What is ACA?

[SarahNasir]

Hey people, actually I am new to the whole accounting profession. Currently doing A' levels and quite interested in it. After reading most of the topics I got to know about CAT, ACCA, CA, CFA, CMA etc but still I didnt get what is ACA. I mean i dont have the least bit of idea about it! So it would be appreciated if anyone of you out there would help me out [D]

Sarah

[maani]

ACA=CA
Associate Chartered Accountant

Ace

[iahmad]

No Wrong! ACA Stands for "Associate Memeber of the Institute of Chartered Accountants" Please refer to ICAP By Laws Definitions

[SarahNasir]

So u mean that a CA is actually an ACA..... i mean obviously if u become a chartered accountant then u also become an associate member of the institute of chartered accountants right! Do correct me if i'm mistaken [D]

Sarah

[Muhammad Adnan Arshad]

ASSOCIATE CHARTERED ACCOUNTANT (ACA)

1 - ACA-Qualified From ICAP-
Those who have completed the prescribed training and have passed all the prescribed examinations of ICAP will be eligible for Associate Membership of the Institute (ACA). Please ensure the following is taken care of
The application should be in prescribed Form "A"
*Please read carefully the Guidelines Regarding Completing Prescribed Application Form "A" for ICAP Membership before completing the application form
*Please insert full names (S. No. 1 & 2 of the Form A) as entered in ICAP records as a trainee student/examinee
*If training received in more than two firms (S. No. 9 of the Form A), particulars may be mentioned in the blank space of last page
*Documents to be attached in original with a photocopy of each (or) photocopy attested by a member of ICAP mentioning full name and his *ICAP Membership Number
*For proof of age please enclose Matriculation/SSC Certificate (NIC or relevant page of passport for applicants who passed O & A levels examinations)
*In S. No. 7 give details of your qualifications and enclose original certificates issued by Board / University / Institute
*In S. No. 8 give details of result communication letters / examination certificates/ exemption certificate (if applicable)
*Give Particulars of Training in (S.No. 9)
*Enclose period completion certificate issued by the Principal. *Students of recognised accounting bodies may furnish Summary Record of Experience and necessary certificate/documents covering information on completion of prescribed training.


2 - ACA-Qualified From Overseas Recognized Accounting Bodies-
Those applicants who have completed training and passed examinations from the Institute of Chartered Accountants in Australia (ICAA), Canada (ICAC), England & Wales (ICAEW), Ireland (ICAI), Scotland (ICAS) may apply for membership. These members will have to pass the "Taxation" and "Corporate Law" papers of Professional Examination (Module-E & F) if they intend to engage in public practice. Please ensure the following
*The application should be in prescribed Original Form 'A'. (not on photocopy)
*Bank Draft/Pay Order for Rs. 23,000/-
*Following documents in original with a photocopy thereof
(original not required if photocopies attested by a member of ICAP bearing his name and membership number)
*Exemption Certificate from ICAP Directorate of Examinations from papers other than "Taxation" and "Corporate Laws & Secretarial Practices"
*SSC/Matriculation Certificate OR NIC OR relevant page of passort (for age proof)
*Graduation degree or other academic/professional qualifications
*Training Contract
*Training Service Completion Certificate
*Certificate of passing all the examinations
*Institute's Membership Certificate (if obtained)
*Certificate of Software course in the Prescribed Form from any of the ICAP approved Computer Training centres

>>>> Schedule of Fees (In Rupees at the time of Membership)
*Admission Fee 600
*Annual Fee 3,900
*Life Membership fee of Benevolent Fund Association (optional) 2,650
*Members Hand Book 950
*Bank Charges (not applicable in case of Inland Draft/pay order)
*For out-station cheque (inland) 85
*For overseas payment (in case of International Bank Draft) 300

NOTE - For ICAP;
ACA (in Private Practice) + 10 years experience ==>> FCA
ACA (in Public Practice) + 05 years experience ==>> FCA

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[smurfyazhar]

it is not necessary that if one is a CA he is also an ACA. it is upto that person whether he wants to be a member of ICAP or not. although 99% of the qualified CAs are ACAs as membership has its benefits.

Cheers

[noman]

when a person has passed all exams and requriements he is eligible to get membership in icap......in other words...if you have done CA you can pay membership fee to icap and become member and called ACA...

[Ali Akbar]

<blockquote id="quote"><font size="1" face="Verdana, Tahoma, Arial" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by smurfyazhar</i>
<br />it is not necessary that if one is a CA he is also an ACA. it is upto that person whether he wants to be a member of ICAP or not. although 99% of the qualified CAs are ACAs as membership has its benefits.

Cheers
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">

When you have passed all the exams of ICAP, then it is ur compeltion to get membership of ICAP becoz most of the employers require u to be, as a CA, a member of a professional body. You cant start public practice, as a CA, unless u r a member of ICAP. U cant write the word ACA or FCA after ur name unless u get membership of ICAP under the bye laws of ICAP.

ICAPians, the unparalleled...

[Pracs]

Under the CA Oridnaince of 1961 and CA bye laws,.. the only legal qualification is ACA to start with. There is no such thing as a chartered accountant who is not a member of ICAP. A chartered accountant may be a person who is an ACA or a FCA.

There is one possibility where a person has passed all the exams of ICAP and has completed the requisite training period and not applied for membership. Any one in such a situation has no legal qualification or designation unless he/she applies for membership of the institute.


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