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  • FCCA Certification: What is it and How to Achieve it?

    FCCA Certification: What is it and How to Achieve it?

    OVERVIEW:

    Fellow of the Association of Chartered Certified Accountants, or FCCA Certification, is a reputed certification awarded by the body of ACCA’s Global. This certification is awarded to the individual who has expertise in financial management, auditing, or accounting, is in a senior professional role, and has a good understanding of global accounting standards, practices, and regulations. To know more about the FCCA Certification, read the complete blog: 

    REQUIREMENTS TO ACHIEVE FCCA CERTIFICATION: 

    To achieve this Certification, an individual needs to be an ACCA member. Without completing the ACCA qualification, you cannot become a fully qualified ACCA professional or an ACCA member. Hence, to be eligible for FCCA certification, an individual firstly needs to clear all the ACCA exams. There are 13 exams divided into three levels: 

    • The first one is the applied knowledge level, which is the basic level of ACCA, and there are a total of 3 papers at this level. 
    • The second one is the applied skills level; this level is a step ahead of the previous one, and there are 6 papers in this level. 
    • The last one is the strategic professional level, which is an advanced level of ACCA, and there are 4 papers in this level, which are optional. 

    PRACTICAL EXPERIENCE: 

    To become eligible for FCCA certification, clearing ACCA exams only isn’t enough. You also need to complete the professional/work experience required for ACCA qualification. The work experience should be about three years in the related field of accounting or finance. Students can gain experience working in the roles of financial analyst, tax advisor, auditor, etc. Also, the work experience should be recorded and verified by a qualified ACCA member. 

    MEMBERSHIP OF ACCA: 

    To avail yourself of FCCA certification, you need to be a fully qualified member of ACCA. Therefore, after completing the exams of ACCA and fulfilling the required work experience in the qualification, students are advised to apply for ACCA membership and become full members of ACCA. After becoming a full member of ACCA, you will automatically become eligible for the FCCA certification.  

    CONTINUOUS PROFESSIONAL DEVELOPMENT:  

    Another main thing influencing the eligibility and maintained status of FCCA certification is continuous professional development (CPD). Candidates who aim to avail themselves of FCCA certification should also be updated about the latest trends, global standards, accounting practices, and regulations. Students can monitor these changes through continuous professional development (CPD). 

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    HOW TO ACHIEVE FCCA CERTIFICATION: AN OVERVIEW:

    The following are the steps you need to follow to avail yourself of FCCA certification: • Enroll yourself in the ACCA qualification and meet the academic and financial criteria to join the program. 

    • Clear all 13 exams of ACCA and complete Applied Knowledge, Applied Skills, and Strategic Professional Level. Each student can study at their own pace; however, it usually takes 3-4 years to complete the qualification. The duration may vary from student to student.  
    • Get relevant work experience of 3 years in the accounting or finance sector. Keep track of your professional achievements and get your experience recorded and approved by an ACCA-qualified member. 
    • After completing your ACCA exams and practical experience successfully, directly apply for ACCA membership. Wait for the approval; once you become an ACCA member, you can use the ACCA designation. 
    • Now finally you can apply for FCCA certification. However, usually, the FCCA is granted after five years of work experience post your qualification. However, this can vary depending on the career progression, achievements, and expertise in the practical field. 

    KEY BENEFITS OF FCCA CERTIFICATION: 

    • ACCA qualification is a globally recognized qualification, whereas the FCCA certification further enhances the professional reputation. 
    • This certification enables you to get higher roles in the accounting and finance sector. It opens the gate to career advancement and progression.
    • This certification brings many global networking opportunities with finance professionals. 
    • Not to forget, it also enhances your professional profile by adding credibility and authority through FCCA certification.

    CONCLUSION: 

    For professionals who are looking forward to building their careers in accounting and finance, availing themselves of FCCA can play a significant role in their careers. To become eligible for FCCA, an individual first needs to complete the full ACCA qualification, from achieving success in all 13 papers to completing the required work experience in the related field for 3 years.

    After completing the full ACCA qualification and its requirements, now the individual is supposed to apply for ACCA membership; once the membership is approved, the individual becomes an ACCA member. Then he can apply for FCCA certification, which is usually granted after five years of work experience in the field. Students are also advised to maintain their CPD to avail and maintain their FCCA designation. If you are thinking of a thriving career in accounting and finance, FCCA certification would be a great milestone you should achieve. 

    FREQUENTLY ASKED QUESTIONS:

    Q1: What is the FCCA Certification? 

    The FCCA (Fellow of the Association of Chartered Certified Accountants) certification is a highly regarded and rewarded certification granted by the official body of ACCA. This certification indicates that the student has a good amount of expertise and experience in the field of accounting and finance.  

    Q2: How is FCCA different from ACCA? 

    ACCA is the qualification of accounting and finance, whereas FCCA is a certification or designation granted to fully qualified ACCA members with five years of work experience.  

    Q3: What are the requirements to obtain FCCA status? 

    To obtain FCCA status, firstly complete the ACCA qualification, both exams and practical experience. Then become a member of ACCA, complete 5 years of work experience in the relevant field, and apply for your FCCA certification. 

    Q4: Can FCCA be achieved without completing ACCA exams?

    No, to gain FCCA  you will first need to complete your ACCA qualification and become a member of ACCA. FCCA is just an advancement for your career after becoming a qualified ACCA member.