Category Archives: CPA

IMA and ACCA Announce New Global Strategic Initiative and Mutual Recognition Agreement

On the one-year anniversary of their strategic partnership, IMA® and ACCA (Association of Chartered Certified Accountants) announced a new strategic initiative for the global finance profession, Financial Leadership and Performance.

This initiative to support the career development goals of CFOs and other aspiring professionals was officially launched on June 23 during IMA’s Annual Meeting of Members at the start of the IMA 94th Annual Conference & Exposition in New Orleans.

Also at that meeting, the two organizations signed a Mutual Recognition Agreement, which was approved by the ICMA® Board of Regents and ACCA’s Council.

Pictured left: Barry Cooper, ACCA’s president, and John Macaulay, CMA, IMA’s Chair 2012-2013sign a Mutual Recognition Agreement at IMA’s Annual Conference & Exposition in New Orleans.

The Mutual Recognition Agreement enables members of both organizations, subject to standard conditions of membership, a clear pathway to one another’s credentials based on a rigorous content and curriculum review: IMA’s CMA® certification or ACCA’s professional membership.

Under the agreement, which becomes effective early next year, IMA members who have completed the CMA qualification and undertaken the following requirements shall be considered to have met the education, examination, and experience requirements to be a qualified member of ACCA: (1) Pass ACCA’s three Essentials exams – P1 Governance, Risk and Ethics, P2 Corporate Reporting, and P3 Business Analysis; (2) complete ACCA’s Professional Ethics module; and (3) complete or document an additional year of practical experience.

In turn, ICMA will grant the CMA certification to those ACCA qualified members who have passed the exam parts P4 Advanced Financial Management and P5 Advanced Performance Management, as well as to those ACCA members who have passed the comparable two parts in prior syllabi. All other ACCA qualified members can waive part 2 (Financial Decision Making) of the CMA exam and would be required to pass part 1 (Financial Planning, Performance, and Control) to become certified as a CMA.

For complete information on the agreement, please see a list of frequently asked questions.

As part of the Financial Leadership and Performance initiative, ACCA and IMA will support professionals through a variety of resources:

 

A new co-sponsored website (www.roleofcfo.com) – A resource for finance leaders, containing ACCA and IMA reports, research, and insights.

CFO Pathways – A research report covering the future of CFOs’ work, their role, and changing career paths.

Continuing Professional Development/Continuing Professional Education – Resources that focus on financial leadership and performance, including articles, webinars, videos, and e-learning courses.

In the press release announcing the agreement, Barry Cooper, ACCA’s president, said, “Both our credentials are the result of rigorous qualification and assessments, with a clear commitment to producing ethical, reputable and high performing members. Together, we understand the issues and drivers of success for the CFO and the finance team. The announcements made today, including flexible pathways to our respective exams and compelling CFO resources, are indicative of our commitment to sustainable organizational success.”

John Macaulay, CMA, IMA’s Chair 2012-2013, added, “Collectively, ACCA and IMA represent 653,000 members and candidates, with a unique global network of 89 offices and centers around the world, including more than 200 local chapter communities. With today’s announcements, we have the opportunity to deliver even more value to the global profession, supporting CFOs and those aspiring toward that goal. We will continue to support excellence in management accounting through tested certification.”

For additional information about this strategic initiative, please find more information here.

ACCA (Association of Chartered Certified Accountants) is the global body for professional accountants with 162,000 members and 426,000 students in 173 countries worldwide. It offers 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. For more information, please visit www.accaglobal.com.

 

Know more about ACCA and CMA at PMTC Global

ACCA QUALIFICATION at PMTC Global

ACCA is a UK based accountancy body is one of the largest and fastest-growing global accountancy bodies which offers the Chartered Certified Accountant qualification worldwide. In order to achieve the prestigious membership and use the designation ‘ACCA’ after your name, you will have to complete:

 ·  Exams             14 exams (exemptions can be claimed up to nine papers)

·  Experience    36 month’s relevant practical experience requirement for Membership (Before, during or After ACCA)

·  Ethics              Professional Ethics Module(Online)

ACCA Entry Routes

ACCA offers various entry routes, depending on your age and previous academic qualifications.
ACCA Dubai by pmtcglobal.com

ACCESS TO ACCA VIA FIA QUALIFICATION CLAIMING EXEMPTIONS
- No academic qualification required to do FIA- Complete the Diploma in Accounting and Business (F1, F2 & F3) through the Foundations in Accountancy(FIA) route, and you can transfer onto the ACCA Qualification from the fourth exam (F4 – Corporate and Business Law) onwards. 

- Relevant degree holders may be exempted from all nine exams within the Fundamentals Level and register directly at the Professional Level.
For details, refer to ACCAGlobal Exemption Support

 

ACCA Course Structure

 

Fundamentals Knowledge/FIA Fundamentals Skills Professional Essentials
 F1- Accountant in Business

F2- Management Accounting
F3- Financial Accounting

 F4- Corporate and Business Law

F5- Performance Management
F6- Taxation
F7- Financial reporting
F8- Audit and Assurance
F9- Financial Management

 P1- Corporate Governance, Risk and ethics

P2- Corporate Reporting
P3- Business Analysis

 

Professional Options

 

P4* Advanced Financial Management
P5* Advanced Performance Management
P6* Advanced Taxation
P7* Advance Audit & Assurance
*Choose two out of four options

ACCA Exams Structure

 

Exams Intakes Exams Format Exams Results
Paper based exams (for all levels) are conducted every Juneand December.Knowledge level papers can be taken as Computer Based Examinations (CBE) which can be attempted any time in the year

CBE papers has the following format:- Duration two hours- Contains 50 questions (all worth two marks)

- out of 100 marks

- has a pass mark of 50%
Skill and professional level papers have 3 hour paper based examinations with 15 minutes reading time

June attempt – Announced on the 8th of August
December attempt – Announced on the8th of February

 

CBE’s – result is available immediatlyafter the Exam (only for F1, F2, F3 & FIA papers)

 ACCA Fees Structure

Payable to 
ACCA–UK
No. of Papers Exam Fee GBP(£) CBE (AED) Payable to
PMTC Global
Tuition Fee AED.*
ACCA Registration - £79 (Aed.480) - PMTC Registration FREE
Knowledge 3 - 480/paper F1 , F2 , F3 2000/paper
Skills 6 £ 81/paper** - F4 , F5 , F7
F6 , F8 , F9
2400/paper
2500/paaper
Professional 5 £ 94/paper** - P1 , P3 , P5
P2, P4 , P6 , P7
2600/paper
3000/paper
Annual Subscription - £ 79/year - Total Expense (approximately) AED. 42720
OBU BSc. Hons. Thesis (optional) - £ 181 - OBU BSc. Hons. Thesis (optional) AED. 1000
* Tuition Fees include 60 hours Tuition classes, 15+ hours Revision sessions, BPP/Kaplan Text books, Revision kits, ACCA past papers, Question Based Evening(QBE), online access to Mock Exams, Class Notes, etc

 ** Subject to Early exam entry till 8th September (December 2013 attempt)

Know More about ACCA at PMTC Global

Find out Average ACCA salaries in U.A.E

UAE had been quite a good market for Pakistani accountants whether partly qualified CAs or ACCAs. Moreover, our engineers had much demand over there. However, the situation in UAE, after the economic crisis, is heard to be not very good right now any layoffs is a continuous phenomena.

UAE is not diversify economy especially Dubai emirates, here major or only sector you can say is construction/real estate industry or its supporting industries. Other industry is shipping/cargo & Foods sector.

Employees with a Chartered Certified Accountant: ACCA (Association of Chartered Certified Accountants) Certification

Salary Ranges by Job
Job Title
National Salary Data (?)
AED 0 AED 210K AED 420K
Accountant

44 salaries
AED 36,407 – AED 215,424
Financial Controller

8 salaries
AED 45,781 – AED 412,707
Senior Auditor

6 salaries
AED 44,219 – AED 195,334
Assistant Accountant

6 salaries
AED 24,202 – AED 61,042
Auditor

6 salaries
AED 58,958 – AED 102,550
accounting-and-finance-salaries-uae2
Country: United Arab Emirates | Currency: AED | Updated: 25 Jul 2013 | Individuals Reporting: 146