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The ACCA full Professional qualification is regarded as the equivalent of a UK master's degree by the UK NARIC and Department for Education. Subjects include: Financial accounting, Management accounting, Financial reporting, Taxation, Company law, Audit and assurance and Financial management.
Many job advertisements for accountants in the United Kingdom therefore specify 'CCAB qualified' as though it was a specific qualification rather than a group of qualifications. In practice some employers use the term as shorthand for 'professional accountant' and might consider members of non-Chartered bodies or overseas equivalents.
ACCA was a sponsor of the AAT before breaking its links in the mid-1990s in order to form the CAT qualification. [1] The rationale behind this move was that it wanted a technician level qualification which followed the same strategic direction of the ACCA qualification, i.e. one with an international profile. [2]
Level 7 qualifications are at a level equivalent to master's degrees, postgraduate certificates and postgraduate diplomas. Level 6 Level 6 qualifications recognise a specialist high-level knowledge of an area of work or study to enable the use of an individual's own ideas and research in response to complex problems and situations.
Under the Mutual Recognition Directive, European Economic Area (EEA) and Swiss nationals holding a professional qualification can become members of the equivalent bodies in another member state. They must, however, pass an aptitude test in understanding local conditions (which for accountants will include local tax and company law variations).
Activity such as qualification development is undertaken from the London head office. In 2011, CIMA left the Consultative Committee of Accountancy Bodies (CCAB). [5] In 2012, CIMA and the American Institute of Certified Public Accountants created the CGMA designation (Chartered Global Management Accountant).
The institute is a member of the Consultative Committee of Accountancy Bodies (CCAB), formed in 1974 by the major accountancy professional bodies in the UK and Ireland. The fragmented nature of the accountancy profession in the UK is in part due to the absence of any legal requirement for an accountant to be a member of one of the many Institutes, as the term accountant does not have legal ...
The AAT Intermediate NQF Level 3 qualification (SCQF Level 6 in Scotland) is approved for the University entrance system with a value of up to 56 UCAS tariff points. [15] This is also included in the KS5 performance tables. The final AAT qualification, the AAT Advanced Level is equivalent to QCF Level 4 and SCQF Level 8. [16]