Chartered Certified Accountant (CCA)

Definition

A Chartered Certified Accountant (CCA) is a professional designation granted by the Association of Chartered Certified Accountants (ACCA), a leading global body for professional accountants. CCAs are trained in industry, public sector, and in the offices of practicing accountants. They are recognized for their ability to audit company accounts and provide comprehensive financial advice.

To become a CCA, candidates must complete comprehensive examinations and garner relevant work experience. Members are formally recognized by the UK’s Department for Business, Innovation, and Skills as qualified to audit company accounts. While not chartered accountants, CCAs carry out similar roles and responsibilities, and the credential signifies a high level of expertise and commitment to the accounting profession.

Members of ACCA can be classified as associates (ACCA) or fellows (FCCA), reflecting their level of experience and standing.

Examples

1. Public Sector Auditing:

   • A CCA working for a government agency audits financial statements of public institutions to ensure compliance with regulations and financial integrity.

2. Corporate Role:

   • A CCA in a corporate setting takes on roles such as Chief Financial Officer (CFO), overseeing company finances, ensuring accurate reporting, and strategic financial planning.

3. Accounting Firm:

   • A CCA in an accounting firm provides services like tax preparation, financial consulting, and auditing for clients ranging from small businesses to larger corporations.

Frequently Asked Questions (FAQ)

1. What is the main difference between a Chartered Certified Accountant and a Chartered Accountant?

   • Although CCAs and Chartered Accountants (CAs) perform similar roles, they are certified by different organizations. CCAs are certified by the ACCA, while CAs are certified by organizations such as ICAEW in the UK.

2. What are the prerequisites for becoming a CCA?

   • The prerequisites include passing a series of rigorous examinations provided by the ACCA and accumulating relevant work experience.

3. Can a CCA work internationally?

   • Yes, the ACCA qualification is globally recognized, allowing CCAs to work in various countries around the world.

4. Are CCAs qualified to provide tax advice?

   • Yes, CCAs are qualified to provide tax advice and can assist with tax planning and compliance.

5. What is the continuing professional development (CPD) requirement for CCAs?

   • CCAs must complete a certain number of CPD hours annually to maintain their qualification and stay updated with changes in the profession.

Related Terms

• Association of Chartered Certified Accountants (ACCA): The global professional accounting body offering the Chartered Certified Accountant qualification.
• Certified Public Accountant (CPA): The equivalent professional designation in the USA, requiring its own set of exams and qualifications.
• Chartered Accountant (CA): Professionals certified by organizations like ICAEW in the UK, similar in role to CCAs.
• Fellow Chartered Certified Accountant (FCCA): A higher designation within the ACCA membership, indicating substantial experience and contribution to the profession.

Online Resources

1. ACCA Global
   • Official ACCA website providing resources, membership details, and examination information.
2. UK Department for Business, Innovation and Skills
   • Government information on qualifications and accreditations for accountants in the UK.
3. Investopedia on ACCA
   • Overview and detailed explanation of the ACCA certification.

Suggested Books for Further Studies

1. “ACCA: The Complete Study Guide” by BPP Learning Media
   • Comprehensive study guide for ACCA examination preparation.
2. “Financial Accounting and Reporting” by Barry Elliott and Jamie Elliott
   • A detailed textbook covering financial accounting principles, relevant for ACCA students.
3. “International Financial Reporting, 7th Edition” by Alan Melville
   • Key insights into international financial reporting standards, useful for CCAs working globally.

Accounting Basics: “Chartered Certified Accountant” Fundamentals Quiz

Thank you for learning about the Chartered Certified Accountant (CCA) designation. If you’re keen to delve deeper into this profession or expand your knowledge further, consider exploring the suggested resources at your disposal. Keep honing your financial expertise!