When you are working your way to obtaining ACCA membership, there are a number of qualifications you can acquire throughout your journey. Take a look at some of these qualifications:
ACCA Diploma in Accounting and Business (RQF Level 4): you can earn this qualification upon completion of the Applied Knowledge module and the online module of Foundations in Professionalism. By the time you earn this qualification, you should have an understanding of:
- The importance of accounting in business and the ideologies of team management within an ethical framework;
- Preparing accounting systems and management reports;
- Organizing accounting information and preparing key external financial reports for regulatory purposes.
ACCA Diploma in Financial and Management Accounting (RQF Level 3): In order to obtain this qualification, you have to complete and pass additional modules that include Managing Costs and Finance and Maintaining Financial Records.
Other from these, completing the Foundations in Professionalism module is also mandatory. At this level, you should be able to process key cost and financial accounting information in the requested format and comply with the legal requirements.
ACCA Certificate in Taxation (RQF Level 4): this qualification can be earned by successfully completing the Taxation unit from the Applied Skills module, the Advanced Taxation unit from the Strategic Professional module and the Foundations in Professionalism module. Obtaining this certificate is suitable for those who are interested in specializing in taxation or those who want to add it as a skill while pursuing a broader accounting qualification. Upon earning this qualification, you should be able to prepare and analyze critical taxation calculations and comprehend knowledge in the entire taxation domain.
ACCA Certificate in Audit (RQF Level 4): If you want to earn this qualification, you have to pass the Foundations in Audit exam and the Foundations in Professionalism module. Upon passing this exam, you should be able to understand:
- The purpose and nature of an audit;
- The responsibilities of auditors and the rules they must adhere to;
- The method of auditing financial statements;
- How to find audit evidence and prepare the subsequent audit report.
ACCA Certificate in Financial Management (RQF Level 4): this qualification can be earned upon successfully completing the Financial Management unit from the Applied Skills module, the Advanced Financial Management unit from the Strategic Professional module and the Foundations in Professionalism module. At this stage, you should be able to manage cash flow in the short-run and the long-run, control working capital and handle trade credit in a manner that helps in efficient cash flow in the organization.
BSc (Hons) degree in Applied Accounting: ACCA in collaboration with Oxford Brookes University gives students an opportunity to earn a BSc (Hons) Degree in Applied Accounting. In order to obtain this degree, you need to earn the ACCA qualification, pass the Ethics and Professional Skills module and successfully complete the Oxford Brookes University Research and Analysis Project.
MSc in Professional Accountancy: ACCA is the first professional accountancy body in the world that allows its students to earn an integrated master’s qualification, which is awarded by the University of London. You can apply for this degree if you have completed your ACCA qualification or are a current ACCA student.