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You know that if you want to be an accountant, you have to be a member of the ACCA or Association of Chartered Certified Accountants. Therefore, membership has its perks. To qualify to be an ACCA member, you will need to fulfill some criteria. Of course, the best way to be an ACCA member is to take the examinations and pass them. Apart from that, you will also have to meet its other requirements.
To begin with, if you are taking the ACCA course, you will need to pass or gain an exemption for 14 papers. Exemptions are only given out to students who had previously taken similar approved modules in other degrees. This is done on a case to case basis and hence it depends on which university you graduated from. on top of that you would need to have completed an ethics module online as well as underwent 3 years of industry practice.
In the academic route, there are 2 different levels. This first and most basic on is known as the Fundamental level while the Professional level comes after that. in the Fundamental level you will have to take 2 different modules known as the Knowledge and Skills modules respectively. This is where you will be learning the core information of financial and management accounting which prepares you with the basic knowledge you will need to know.
Once you learnt that, you will then need to apply your knowledge into other areas of accounting which is part of the Skills module which consists of 6 different subjects. This will encompass the 6 main technical areas that you will need to learn to become an accounting which are taxation, financial management, law, auditing, financial reporting and performance management.
Once you complete the Fundamental level, you will then proceed to the Professional level which is further divided into another 2 different modules namely the Essentials and the Options.
The exams are divided into two levels – Fundamentals and Professional. Take note that this level is considered to be an advance level which means unless your fundamentals are good and strong, you will find this level difficult to cope. To a certain extent, this level is seen as an equivalent to the postgraduate level. The Essentials level is where it is mandatory for you to complete 3 modules while Options route have 4 different subjects which are advanced levels of those provided for in the Skills module at the Fundamental level which you took before this.
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