ACCA (UK)

Introduction of the Professional Body

ACCA (the Association of Chartered Certified Accountants) is the global body for professional accountants. They aim to offer business-relevant, first-choice qualifications to people of application, ability and ambition around the world who seek a rewarding career in accountancy, finance and management. They support their 198,000 members and 486,000 students throughout their careers, providing services through a network of 101 offices and active centers in 181 countries. Their global infrastructure means that examinations and support are delivered – and reputation and influence developed – at a local level, directly benefiting stakeholders wherever they are based, or plan to move to, in pursuit of new career opportunities. Their focus is on professional values, ethics, and governance, and they deliver value-added services through global workforce ofmore than 1,000 people in accountancy partnerships, working closely with multinational and small entities to promote global standards and support. They use their expertise and experience to work with governments, donor agencies and professional bodies such as the International Federation of Accountants (IFAC) to develop the global accountancy profession and to advance the public interest. Their reputation is grounded in over 100 years of providing world-class accounting and finance qualifications. They champion opportunity, innovation, diversity, integrity and accountability. By promoting their global standards and supporting their members wherever they work, they aim to meet the current and future needs of international business.

Benefits of ACCA Qualification

  • Its flexible mode provides students an opportunity to work while they are studying.
  • Better employment prospects due to international recognition of the qualification.
  • ACCA is recognized in almost 181 countries and through their relationship building, they have achieved strong recognition in all the countries.
  • Candidates not only gain specialist knowledge in finance and accounting but also acquire valuable skills in organizational management and strategy development.
  • The qualification does not concentrate only on theory but prepares a graduate for practical usage.
  • Opportunity to have UK universities BSc (Hons.) after passing 9 papers out of total 14 papers and to pursue MBA from international universities.

Eligibility

ACCA offers different entry routes, depending on your age and previous academic qualifications.

Route – A

  • 2 Passes in GCE A' Levels and three GCSE/ GCE O’ Level in five separate subjects including Math's and English (If not English, then IELTS 6.5 band or TOEFL with CBE – 170/PBE 500 scores).
  • American Higher School Certificate with at least 50%

Route – B

  • Graduation (B.A, BBA, B.Com, B.Sc from any recognized University)

Route – C

Via ACCA Foundations Diploma (FD) or Foundations in Accountancy (FIA)

  • Recommended for Matriculate or Intermediate passed students
  • Students having passed the Seven Examinations from Introductory, Intermediate and Diploma stage of FD/ FIA qualification are eligible for exemptions of knowledge modules (F1, F2 & F3) papers. (requiring 11 papers to pass out of total 14)

Exemptions in ACCA

A maximum of nine papers at the Fundamentals level of the ACCA Qualification can be awarded. To preserve the integrity and rigor of the ACCA Qualification and to ensure that all students share a common experience, ACCA does not award any exemptions at the Professional level. Exemption from all three levels of the Certified Accounting Technician (CAT) Qualification can be considered, depending on the standard and equivalence of the qualification held. Exemptions are also available for the Foundations in Accountancy suite of awards. No exemptions are awarded from any of the papers of modules examined within ACCA's suite of post-professional qualifications.

Previous Qualification Exemptions from ACCA Papers
MBA F1-F3, (depending upon specialization)
M.Com F1-F4
BBA (Honours) F1-F3, (depending upon specialization)
CA Intermediate (ICAP) F1-F3
CA Complete (ICAP) F1-F9
CA Complete (ICAEW) F1-F9
CIMA (UK) F1-F9
CMA (ICMAP) F1-F4

Modules

The ACCA qualification has two levels, the Fundamentals level and the Professional level. Both must be passed if you are to become qualified. The levels are made up of distinct modules that are studied sequentially. They are designed to give you a full understanding of every aspect of professional accountancy

Knowledge Module

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

Essentials Module

SBR – Strategic Business Reporting SBL - Strategic Business Leader

Skills Module

F4 – Corporate and Business Law F5 – Performance Management F6 – Taxation F7 – Financial Reporting F8 – Audit and Assurance F9 – Financial Management

Optional Module

P4 – Advanced Financial Management P5 – Advanced Performance Management P6 – Advanced Taxation P7 – Advanced Audit and Assuranc

Examination Structure

Exam Format (F1, F2, F3)

Each examination:

  • is of two hours duration
  • is out of 100 marks
  • has a pass mark of 50%
  • contains 2 sections:
  • section A contains objective test questions (OTs)
  • section B contains multi-task questions (MTQs)

Exam Format (F4)

The syllabus is assessed by a two-hour examination The examination consists of:

Section A

  • 25 x 2 mark objective test question 50%
  • 20 x 1 mark objective questions 20%

Section B

  • 5 x 6 mark multi-task questions 30%

Exam Format (F5 - F9)

Exam Format (F5 - F9)
Subject Current Exam Format Future CBE Exam
F5 Performance Management F7 Financial Reporting
F9 Financial Management
• 20 x 2 mark MCQ

• 3 x 10 mark CR**

• 2 x 15 mark CR**

• 15 x 2 mark OT*

• 3 x 10 mark OT* case

• 2 x 20 mark CR

F6, Taxation • 15 x 2 mark MCQ
• 4 x 10 mark CR
• 2 x 15 mark CR
• 15 x 2 mark OT*
• 3 x 10 mark OT* case
• 2 x 15 mark CR
• 1 x 10 mark CR
F8, Audit, and Assurance • 8 x 2 mark MCQ
• 4 x 1 mark MCQ
• 4 x 10 mark CR
• 2 x 20 mark CR
• 3 x 10 mark OT* case
• 1 x 30 mark CR
• 2 x 20 mark CR

 

All the exams apart from F8 have three sections, featuring:
 Objective Test questions (also known as OT questions)
 OT Case questions
 longer, Constructed Response questions
F8 exams are slightly different. They are in two parts and feature OT Case and Constructed Response questions.

QUESTION TYPES EXPLAINED
The following section gives some explanation of the question types found in the new CBEs.
Objective Test questions (OTs)
OT questions are single, short questions that are auto-marked and worth two marks each. Students have to answer the whole question correctly to earn their two marks. There are no partial marks

OT Case questions
Each OT Case contains a group of five OT questions based around a single scenario. These can be any combination of the single OT question types and they are auto-marked in the same way as the single OT questions.
OT Cases are worth 10 marks (each of the five OTs within it are worth two marks, and as with the OT questions described above, students will receive either two marks or zero marks for those individual questions).

Fee Structure

Registration and Subscription Fees

The following fees apply from 9 November 2013 onwards (and are subject to change without written notice):

ACCA/ Foundation Level Qualifications
Initial registration £79
Annual subscription £97
Re-registration fee £79*
*plus an unpaid fee(s)

Exam Entry

Once you have become an ACCA student and have started studying, the next step will be to register for your exams. Or if you have already decided when you want to start taking examinations, you can enter for them at the same time as you apply online to become a student. Entering for examinations online is quick and convenient. You will receive instant confirmation that you have been entered for the examinations, saving you valuable time to do more important things - like studying for them! Please note the following: If you're still not sure entering for an examination online is the way to go and you complete the paper-based exam entry form, this must be received at ACCA's examinations department in the UK by the specified standard closing dates above. Please remember to allow time for postal delivery.

Important Dates of Different Months

The closing dates for early, standard and late examinations entry are easy to remember - 8 is the date.

Closing Dates

June 18 Examinations
12 Feb 18 Early entry (online only)
30 April 18 Standard examination entry (online and paper-based both)
7 May 18 Late examination entry (online only)
Sep 18 Examinations
14 May 18 Early entry (online only)
30 July 18 Standard examination entry (online and paper-based both)
06 Aug 18 Late examination entry (online only)

ACCA Qualification Examination Entry Fees

Examination level Examination entry period June 2018examination fee (per examination) Sep 2018 examination fee (per examination)
Knowledge: F1, F2, and F3 Early
Standard £85 £85
Late
Skills: F4, F5, F6, F7, F8 and F9 Early £100 £100
Standard £105 £105
Late £269 £269
Professional: P1, P2, and P3 (and any two from P4, P5, P6, and P7) Early £125
Standard £132
Late £298
On passing all ACCA examinations, a student becomes an ACCA Affiliate. ACCA first annual affiliate payment needs to be made by 1st January following the date on which you received your final examination results. Affiliates are entitled to pay a reduced affiliate subscription for up to three years.
Affiliates' Fees
Subscription (Reduced Rate) £121
Permanent subscription (Standard Rate) £236

 

Admission to Membership Fee 

An affiliate, on completion of his three years job/ training (Details below) becomes eligible to apply for the membership of ACCA. On admission, members are required to make a one-off payment. This fee covers the administration involved in assessing membership applications and is totally separate from the subscription fee.

Members' Fee
Subscription £236
Admission to the membership fee £236

Practical Experience Requirement

The ACCA qualification prepares students for a challenging and often demanding career as professional accountant. It is not sufficient to solely rely on theoretical knowledge developed through examination process. The ACCA qualification closely links practical experience to the examination syllabus. To qualify as an ACCA member, students will need to complete three years of relevant practical experience in order to achieve 09 performance objectives (Five essentials and four from five options). Ideally, students should start working while studying for their ACCA examinations. However, this may be completed before or after qualifying ACCA examination.

Benefits of Studying ACCA from CFE

  • The leading brand in Accountancy and Finance qualifications
  • Comprehensive and organized study programmes ensuring guaranteed success in each exam
  • Faculty includes the number of professional tutors including 22 ACCAs
  • Accreditation from world-renowned professional bodies
  • Self-developed, research-based study material
  • Out of class academic support
  • Regular class tests, quizzes, and mock examinations
  • Merit-based scholarships and financial assistance
  • Career counseling
  • A wide selection of weekday and weekend course options with possibilities to mix & match courses

CFE's Accreditation/ Affiliation with ACCA (UK)

Approved Tuition Provider
CFE is Gold approved tuition provider of ACCA
Licensed CBE Centre
CFE is ACCA’s approved CBE centre

Financial Assistance

  • The financial assistance approved will be applicable for the current session only. If a student wishes to apply for the next session, a new application along with the new enclosure will be required and complete procedure to be followed.
  • Students who are transferring from CAT/ FIA, CA/ CMA or CIMA will be required to fill a new application along with the required enclosures
  • The financial assistance approved in the previous qualification will not be carried forward. The new application will be assessed again

Procedure

  • A form should be submitted to Manager Coordination
  • Students will be interviewed by Manager Coordination
  • Based on the interview, the recommendation is made to the Principal for Financial Assistance
  • Principal approves the Financial Assistance as per policies of the institute and keeping in view the budget of donations- allocated
  • All applications will be processed within one week of submission

Scholarships 

Sr. No. Qualification Marks Obtained Scholarships (%age of Tuition Fee)
1 A-Levels Position holder 100%
6 or more A's 50%
2 A's 40%
1A + 1B 25%
2 B.A/ B.Sc Position holder 100%
65% or above 50%
60% - 64% 40%
3 B.Com Position holder 100%
70% or above 50%
65% - 69% 40%
60% - 64% 25%
4 M.Com Position holder 100%
70% or above 50%
65% - 69% 40%
5 Students domiciled and resident outside Lahore 20%
6 Hafiz-e-Quran 20%
7 Orphans 20%

Faculty 

Paper Name Qualification Teaching Experience Email
F4 Qasim Javed LLB Hons. (London), LLM 12 qasimjavedchaudhry@yahoo.com
F5 Raed Nazir FCCA, MIPA (Aus), ASA (Aus) 17 raedacca@gmail.com
Imran Thakur ACMA, M.Phil Finance 9 imranthakur@hotmail.com
Rabia Tabassum ACCA, M-Com 11 rabi_saqib@hotmail.com
F6 Raed Nazir FCCA, MIPA (Aus), ASA (Aus) 17 raedacca@gmail.com
Fariha Khan ACCA 2  khanfariha@hotmail.com
F7 Omer Yusuf FCCA, M.Sc (Eco), Advance Diploma in Acc. & Fin. (UK) 12 omeryusuf_78@yahoo.com
Imran Abbas M.Phil.Finance, ICMA (Fin)  8 imranabbaskhan@hotmail.com
Faizan Abid ACCA  2 faizanabid45@gmail.com
F8 Muhammad Abu Bakar FCCA, ACA 14 abubakar@bakertillymiq.com
Sadaf Maaz ACA, FCCA 13 sadafmaaz@gmail.com
Zahid Arshad ACCA 2 zahid.arshad44@gmail.com
F9 Adnan Rashid FCA 15 adnan@cfe.edu.pk
Raed Nazir FCCA, MIPA (Aus), ASA (Aus) 17 raedacca@gmail.com
Imran Thakur ACMA, M.Phil Finance 9 imranthakur@hotmail.com
Umer Farooq ACCA, MSc (Acc & Fin) UK 7 umermma@gmail.com
P1 Sadaf Maaz ACA, FCCA 13 sadafmaaz@gmail.com
Muhammad Abu Bakar ACA, FCCA 14 abubakar@bakertillymiq.com
Zahid Arshad ACCA 2 zahid.arshad44@gmail.com
P2 Omer Yusuf FCCA, M.Sc (Eco), Advance Diploma in Acc. & Fin. (UK) 12 omeryusuf_78@yahoo.com
Imran Abbas M.Phil.Finance, ICMA (Fin) 8 imranabbaskhan@hotmail.com
P3 Omar Khan MBA (UK), M.Phil Management 10 umar.khan.70@ucp.edu.pk
Kamran Azim FCA 22 kamran.azim@kashf.org
P4 Adnan Rashid FCA 15 adnan@cfe.edu.pk
P6 Raed Nazir FCCA, MIPA (Aus), ASA (Aus) 17 raedacca@gmail.com
P7 Muhammad Abu Bakar ACA, FCCA 14 abubakar@bakertillymiq.com
Sadaf Maaz ACA, FCCA 13 sadafmaaz@gmail.com

ASD

  • Out-of-Class academic support for weak students
  • Make-up classes for students who have missed out their regular class
  • Additional practice session, especially for numerical subjects
  • A qualified ACCA is heading the department
  • 6 dedicated academic support officers for after-class student support

Admission Rules

1. Registration fee is non-refundable and non-transferrable.
2. Admission process must be completed before commencement of classes
by depositing institute's dues.
3. Any outstanding dues must be cleared as per due dates.
4. After the expiry of the due date, students with an outstanding balance will not be
allowed to take classes of any enrolled subject.
5. Students are not allowed to drop any course/paper after enrollment.
6. If a student wishes to take an extra class of any paper with another batch, he/she
must inform the respective course coordinator.
7. If a student wishes to re-sit in any course, a 50% tuition fee will be charged.
8. Course, for which a student is enrolled, may be canceled, due to any
circumstance, beyond the institution’s control. However, in the event of such
cancellation, students will be informed and fee submitted will be refundable
without any deduction.

Association of Chartered Certified Accountants (ACCA) In Lahore Pakistan

ACCA has been a standout amongst the most renowned degrees of accountancy as of late. It isn't constrained to one area due to it being regarded all around the world similarly. The world is becoming quick and with its development grows the appetite of the corporate market for accountants and business managers. The word ACCA is an abbreviation of Association of Chartered Certified Accountants. The name demonstrates the motivation behind the degree as it is the worldwide body of all the expert accountants. ACCA prime point is to give business related data and accounting capability to the general population of aspiration and capacity who look to have a profession in the board accountancy and business.

All around the globe, the business bodies look for ACCA individuals to take their organizations to an unparalleled stature. Since they realize that the ACCA qualified individual is a strategical scholar with high moral respectability, solid key know-how, and right business understanding. The estimation of an ACCA part is static all around the world since all the ACCA individuals have pursued a similar example to be the place they are today. The pathway towards accomplishment in ACCA's guide is through various tests, morals, and encounters. When you qualify ACCA you get a great deal of chances before you to profit. For instance, you turn into an individual from the world's most ground-breaking accountants body, open ways to circumstances the whole way across the world, improve the world a place, get bolster all through your voyage and build up your aptitudes.

ACCA in Pakistan has its bases all on the nation. The communities for ACCA in Lahore are anything but difficult to approach and give truly moderate and splendid instructing. One of the main four schools of ACCA in Lahore is CFE group of colleges. It has a solid framework develop just to enable the understudies to inspire the most exceptional educational costs to get the capability. This school furnishes the understudies with splendid mentors who are qualified as an ACCA part and are rehearsing Accountancy in their lives since long. They champion chance, advancement, assorted variety, trustworthiness, and responsibility. By advancing their worldwide measures and supporting their individuals wherever they work, they mean to meet the present and future needs of universal business.

On the off chance that a student needs to seek after his future in the fields of accounting and fund and he has no past capability or involvement in the applicable field, at that point foundation diploma is an incredible place to begin. After the finish of foundation diploma, the student is naturally exchanged to ACCA with given exclusions of initial three papers. The ACCA establishment confirmation is the main worldwide expert body to have its passage level essential authentically perceived as being equal to a Higher Secondary School declaration.

ACCA has been one of the most prestigious degrees of accountancy in recent times. It is not limited to one region because of it being respected all around the globe equally. The world is growing very fast and with its growth grows the hunger of the corporate market for accountants and business analytics. The word ACCA is an acronym of Association of Chartered Certified Accountants. The name indicates the purpose of the degree as it is the global body of all the professional accountants. ACCA prime aim is to provide business related information and accountancy qualification to the people of ambition and ability who seek to have a career in management accountancy and business.

All around the world, the business bodies seek ACCA members to take their businesses to an unparallel height. Because they know that the ACCA qualified person is a strategical thinker with high ethical integrity, strong fundamental know-how, and right business insight. The value of an ACCA member is static all around the globe because all the ACCA members have followed the same pattern to be where they are today. They pathway towards success in ACCA’s map is through a number of exams, ethics, and experiences. When you qualify ACCA you get a lot of opportunities in front of you to avail. For example, you become a member of the world’s most forward-thinking accountancy body, open doors to opportunities all across the world, make the world a better place, get support throughout your journey and develop your skills.

ACCA in Pakistan has its centers all around the country. The centers for ACCA in Lahore are very easy to approach and provide a very affordable and brilliant coaching. One of the top four colleges of ACCA in Lahore is CFE group of colleges. It has a strong system build up just to help the students get the most remarkable tuitions to get the qualification. This college provides the students with brilliant tutors who are qualified as an ACCA member and are practicing Accountancy in their lives since long. They champion opportunity, innovation, diversity, integrity, and accountability.

When a student pursues his ACCA in Lahore he gets to meet a lot of other opportunities as well, as Lahore is one of the big cities of Pakistan and provides the platform for various business handlings and queries. There are always several business-related events happening around the city. Along with providing the business student a stage for observing and experiencing the business ethics and fundamental closely, ACCA in Lahore offers other core qualifications as well. For example,

A Bachelor of Science in Applied Accounting which is centered on the needs of employers for practical, professional accounting - BSc (Hons)

A master’s in professional accountancy designed to broaden business understanding and enhance strategic decision making - (MSc)

 Employers all around the world expect the ACCA members to be highly qualified when it comes to business, management, and accountancy related problems. ACCA members are expected to show their highly trained skill sets and use the knowledge and techniques achieved through studies and courses in practical and real-life problems. Along with achieving the ACCA degree and becoming the member of ACCA global body, there are some practical experience requirements which the students have to fulfill during or after their completion of studies.

ACCA is an acronym for Association of Chartered Certified Accountants and is the global body for professional accountants. ACCA providing services through a network of 101 offices and active centers in 181 countries. They support their 198,000 members and 486,000 students throughout their careers. Their focus is on professional values, ethics, governance, and their deliver value-edited services through global work force of more than 1000 people in accountancy partnership, working closely with multinational and small entities to promote global standards and sport.

Benefits of ACCA in Pakistan are that its flexible mode provides students and opportunities to work while studying. Better employment prospects due to international recognition of the qualification is also one of the key reimbursements provided by ACCA in Pakistan. As ACCA has 181 active centers and 101 offices all over the world, they have achieved strong recognition in all the countries through relationship building. Candidates not only gain specialized knowledge in finance and accounting but also acquire valuable skills and organizational management and strategy development, plus, to have the opportunity to study in UK universities, BSC honors after passing nine papers out of total 14 and to pursue MBA from international universities.

As per the requirements of ACAC, there are three routes to enter,
Route A: 2 papers in GCE A levels and three GCSE/GCE O levels in 5 separate subjects including math and English (if not English then EILTS 6.5 band or TOEFL with CBE - 170/PBE 500 scores). American high school certificate with at least 50%.
Route B: Graduation B.A, BBA, B.com, BSC from any recognized university.
Route C: Via ACCA foundations diploma (FD) or foundation in accountancy (FIA).
This is recommended for matriculate or intermediate pass students

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CFE Group of Colleges started out as an industry competitor but soon became the industry standard in the fields of commerce, accountancy, and finance.

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