The Importance of ACCA Certification and the Course Details
Learning something extra, and learning something useful is always a great idea. And, a good thing about learning something apart from the traditional subjects and concepts, not only helps you quantify its utility in the form of a bright career prospect, but also qualify it from the viewpoint of higher respect and reputation within the professional circle. ACCA certification is one such course that proves its worth on the career as well as proficiency front. It is an international level certification. As promised at the end of the earlier blog, we’ll now be looking at the details of the ACCA certification course syllabus, just for you to know how useful it is, and how would you be able to leverage everything that is learned when you hit the professional floor.
What is the ACCA Certification?
The ACCA certification, belonging to ACCA (Association of Chartered Certified Accountants), is a UK-based global accountancy body. Currently, it is recognized and accepted by over 170 countries across the world, and therefore, qualifying for this certification is certainly something that every finance professional working in the field of financial reporting, taxation, internal audit, pricing, audit and assurance, etc. must look forward to. Earning an ACCA certification isn’t a child’s play. It involves dealing with international high professional standards, and therefore, it requires the highest levels of determination and sincerity to accomplish it. Let us now delve into the details of the ACCA certification course.
ACCA Certification Course Details
- Management Accounting: Cost accounting techniques, the nature, sources and the purpose of management information, standard costing, budgeting, and performance measurement.
- Taxation: Corporate tax, UK tax system, value added tax, inheritance tax, income tax and national insurance contributions, tax administration for individuals, and chargeable gains for individuals.
- Accountant in Business: Leading and managing individual and terms, business organization structure, function and governance, business organization and its stakeholders and the external environment, personal effectiveness and communication in business, accounting and reporting system, control and compliance, and professional ethics in accounting and business.
- Financial Accounting: Trail balance preparation, interpreting various financial statements, the qualitative characteristic of financial information, the context and purpose of financial reporting, preparing simple consolidated financial statements, recording events and transactions, and the use of double entry and accounting systems.
- Performance Management: Budgeting and control, decision making techniques, performance measurement and control, and specialist cost and techniques of management accounting.
- Corporate and Business Law: Insolvency law, formation and constitution of business organization, international business transactions, essential elements of the legal system, corporate fraudulent and criminal behavior, capital and financing of companies, and transportation and payments of international business transactions.
- Financial Management: Business valuation, risk management, working capital management, investment appraisal, financial management function, business finance, and financial management environment.
- Financial Reporting: This is the largest of all the subjects by the number of topics. This includes impairment of assets, tangible non-current assets, the regulatory framework, introduction to groups, revenue, the conceptual framework, the consolidated statement of financial position, PnL and comprehensive income consolidated statement, accounting for associates, taxation, inventories and biological assets, earnings per share, presentation of published financial statements, limitations of financial statements and interpretation techniques, reporting for financial performance, intangible assets, etc.
- Audit and Assurance: Internal audit, non-current assets, internal control, inventory, receivables, corporate governance, audit and other assurance engagements, audit planning and documentation, audit review, finalization and reports, introduction to audit evidence, professional ethics and quality control procedures, audit procedures and sampling, cash and blank, not-for-profit organization, etc.
Hope, you’ve now got a detailed understanding of the ACCA certification course curriculum. Follow this space, as we’d soon be coming with some more interesting and informative stuff.