ACCA’s financial accounting has 3 subjects, Financial accounting (FA financial accounting), Financial Reporting (FR financial report), and Strategic Business Reporting (SBR strategic business report).
ACCA can be simply understood as the elementary, intermediate, and advanced courses of financial accounting. According to ACCA, after learning FA, you can go to a company as a junior accountant, after learning FR, you can become a financial manager of a company, and after learning SBR, you have the vision of a corporate CFO (financial director).
In a general context, “accounting” mostly refers to “financial accounting”. In the eyes of people who do not know how to do it, a financial accountant is a bookkeeper who keeps books.
But in today’s business society, the functional scope of financial accounting has long gone beyond bookkeeping. The goal of accounting is to provide accounting information relevant to a business that helps users of financial reports to make economic decisions.
Accounting is “magic”, using magical spells to turn a complex enterprise like a giant into a mirror-like “four tables and one-note (four statements and one-note)”, reflecting the company’s financial status, operating results, and cash flow. Outsiders only need to analyze the “four tables and one note” to have a clear understanding of this behemoth.
If you want to survive in a certain place, you must master the local language if you want to travel unimpeded in the commercial society and the capital market, then financial accounting is a must-have skill, which is why the most famous schools have bachelor’s degrees in economics and management.
International Accounting Standards
International Accounting Standards are UK-led standards and have been accepted and used by more than 120 countries, aiming to provide internationally convergent high-quality accounting solutions. The companies will ask you about the characteristics of IFRS during the interview. Therefore, a fresh graduate with an ACCA background will naturally be given priority when submitting resumes to companies. When competing for high-quality positions in corporate finance, auditing, consulting, and even brokerage research, the knowledge of financial accounting often appears in the written test interview questions.
If you think that finding a job is still a long way off, then many students want to manage money and buy a fund stock or something. Listening to the wind is like buying indiscriminately in the rain, then the next leek will be decided to be you. However, if you learn financial accounting well, you can analyze reports independently, and analyze corporate valuation from fundamentals, your investment will be more rational. In addition, starting from the second year of the sophomore year, students will actively participate in activities such as “business competitions” that are more cost-effective for resumes.