Career Guide: ACCA

ACCA stands for Association of Charted Certified Accountants. It is a UK based qualification that is recognised in 14 countries around the globe.

Accountancy is one of those careers which give you hundreds of options. Since accountants are needed everywhere,e their role is crucial in every organisation no matter how big or small it is. If you want a challenging and rewarding career, then ACCA is the best option.

There are two levels of ACCA exams:

1. Fundamental level (paper F1 to F9)

2. Professional level (P1 to P7, a total of five papers from P1 to P3 is compulsory and two are optional)

Options in the field of chartered accountancy in Pakistan include CA — Chartered Accountancy, a Pakistan based qualification and CIMA — Chartered Institute of Management Accountants (CIMA), a UK based qualification.

The qualification is obtained after clearing 14 papers, gaining three years of experience and completing one ethics module. It usually takes two and a half years to clear all the papers but the time varies depending on the individual.

The fundamental level paper F1 to F9 is equivalent to a degree level and the professional module is equal to a master’s level.



Entry route

There are a number of ways one can opt for ACCA:

•    After completing Intermediate or A levels with English and Maths

•  After completing B.Com

•  A degree-exemption may be given on the basis of degree, subjects studied and awarding institutes, for e.g. MBAs, who get exemption for certain papers.

•  After completion of the CAT exam.

•  On maturity basis, even a Matriculate can enrol if he/she is 21 or above.

Career options

With ACCA qualification you gain expertise in any one area of accountancy e.g. audit or tax. Can work as a consultant providing financial advice and information or you may manage the finances of an organisation. As a qualified certified chartered accountant you can work as an internal and external auditor in any firm or organisation.



Where to go?

Karachi

•  Tabanis School of Accountancy

•  College of Accounting and Management CAMS

•  Al-Hamd Academy

•  CMS

•  Mirchewala

•  Abeel’s

•  School of Business Studies

•  ICAP

Lahore

•  SKANS – School of Accountancy

•  RISE School of Accountancy

•  National College of Business Administration and Economics

•  Professional Academy of Commerce

Islamabad

•  SKANS — School of Accountancy

•  The University of Lahore Business School

•  University College of Islamabad

•  Accountancy College of Excellence

•  Beacon House Business School

Peshawar

•  The Professionals Academy of Commerce



Published in The Express Tribune, May 7^th, 2011.