acca student guide 2013
TRANSCRIPT
www.pwc.com/lt/lt/academy
ACCAStudent Guide2013
PricewaterhouseCoopers UAB, J. Jasinskio str. 16B, LT-o3163 Vilnius, LithuaniaT: +370 (5) 239 2300, F:+370 (5) 239 2301, Email: [email protected], www.pwc.com/lt
Welcome to the ACCA Programme!
Dear ACCA Students,
The PwC’s Academy is pleased to offer a full ACCA qualification for Lithuania. Whether you arenew to ACCA or a returning student, we are excited to present our courses, tutors, and studyoptions for 2013.
Our ACCA vision is simple – to provide a premium teaching and support service that establishesthe highest possible levels of quality and leverages our knowledge and experience as a leadingprofessional services firm.
The ACCA Student Guidebook covers your participation in the ACCA programme at the Academy.All of our support services are listed within these pages, and are designed to help you achieve yourgoals in relation to ACCA. If there is anything that may concern you, you are welcome to meetwith any of our dedicated ACCA support team.
PwC Academy
Good luck in 2013and study hard!
Page
Welcome to the ACCA Programme
The Academy Study scheme 4
Computer Based Exam (CBE) Centre 4
ACCA Examinations 5
The ACCA Work Experience Requirements 6
Approved Employers 7
The ACCA Ethics Module 7
Examination Resources 8
ACCA Programme Contact Details 9
Important Dates for the ACCA Qualification 10
Formal Complaints Procedure 11
Student Feedback 12
The Academy Student Regulations and Code of Conduct 13
First Aid and Emergency Procedures 14
Term and Conditions 15
Appendix: Student Suggestion Form 16
4
The Academy Study Scheme
Our study programme for the ACCA qualification at the Academy isbased on years of experience in ACCA training atPricewaterhouseCoopers in Central and Eastern Europe. It is designedto give our students the best possible chances of passing all of theirexaminations on the first attempt.
Our training for the Fundamental papers F1-F3 is based on a ‘futuresuccess’ model – all future papers are based on a basic understandingof the syllabus of these foundation setting examinations. We thereforeencourage all students to take tuition courses to ‘link’ theirunderstanding of key syllabus components to future examinations,even if they are exempted from these papers. These papers can be satat anytime at PwC with the use of our CBE facility.
All of our tuition courses includes mock examinations to test yourknowledge and show you just how much you need to study before thereal exam and what to focus on. It is also an opportunity to practiceunder examination conditions. Our tutors provide constructivefeedback summaries and individual analysis within eight days of mockcompletion.
The following study and exam scheme is provided for illustration:
Computer Based Exam (CBE)Centre
The Academy is an ACCA Approved Computer Based Examination Centre(CBE). Students have the ability to sit computer based exams for papers F1-F3. The main advantage of the CBE system is flexibility – you can sit theseexaminations at any time of the year. In addition, you may resit the exams asoften as necessary. Students also receive their exam results on screenimmediately after completion and they are uploaded to your ACCA accountwithin 72 hours.
The examination fee for papers F1-F3 is 53 GBP; facility and administrationfee charged by PwC is 150 LTL; plus VAT. PwC will provide the use of thefacility and administration of the examinations Free of Charge for anystudents who have attended the courses with The Academy.
For more information on The Academy CBE centre in Vilnius please referour website http://www.pwc.com/lt/en/academy/cbe-centre.jhtml
ACCA Study Year December June
Year 1 Papers F1, F2, F3 Papers F4, F5
Year 2 Papers F7, F8 Paper F6
Year 3 Paper F9 Papers P1, P2, Ethics
Module
Year 4 Paper P3 Papers P5, P7
5
ACCA Examinations
Knowledge Module
Paper F1 Accountant in Business (AB)Paper F2 Management Accounting (MA)Paper F3 Financial Accounting (FA)
Skills Module
Paper F4 Corporate and Business Law (CL – UK, INT)Paper F5 Performance Management (PM)Paper F6 Taxation (TX - UK)Paper F7 Financial Reporting (FR)Paper F8 Audit and Assurance (AA)Paper F9 Financial Management (FM)
Essentials
Paper P1 Governance, Risk and EthicsPaper P2 Corporate Reporting (CR)Paper P3 Business Analysis (BA)
Options
Paper P4 Advanced Financial Management (AFM)Paper P5 Advanced Performance Management (APM)Paper P7 Advanced Audit and Assurance (AAA)
6
The ACCA Work Experience Requirements
Gaining the relevant practice experience isa key component to the ACCAqualification. In the demanding accountingand business professions it is essential tolink your theoretical knowledge from theexaminations to practical applications inthe workplace.
The ACCA Practical ExperienceRequirements (PER) are closely linked tothe exam syllabus to further develop yourskills in the workplace. The framework ofthe PER enables you to achieve a high levelof knowledge, ability, and ethics in theworkplace, demonstrating to employersthat you are the right person for the job.
ACCA students are required to achieve a set ofobjectives over a three year period working inan accounting or finance-related role andrecord the completion of the PER through theTrainee Development matrix (TDM). There isno time limit to complete the PER though it isnecessary to complete it before applying forACCA membership.
You will need to seek your employer’sassistance to gain your PER, so it is up to youto choose the right employer to meet yourrequirements.
To meet the ACCA qualification PER youwill need to complete all nine Essentialperformance objectives and four Options.
ESSENTIALS
Professionalism, ethics andgovernance
1. Demonstrate the application of professional ethics,values and judgement2. Contribute to the effective governance of anorganisation3. Raise awareness of non-financial risk
Personal effectiveness 4. Manage self5. Communicate effectively6. Use information and communications technology
Business management 7. Manage on-going activities in your area ofresponsibility8. Improve departmental performance9. Manage an assignment
OPTIONS
Financial accountingand reporting
10. Prepare financial statements for external purposes11. Interpret financial transactions and financialstatements
Performance measurementand management accounting
12. Prepare financial information for management13. Contribute to budget planning and production14. Monitor and control budgets
Finance and financialmanagement
15. Evaluate potential business/investment opportunitiesand the required finance options16. Manage cash using active cash management andtreasury systems
Audit and assurance 17. Prepare for and collect evidence for audit18. Evaluate and report on audit
Taxation 19. Evaluate and compute taxes payable20. Assist with tax planning
For more information on the PER see your The Academy representative or visit the ACCA website athttp://www.accaglobal.com/en/student/acca-qual-student-journey/experience-employment/experience/practical-experience.html
7
Approved Employers
If you work for an ACCA Approved Employer at the Gold or Platinum level, students and members arenot required to submit a Training Development Matrix at the end of every calendar year to confirm thatthey have met their ACCA Work Experience Requirements objectives. Instead, students and Membermust submit an Annual ACCA Return, stating that they are employed by in a company holding thisaccreditation. The annual return should be submitted by December 31st.PricewaterhouseCoopers is has the Approved employer’s status.
For more information on Approved employers and your work experience requirements, please visit theACCA website:http://www.accaglobal.com/en/student/acca-qual-student-journey/experience-employment/experience/practical-experience/recording-experience.html#Approved-Employersor contact the administrative team at the Academy.
The ACCA Ethics Module
Ethics is an integral component of the ACCA qualification, directly appearing in 11 of the 14 examinationpapers and in all of the essential work experience performance objectives. The Ethics Module is anonline training course with the aim of exposing student to a range of ethical perspectives in business.Students have access to the module in the examination session they are eligible to sit paper P1Professional Accountant.
The ethics module is a key component to P1 training at The Academy. All students are required to sit themodule in conjunction with the tuition courses, and completion is mandatory before applying for ACCAmembership. In addition, statistics show that completion of this module before the P1 tuition coursegreatly increases a student understanding of the syllabus and results in higher examination pass ratesfor all Professional Level examination papers. More information on the Ethics module can be found at:
http://www.accaglobal.com/en/employer/supporting-trainees/ethics.html
http://www.accaglobal.com/en/student/acca-qual-student-journey/ethics/professional-ethics.html
8
Examination Resources
The Academy Course NotesThe Academy develops our own course notes for each paper.The course notes contain relevant technical articles, study guideswith suggestions for home study, examination techniques and fullinformation on syllabus. Students can contact their tutors by emailfor any study advice.
Kaplan ‘Engage’The Kaplan ‘engage’ study system provides electronic resourcesfor each paper. To register, follow the instructions on the blue Kaplaninformation sheet located at the back of your study systems or visitwww.en-gage.co.uk
ACCA Student Accountant MagazineEvery month ACCA publishes the SA magazine containing technicalarticles, study advice, and a range of accounting and business stories.Pick up a copy at The Academy information stands or visitwww.accaglobal.com/students/student_accountant
Additional material requestNeed a specific book for your paper? Contact The Academywith your suggestions on material to add to our library!
With years ofexperience in auditand taxation, we usethe knowledge andskills of our ownauditors and taxspecialists to teachvariant papers.
9
ACCA Programme Contact Details
ACCA Connect2 Central Quay, 89 Hyde Park St.,Glasgow Scotland G3 9DH, United KingdomTel: +44 (0) 141 582 2000Fax: +44 (0) 141 582 2222Website: www.accaglobal.comEmail: [email protected]
ACCA Ukraine, Baltic & Caucasus States9/2 Chervonoarmiyska St, Entrance #7, Office 77Kyiv 01004, Ukraine
Tel: +38 (044) 498 3450Fax:+ 38 (044) 498 3451Email: [email protected]: www.accaglobal.com
For information regarding ACCA Ethics andPolicy:Steve WillisPricewaterhouseCoopersACCA Leader Central & Eastern Europetel.: +420 251 152 115e-mail: [email protected]
ACCA Academy Contacts in Lithuania
Eleonora Čaikovskaja The Academy Leader
Tel: (+370 5) 239 23 00Email: [email protected]
Indrė Marozaitė The Academy Administration
Tel: (+370 5) 239 23 00Email: [email protected]
The Academy Tutors
Mike LittleMike has been teaching for more years than he cares to admit. He was a director of Financial TrainingManchester for many years before leaving to become a freelance lecturer. He has been teaching in Latviaand Lithuania for over 10 years, and now lives permanently in Vilnius.Email: [email protected]
Ken GarrettKen qualified as an accountant in the UK and then joined Financial Training Ltd. He formed his own ITConsulting and training business in 1994. He has taught throughout Eastern Europe and lectured inRiga and Vilnius on many occasions.Email: [email protected]
John MoffatJohn qualified as an accountant in the UK where he has been providing courses for accountancy examssince 1974. From 1984 he was managing director of Financial Training Ltd - one of largest providers ofaccountancy training in the UK. Since 1994 he has been lecturing for the ACCA examinations mainlythroughout Eastern Europe. He has been teaching in Latvia for over 15 years, and now livespermanently in Riga.Email: [email protected]
10
Important Dates for the ACCA Qualification
January February March April May June
Payment of
Annual
Subscription
Fees
Results from
December
examination
sessions can be
accessed on
myACCA from
February 8th.
We recommend
to request
provision of
results by email,
this can be done
in myACCA.
March 8th is the
deadline of
early exam
entry for June
session. March
15th is the
deadline for
submission for a
request for a
Special
Examination
Centre for the
June session.
April 8th is the
deadline of
standard exam
entry for June
session.
May 8th is the
deadline for late
exam entry for
June session.
Students receive
their
examination
Attendance
Docket with
details of the
subjects of
papers and the
address of the
examination
centre.
ACCA
examinations in
the first two
weeks of June
July August September October November December
Enjoy
summertime!
Results from
June
examination
sessions can be
accessed on
myACCA from
August 8th. We
recommend to
request
provision of
results by email,
this can be done
in myACCA.
September 8th is
the deadline of
early exam
entry for
December
session.
September 15th
is the deadline
for submission
for a request for
a Special
Examination
Centre for the
December
session.
October 8th is
the deadline of
standard exam
entry for
December
session.
November 8th is
the deadline for
late exam entry
for December
session.
Students receive
their
examination
Attendance
Docket with
details of the
subjects of
papers and the
address of the
examination
centre.
ACCA
examinations in
the first two
weeks of
December.
11
Formal Complaints Procedure
The Academy is committed to building strongrelationships with our clients, which includesfollowing the PwC Code of Conduct, regulatingall of our business and training activities. Acopy of our Code of Conduct can be viewed onthe Academy website. If you have any concernsabout The Academy operations, administration,or quality of service please write a letter to TheAcademy Leader Eleonora Čaikovskaja or an anonymous statement on our Suggestion Formslocated at the Academy or at the back of theStudent Handbook.
Formal complaints and suggestions shoulddescribe any concerns and state the action oroutcome desired. Trainees will receive anacknowledgement of receipt within 3 workingdays, and a resolution to the nature of thefeedback, where necessary, within 21 workingdays.
All formal complaints and suggestions are dealtwith according to the following flow chart:
12
Student Feedback
In order to assist the Academy in providing continued excellent serviceand education, clients are encouraged to provide feedback on theirtraining, either informally with any member of the Academy, throughour Trainee Feedback System, or by filling in a suggestion form locatedin the reception area of the Academy.
At the end of each course, trainees have the opportunity to expresstheir opinions in a satisfaction questionnaire, providing feedback onlectures, administration staff, course materials, and facilities.
The completed evaluation questionnaires will be submitted to anindependent staff member and the identity of all trainees and theircomments we be treated confidentially.
Opinions and information obtained from the forms will be used in thedevelopment of course procedures and course committee meetings.
Teaching staff meet quarterly with The Academy leader at coursecommittee meetings to discuss:
Course evaluations Trainee performance Evaluation of lecturers Trainee complaints Examination rates (if applicable) Course Syllabus
13
The Academy Student Regulationsand Code of Conduct
1. Clients attending seminars at the The Academy must ensure
that they bring the personal identification and will be required to signin at the reception desk. Failure to provide identification may result inclients or students being refused entry into the Academy.
2. The Company will not be held responsible for loss of any
personal items left in any training room or on The Academy premises.
3. All Customers undertaking any training with the Company are
required to adhere to any notices or instructions given to them by anymember of the company's staff.
4. Smoking is not permitted on Course premises except in
designated areas. Customers who are considered to be under theinfluence of alcohol or drugs will have their course terminatedimmediately and all course fees forfeited.
5. Course participants are expected to exhibit professional
behaviour while attending lectures and seminars. Any action thatgenerally interferes with the quality of tuition a class is receiving,which includes the use of mobile telephones or other electronicdevices, or any form of abusive verbal or written communication mayresult in the breech of this service agreement and the removal ofclients from the courses.
6. Full course attendance is required of all students at The
Academy. Repeated failure to attend tuition courses may result in thetermination of the services Agreement. Students who are not able toattend a course should contact their Academy representative inadvance of courses. All effort will be made for a student to joinalternative course dates if available.
All you needis the motivationto makea significantinvestmentin timeto achievesuccess.
14
First Aid and Emergency Procedures
First AidIn situations where an employee is suddenly taken ill in The Academy and needsimmediate medical assistance, the following steps should be taken:
Fire & Evacuation Procedures
1.Any person who discovers a fire shall be liable to report it without any delay at the designated
fire alarm reporting station, or ensure it is reported by pressing the fire alarm button.
2.The following information shall be reported – the name of the person, telephone number,
area in which the fire was discovered and the extent of the fire.
3.If fire extinguishing means are available and no people are in imminent danger,
an attempt should be made to get the fire under control. Persons who are not necessary toextinguish the fire shall immediately leave by fire staircases to the Emergency Evacuation
Assembly area. Details of the assembly areas are posted on all floors of PricewaterhouseCoopersor you should follow your designated Academy representative out of the building.
4.Take your personal belongings with you only if this does not inflict any difficulty or delay to you
or other exiting the building.
5.Do not leave the assembly area or enter the building unless permitted by reception
and PwC security.
3. Stay with the
person who is ill andprovide first aid,
according to the best ofyour knowledge.
2. Advise The
Academy staffimmediately. If no staff
is readily available,advise PwC reception
at the main entrance tothe Academy.
1. Call the ambulanceon 103, 112 or call
PwC reception on 8 5239 23 00
4. Ensure thateveryone leaves the
immediate area, so thatthe person who is ill is
in a quiet place andprivacy is maintained.
15
Terms and Conditions
All clients are informed of our terms and conditions which are readily available from our website andThe Academy facility. All Customers are deemed to have read them before requesting our services orproducts. These terms and conditions together with the registration form comprise the ‘Agreement’pursuant to which The Academy provides training programmes to the client/student
1. Payment TermsAfter initial registration for a course, you will receive confirmation of receipt and an invoice forservices. Full payment is required before final registration on a course will be confirmed.
All course fees must be paid prior to the commencement of any training, unless other arrangementshave previously been agreed with The Academy.
The Academy reserves the right to take any outstanding balances due from the Customer'sdebit/credit card on or after the course start date.
2. Cancellations, Deferrals, and Course ChangesAny course cancellation made by the client must be made in writing or email to The Academy.Registration ends 10 working days before each course. Registration to PwC’s Academy courses isbinding.
Refunds (less an administrative fee of 25% of the total course fee) will be made for cancellationsreceived in writing more than 10 working days prior to the event. No refund is available forcancellations made within the 10 working days prior to the event. Delegates may be substituted inorder to avoid cancellation at any time prior to the event. There will be no charge if a substituteperson wishes to replace the original delegate. Please inform the course administrator of any changeto the original booking.
The Academy shall make every effort to avoid the cancellation or rescheduling of an event. However,we reserve the right to cancel an event at any time and, should the need arise, The Academy shallendeavour to provide attendees notice in good time and refund or reallocate any payments made inrespect of the event. The Academy cannot accept liability for expenses or any other losses relating tocosts or time to the client or their employer.
3. Intellectual PropertyThe Academy grants the client a non-transferable, non-exclusive license to use PwC and Kaplanmaterial under the terms of this agreement. This license expires upon the termination of theagreement for services for any reason.
The use of The Academy and Kaplan material is for educational purposes only, and clients will notreproduce, retransmit, sell, disseminate, publish, or broadcast this material other than in accordancewith this agreement.
4. Limitation of LiabilityThe Academy liability (other than in respect of liability for death or personal injury) for direct lossesarising out of their negligence or breach of contract in connection with this agreement is limited to thecost to the client for the courses for which they are registered, and any other costs related to studymaterial. The Academy is not liable for any indirect loss arising from negligence or breach of contract.
5. Data ProtectionThe personal data will be maintained and processed only by PricewaterhouseCoopers UAB for thepurpose of registration and disseminating business-related communications in the form of marketingmaterials and invitations to professional seminars and conferences as part of electroniccommunication. Consent is voluntary and you may withdraw your consent at any time.
16
Appendix: Student Suggestion Form
If you would like the receipt of your complaint, please provide your contact details below.Otherwise, statement may be made anonymously.
________________________________________Name
________________________________________Telephone
________________________________________Date
Please describe the nature of your complaint or suggestion to The Academy below. Include asmuch detail as possible, including the training room, tutor, staff member, or any issueinvolved.
You can submit your complaints, suggestions and/or comments:
1) By leaving completed suggestion form at PwC’s reception2) Sending email: [email protected]) Sending direct email to ACCA PwC’s Academy contacts in Lithuania:[email protected]) By telephone: +370 5 25469206) By contacting ACCA Global: [email protected]
17
PwC‘s Academy
PwC Academy in Lithuania has gained the Association of Chartered Certified Accountants’ (ACCA’s)prestigious Gold level as an Approved Learning Partner - student tuition.
Approval is given to tuition providers who demonstrate that they meet the challenging performancetargets set by ACCA.
© 2013 PricewaterhouseCoopers UAB. All rights reserved.
PwC refers to PwC Lithuania member firm, and may sometimes refer to the PwC network. Each member firm is a separate legal
entity. Please see www.pwc.com/structure for further details.
PwC Lithuania helps organizations and individuals create the value they’re looking for. We’re a member of the PwC network of
firms in 158 countries with more than 180,000 people. We’re committed to delivering quality in assurance, tax and advisory
services. Tell us what matters to you and find out more by visiting us at www.pwc.com/lt
The ACCA is mostsuitable for thosethat aspire to becomeprofessionalsin any sectorof business.