From the title above, I'm going to talk about ACCA; the course I'm currently taking. Oh, and the picture on the left side, is me graduating from CAT (Certified Accounting Technician) last year. I was 19 years young.
So, what is ACCA? How do we take ACCA? Why do people with a degree in Accounting and the related field, pursue in ACCA when they've already graduated with a degree?
ACCA means the Association of Certified Chartered Accountants. It's a professional course where the papers are standardized worldwide. Each paper for every subject has the same set of questions no matter where you're sitting for the exam. The passing mark for each paper is 50. Sounds easy? Well, you're correct if you're the type of person who revise consistently. After completing ACCA, you'll be given the title of a CA (Chartered Accountant) in your name! It's like a license to show that you're a certified person in this accounting field.
If you're wondering when you can take the papers or how do you pay for the papers or the length of time you're given for each paper, well, don't worry, I'll be giving you the basic information you need in this second paragraph. You can sit for any ACCA examination 4 times in a year; early March, early June, early September and early December. Here, in UiTM Shah Alam where I'm studying at, the students are advised to register for 2 papers per semester (Jan-May & July-Nov) and hence, we're encouraged to sit for the June and December exams. After you've decided on which papers you're taking in a certain semester, you have to pay for the papers on accaglobal.com before the deadline in pound (£). You'll be given 3 hours and 15 minutes to complete each paper except for F4.
There's 3 levels in ACCA (Knowledge, Skills & Professional Level). Usually, you'll get exempted from the first level (Knowledge) because you've already been tested in your previous course. For example, you may have taken a similar test during your diploma/degree/CAT so you won't have to take it again in ACCA.
In the second level (Skills), you'll have to complete 6 papers if you're from CAT. Students from diploma and degree are exempted for a few papers if I'm not mistaken. The papers will test you in various sections such as Law in Business, Performance management, Tax, Financial Reporting, Audit Assurance and Financial Management.
In the third and last challenging level, you'll be battling with time and sweat to complete the papers in this Professional Level. There's 3 compulsory papers and another 2 option papers; you'll be able to pick 2 out of 4 options. And I'm not even kidding, I'm still on the 2nd level but I've been in the same exam hall with those who are taking the 3rd level of papers. They write non-stop within the 3 hours! (Okay, I'm exaggerating, they did stop for a couple of seconds to read and think before continuing with writing on their papers!)
P/s; Before pursuing with ACCA, I completed my CAT, so my information is more beneficial towards those who are also from CAT. From what I remember, those who are from diploma and degree are exempted with more papers. For more detail, feel free to comment here/email me! Or you can visit the official ACCA website which is accaglobal.com!
Trying to survive. From Malaysia. 21. ACCA. Feel free to comment for any inquiries!