Every business establishment and industry, irrespective of the domain or field of expertise requires well-qualified accountants to run the business successfully. A well-established accounting team can make a real difference with financial stability and a rewarding perspective.
This blog will brief you about some of the important subjects that are required to qualify for the ACCA exam.
Even if you are giving ACCA for the first time or just need a little push to complete the last module of the exam, you can always take up a preparatory course to qualify the ACCA exam. The preparatory courses for ACCA examination focus solely on guiding and training students for the career in accountancy with ACCA body membership. These courses significantly emphasize subjects like accounting, taxation, account management, and business analytics for being the core modules of the ACCA examination.
Accountant in Business: You need to understand the contemporary business environment and its influence on the operation of organizations within the accounts department by providing a thorough introduction to the foundations of effective management. There is a dire need to comprehend the organizational structure and management of an organization with its key environmental influences and constraints. History and the role of accounting in leading and managing teams by recruiting and developing effective training programs with a focus on special functions of accounting along with financial control is an important part of accounting subjects. You also need to understand the role of an accountant in the development of an effective and ethical organization.
Taxation: In this subject, you need to gain a thorough understanding of the business taxation system and how it impacts the business establishments. There is no hard and fast rule as to when a particular topic will occur in exam so it is better to focus on all the main elements of this paper including trading profits, national insurance, personal tax computations, capital allowance, employment income, capital gains tax, property business profits, investment income, corporation tax, and value-added tax. You need to focus on the structure of basic income tax computations. Try to grasp the depreciation rules with fixed asset classification with all the available choices. It is extremely important to understand the distinguishing factors between the six types of earnings with the principles of cumulation.
Accounting Management: In this paper, you have to learn the process of preparing the basic quantitative information with the objective of guiding management in decision-making processes. The focus area in this subject includes cost classification, behaviour with the purpose of cost accounting techniques, budgeting and standard costing with business calculations and computer spreadsheets. You need to understand the nature and purpose of cost and management accounting with short-term decision-making techniques. You have to upgrade your analytical skills to examine the financial statements by using percentages and ratios to assess the performance of an organization.
Business Analysis: The sole purpose of this subject is to impart the students with abilities to formulate business strategies and to make comprehensive professional judgments by implementing efficient technology to manage quality processes and projects. Focus areas include information technology, quality issues, project management with strategic actions, financial analysis, calculating strategic position by making strategic choices in business processes.
So, if you are interested in qualifying the ACCA qualification, ponder upon the aforementioned points and consider signing up for a preparatory course offered by institutions worldwide. So that you can explore the bright career in accounting with the ACCA course.