Results from the ACCA (Association of Chartered Certified Accountants) examinations in December reveal that a record 205,000 sat papers, with more than 6,000 taking a major step towards membership of the global body for professional accountants.

Candidates around the world took more than 397,000 papers, with 6,420 students successfully completing their final ACCA exams and a further 2,926 students completing the Certified Accounting Technician (CAT) exams.

Clare Minchington, ACCA executive director - learning and products, said:
“We are delighted to see students successfully completing their examinations and demonstrating those skills demanded by employers in these challenging times.

“ ACCA is committed to developing professional accountants who can create value within business – and this is a good time to be qualifying as an ACCA member. Recent research by ACCA shows that CEOs expect demand for finance specialists to rise, with more than 70% seeing a need for more specialised finance roles in the future.  The skills at the top of the CEO’s wish lists - financial analysis for business decision making; risk management/internal control and budgeting and financial forecasting – are all fundamental elements of the ACCA Qualification,” said Clare Minchington.

“ Regarding exam performance, we were pleased to see that performance in the Fundamentals Paper F7, Financial Reporting has improved as a result of the package of support put in place for this paper.”

“We congratulate the students who have now completed their ACCA exams and we look forward to welcoming them to ACCA membership on completion of their practical experience requirements and professional ethics module. We would also like to congratulate those who completed the CAT exams,” she added.

-More-
 
December 2010 session ACCA Qualification pass rates:

Paper F1, Accountant in Business, 70%*
Paper F2, Management Accounting, 60%*
Paper F3, Financial Accounting, 60%*
Paper F4, Corporate and Business Law, 44%
Paper F5, Performance Management, 41%
Paper F6, Taxation, 44%
Paper F7, Financial Reporting, 47%
Paper F8, Audit and Assurance, 38%
Paper F9, Financial Management, 40%
Paper P1, Professional Accountant, 51%
Paper P2, Corporate Reporting, 51%
Paper P3, Business Analysis, 48%
Paper P4, Advanced Financial Management, 33%
Paper P5, Advanced Performance Management, 35%
Paper P6, Advanced Taxation, 44%
Paper P7, Advanced Audit and Assurance, 34%

December 2010 session CAT pass rates:

Paper 1, Recording Financial Transactions, 65%*
Paper 2, Information and Management Control, 61%*
Paper 3, Maintaining Financial Records, 61%*
Paper 4, Accounting for Costs, 60%*
Paper 5, Managing People and Systems, 51%
Paper 6, Drafting Financial Statements, 63%
Paper 7, Planning, Control and Performance Management, 39%
Paper 8, Implementing Audit Procedures, 37%
Paper 9, Preparing Taxation Computations, 58%
Paper 10, Managing Finances, 41%
 
* Combined pass rates for paper-based and computer-based exams.

      Ends –

Notes to Editors

   1. ACCA is the global body for professional accountants. We aim to offer business-relevant, first-choice qualifications to people of application, ability and ambition around the world who seek a rewarding career in accountancy, finance and management.
   2. Founded in 1904, ACCA has consistently held unique core values: opportunity, diversity, innovation, integrity and accountability. We believe that accountants bring value to economies in all stages of development and seek to develop capacity in the profession and encourage the adoption of global standards. Our values are aligned to the needs of employers in all sectors and we ensure that through our qualifications, we prepare accountants for business. We seek to open up the profession to people of all backgrounds and remove artificial barriers, innovating our qualifications and delivery to meet the diverse needs of trainee professionals and their employers.