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Essay / Research Paper Abstract
This 4 page paper outlines the role and position of four accounting bodies in the UK; The Institute of Chartered Accountants in England and Wales (ICAEW); The Association of Chartered Certified Accountants (ACCA); The Chartered Institute of Management Accountants (CIMA) and the Chartered Institute of Public Finance & Accountancy (CIPFA. The bibliography cites 4 sources.
Page Count:
4 pages (~225 words per page)
File: TS14_TEACCACIMA.rtf
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Unformatted sample text from the term paper:
there are 6 main bodies, Institute of Chartered Accountants in England and Wales (ICAEW); Association of Chartered Certified Accountants (ACCA); Chartered Institute of Management Accountants (CIMA); Chartered Institute of Public
Finance & Accountancy (CIPFA) and then in Ireland the Institute of Chartered Accountants in Ireland (ICAI) and in Scotland the Institute of Chartered Accountants of Scotland (ICAS). Each of these
professional bodies has commonalities as well as differences. Institute of Chartered Accountants in England and Wales (ICAEW) The ICAEW is Europes largest professional accounting body and has a total of
124,000 members over 147 countries as well as 9,000 students (ICAEW, 2006). This is also one of the premier accounting organisation in the UK. There is not a specialised approach
as this is an organisation for all types of accountants (ICAEW, 2006). The institute was founded in 1880 under a royal charter which
brought six regional societies together. When an accountant is qualified under the ICAEW they are recognised as a chartered accountant and have the designator letters ACA or FCA (ICAEW, 2006).
There are two stages to the qualification, made up of different examinations, the first stage looks at the more practical issues such as taxation, accounting, auditing, business finance and
financial reporting. The second stage moves onto the more advanced subjects such as governance, insolvency, corporate restructuring, financial and business strategies and change management (ICAEW, 2006). This also needs to
be backed up with relevant professional accounting practice for a minimum of three years. As well as activities including education and training
of accountants the organisation also undertakes ongoing professional development courses, maintains ethical standards and undertakes accounting research as well as being a large organisation that is now very active in
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