
ACCA, the global body for professional accountants, offers a future that is diverse, challenging and full of opportunity. The ACCA qualification is an established route to professional status, and globally you will be in demand for your finance and accounting knowledge.
Chartered certified accountants can opt to work in any sector and have the opportunity to train and work in a wide variety of organisations from large, multinational companies to small, local businesses.
Many organisations, covering all sizes and sectors are committed to providing their employees with the ACCA (Association of Chartered Certified Accountants) qualification. By obtaining this qualification the range of career options available increases, allowing access to a broad range of complex and interesting roles.
ACCA reports that 49% of its members currently work in the corporate sector, 29% in public practice, 11% in the public sector and 13% in financial services. The ACCA qualification is recognised in over 170 countries with 404,000 students and 140,000 members worldwide and it is possible to train and work anywhere in the world as ACCA has a network of 83 offices and centres across the world. ACCA reports that 72% of its members and students are based outside of the UK.
Typical employers include:
The Association of Chartered Certified Accountants (ACCA) provides a range of publications, videos, job listings and details of approved training practices. Links to jobs boards and some specialist recruitment agencies in 28 countries are available through the website. It also has an online vacancies database and job-matching service containing details of all UK practices that may have vacancies arising throughout the year. See also the online ACCA Graduate Guide for UK graduates, which provide details of the key UK employers recruiting trainees into their finance graduate training programmes.
Vacancies are often handled by recruitment agencies. Agencies with a financial bias may also handle training vacancies and can be a good source for positions with smaller companies, as well as large multinationals. If you pursue this route it is advisable to register with several agencies in order to maximise your chance of finding suitable vacancies. See the Recruitment and Employment Confederation (REC) website for details of member agencies.
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ACCA, the global body for professional accountants, offers a future that is diverse, challenging and full of opportunity. The ACCA qualification is an established route to professional status, and globally you will be in demand for your finance and accounting knowledge.
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