Tag Archives: Association of Chartered Certified Accountants

Intermediate Students- How Does ACCA Help You Tick Off Items On Your Career Bucket List?

It is time for Intermediate Students to Think Ahead: Five Reasons to Choose ACCA


admin | category: Education

Five Reasons to Choose Association of Chartered Certified Accountants (ACCA)

It is time for Intermediate Students to Think Ahead: Five Reasons to Choose ACCA. Recognised worldwide – international travel – global network ACCA has 200,000 members and 486,000 students in 181 countries around the world, and once you sign up to study, you instantly become part of this ever-growing network. That means you will be part of a network of over 600,000 people around the world.

So if you do wish to travel you will be able to do so with ease. Accountancy is one of those professions where positions all around the world are freely available; so many people take the opportunity to visit and work in new countries.

2) Highly regarded by 8,500 employers globally

ACCA’s qualifications are developed with employers that teach international accounting standards. This means that employers all over the world have confidence that ACCA members and  students understand the rules and laws of corporate finance in their country.

It’s a seal of approval and it’s essential to have a qualification as an accountant to sign off on reports. Furthermore, having a professional qualification is essential for employers to benchmark each candidate: it shows passion and drive but also gives a good account of technical ability and experience.

3) Career progression

Ideally anyone who wishes to have a career in finance and achieve senior management positions should have a formal qualification in accounting and finance say employers who recruit candidates for their finance function.

The ACCA Qualification is highly regarded by employers. While it’s not impossible to be in a senior management position without one, there is more and more emphasis being placed on qualifications and quite simply more choice available to qualified accountants, than non-qualified. The qualification is assurance for the employer of your technical knowledge, so coupled with your experience they can determine your suitability for a role.

In developed countries with mature financial and corporate systems, possessing a professional accountancy qualification is standard to be able to compete, say recruitment managers of big four accountancy firms.

4) Flexible study – anywhere, anytime, in your own time

Studying ACCA is flexible. You can organise how and when you study to suit any situation. If you want to complete it as quickly as possible, you can attend an Approved Learning Provider as a full-time student.

5) Practical experience

It’s not all about exams and studying. To become an ACCA member you need to have completed three years of practical experience. While this may sound intimidating, this is key to ensuring that you’re the complete package before becoming an ACCA member and enjoying all the career benefits this brings. A workplace mentor will guide you through the requirements and support your progress.

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ACCA Foundation Diploma – A Fast track Route to a Career in Finance for Matriculation and Intermediate Students

ACCA Foundation Diploma – A Fast track Route to a Career in Finance for Matriculation and Intermediate Students


admin | category: Education

ACCA Foundation Diploma – A Fast track route to a career in finance for Matriculation and Intermediate students. You’ve completed your exams, well done! There’s a lot to think about and consider regarding your future qualifications. The key is to find a fulfilling career; something that you feel enthusiastic about and which also gives you financial rewards.

Why should I choose a career in professional accountancy?

A career in professional accountancy is a great choice and can offer you excellent career prospects. You could work your way right to the very top of an organisation with the right professional accountancy qualification.

It offers unique opportunities to excel in a variety of roles including strategy formulation, governance, risk management, IT and data sciences, start-ups, venture capital markets, investment banking, treasury and many more areas. However those wishing to undertake the role of a CFO in the future need to develop competencies in finance and accounting, audit and assurance and taxation which form the core component of a professional accountancy qualification.

In today’s world with ever evolving business models, a deep understanding of finance and governance matters is an inevitable requirement for any CEO or board member. And because finance plays a central function in any business, a professional accountancy qualification coupled with a deep understanding of financial matters can offer you prestige and a rewarding career.

Why would it interest me?

Any organisation you can think of relies on the skills of qualified finance professionals. This means that, with the right accountancy qualifications, you could build a career in whichever sector that interests you. No matter what your passions are, choosing accountancy means you can follow your dreams. This is because finance professionals work in every industry. So wherever you want to work, choosing accounting and finance means you’ll be in demand with employers everywhere.

There’s no limit to where the qualification could take you. It’s also very portable, so you can easily move between industries if you find one area isn’t right for you.

Think about ACCA

ACCA (Association of Chartered Certified Accountants) is the world’s most forward-thinking professional accountancy body. It has been around for a long time– over 112 years with presence in 178 countries around the world. It means people in business know about ACCA for all the right reasons. ACCA has a proven reputation for quality and excellence. ACCA has more than 198,000 fully qualified members, 486,000 students and over 10,000 practicing firms worldwide. They’re among the world’s best-qualified and most highly sought-after accountants – and they work in every sector you can imagine.

Organisations know and trust the ACCA designation. ACCA is out there every day, connecting with businesses large and small, governments, educational establishments and opinion formers. ACCAis on top of emerging trends, legislation and legal requirements, helping to shape them.Because of all this, ACCA is able to create the innovative, strategic-thinking accountants our fast-changing world needs.

Getting Started with ACCA Foundation Diploma: Matric / Intermediate / O-Level

ACCA Foundation Diploma is the ideal starting point for students who have completed their Matriculation, Intermediate or O- Level examination and whose ultimate goal is the ACCA Qualification. Matric and O-Level students can undertake three additional exams from the local board and earn an Intermediate equivalence.

Four great reasons to choose the Foundation Diploma

  1. Faster route to the ACCA Qualification

If your ultimate goal is the ACCA Qualification, then starting with the ACCA’s Foundation Diploma will give you the essential knowledge to help you pass your ACCA exams. You will be automatically transferred onto the ACCA Qualification, free of charge, and given exemptions from the first three exams after you complete the ACCA’s Foundation Diploma.

  1. Rewarding Career

ACCA’s Foundation Diploma will be your first step to becoming a professional accountant. This will increase your chances of getting a better job and a salary to match; this is because your skills will always be in demand even in the toughest of times. Qualifications awarded by ACCA are recognised, respected and in demand by all sorts of employers around the world.

  1. Affordable

With computer-based exams available all year, you can complete the ACCA Foundation Diploma at your own pace. You pay for exam fees and tuition fee at each level as you go along, so there are no big upfront costs. For Matric and O-Level students the average time to complete is around eighteen months including three additional local exams, whereas an average student coming from the Intermediate background can complete ACCA Foundation Diploma in around twelve months and proceed to the ACCA qualification. The average cost of ACCA’s Foundation Diploma is comparable to completing Intermediate from a local institute in Pakistan.

  1. Achievable

Completing ACCA requires focused study, hard work and dedication and ACC Aand its Approved Learning Partners are always available to support students throughout the journey in passing exams. Historically, the ACCA Foundations Diploma students from Pakistan have been global high achievers.

What happens after you finish the Foundation Diploma and what kind of work can you do with this qualification?

After finishing your Foundation Diploma you will automatically be transferred onto the ACCA Qualification and can begin your journey towards ACCA membership. To become an ACCA, a studenthas to complete 13 exams, an online module on Ethics and Professional Skills and 36 months of practical training in a relevant role with an employer in any sector. Such trainings are supervised by qualified accountants and helps students achieve defined competency ranging from basic conduct and leadership traits to practical experience dealing with complex assurance, financial reporting, taxation, advisory, general management and other related matters. During such trainings ACCA students and workplace supervisors are fully supported by ACCA to achieve the best quality of training, so that once the students become ACCA members, they are work-ready and add value to the businesses.

As an ACCA qualified member, there is no limit in terms of opportunities. ACCA members are working across the globe in multiple roles including core finance, assurance and taxation to supply chain, commercial roles, strategy, civil services, CEO/CFO/Company secretaries of listed and public sector entities. In Pakistan the local statute provides ACCA members legal privilege to operate and work in various roles or sectors.

One of the benefits of being part of the world’s largest and fastest-growing accountancy body is the opportunity to network with many like-minded professionals.ACCA’s alumni network across the globe consisting of 198,000 members and offices worldwide supports ACCA members relocating to new countries so they feel they are supported in their career aspirations.

ACCA currently has more than 7,400 Approved Employers and 80 accountancy partnerships worldwide – and connects ACCA members with thousands of job vacancies through the ACCA Careers Job Board.

Six great benefits of the ACCA Qualification:

  • The professional level of the ACCA Qualification has been set at the same level as a Master’s degree by the Higher Education Commission (HEC) of Pakistan.
  • Be recognised by a vast network of employers, governmental bodies and professional accounting bodies across the world.
  • The ACCA qualification gives you an opportunity to achieve a BSc degree from a UK University. This degree is exclusively available to ACCA students and is awarded by Oxford Brookes University and is the same level as any other UK undergraduate degree programme.
  • You even have the opportunity of earning an MSc in Professional Accountancy from the University of London. This has been made possible through an innovative partnership between ACCA and the University of London; the MSc in Professional Accountancy is the only integrated master’s programme with an accountancy body at a professional level in the world.
  • ACCA qualification includes 36 months mandatory practical training in a relevant role with employers which makes a student work-ready.
  • Lifetime support is available for ACCA members globally so they feel they are supported in achieving their career goals.

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Pakistan

Q2 Sees a Small Dip in Global Confidence but Outlook for Pakistan is Improving


Sumera Saeed | category: Business

The global economic outlook remains positive, despite a slight drop in confidence, compared to the last couple of years, according to the latest Global Economic Conditions Survey (GECS) released today.

The quarterly survey of finance professionals including CFOs, conducted by ACCA (the Association of Chartered Certified Accountants) and IMA (the Institute of Management Accountants), found:

  • The number of respondents expecting conditions to worsen exceeds those expecting conditions to improve by 10 percentage points – yielding the second-highest confidence index in two years and better than the average since the survey began.
  • North America was the most confident region in Q2, followed closely by South Asia. Confidence levels are lowest in the Middle East.
  • Confidence has fallen in both OECD (Organisation for Economic Co-operation and Development) and non-OECD economies. The confidence is higher in non-OECD economies than in OECD economies for only the second time since 2011. Economic confidence in the UK has plummeted in the second quarter, due to political uncertainty, and is now at its lowest level since the final quarter of 2011.
  • Developed economies have continued to grow at a decent pace, but emerging economies have reported much bigger improvements. The economies of Brazil, Russia, India and China are all now growing simultaneously for the first time in over two years.

According to the survey, after a number of challenging years, the outlook for Pakistan is also improving.Two main factors are likely to support growth over the next few years. The first is increased Chinese investment in infrastructure projects as part of the China-Pakistan Economic Corridor. All thep rojects added together are expected to come to US$62bn, which is the equivalentof 17% of Pakistan’s 2015 GDP. Low interest rates, which have been slashed over the past few years in response to a sharp fall ininflation, will also boost growth.

ACCA’s senior business analyst, Narayanan Vaidyanathan, says: ‘Healthy employment prospects in the US with reasonable real wage growth will help. Meanwhile, the Eurozone may benefit from easing austerity, and investor confidence after parties opposing the European Union failed to deliver in recent elections’.

Raef Lawson, executive vice president at IMA, says ‘a combination of a gentler than expected slowdown in China and consumption growth driving recovery in the US and elsewhere has led to a fairly positive global outlook for this quarter.’

‘The IMF recently upgraded its forecasts for global growth to 3.5% in 2017 and 3.6% in 2018, up from just 3.1% last year. Given the improving outlook, this is looking more than achievable.’

ACCA

Companies Must Be Aware of the Financial Impact of Climate-Related Risk, Says ACCA


Sumera Saeed | category: Business

ACCA (the Association of Chartered Certified Accountants) has welcomed the recommendations of the Task Force on Climate-Related Financial Disclosures (TCFD) as an important step towards the better allocation of capital, by incorporating the effect of climate change in investment decisions.

Yen-pei Chen, subject manager – corporate reporting at ACCA said:

‘The four thematic areas of the TCFD’s recommendations – governance, strategy, risk management and metrics and targets – provide a useful framework for disclosure. ‘The detailed implementation guidance in the annex will be particularly helpful for companies preparing to report under the EU’s Directive on the disclosure of non-financial and diversity information.

‘Climate-related disclosures, in our view, will be best integrated into the reporting of the impact of other material factors within the four thematic areas.’

ACCA also welcomed the inclusion of references to the financial impact of climate-related risk, and the ensuing recommendation that this be reflected in companies’ financial statements.

‘In particular, climate-related risks could affect the carrying value of assets and goodwill, and in some cases the going concern status of the business,’ added Ms Chen.

‘Accounting standard setters such as the IASB should be giving greater priority to closing the long-standing gap that exists in reporting the effect of pollutant pricing or emissions trading systems.’

‘Pakistan has always faced extreme climate conditions, but now more than ever before climate or rather managing climate and its connected maladies is posing a threat that’s greater than global terrorism. Water scarcity for example threatens not only human lives but increasingly is being ignored by business processes. A lot of the environmental, social and governance costs needed for managing climate change are “off balance sheet”. This cannot remain the status quo. With game changing strategic investments like CPEC around the corner the cost to Pakistan of not investing in ESG in the short medium and long term may be a price too great.’ said Arif Masud Mirza, ACCA’s Regional Head of Policy – MENASA.

Professional accountants play an important role in helping companies to manage and report climate-related risks more effectively. This is particularly clear in light of this week’s EU adoption of non-binding guidelines for non-financial information reporting, which is another example of the global momentum towards better-informed capital markets and companies fit for the challenges of today’s world.

ACCA is committed to educating the professional accountants of the future, giving them the skills they need to respond to this wider set of challenges, and contribute to a more sustainable future for businesses and our planet.

ACCA-Master’s-Programme

ACCA’s Integrated Master’s Programme With the University of London Changing Lives Across the Globe


Sumera Saeed | category: Education

The first group of graduates to complete the University of London master’s route to ACCA (the Association of Chartered Certified Accountants) membership are looking forward to future opportunities afforded through having two world-renowned qualifications.

Made possible through an innovative partnership between ACCA and the University of London, the MSc in Professional Accountancy is the only integrated master’s programme with an accountancy body at a professional level in the world.

Jane Towers-Clark, head of university education at ACCA, says:

‘The first group of graduates through our integrated masters with the University of London have provided very positive feedback about the self-study programme. Online learning has allowed us to give access to individuals globally the opportunity to gain the skills necessary to have successful careers in finance and accountancy. We are proud to have created this unique programme which allows learners to gain the ACCA Qualification and an MSc in Professional Accountancy at the same time at a fraction of the cost of traditional masters.’

Speaking about his experience of being the first to be awarded the integrated masters and ACCA Qualification, Muhammad Abrar Siddiqui, Faysal Bank Limited, Pakistan says:

‘Being able to complete a masters in a short period of time and the opportunity to study a range of thought provoking subjects is what attracted me to the MSc in Professional Accountancy. Completing the award has allowed me to broaden my knowledge of emerging and developing markets at the same time as giving me insight and direction on how to develop research skills. One of the key strengths of the programme is how greatly informative it is. It offers a great understanding of current accountancy issues. I have been able to improve my career prospects through learning how to become a better problem-solver and decision maker. I found the tutorials for the modules to be well planned and would recommend the courses to fellow students of accountancy.’