www.pwc.com/lt/lt/academy
ACCA Student Guide 2015
Welcome to the ACCA Programme! Dear ACCA Students, The PwC’s Academy is pleased to offer a full ACCA qualification for Lithuania. Whether you are new to ACCA or a returning student, we are excited to present our courses, tutors, and study options for 2015. Our ACCA vision is simple – to provide a premium teaching and support service that establishes the highest possible levels of quality and leverages our knowledge and experience as a leading professional 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 your goals in relation to ACCA. If there is anything that may concern you, you are welcome to meet with any of our dedicated ACCA support team. PwC Academy
Good luck in 2015 and study hard!
PricewaterhouseCoopers UAB, J. Jasinskio str. 16B, LT-o3163 Vilnius, Lithuania T: +370 (5) 239 2300, F:+370 (5) 239 2301, Email:
[email protected], www.pwc.com/lt
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
The Academy Study Scheme Our study programme for the ACCA qualification at the Academy is based on years of experience in ACCA training at PricewaterhouseCoopers in Central and Eastern Europe. It is designed to give our students the best possible chances of passing all of their examinations on the first attempt. Our training for the Fundamental papers F1-F3 is based on a ‘future success’ model – all future papers are based on a basic understanding of the syllabus of these foundation setting examinations. We therefore encourage all students to take tuition courses to ‘link’ their understanding of key syllabus components to future examinations, even if they are exempted from these papers. These papers can be sat at anytime at PwC with the use of our CBE facility. All of our tuition courses includes mock examinations to test your knowledge and show you just how much you need to study before the real exam and what to focus on. It is also an opportunity to practice under examination conditions. Our tutors provide constructive feedback summaries and individual analysis within eight days of mock completion. The following study and exam scheme is provided for illustration: 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
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 F1F4. The main advantage of the CBE system is flexibility – you can sit these examinations at any time of the year. In addition, you may resit the exams as often as necessary. Students also receive their exam results on screen immediately after completion and they are uploaded to your ACCA account within 72 hours. The examination fee for papers F1-F3 is 53 GBP; F4 - 71 GBP; facility and administration fee charged by PwC is 43.44 EUR; plus VAT. PwC will provide the use of the facility and administration of the examinations Free of Charge for any students who have attended the courses with The Academy. For more information on The Academy CBE centre in Vilnius please refer our website http://www.pwc.com/lt/en/academy/cbe-centre.jhtml
4
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 Ethics Paper 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)
5
The ACCA Work Experience Requirements Gaining the relevant practice experience is a key component to the ACCA qualification. In the demanding accounting and business professions it is essential to link your theoretical knowledge from the examinations to practical applications in the workplace. The ACCA Practical Experience Requirements (PER) are closely linked to the exam syllabus to further develop your skills in the workplace. The framework of the PER enables you to achieve a high level of knowledge, ability, and ethics in the workplace, demonstrating to employers that you are the right person for the job.
ACCA students are required to achieve a set of objectives over a three year period working in an accounting or finance-related role and record the completion of the PER through the Trainee Development matrix (TDM). There is no time limit to complete the PER though it is necessary to complete it before applying for ACCA membership. You will need to seek your employer’s assistance to gain your PER, so it is up to you to choose the right employer to meet your requirements. To meet the ACCA qualification PER you will need to complete all nine Essential performance objectives and four Options.
ESSENTIALS Professionalism, ethics and governance
1. Demonstrate the application of professional ethics, values and judgement 2. Contribute to the effective governance of an organisation 3. Raise awareness of non-financial risk
Personal effectiveness
4. Manage self 5. Communicate effectively 6. Use information and communications technology
Business management
7. Manage on-going activities in your area of responsibility 8. Improve departmental performance 9. Manage an assignment
OPTIONS Financial accounting and reporting
10. Prepare financial statements for external purposes 11. Interpret financial transactions and financial statements
Performance measurement and management accounting
12. Prepare financial information for management 13. Contribute to budget planning and production 14. Monitor and control budgets
Finance and financial management
15. Evaluate potential business/investment opportunities and the required finance options 16. Manage cash using active cash management and treasury systems
Audit and assurance
17. Prepare for and collect evidence for audit 18. Evaluate and report on audit
Taxation
19. Evaluate and compute taxes payable 20. Assist with tax planning
For more information on the PER see your The Academy representative or visit the ACCA website at http://www.accaglobal.com/en/student/acca-qual-student-journey/experienceemployment/experience/practical-experience.html
6
Approved Employers If you work for an ACCA Approved Employer at the Gold or Platinum level, students and members are not required to submit a Training Development Matrix at the end of every calendar year to confirm that they have met their ACCA Work Experience Requirements objectives. Instead, students and Member must submit an Annual ACCA Return, stating that they are employed by in a company holding this accreditation. The annual return should be submitted by December 31 st. PricewaterhouseCoopers is has the Approved employer’s status. For more information on Approved employers and your work experience requirements, please visit the ACCA website: http://www.accaglobal.com/en/student/acca-qual-student-journey/experienceemployment/experience/practical-experience/recording-experience.html#Approved-Employers or 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 examination papers and in all of the essential work experience performance objectives. The Ethics Module is an online 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 P1 Professional Accountant. The ethics module is a key component to P1 training at The Academy. All students are required to sit the module in conjunction with the tuition courses, and completion is mandatory before applying for ACCA membership. In addition, statistics show that completion of this module before the P1 tuition course greatly increases a student understanding of the syllabus and results in higher examination pass rates for 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 7
Examination Resources With years of experience in audit and taxation, we use the knowledge and skills of our own auditors and tax specialists to teach variant papers.
The Academy Course Notes The Academy develops our own course notes for each paper. The course notes contain relevant technical articles, study guides with suggestions for home study, examination techniques and full information on syllabus. Students can contact their tutors by email for any study advice. Kaplan ‘Engage’ The Kaplan ‘engage’ study system provides electronic resources for each paper. To register, follow the instructions on the blue Kaplan information sheet located at the back of your study systems or visit www.en-gage.co.uk ACCA Student Accountant Magazine Every month ACCA publishes the SA magazine containing technical articles, study advice, and a range of accounting and business stories. Pick up a copy at The Academy information stands or visit http://www.accaglobal.com/gb/en/student/acca-qual-studentjourney/sa.html Additional material request Need a specific book for your paper? Contact The Academy with your suggestions on material to add to our library!
8
ACCA Programme Contact Details ACCA Connect 2 Central Quay, 89 Hyde Park St., Glasgow Scotland G3 9DH, United Kingdom Tel: +44 (0) 141 582 2000 Fax: +44 (0) 141 582 2222 Website: www.accaglobal.com Email:
[email protected]
For information regarding ACCA Ethics and Policy: Steve Willis PricewaterhouseCoopers ACCA Leader Central & Eastern Europe tel.: +420 251 152 115 e-mail:
[email protected]
ACCA Ukraine, Baltic & Caucasus States 9/2 Chervonoarmiyska St, Entrance #7, Office 77 Kyiv 01004, Ukraine Tel: +38 (044) 498 3450 Fax:+ 38 (044) 498 3451 Email:
[email protected] Web: www.accaglobal.com ACCA Academy Contacts in Lithuania Eleonora Čaikovskaja The Academy Leader
Ignė Sadauskaitė The Academy Administration
Tel: (+370 5) 239 23 00 Email:
[email protected]
Tel: (+370 5) 239 23 00 Email:
[email protected]
The Academy Tutors Mike Little Mike has been teaching for more years than he cares to admit. He was a director of Financial Training Manchester for many years before leaving to become a freelance lecturer. He has been teaching in Latvia and Lithuania for over 10 years, and now lives permanently in Vilnius. Email:
[email protected] Ben Harvey Prior to starting his own business, Growing Talent, in 2005, Ben spent thirteen years with PwC. He first worked for the firm in London, and in 1997 moved to join the office in Vilnius. Ben began his professional career as a chartered accountant and later moved into training and development. Today he brings his knowledge and experience from both of these roles to his work with the PwC Academy. Email:
[email protected]
9
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.
10
Formal Complaints Procedure The Academy is committed to building strong relationships with our clients, which includes following the PwC Code of Conduct, regulating all of our business and training activities. A copy of our Code of Conduct can be viewed on the Academy website. If you have any concerns about The Academy operations, administration, or quality of service please write a letter to The Academy Leader Eleonora Čaikovskaja or an anonymous statement on our Suggestion Forms located at the Academy or at the back of the Student Handbook.
Formal complaints and suggestions should describe any concerns and state the action or outcome desired. Trainees will receive an acknowledgement of receipt within 3 working days, and a resolution to the nature of the feedback, where necessary, within 21 working days. All formal complaints and suggestions are dealt with according to the following flow chart:
Trainee Complaint or Suggestion
Trainees explore options (informal or formal)
Formal – Letter to Business Academy Leader
Approach PwC Academy Staff and tutors
Resolution
Formal investigation by Academy Leader
No Resolution
Recommended solution by Academy Leader
Trainee Satisfaction with Solution
Yes – Educational and Administrative staff updated complaint database
Close file and amend policies, procedures, and course structures for improvement
11
No – Discuss with the trainee and agree on alternative solution
Student Feedback In order to assist the Academy in providing continued excellent service and education, clients are encouraged to provide feedback on their training, either informally with any member of the Academy, through our Trainee Feedback System, or by filling in a suggestion form located in the reception area of the Academy. At the end of each course, trainees have the opportunity to express their opinions in a satisfaction questionnaire, providing feedback on lectures, administration staff, course materials, and facilities. The completed evaluation questionnaires will be submitted to an independent staff member and the identity of all trainees and their comments we be treated confidentially. Opinions and information obtained from the forms will be used in the development of course procedures and course committee meetings. Teaching staff meet quarterly with The Academy leader at course committee meetings to discuss:
12
Course evaluations Trainee performance Evaluation of lecturers Trainee complaints Examination rates (if applicable) Course Syllabus
The Academy Student Regulations and Code of Conduct
1.
Clients attending seminars at the The Academy must ensure
that they bring the personal identification and will be required to sign in at the reception desk. Failure to provide identification may result in clients 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 any member of the company's staff.
4.
Smoking is not permitted on Course premises except in
designated areas. Customers who are considered to be under the influence of alcohol or drugs will have their course terminated immediately and all course fees forfeited.
5.
Course participants are expected to exhibit professional
behaviour while attending lectures and seminars. Any action that generally interferes with the quality of tuition a class is receiving, which includes the use of mobile telephones or other electronic devices, or any form of abusive verbal or written communication may result in the breech of this service agreement and the removal of clients from the courses.
6.
Full course attendance is required of all students at The
Academy. Repeated failure to attend tuition courses may result in the termination of the services Agreement. Students who are not able to attend a course should contact their Academy representative in advance of courses. All effort will be made for a student to join alternative course dates if available.
13
All you need is the motivation to make a significant investment in time to achieve success.
First Aid and Emergency Procedures First Aid In situations where an employee is suddenly taken ill in The Academy and needs immediate medical assistance, the following steps should be taken:
1. Call the ambulance on 103, 112 or call PwC reception on 8 5 239 23 00
2. Advise The Academy staff immediately. If no staff is readily available, advise PwC reception at the main entrance to the Academy.
3. Stay with the person who is ill and provide first aid, according to the best of your knowledge.
4. Ensure that everyone leaves the immediate area, so that the person who is ill is in a quiet place and privacy is maintained.
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 to extinguish 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 PricewaterhouseCoopers or 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.
14
Terms and Conditions All clients are informed of our terms and conditions which are readily available from our website and The Academy facility. All Customers are deemed to have read them before requesting our services or products. 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 Terms After initial registration for a course, you will receive confirmation of receipt and an invoice for services. 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 arrangements have previously been agreed with The Academy. The Academy reserves the right to take any outstanding balances due from the Customer's debit/credit card on or after the course start date. 2. Cancellations, Deferrals, and Course Changes Any 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 is binding. Refunds (less an administrative fee of 25% of the total course fee) will be made for cancellations received in writing more than 10 working days prior to the event. No refund is available for cancellations made within the 10 working days prior to the event. Delegates may be substituted in order to avoid cancellation at any time prior to the event. There will be no charge if a substitute person wishes to replace the original delegate. Please inform the course administrator of any change to 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 shall endeavour to provide attendees notice in good time and refund or reallocate any payments made in respect of the event. The Academy cannot accept liability for expenses or any other losses relating to costs or time to the client or their employer. 3. Intellectual Property The Academy grants the client a non-transferable, non-exclusive license to use PwC and Kaplan material under the terms of this agreement. This license expires upon the termination of the agreement for services for any reason. The use of The Academy and Kaplan material is for educational purposes only, and clients will not reproduce, retransmit, sell, disseminate, publish, or broadcast this material other than in accordance with this agreement. 4. Limitation of Liability The Academy liability (other than in respect of liability for death or personal injury) for direct losses arising out of their negligence or breach of contract in connection with this agreement is limited to the cost to the client for the courses for which they are registered, and any other costs related to study material. The Academy is not liable for any indirect loss arising from negligence or breach of contract. 5. Data Protection The personal data will be maintained and processed only by PricewaterhouseCoopers UAB for the purpose of registration and disseminating business-related communications in the form of marketing materials and invitations to professional seminars and conferences as part of electronic communication. Consent is voluntary and you may withdraw your consent at any time.
15
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 as much detail as possible, including the training room, tutor, staff member, or any issue involved.
You can submit your complaints, suggestions and/or comments: 1) By leaving completed suggestion form at PwC’s reception 2) Sending email:
[email protected] 4) Sending direct email to ACCA PwC’s Academy contacts in Lithuania:
[email protected] 5) By telephone: +370 5 2546920 6) By contacting ACCA Global:
[email protected] 16
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 performance targets set by ACCA.
The ACCA is most suitable for those that aspire to become professionals in any sector of business.
© 2015 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
17
