ACCA Certifications and Training

The ACCA qualification is a set of internationally recognised business qualifications. They cover key skills required to understand the financial operations of a business and they can help you make sound decisions when it comes to both business and finance.

Organisations throughout the world respect ACCA members because of the skills, experience and knowledge they can bring. Becoming an ACCA member requires you to complete the ACCA training which will combine academic study, experience, ethics and examinations, providing you with everything you need to make a real contribution to modern businesses.

AVADO deliver award winning online ACCA courses which offer students a flexible way to study without having to find a local college or training provider near to where you live. The ACCA courses offered are specifically designed to work around your commitments, your current employment and your study requirements. The course is self-paced with structured milestones to help you stay on track.

The course is taught by tutors with a vast amount of experience and you will be guided every step of the way. The way in which AVADO teach has been recognised with the achievement of the Gold award for best distance learning programme at the 2017 Learning Technologies Awards.

What is the ACCA?

The Association of Certified Chartered Accountants is an international professional body. Many graduates hoping to enter industries such as business or accounting are often required to obtain the ACCA qualification as part of completing their graduate programme. The qualification is often seen as being desirable in a number of finance roles such as those within finance teams. The qualification is highly relevant to the field of assurance and audit. Once you have completed the entire pathway you will become eligible to apply for membership of the ACCA.

The course is complex, and it usually takes between three and four years to study. The structure of the course will often depend on the training provider or your employer.

There are three main elements to the ACCA qualification;

• Experience – students will need to progress through at least 36 months in a work-based environment and achieve a total of 13 performance objectives
• Ethics – the completion of a module that explores professional ethics
• Exams – the course has a total of 14 examinations

Exams for the ACCA are set on two levels; the Fundamentals Level and the Professional Level.

The Fundamentals Level will introduce you to finance and management accounting techniques while also teaching you about the technical aspects of the role.

ACCA Qualification – Fundamentals Level

Securing full ACCA status will depend on the completion of multiple units. ACCA courses begin at diploma level through to professional level. There are three main levels:

• Diploma Level – courses from F1 to F3
• Advanced Level – courses from F4 to F9
• Professional Level – courses from P1 through to P7

Course details

There are five main qualifications in the ACCA pathway including the following.

F1-F3 Qualification

The first step in the qualification is to complete the first three papers.

F1 – Accountant in Business | F2 Management Accounting | F3 Financial Accounting

Combined, this course will explore the basics of accounting systems and financial processes typically found within a business in addition to covering the ethical and professional skills that are required within an accountancy practice.

F1 Accountant in Business

Within this paper you will be able to describe the business and its environment as well as the influence that this has on the way in which a business is structured. Students will learn about how accounting and business are connected and the way in which finance contributes to the efficient and ethical operations of the business. By the end of F1 you should be able to:

• Explain the different types of businesses and how they interact with key stakeholders and the external business environment
• Understand the structure of an organisation and corporate governance
• Outline the role of audit and accounting in the communication, reporting and assurance of financial information
• Identify the principles of authority and leadership and the way in which finance teams are recruited, managed and motivated
• Recognise the importance of personal effectiveness to facilitate teamwork
• Understand that business and finance should be carried out to ensure full compliance with professional ethics and values

F2 Management Accountant

This section will guide you through several techniques that underpin controlling, planning and monitoring performance. By the end of F2 you should be able to:

• Describe the source, nature and purpose of management information
• Identify and apply techniques in relation to cost accounting
• Formulate budgets for planning and control
• Make comparisons between actual and standard costs and conduct analysis of any variances
• Apply performance measurements and regularly monitor business performance

F3 Financial Accounting

The third section of this course will teach you everything you need to know about the principles and concepts that relate to financial accounting and help you develop competency in double entry accounting techniques.

The second stage of the ACCA qualification is the completion of papers F4-F6. These will cover:

F4 Corporate and Business Law | F5 Performance Management | F6 Taxation

F4 Corporate and Business Law

After studying this paper, students will be able to apply the general legal framework and legislation to their work. By the end of this paper you should be able to:

• Understand the key components of the legal system and identify the main sources of law
• Describe the various legal rules that relate to the law of obligations
• Outline the law in relation to relationships in employment
• Differentiate between constitutions and alternative forms of business organisations
• Compare the various types of financing and capital
• Explain how organisations are managed, regulated and administered
• Understand the legal implications of insolvency law
• Demonstrate your knowledge of criminal behaviour and corporate fraudulent behaviour

F5 Performance Management

In this course, you will acquire a detailed understanding of management accounting techniques using both qualitative and quantitative information to plan, make decisions, control and conduct evaluations of performance. By the end of this paper you should be able to:

• Expertly apply and explain the techniques that relate to cost accounting
• Deploy suitable decision-making techniques to enable informed business decisions and promote the cost effective use of scarce business resources
• Use appropriate techniques for budgeting as well as applying planning and control methods and using costing systems to control and measure performance
• Understand and communicate performance management information from a financial and non-financial perspective

F6 Taxation

The final paper in this qualification will teach you about the UK tax system and how it relates to businesses, individuals and groups of companies. By the end of this paper you should be able to:

• Understand the tax system and obligations of taxpayers and their agents and the implications associated with non-compliance
• Explain tax liabilities of individuals and how National Insurance Contributions affect employees, employers and the self employed
• Recognise chargeable gains and inheritance tax liabilities that apply to individuals
• Recognise liabilities for corporation tax in relation to individual and groups of companies
• Understand the impact of VAT on incorporated and unincorporated businesses

The last set of qualifications in the ACCA is F7-F9 which includes:

F7 Financial Reporting | F8 Audit and Assurance | F9 Financial Management

F7 Financial Reporting

Students will be able to use accounting theory and standards to prepare detailed financial statements and learn how to analyse and interpret documents. By the end of this paper you should be able to:

• Expertly use regulatory and conceptual frameworks for financial reporting
• Undertake accounting for transactions in line with the international accounting standards
• Conduct analysis and interpretation of financial statements
• Create and deliver financial statements for a single entity in accordance with international accounting standards

F8 Audit and Assurance

Describe processes for conducting assurance engagement and how to apply it in a professional regulatory framework context. By the end of this paper you should be able to:

• Describe audit and assurance and how they operate in a business environment
• Explain how the auditor conducts an audit, learns about the business, conducts an assessment of material misstatement and plans the audit process
• Identify and evaluate various techniques, internal controls and audit tests incorporating IT systems to communicate control risks and their consequences
• Detail the work of the auditor and others in order to meet the objectives of the audit exercise
• Outline how considerations of subsequent events and the application of the going concern principle can inform decisions from the audit process

F9 Financial Management

In this course you will be able to demonstrate advanced accounting skills equivalent to those of a finance manager to carry out processes in relation to financing, investments and dividend policies

Once you reach F9 you have completed the ACCA qualification and you will be eligible for ACCA status. By the end of this paper you should be able to:

• Confidently describe the purpose of financial management
• Undertake an assessment of financial management to determine how it is impacted by the economic environment
• Apply techniques for working capital management
• Undertake a comprehensive investment appraisal
• Highlight and evaluate additional sources of business finance
• Understand principles that relate to business and asset valuations
• Identify and apply risk management strategies