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Accounting, also known as accountancy, is the processing of information about economic entities, such as businesses and corporations. Accounting measures the results of an organization's economic activities and conveys this information to a variety of stakeholders, including investors, creditors, management, and regulators. Practitioners of accounting are known as accountants. The terms "accounting" and "financial reporting" are often used interchangeably.
An accountant is a practitioner of accounting or accountancy. Accountants who have demonstrated competency through their professional associations' certification exams are certified to use titles such as Chartered Accountant, Chartered Certified Accountant or Certified Public Accountant, or Registered Public Accountant. Such professionals are granted certain responsibilities by statute, such as the ability to certify an organization's financial statements, and may be held liable for professional misconduct. Non-qualified accountants may be employed by a qualified accountant, or may work independently without statutory privileges and obligations.
The Qualifications and Curriculum Development Agency (QCDA) was a charity, and an executive non-departmental public body (NDPB) of the Department for Education. In England and Northern Ireland, the QCDA maintained and developed the National Curriculum and associated assessments, tests and examinations, advising the minister formerly known as the Secretary of State for Education on these matters.
HM Revenue and Customs is a non-ministerial department of the UK Government responsible for the collection of taxes, the payment of some forms of state support, the administration of other regulatory regimes including the national minimum wage and the issuance of national insurance numbers. HMRC was formed by the merger of the Inland Revenue and HM Customs and Excise, which took effect on 18 April 2005. The department's logo is the St Edward's Crown enclosed within a circle.
The London Institute of Banking & Finance Limited is a professional body for banking and financial services in England and Wales. The organization works internationally with partners to establish ethical and professional standards across the sector around the world. The limited company was formed in 2023, providing training programs for students, and took over the taught degree awarding powers formerly held by the registered educational charity, incorporated by royal charter, now known as the London Foundation for Banking & Finance. It runs the Student Investor Challenge, an initiative in the financial education sector. As of 2023, the Institute has awarded a Young Financial Journalist of the Year award.
The National Council for the Training of Journalists (NCTJ) was founded in 1951 as organisation to oversee the training of journalists for the newspaper industry in the United Kingdom and is now playing a role in the wider media. It is a self-appointed body and does not hold any statutory powers from central government, meaning students and those seeking to enter the media industry do not have to legally hold one of its qualifications to obtain work as a journalist.
Founded in 1904, the Association of Chartered Certified Accountants (ACCA) is the global professional accounting body offering the Chartered Certified Accountant qualification (ACCA). It has 240,952 members and 541,930 future members worldwide. ACCA's headquarters are in London with principal administrative office in Glasgow. ACCA works through a network of over 110 offices and centres in 51 countries - with 346 Approved Learning Partners (ALP) and more than 7,600 Approved Employers worldwide, who provide employee development.
The Association of Accounting Technicians (AAT) is a professional body for Accounting Technicians, with over 150,000 members worldwide.
The Institute of Certified Bookkeepers ("ICB") is a British not-for-profit organization. Its objective is to promote the bookkeeping profession worldwide and offer its students and members trusted bookkeeping qualifications. Founded in the United Kingdom in November 1996, ICB has grown to be the largest bookkeeping body in the world today, with 150,000 members, including students, from over 100 countries.
British qualified accountants are full voting members of United Kingdom professional bodies that evaluate individual experience and test competencies for accountants.
The Institute of Financial Accountants (IFA) is a professional accountancy body representing and providing certification for financial accountants in the United Kingdom. The IFA is a full member of the International Federation of Accountants.
The Association of International Accountants (AIA) is a professional accountancy body. It was founded in the UK in 1928 and since that date has promoted the concept of ‘international accounting’ to create a global network of accountants in over 85 countries worldwide.
The Office of Qualifications and Examinations Regulation (Ofqual) is a non-ministerial government department that regulates qualifications, exams and tests in England. Colloquially and publicly, Ofqual is often referred to as the exam "watchdog".
The Institute of Commercial Management (ICM), founded in 1979, is a Professional Body for Commercial and Business Development Managers, and an Examining and Professional Qualifications Awarding Body, for business and management students.
The Certified Public Accountants Association (CPAA) was formed in 1989 to represent the interests of certain accountants in the United Kingdom.
The Department for Education (DfE) is a department of His Majesty's Government responsible for child protection, child services, education, apprenticeships, and wider skills in England.
The Registered Professional Accountant (RPA) is a Canadian accounting designation granted by the Society of Professional Accountants of Canada (SPAC), a federally chartered non profit organization. The designation requires completion of university or college courses set by SPAC and passing four Mandatory Professional Exams (MPE): Financial Accounting, Management Accounting, Taxation, and Data Analytics and Technology. The Registered Professional Accountant has five pathways to designation, making it an accessible choice for accounting students.
The national qualification frameworks in the United Kingdom are qualifications frameworks that define and link the levels and credit values of different qualifications.
The Institute of Certified Management Accountants of Sri Lanka, is a professional body offering qualification in management accountancy in Sri Lanka.
References
- ↑ IAB, IAB Website, (Retrieved 4 February 2014)
- ↑ University of the West Indies Archived 2013-10-04 at the Wayback Machine , @ open.uwi.edu Cayman Islands Accounting Courses, (Retrieved 4 February 2014)
- ↑ IAB, IAB Website International, (Retrieved 4 February 2014)
- ↑ Institute of Certified Bookkeepers, South Africa, ICB Website @ icb.org.za - About, (Retrieved 4 February 2014)
- ↑ HM Revenue & Customs @ hrmc.gov.uk Accountancy Service Providers and Money Laundering Regulations (Retrieved 4 February 2014)
- ↑ Bookkeeping Hall of Fame [ permanent dead link ], BKN BookkeepingAwards.co.uk, (Retrieved 26 May 2016)