ACCA Study E-books available
ACCA Exam Study Text
ACCA Paper F1 - Exam Study Text - Accountant in Business
ACCA Paper F2 - Exam Study Text - Management Accounting
ACCA Paper F5 - Exam Study Text - Performance Management
ACCA Paper F9 - Exam Study Text - Financial Management
ACCA Paper P3 - Exam Study Text - Business Analysis
ACCA Practice Questions and Answers
ACCA Paper F1 - Practice Questions and Answers - Accountant in Business
ACCA Paper F2 - Practice Questions and Answers - Management Accounting
ACCA Paper F3 - Practice Questions and Answers - Financial Accounting
ACCA Paper F5 - Practice Questions and Answers Diagnostic Tests - Performance Management
ACCA Paper F9 - Practice Questions and Answers Diagnostic Tests - Financial Management
ACCA Paper P3 - Practice Questions and Answers - Business Analysis
ACCA Revision Mnemonics and Charts
ACCA Paper F5 - Revision Mnemonics and Charts - Performance Management
ACCA Paper F8 - Revision Mnemonics and Charts - Audit and Assurance (International)
ACCA Paper F9 - Revision Mnemonics and Charts - Financial Management
ACCA Paper P3 - Revision Mnemonics and Charts - Business Analysis
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ACCA Courses
Why become an ACCA professional?
It is I suppose natural that quite a lot of people, wondering what to do in their lives, ask this question. It is an important issue, because on the choice as to one’s career direction hangs thirty or forty years’ of work.
ACCA courses are designed to prepare students for the qualifying examinations of the ACCA – more importantly, perhaps, the job interview and the professional work itself. Let us consider what an ACCA professional might become involved in, and how he or she might later specialise, and thus be in a better position to better understand the aims and content of ACCA courses.
An ACCA specialist can be involved in three main areas of financial activity:
· Financial control
· Treasury management
· Audit and assurance
Financial control
Financial control is usually part of corporate finance – in other words the accountant will be employed by a business organisation, such as a company. As the title suggests, financial control is involved in such activities as financial accounting (producing financial statements, mainly for the use of ‘external users such as shareholders, creditors and government agencies, etc.); management accounting (providing control and decision support for managers), performance monitoring, measurement and control; the provision of various types of financial information; and possibly ‘internal audit’ including ‘risk management’. As you can see, financial control covers vital areas of financial management.
ACCA courses are there to cover the specialist areas involved. ACCA Paper F3, ACCA Paper F7 and ACCA Paper P2 cover ‘financial accounting and reporting’ at progressive levels of depth. ACCA Paper F2, ACCA Paper F5 and ACCA Paper P5 (an optional paper) cover ‘management accounting’ again becoming progressively more advanced. ACCA Paper F1 (Accountant in Business) and ACCA Paper F4 (Business Law) provide backdrop knowledge as do ACCA Paper P1 (Professional Accountant) and ACCA Paper P3 (Business Analysis), although these two papers do so at the more advanced level.
Treasury management
Treasury management, as the title suggests, is a specialist area of managerial finance that involves making financial decisions, hence the ACCA financial expert moves from having a support role to one of actually making hands-on decisions. Again, it is a corporate function and the ACCA professional is employed within a business organisation. Many decisions are required in the field of treasury finance such as evaluating long-term investment proposals; the management of short-term cash flows; the controls and financing of assets required for work (such as materials); the planning of short and long term finance (funding); dealing with foreign currency needs and problems; and also taxation management.
ACCA courses are developed to cover such topics at two levels. First there is ACCA Paper F9 which focuses on fundamental principles and practices, and then, if the student decides to specialise in this field there is ACCA Paper P4 which examines advanced aspects. Also, ACCA Paper F6 involves basic knowledge of taxation, and at a later stage in the ACCA programme, ACCA Paper P6 provides advanced knowledge for students wanting to progress in the taxation field.
Audit and assurance
This important role is independent of business organisations (after all these are the ones being audited) so the ACCA audit-accountant is normally employed by an Accountancy practice or Accountancy firm.
There are several types of audit and assurance services that ACCA accountants can provide but the most important of these is the audit of a business firm’s historic financial statements. The audit is carried out on behalf of the owners of the business (usually shareholders) and is therefore independent of the organisation’s management (who are employed by the owners). Hence, this type of audit is referred to as an ‘external audit’.
ACCA courses are developed to cover the practices, principles and regulatory requirements of audit and assurance at two levels. First, there is ACCA Paper F8 which covers the fundamental principles, practices and conventions of audit and assurance; and then if the student decides to specialise in this area and become ‘an auditor’, there is the later ACCA Paper P7 which examines the advanced and professional areas.
ACCA is world renowned
ACCA is world renowned and highly recognised by employers, and carries with it high professional status. The qualification consists of a well-balanced programme of subjects which provides good opportunities for specialist activity. ACCA courses are designed to cover the comprehensive ACCA platform of subjects.
TonySurridge.co.uk is an established ACCA study publishing company, with over 30 years experience in the industry helping ACCA students. We provide a range of high quality, affordable, and very popular ACCA study guides available worldwide, via instant download.
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