Founded in 1904, the Association of Chartered Certified Accountants (ACCA) is the global professional accounting body offering the Chartered Certified Accountant qualification (ACCA or FCCA). As at June 2015, ACCA had 178,000 members and 455,000 students in 180 countries. ACCA’s headquarters are in London with a principal administrative office in Glasgow. ACCA works through a network of 91 offices and centres, and more than 8,500 Approved Employers worldwide, who provide employee development. The syllabus comprises 14 examinations, although some exemptions are available. The qualification is structured in two parts. The Fundamentals level consists of 9 examinations: F1 Accountant in Business, F2 Management Accounting, F3 Financial Accounting, F4 Corporate and Business Law, F5 Performance Management, F6 Taxation, F7 Financial Reporting, F8 Audit and Assurance, and F9 Financial Management.
The Professional level involves five examinations. Within the Professional level, three papers are compulsory: P1 Governance, Risk and Ethics; P2 Corporate Reporting; and P3 Business Analysis. Two of the following four options papers must also be completed: P4 Advanced Financial Management, P5 Advanced Performance Management, P6 Advanced Taxation and P7 Advanced Audit and Assurance.
The ACCA full Professional qualification is regarded as the equivalent of a taught UK master’s degree by the UK Border Agency and Department of Education.