To achieve the ACCA (Associate of Chartered Accountants) membership, you must complete a training contract which will last a minimum of 3 years, pass the Institute examinations, undertake professional ethics training and complete work experience requirements.
The ACCA qualification comprises of two levels, the Fundamentals level and the Professional level.
Fundamentals is broken down into two types of modules, ‘knowledge’ and ‘skills’.
Knowledge modules make sure that you’re equipped with the core technical skills needed for you to do your job on a day-to-day basis. Each module is 2 hours long, and you’ll be tested using computer based assessment.
The areas covered are:
Each Knowledge paper has a minimum pass mark of 55%. Exemptions can be applied for the 3 modules.
Skills (S) modules build upon the knowledge modules and test your knowledge in practice. The application module is assessed as a paper based examination and lasts 3 hours.
The modules covered are:
Each skills paper has a minimum pass mark of 50%. You’ll retain credit for the papers that you pass and must re-sit those that you fail. Exemptions can be applied for.
The Professional Level consists of three Essentials exams and 2 optional papers. The 3 hour long Essentials exams cover:
Governance, Risk and Ethics – requiring you to apply your technical knowledge and professional judgement to historical business scenarios
Corporate Reporting – focuses on planning for the future, requiring you to demonstrate your planning skills and ability to give advice in a business context.
You’ll also need to pick 2 of the following optional papers:
Advanced Financial Management
Advanced Performance Management
Advanced Audit and Assurance*
In UAE you must choose ‘Advanced Audit and Assurance’ as one of your optional papers.