The ACCA Certification Process, by Tara Moran, ACCA
Why did you choose to pursue your ACCA certification? After completing my Bachelor of Arts degree in Accounting and Finance at the University of Ireland, Maynooth, I decided to see a little bit of the world and moved to Toronto, Canada. While working in Canada, I decided to pursue my Association of Chartered Certified Accountants (ACCA) qualification to improve my skill set and open doors to other opportunities within the workplace.
Why did you choose that certification? The ACCA qualification is recognized all over the world and is popular among students in the finance field. In June 2019, ACCA recorded that it had 219,000 members and 527,000 students. With a presence in 179 countries, it is one of the most reputed qualifications in the world.
I chose ACCA designation due to its worldwide recognition which gave me options in case I decided to continue my travels or move back home.
What was the process like? There are three elements of the ACCA Qualification on the journey to ACCA membership, these are:
ACCA exams which cover topics such as Accountant in Business, Management Accounting, Financial Accounting, Corporate and Business Law, Performance Management, Taxation, Financial Reporting, Audit and Assurance, Financial Management & Strategic Business Reporting. The exam provides students with an understanding and helps develop strong, broad and practical finance skills required for future strategic professional accountants in any sector or industry. an Ethics and Professional Skills module, and a Practical Experience Requirement which involves achieving 36 months of supervised experience in a relevant accounting or finance role(s) and completing nine performance objectives which are signed off by a practical experience supervisor.
When did you achieve the certification? The ACCA student program took just over three years. I registered as a student with ACCA for the program in 2012. I graduated from the ACCA program on August 1, 2014 and officially became a member on April 17, 2015.
How can you see applying what you’ve learned to your client work? I apply my ACCA qualification to my daily client work at Managing Matters Inc. I ensure that monthly, quarterly or yearly financials are in line with international reporting standards. I use my audit and assurance training to ensure all clients’ transactions are accurate and correctly represented in their financial records.
Also, part of the ACCA qualification requires members to complete 40 hours of continuous professional development each year. This helps ensure that I am up to date on the current topics in the accounting and finance world.
How does the ACCA intersect with the association management industry? AMCs deliver high levels of expertise and accountability so that associations can continue to increase their value and relevance to members.
With my ACCA qualification, I can help Managing Matters deliver the best service to our clients. The ACCA qualification requires members to be of the highest ethical and professional nature, and that aligns with Managing Matters’ accreditation through AMCI. We are the only association management company in Ontario with that designation.
Any tips for those who are about to start an accounting designation process? Just start!! Don’t delay the process as it’s worth it! Remember that an accounting designation is your passport to work in any industry anywhere in the world.
Tara is an Accounting Manager at Managing Matters. Originally from Ireland, she holds a degree in Accounting and Finance from National University of Ireland. Since moving to Canada, Tara has successfully completed her accounting designation and is a member of the Association of Chartered Certified Accountants. With her past experience in compliance, Tara brings her analytical and attention to detail skills to the accounting team.
In her spare time, Tara loves to watch movies, travel and read.