Association of Chartered Certified Accountant Ethiopia (ACCA), is a global organization that offers a ‘Certified Chartered Accountant’ credential to students who are aspiring to become professional accountants.
The course length depends on your level of education. For example, if you are the 12th degree, the course is for 3 years, 2 to 2.5 years of commercial graduate studies, and 2 years of IPCC (both groups), 1 year of B.Com and IPCC research for the ACCA course, and 1 year of study for CA graduates.
One should be at least 18 years of age and have a minimum qualification of 10+2, with an aggregate of 65 percent in Mathematics or Accounts as well as in English, and a minimum of 50 percent in all other subjects selected, to be able to obtain the ACCA qualification.
Students who are studying Commerce or business-related streams such as BCom, BBA, and BMS for their graduation are also eligible for the ACCA course and can seek ACCA along with their graduation.
ACCA has 13 courses, all split into three levels: awareness, abilities, and technical skills.
This course has access to both Merit-based and Entrance-based admission modes. Based on marks scored in previous tests, colleges such as Apeejay Stya University admit students.
Colleges like the University of Christ administer their entrance examinations. Some universities also offer admission by written exams and PI.
The total fee ranges from INR 28,000 to INR 2, 60,000 for the top ACCA-affiliated schools. Since the ACCA syllabus can be merged with either B.Com or BBA, while there are several other courses, these courses are some of the most common choices among business students.
If the student wants to study abroad, he/she can follow the ACCA course, earn an Accounting and Business Diploma/Advanced Diploma and proceed to earn a BSc (Hons) degree in Applied Accounting awarded by Oxford Brookes University.
A brief history of the Association of Chartered Accountant
The Association of Chartered Certified Accountants (ACCA) was founded in 1904 and is the global professional accounting body offering the Chartered Certified Accountant (ACCA) certification. The headquarters of ACCA is based in London, with the main administrative office in Glasgow.
ACCA works with 323 Accredited Learning Partners (ALP) and more than 7,300 Approved Employers worldwide, who provide employee development across a network of over 104 offices and centers in 52 countries.
In ACCA certification, the term ‘Chartered’ applies to the Royal Charter issued in 1974.
A constitutionally covered concept is ‘Chartered Certified Accountant’. Individuals identifying themselves as Chartered Certified Accountants must be members of the ACCA and must comply with additional requirements, such as holding a certificate of practice, bearing liability insurance, and submitting to examinations, if they carry out public practice obligations.
One of the British professional bodies for public accountants, the Association of Authorized Public Accountants (AAPA), has been a subsidiary of ACCA since 1996.
In public interest, ACCA works to ensure that its members are properly monitored. It fosters legislation based on principles. ACCA actively attempts, through international studies, to increase the importance of accounting in society.
AAU starts teaching ACCA qualification
As part of a Memorandum of Understanding (MoU) signed between the University and ACCA (the Association of Chartered Professional Accountants), Addis Ababa University (AAU) began teaching the ACCA Certification in December 2016 in its continuing education program.
Both sides described the MoU as having the objective of building up the professions of accounting and auditing in Ethiopia.
On December 17, 2016, the two partners hosted a half-day consultative discussion at Eshetu Chole Hall.
Dubbed’ growth of the accounting and auditing profession in Ethiopia reinforced by a new agreement to launch professional accounting teaching between the AAU’s Accounting and Finance Department and the Association of Chartered Certified Accountants (ACCA),’ the event was part of the memorandum of understanding signed between the university and the ACCA to strengthen accounting.
Commenting on the agreement’s win-win strategy and future growth, Associate Dean of Research and Technology Transfer of the College of Business and Economics, Habtamu Berhanu (Ph.D.) noted that in response to the demand of employers for graduates incorporating both academic and professional credentials, the university has tried to launch a teaching program in professional accounting.
A series of initiatives are being initiated by the two partners, AAU and ACCA, focusing on areas of common interest and seeking to provide a tailor-made route for students to prepare for the ACCA certification.
ACCA Head Netsanet Tsegaw claimed that AAU and ACCA share a common vision and values that concentrate on the growth of Ethiopia’s accounting and audit education.
The collaboration of the two parties, according to the ACCA president, lets students achieve qualifications that are internationally applicable and further develop their job prospects.
The global association for licensed accountants is ACCA. It provides business-relevant, first-choice credentials to individuals around the world who are pursuing a rewarding career in accounting, finance, and management with application, skill, and ambition.
Why choose ACCA?
The reasons for choosing ACCA when seeking or the following graduation are as follows:
- Achieving this certification shows to employers that eligible ACCA candidates can do business and accounting in all areas and aspects. This increases prospects for jobs.
- With over 5, 00,000 members and students in 181 countries, it is one of the largest and fastest-growing qualifications in the world.
- Students can choose to enter any field of business and management they want with an ACCA qualification.
- As it gives students a higher standing in general, prospects with ACCA are incredibly vast and can also guarantee that they achieve senior management roles faster than others.
- ACCA conducts its assessments twice a year so students can also work with the global accounting body while completing their studies.
What is ACCA all about?
- A globally recognized accountancy body is the Association of Certified Chartered Accountants (ACCA).
- In every region, it is important as it is considered one of the most reputed accounting qualifications.
- ACCA is a high-level professional certification which is equivalent to completing a complete university degree, based on international accounting and auditing principles, and it is IFAC compliant.
- The ACCA course can either be followed in parallel with the graduation of the student (B.Com, BBA, etc.) or can be incorporated into the graduation course itself.
- ACCA also has an extremely versatile assessment system that makes it more appealing and competitive for students who are pursuing or even have completed their graduation.
- This requires 13 required documents that need to be submitted within a maximum span of 7 years.
- The certification of the ACCA covers all business fields, from financial statements, accounting management, business taxes & law to audit and even business ethics – it is an all-in-one qualification.
- The curriculum of the ACCA is internationally applicable and also relevant to the industry, which makes it a great forum for students to develop their accounting and finance careers.
The eligibility requirements for obtaining an ACCA are:
- Applicants must be at least 18 years of age and have to complete 10+2 as the minimum qualification required.
- In Accounts or Mathematics and English, in Grade 12 exams, a minimum of 65 percent is expected.
- In their other subjects, students should have scored 50 percent.
How to prepare for these exams?
Here are some tips to help students prepare for and also do well in their entrance examinations:
- These entrance exams mostly check the awareness of students and the concepts they have retained from grade 5 to 12, so they may have to rewrite the basic concepts to perform well.
- Students should try to try as many previous question papers as they can, so the practice can benefit the most from them.
- One of the most important things students can concentrate on is learning how to handle time since in two hours they would have to answer 100 or more questions.
- Improving general knowledge skills is crucial as it is an integral part of most of these entrance exams.
- Students should not turn to more than one book as a guide, since it wastes time if they take support from many books and need to find only one notion.
How to get admission to top ACCA colleges?
If students are seeking admission to top ACCA affiliated schools, the following points should be kept in mind:
- Keep updated with the latest press releases, notices, and eligibility requirements of the college, cut-off, deadlines for applications, procedures, etc.
- That if you meet the eligibility requirements, such as 65% in Accounts or Maths and English, and 50 percent in all other subjects, admission to ACCA is guaranteed; in 12th-grade examinations, it is completely important to perform well.
- As soon as possible, students can start studying for entrance exams so that they have more than enough time to polish their fundamental concepts and general knowledge.
- Ensure that applications are submitted on time or even early, as it will allow students plenty of time to get rid of the stress of applying to college and concentrate on studying for the entrance exam.
ACCA Admission Process
Most Indian colleges choose their students based on merit or entry examinations (written tests) that the university itself may or may not carry out – criteria may vary from university to university.
The step-wise admission procedure followed by many colleges, such as Apeejay Stya University in Gurgaon, follows:
Step 1 – Complete and submit applications: Students will have to fill in the application form of their respective university – either online or offline – some accept only online applications and some allow both.
Step 2 – Upload documents: Students should scan and upload all the necessary documents for admission and verification to the admission portal after filling out all the relevant information in the application form.
Step 3 – Application Fee: Students can pay the application fee after uploading the documents, which may vary from college to college, and they will receive their application number via SMS or email.
Step 4 – Application Review and shortlisting of candidates: The university admission committee will then review the applications of students and see whether they meet the eligibility requirements and then shortlist the students. Such students will now be invited to engage in group discussions and give private interviews.
Step 5 – Group Discussions and Personal Interviews: Some universities hold group discussions and personal interviews so that they can get an understanding of the essence and context of the candidate concerning what their students expect from the university.
Entrance Exam Based Admission
Institutes that grant admission based on entrance examinations, such as Christ University, Bangalore, follow the following admission process:
Step 1 – Fill and submit application forms
Step 2 – Upload the documents needed
Step 3 – Payment of Application Fee
Step 4 – Entrance Exam Registration: If the university to which the student has applied does not register the student for the entrance exam directly, the student must register well before the deadline.
Step 5 – Entrance Exams Results and shortlisting of candidates based on entrance exam grades, the university will shortlist the candidates. For further verification, the shortlisted candidates will be called upon.
Step 6 – Personal interviews and review of documents: This round will be named only for shortlisted candidates. Admission to the course will be given to the candidates considered worthy.
Frequently asked questions
With ACCA Can you be a chartered accountant?
You must have completed the ACCA Certification and become an ACCA member to become a Chartered Certified Accountant. You will also need to have appropriate job experience for three years, which can be accomplished when you are studying.
How long will it take to finish ACCA?
Together with the Ethics Module and the relevant three years of work experience, it usually takes 4 to 5 years to complete the exams. Depending on how many exemptions from your education are given and if you have already gained enough job experience, it might be possible to finish sooner.
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