ACCA in SingaporeUpdated on December 21, 2015 // Created on December 21, 2015
Below is a guide on how you can become ACCA certified. If you are interested and are confused as to where to study ACCA in Singapore, you can check out our ACCA Courses in Singapore to help you get started. If you are already certified and are looking for a job, check out our job listings for ACCA Jobs in Singapore. The ACCA Salary in singapore according to ACCA Global Singapore, is around SGD 50,429 to SGD 63,039 annualy.
The ACCA or the Association of Chartered Certified Accountants is a leading international accountancy body. The ACCA covers not just accounting, but also aspects of business.
Benefits of the ACCA Qualification
The ACCA qualification allows you to become a Certified Chartered Accountant which allows you to work in any aspect of finance or management in any business. You also gain an advantage over other employers as you have a wider scope of business knowledge which can lead you to achieving senior management positions as well as achieving higher status in the eyes of your employer and clients. Gaining the ACCA qualification is evidence that the holder possesses skills and knowledge which are in high demand by employers in industry, banking, auditing, consulting as well as other professions like taxation and law. You will not only gain specialist knowledge in finance and accounting, but also in organizational management and strategy. Unlike university degrees, the ACCA not only covers theory, but also practical usage in the workplace. The ACCA professional qualification is equivalent to a University degree and since ACCA Exams are twice a year (June and December), you have the option of working and studying at the same time.
Things you should know about ACCA
The ACCA (“Association of Certified Chartered Accountants”) is a global professional body that will issue your certification. To achieve the ACCA qualification you must pass 14 written exams and you must have practical experience. You can take up to 4 exams in each exam period and you have up to 10 years to complete the ACCA qualification, however it generally takes around 2 to 3 years to gain the ACCA qualification. ACCA professional qualification covers all areas of business, from financial statements, management accounting, business taxation & law to audit and also business ethics. Some multinational and local firms seek or require their employers to gain the ACCA qualification.
To achieve the ACCA qualification, you must complete 14 exam papers. However, a maximum of nine papers in the fundamentals level can be exempted. The exams have to be taken in the following order: Knowledge (f1,f3,f2), Skills (f4,f5,f6,f7,f8, f9), Essentials (p1,p2,p3), and Options (p4, p5, p6, p7) and you must choose two from Options.
The Knowledge Module:
Paper F1, Accountant in Business
To develop knowledge and understanding of the business environment and the influence this has on how organisations and accountants operate, and of the role of the accountant and other key business functions in contributing to an efficient, effective and ethical organization, and to build knowledge and understanding of the basic principles of effective management.
Paper F2, Management Accounting
To develop knowledge and understanding of how to prepare and process basic cost and quantitative information to support management in planning and decision-making in a variety of business contexts.
Paper F3, Financial Accounting
To develop knowledge and understanding of the underlying principles, concepts and regulations relating to financial accounting and technical proficiency in the use of double-entry accounting techniques, including the preparation of basic financial statements.
Paper F4, Corporate and Business Law
Develop knowledge and skills in the understanding of the general legal framework, and of specific legal areas relating to business, recognizing the need to seek further specialist legal advice where necessary.
Paper F5, Performance Management
Develop knowledge and skills in the application of management accounting techniques to quantitative and qualitative information for planning, decision-making, performance evaluation and control.
Paper F6, Taxation
To develop knowledge and skills relating to the tax system as applicable to individuals, single companies, and groups of companies.
Paper F7, Financial Reporting
To develop knowledge and skills in understanding and applying accounting standards and the theoretical framework in the preparation of financial statements of entities, including groups, and how to analyze and interpret those financial statements.
Paper F8, Audit and Assurance
This paper aims to develop knowledge and skills in the process of carrying out the assurance engagement and its application in the context of the professional regulatory framework.
Paper F9, Financial Management
Develop knowledge and skills expected of a financial manager – relating to issues affecting investment, financing, and dividend policy decisions.
Paper P1, Governance, Risk & Ethics
To apply relevant knowledge, skills, and exercise professional judgment in carrying out the role of the accountant relating to governance, internal control, compliance, and the management of risk within an organization – in the context of an overall ethical framework.
Paper P2, Corporate Reporting
To apply knowledge, skills, and exercise professional judgement in the application and evaluation of financial reporting principles and practices in a range of business contexts and situations.
Paper P3, Business Analysis
To apply relevant knowledge, skills, and exercise professional judgement in assessing strategic position, determining strategic choice, and implementing strategic action through business process and structural change, coordinating knowledge systems and information technology, and by managing quality processes, projects, and people.
Options Modules (2 Papers Only)
Paper P4, Advanced Financial Management
To apply relevant knowledge, skills, and exercise professional judgment as expected of a senior financial executive or advisor, in taking or recommending decisions relating to the financial management of an organization.
Paper P5, Advanced Performance Management
To apply relevant knowledge, skills, and exercise professional judgement in selecting and applying strategic management accounting techniques in different business contexts and to contribute to the evaluation of the performance of an organisation and its strategic development.
Paper P6, Advanced Taxation
Apply relevant knowledge, skills, and exercise professional judgement in providing relevant information and advice to individuals and businesses on the impact of the major taxes on financial decisions and situations.
Paper P7, Advanced Audit and Assurance
To apply relevant knowledge, skills, and exercise professional judgement in analysing, evaluating, concluding and reporting on the assurance engagement and other audit and assurance issues in the context of best practice and current developments
How to register for the exam
To take and qualify for the ACCA Exam, You must register online through ACCA’s website.
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