To achieve the ACA professional Accounting qualification (Associate of the Institute of Chartered Accountants), you must complete a training contract which will last a minimum of 3 years, pass the Institute examinations, and complete work experience requirements.
The ACA qualification comprises of two stages, the Professional Stage and the Advanced Stage.
The Professional Stage is broken down into two types of modules, ‘knowledge’ and ‘application’.
Knowledge (K) 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 1.5 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%. Credit for prior learning can be applied for in the 6 modules listed above.
Application (A) modules builds upon the knowledge modules, and tests your knowledge in practice. The application module is assessed as a paper based examination and lasts 2.5 hours.
The modules covered are:
Each Application paper has a minimum pass mark of 55%. You’ll retain credit for the papers that you pass and must re-sit those that you fail. Credit for prior learning can be applied for in Business Strategy and Financial Management.
The Advanced Stage consists of two technical exams and a case study. The Technical Integration exams (Business Change and Business Reporting) are 3.5 hours long (per exam). These papers require you to apply your financial reporting, taxation assurance and ethics knowledge in an integrated way.
Each Advanced Stage paper has a 50% pass mark. The case study can only be attempted when you reach your third year of your training contract, and cannot be attempted prior to attempting the Business Reporting and Business Change papers.