Wednesday, January 31, 2018

Demat account

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Dematerialized account number is quoted for all transactions to enable electronic settlements of trades to take place. Every shareholder will have a Dematerialized account for the purpose of transacting

Access to the Dematerialized account requires an internet password and a transaction password. Transfers or purchases of securities can then be initiated. Purchases and sales of securities on the Dematerialized account are automatically made once transactions are confirmed and completed.


Video Demat account



Advantages of demat

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  • The bonus/right shares allotted to the investor will be immediately credited into his account.There is no risk due to loss on account of fire, theft or mutilation. Transaction costs are usually lower than that in the physical segment.
  • A demat account also helps avoid problems typically associated with physical share certificates.

For example: delivery failures caused by signature mismatch, postal delays and loss of certificate during transit. Further, it eliminates the risks associated with forgery and due to damaged stock certificates.

  • Demat account holders also avoid stamp duty (as against 0.5 per cent payable on physical shares) and filling up of transfer deeds.
  • The biggest advantage of having demat account is that you don't have to pay for stamp since these are electronically stored which reduces the transaction cost.

Maps Demat account



Motive of Demat System

India adopted the DEMAT ACCOUNT for electronic storing, wherein shares and securities are represented and maintained electronically, thus eliminating the troubles associated with paper shares. After the introduction of the depository system by the Depository Act of 1996, the process for sales, purchases and transfers of shares became significantly easier and most of the risks associated with paper certificates were mitigated.

In 1996, trading began on NSE for shares held in demat account form. It was the beginning of a new paperless trading stock market trading environment. If an investor buys a share today, it gets credited to the investor's account in two days. Today, shares get transferred to the investor's demat account.


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Benefits of Demat System

Demat account for shares and securities with Business purpose

The benefits of demat are as follows:

  • Easy and convenient way to hold securities
  • Immediate transfer of securities
  • No stamp duty on transfer of securities
  • Safer than paper-shares (earlier risks associated with physical certificates such as bad delivery, fake securities, delays, thefts etc. are mostly eliminated)
  • Reduced paperwork for transfer of securities
  • Reduced transaction cost
  • No "odd lot" problem: even one share can be sold
  • Change in address recorded with a Depository participant (DP) gets registered with all companies in which investor holds securities eliminating the need to correspond with each of them separately.
  • Transmission of securities is done by DP, eliminating the need for notifying companies.
  • Automatic credit into demat account for shares arising out of bonus/split, consolidation/merger, etc.
  • A single demat account can hold investments in both equity and debt instruments.
  • Traders can work from anywhere (e.g. even from home).
Benefit to the company

The depository system helps in reducing the cost of new issues due to lower printing and distribution costs. It increases the efficiency

  the registrars and transfer agents and the secretarial department of a company. It provides better facilities for communication and timely service to shareholders and investors.  

Benefit to the investor : The depository system reduces risks involved in holding physical certificates, e.g., loss, theft, mutilation, forgery, etc. It ensures transfer settlements and reduces delay in registration of shares. It ensures faster communication to investors. It helps avoid bad delivery problems due to signature differences, etc. It ensures faster payment on sale of shares. No stamp duty is paid on transfer of shares. It provides more acceptability and liquidity of securities.

Benefits to brokers

It reduces risks of delayed settlement. It ensures greater profit due to increase in volume of trading. It eliminates chances of forgery or bad delivery. It increases overall trading and profitability. It increases confidence in their investors.


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Depository Participant (DP)

A depository (in simple terms) is an institution holding a pool of pre-verified shares held in electronic mode that offers efficient settlement of transactions. A Depository Participant (DP) is an intermediary between the investor and the depository. A DP is typically a financial organization like a bank, broker, financial institution, or custodian acting as an agent of the depository to make its services available to the investors. Each DP is assigned a unique identification number known as DP-ID. As of March 2006, there were a total of 538 DPs registered with SEBI.,


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Conversion of Demat

Converting physical records of investments into electronic records is called "dematerialising" of securities. In order to dematerialise physical securities, investors must fill in a Demat Request Form (DRF), which is available with the DP and submit the same along with physical certificates. Every security has an ISIN (International Securities Identification Number). A separate DRF must be filled for every ISIN.

The complete process of dematerialisation is outlined below:

  • The investor surrenders the certificates for dematerialisation to the DP.
  • DP updates the account of the investor.
  • Demat accounts are maintained by NSDL(National Securities Depository Limited) and CDSL(Central Depository Servises Limited) and the banks act as intermediary.

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Demat options

There are many hundreds of Depository Participants (DPs) offering the Demat account facility in India as of September 2011. A comparison of the fees charged by different DPs is detailed below.

There are a few distinct advantages of having a bank as a DP. Having a Demat account with a bank DP, usually provides quick processing, accessibility, convenience, and online transaction capability to the investor. Generally, banks credit the Demat account with shares in case of purchase, or credit a savings account with the proceeds of a sale, on the third day. Banks are also advantageous because of the number of branches they have. Some banks give the option of opening a demat account in any branch, while others restrict themselves to a select set of branches. Some private banks also provide online access to the demat account. Hence, the investors can conveniently check online details of their holdings, transactions and status of requests through their bank's net-banking facility. A broker who acts as a DP may not be able to provide these services.


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Fees involved

There are four major charges usually levied on a demat account: account opening fee, annual maintenance fee, custodian fee and transaction fee. Charges for all fees vary from DP to DP.

Account-opening fee

Depending on or may not be an opening account fee. Private banks, such as HDFC Bank and AXIS Bank, ICICI Bank, do not have one. However, players such as Kotak Securities, Sushil Finance, Globe Capital, Karvy Consultants and Bajaj Capital Limited do impose an opening fee. But in Ventura Securities ltd, Angel Broking and some other companies do not have an any opening charge.State Bank of India does not charge any account opening charge while other maintenance and transaction charges apply. Most players levy this when re-opening a demat account. However, the Stock Holding Corporation offers a lifetime account opening fee, which allows the investor to hold on to his/her demat account for a long period. The fee is also refundable.

Annual maintenance fee

This is also known as folio maintenance charges, and is generally levied in advance. It is charged on annual or monthly basis.

Transaction fee

The transaction fee is charged for crediting/debiting securities to and from the account on a monthly basis. While some DPs, such as SBI, charge a flat fee per transaction, HDFC Bank and ICICI Bank pay the fee to the transaction value, which is subject to a minimum amount. The fee also differs based on the kind of transaction (buying or selling). Some DPs charge only for debiting the securities, while others charge for both. Some DP's also charge the investor even if the instruction to buy/sell fails or is rejected. In addition, service tax is also charged by the DPs

In addition to the other fees, the DP also charges a fee for converting the shares from the physical to the electronic form or vice versa. This fee varies for both demat (physical-to-electronic) and remat (electronic-to-physical) requests. For demat transactions, some DPs charge a flat fee per request in addition to the variable fee per certificate, while others charge only the variable fee.

For instance, Stock Holding Corporation has charged Rs 25 as the request fee and Rs 3 per certificate as the variable fee. However, SBI has charged only the variable fee, as Rs 3 per certificate. Remat requests also have charges akin to that of demat. However, variable charges for remat are generally higher than demat.

Some of the additional features (usually offered by banks) are as follows. Some DPs offer a frequent-trader account, where they charge frequent traders at lower rates than the standard charges. Demat account holders are generally required to pay the DP an advance fee for each account that will be adjusted against the various service charges. The account holder needs to raise the balance when it falls below a certain amount prescribed by the DP. However, if the holders also hold a savings account with the DP, they can provide a debit authorisation to the DP for paying this charge. Finally, once choosing a DP, it would be prudent to keep all accounts with that DP, so that tracking of capital gains liability is easier. This is because when calculating capital gains tax, the period of holding will be determined by the DP, and different DPs follow different methods. For instance, ICICI Bank uses the first in first out (FIFO) method to compute the period of holding. The proof of the cost of acquisition will be the contract note. The computation of capital gains is done account-wise.

Indian Banking System First, an investor has to approach a DP and fill up an account opening form. The account opening form must be supported by copies of any one of the approved documents to serve as proof of identity (POI) and proof of address (POA) as specified by SEBI. An investor must have his/her PAN card in original at the time of opening of the account (mandate effective from April 1, 2006).

All applicants should carry original documents for verification by an authorized official of the depository participant, under his signature. Further, the investor has to sign an agreement with the DP in a depository prescribed standard format, which details rights and duties of investor and DP. DP should provide the investor with a copy of the agreement and schedule of charges for their future reference. The DP will open the account in the system and give an account number, which is also called BOID (Beneficiary Owner Identification number). The DP may revise the charges by giving 30 days notice in advance. SEBI has rationalised the cost structure for dematerialisation by removing account-opening charges, transaction charges for credit of securities, and custody charges vide circular dated January 28, 2005.


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Documents Required For Demat Account

To open a Demat account you have to provide documents which fulfill the requirements of KYC (Know Your Customer) norms. You have to sign a contract with Stock broker. Generally the documents are:

  • PAN (Compulsory)
  • Bank statement (last 3 months)
  • Address Proof
  • Income Tax Return
  • Two colour photos
  • Bank crossed Cheque (If required)
  • KYC details
  • Aadhar Card

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Disadvantages of Demat

  • Trading in securities may become uncontrolled in case of dematerialized securities.
  • It is incumbent upon the capital market regulator to keep a close watch on the trading in dematerialized securities and see to it that trading does not act as a detriment to investors.
  • For dematerialized securities, the role of key market players such as stock-brokers needs to be supervised as they have the capability of manipulating the market.
  • Multiple regulatory frameworks have to be conformed to, including the Depositories Act, Regulations and the various Bye-Laws of various depositories.
  • Agreements are entered at various levels in the process of dematerialization. These may cause worries to the investor desirous of simplicity.
  • There is no provision to close a demat account, which is having illiquid shares. The investor cannot close the account and he and his successors have to go on paying the charges to the participant, like annual folio charges etc..
  • After liquidating the holdings, many Indian investors don't close their dp account.They are unaware that DPs charge even on dormant accounts.

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Transfer of Shares between (depository participant) DPs

To transfer shares, an investor has to fill one of two kinds of Depository Instruction Slip (DIS). The first check made is whether both Demat accounts are at the same depository. There are two depositories: (CDSL (Central Depository Service (India) Limited) and NSDL National Securities Depository Limited)). If both demat accounts are not at the same depository, then an Inter Depository Slip (Inter DIS) has to be filled and submitted. For example:

  • If there is one Demat account with CDSL and the other Demat account with NSDL, then an Inter-DIS is needed. (In case the investor needs an Inter-DIS, the investor should check with the broker, since brokers usually issue an Inter-DIS).
  • Now that the correct DIS has been determined, information pertaining to the transfer transaction has to be entered: scrip name, INE number, quantity in words and figures.
  • Finally, the investor should submit that DIS to the broker with signatures.
  • The transfer broker shall accept that DIS in duplicate and acknowledge receipt of DIS on duplicate copy.

The investor should submit the DIS when the market is open. Accordingly, date of submission of DIS and date of execution of DIS can be same or a difference of one day is also acceptable. The investor also has to pay the broker some charges for the transfer.


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References

  • Information about how to Open Demat Account

Source of the article : Wikipedia

Transaction account

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A transaction account, checking account, current account or demand deposit account is a deposit account held at a bank or other financial institution. It is available to the account owner "on demand" and is available for frequent and immediate access by the account owner or to others as the account owner may direct. Access may be in a variety of ways, such as cash withdrawals, use of cheques (checks) and debit by electronic transfer. In economic terms, the funds held in a transaction account are regarded as liquid funds and in accounting terms they are considered as cash.

Transaction accounts are operated by both businesses and personal users. Depending on the country and local demand economics they may not earn any or they can earn very high interest rates. Again depending on the country the financial institution that maintains the account may charge the account holder maintenance or transaction fees or offer the service free to the holder and charge only if the holder uses an add-on service such as an overdraft.

Transaction accounts are known by a variety of descriptions, including a current account (British English), chequing account or checking account when held by a bank, share draft account when held by a credit union in North America. In the United Kingdom, Hong Kong, India and a number of other countries, they are commonly called current or cheque accounts. Because money is available on demand they are also sometimes known as demand accounts or demand deposit accounts. In the United States, NOW accounts operate as transaction accounts.


Video Transaction account



Current accounts

A current account is the form of transactional account found in the United Kingdom and other countries with a UK banking heritage; a current account offers various flexible payment methods to allow customers to distribute money directly to others. Most current accounts come with a cheque book and offer the facility to arrange standing orders, direct debits and payment via a debit card. Current accounts may also allow borrowing via an overdraft facility. One of the main differences between a UK current account and an American checking account is that they earn considerable interest, sometimes comparable to a savings account, and there is generally no charge for withdrawals at cashpoints (ATMs), other than charges by third party owners of such machines.


Maps Transaction account



History

In Holland in the early 1500s, Amsterdam was a major trading and shipping city. People who had acquired large accumulations of cash began to deposit their money with cashiers to protect their wealth. These cashiers held the money for a fee. Competition drove cashiers to offer additional services, including paying out money to any person bearing a written order from a depositor to do so. They kept the note as proof of payment.

This concept spread to other countries including England and its colonies in North America, where land owners in Boston in 1681 mortgaged their land to cashiers who provided an account against which they could write checks.

In the 18th century in England, preprinted checks, serial numbers, and the word "cheque" appeared. By the late 18th century, the difficulty of clearing checks (sending them from one bank to another for collection) gave rise to the development of clearing houses.


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Features and access

All transaction accounts offer itemized lists of all financial transactions, either through a bank statement or a passbook. A transaction account allows the account holder to make or receive payments by:

  • ATM cards (withdraw cash at any Automated Teller Machine)
  • debit card (cashless direct payment at a store or merchant)
  • cash money (coins and banknotes)
  • cheque and money order (paper instruction to pay)
  • direct debit (pre-authorized debit)
  • electronic funds transfers (transfer funds electronically to another account)
  • giro (funds transfer, direct deposit)
  • standing order (automatic funds transfer)
  • SWIFT: International account to account transfer.
  • Online banking (transfer funds directly to another person via internet banking facility)
  • overdraft (agreed provision to borrow money when the account has a zero balance)

Country-specific

Certain modes of payment are country-specific:

  • In the United Kingdom, Faster Payments Service offers near immediate transfer, BACS offers giros that clear in a matter of days while CHAPS is done on the same day.
  • Canada has an Email Money Transfer service
  • In India, NEFT and RTGS services are available to clear funds in a day.

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Access

Branch access

Customers may need to attend a bank branch for a wide range of banking transactions including cash withdrawals and financial advice. There may be restrictions on cash withdrawals, even at a branch. For example, withdrawals of cash above a threshold figure may require notice.

Many transactions that previously could only be performed at a branch can now be done in others ways, such as use of ATMs, online, mobile and telephone banking.

Cheques

Cheques were the traditional method of making withdrawals from a transaction account.

Automated teller machines

Automated teller machines (ATMs) enable customers of a financial institution to perform financial transactions without attending a branch. This enables, for example, cash to be withdrawn from an account outside normal branch trading hours. However, ATMs usually have quite low limits for cash withdrawals, and there may be daily limits to cash withdrawals other than at a branch.

Mobile banking

With the introduction of mobile banking a customer to perform banking transactions and payments, to view balances and statements, and various other facilities using their mobile phone. In the UK this has become the leading way people manage their finances, as mobile banking has overtaken internet banking as the most popular way to bank.

Internet banking

Internet or online banking enables a customer to perform banking transactions and payments, to view balances and statements, and various other facilities. This can be convenient especially when a bank is not open and enables banking transactions to be effected from anywhere Internet access is available. Online banking avoids the time spent travelling to a branch and standing in queues there. However, there are usually limits on the value of funds that can be transferred electronically on any day, making it necessary to use a cheque to effect such transfers when those limits are being reached.

Telephone banking

Telephone banking provides access to banking transactions over the telephone. In many cases telephone banking opening times are considerably longer than branch times.

Mail banking

A financial institution may allow its customers to deposit cheques into their account by mail. Mail banking can be used by customers of virtual banks (as they may not offer branches or ATMs that accept deposits) and by customers who live too far from a branch.

Stores and merchants providing debit card access

Most stores and merchants now have to accept debit card access for purchasing goods if they want to continue operating, especially now that some people only use electronic means of purchase. In the UK it is now reported that 1 in 7 people no longer carries or uses cash.


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Cost

Any cost or fees charged by the financial institution that maintains the account, whether as a single monthly maintenance charge or for each financial transaction, will depend on a variety of factors, including the country's regulations and overall interest rates for lending and saving, as well as the financial institution's size and number of channels of access offered. This is why a direct bank can afford to offer low-cost or free banking, as well as why in some countries, transaction fees do not exist but extremely high lending rates are the norm. This is the case in the United Kingdom, where they have had free banking since 1984 when the then Midland Bank, in a bid to grab market share, scrapped current account charges. It was so successful that all other banks had no choice but offer the same or continue losing customers. Free banking account holders are now charged only if they use an add-on service such as an overdraft.

Financial transaction fees may be charged either per item or for a flat rate covering a certain number of transactions. Often, youths, students, senior citizens or high-valued customers do not pay fees for basic financial transactions. Some offer free transactions for maintaining a very high average balance in their account. Other service charges are applicable for overdraft, non-sufficient funds, the use of an external interbank network, etc. In countries where there are no service charges for transaction fees, there are, on the other hand, other recurring service charges such as a debit card annual fee.


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Interest

Unlike savings accounts, for which the primary reason for depositing money is to generate interest, the main function of a transactional account is transactional. Therefore, most providers either pay no interest or pay a low level of interest on credit balances.

Formerly, in the United States, Regulation Q (12 CFR 217) and the Banking Acts of 1933 and 1935 (12 USC 371a) prohibited a member of the Federal Reserve system from paying interest on demand deposit accounts. Historically, this restriction was frequently circumvented by either creating an account type such as a Negotiable Order of Withdrawal account (NOW account), which is legally not a demand deposit account or by offering interest-paying chequing through a bank that is not a member of the Federal Reserve system. The Dodd-Frank Wall Street Reform and Consumer Protection Act, however, passed by Congress and signed into law by President Obama on July 21, 2010, repealed the statutes that prohibit interest-bearing demand deposit accounts, effectively repealing Regulation Q (Pub. L. 111-203, Section 627). The repeal took effect on July 21, 2011. Since that date, financial institutions have been permitted, but not required, to offer interest-bearing demand deposit accounts.

In the United Kingdom, some online banks offer rates higher as many savings accounts, along with free banking (no charges for transactions) as institutions that offer centralised services (telephone, internet or postal based) tend to pay higher levels of interest. The same holds true for banks within the EURO currency zone.

High-yield accounts

High-yield accounts pay a higher interest rate than typical NOW accounts and frequently function as loss-leaders to drive relationship banking.


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Lending

Accounts can lend money in two ways: overdraft and offset mortgage.

Overdraft

An overdraft occurs when withdrawals from a bank account exceed the available balance. This gives the account a negative balance and in effect means the account provider is providing credit. If there is a prior agreement with the account provider for an overdraft facility, and the amount overdrawn is within this authorised overdraft, then interest is normally charged at the agreed rate. If the balance exceeds the agreed facility then fees may be charged and a higher interest rate might apply.

In North America, overdraft protection is an optional feature of a chequing account. An account holder may either apply for a permanent one, or the financial institution may, at its discretion, provide a temporary overdraft on an ad hoc basis.

In the UK, virtually all current accounts offer a pre-agreed overdraft facility the size of which is based upon affordability and credit history. This overdraft facility can be used at any time without consulting the bank and can be maintained indefinitely (subject to ad hoc reviews). Although an overdraft facility may be authorised, technically the money is repayable on demand by the bank. In reality this is a rare occurrence as the overdrafts are profitable for the bank and expensive for the customer.

Consumer reporting

In the United States, some consumer reporting agencies such as ChexSystems, Early Warning Services, and TeleCheck track how people manage their checking accounts. Banks use the agencies to screen checking account applicants. Those with low debit scores are denied checking accounts because a bank cannot afford an account to be overdrawn.

Offset mortgage

An offset mortgage was a type of mortgage common in the United Kingdom used for the purchase of domestic property. The key principle is the reduction of interest charged by "offsetting" a credit balance against the mortgage debt. This can be achieved via one of two methods: either lenders provide a single account for all transactions (often referred to as a current account mortgage) or they make multiple accounts available, which let the borrower notionally split money according to purpose, whilst all accounts are offset each day against the mortgage debt.


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See also

Transaction related

  • Collection item
  • Demand draft
  • Error account a necessity for auditing transaction accounts
  • Transaction deposit

Account type related

  • Current account mortgage
  • Negotiable Order of Withdrawal account
  • Personal account
  • Savings account

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Notes

Source of the article : Wikipedia

Association of Chartered Certified Accountants

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Founded in 1904, the Association of Chartered Certified Accountants (ACCA) is the global professional accounting body offering the Chartered Certified Accountant qualification (ACCA or FCCA). From Dec 2017, ACCA recorded that it has 200,000 members and 486,000 students in 180 countries. ACCA's headquarters are in London with principal administrative office in Glasgow. ACCA works through a network of over 100 offices and centres and more than 7,200 Approved Employers worldwide, who provide employee development.

The term 'Chartered' in ACCA qualification refers to the Royal Charter granted in 1974.

Chartered Certified Accountant is a legally protected term. Individuals who describe themselves as Chartered Certified Accountants must be members of ACCA and if they carry out public practice engagements, must comply with additional regulations such as holding a practising certificate, carrying liability insurance and submitting to inspections.

The Association of Authorised Public Accountants (AAPA), one of the British professional bodies for public accountants, has been a subsidiary of ACCA since 1996.

ACCA works in the public interest, assuring that its members are appropriately regulated. It promotes principles-based regulation. ACCA actively seeks to enhance the value of accounting in society through international research. It takes progressive stances on global issues to ensure accountancy as a profession continues to grow in reputation and influence.


Video Association of Chartered Certified Accountants



History

ACCA traces its origin to 1904, when eight people formed the London Association of Accountants to allow more open access to the profession than was available through the accounting bodies at the time, notably the Institute of Chartered Accountants in England and Wales and the Institute of Chartered Accountants of Scotland. As of 2006, the goal of ACCA is to become the world's largest global professional body.

Key dates in ACCA history include:

  • 1930: London Association of Accountants successfully campaigns for the right to audit companies.
  • 1933: London Association of Accountants renamed London Association of Certified Accountants.
  • 1939: Corporation of Accountants (Scottish body, founded 1891) merges with London Association of Certified Accountants to become the Association of Certified and Corporate Accountants.
  • 1941: Institution of Certified Public Accountants (founded 1903, and incorporating the Central Association of Accountants from 1933) merges with Association of Certified and Corporate Accountants.
  • 1971: Association of Certified and Corporate Accountants renamed Association of Certified Accountants.
  • 1974: Royal Charter Queen Elizabeth II.
  • 1974: ACCA becomes one of six founding members of the Consultative Committee of Accountancy Bodies (CCAB).
  • 1977: ACCA becomes a founding member of the International Federation of Accountants (IFAC).
  • 1984: Association of Certified Accountants renamed Chartered Association of Certified Accountants.
  • 1995: ACCA members vote at an extraordinary general meeting to rename itself Association of Chartered Public Accountants and to introduce the designation Chartered Public Accountant. The Privy Council subsequently rejected this proposal over concerns about the term "public". It did however agree that any accountancy body bearing a royal charter could use "chartered" as part of its designation.
  • 1996: Chartered Association of Certified Accountants renamed Association of Chartered Certified Accountants. Members become entitled to use the title Chartered Certified Accountant (Designatory letters ACCA or FCCA). The Association of Authorised Public Accountants became a subsidiary of ACCA. The group earned its first Queen's Award, for Export Achievement
  • 1998: ACCA's syllabus formed the basis of the United Nations' global accountancy curriculum titled Guideline on National Requirements for the Qualification of Professional Accountants, published in 1999. ACCA was a participant in the consultative group that devised this global Benchmark.
  • 2001: ACCA received a Queen's Award for Enterprise in International Trade, recognising ACCA's growth and its role in 160 countries worldwide.
  • 2002: ACCA received its second Queen's Award for Enterprise in the space of 12 months, in the Sustainable Development category. The award recognized ACCA's continuing work on social and environmental issues.
  • 2009: ACCA members allowed to provide probate services as of 1 August under Probate Services (Approved Bodies) Order 2009 Number 1588.
  • 2011 to 2012: ACCA is the first accountancy body to publish an integrated report
  • 2014: ACCA members and student numbers reach 600,000 worldwide.
  • 2015: ACCA launches M.Sc. in Professional Accountancy with the University of London (UCL)
  • 2017: ACCA reaches 200,000 fully qualified members (plus 486,000 students) in 180 countries

Maps Association of Chartered Certified Accountants



Qualifications

The ACCA offers the following certifications:

Chartered Certified Accountant (ACCA)

Chartered Certified Accountant is the professional body's main qualification. Following completion of up to 14 professional examinations, three years of supervised, relevant accountancy experience and a professional ethics module, it enables an individual to become a Chartered Certified Accountant. The ACCA professional examinations are offered worldwide four times yearly, in March, June, September and December as paper-based exams. Computer-based exams are also offered for the first four exams (F1, F2, F3 & F4) which are available to take at ACCA licensed exam centres throughout the year. A Bachelor of Science (Honours) degree in Applied Accounting (after completing the Fundamentals level of the exams, the professional ethics module and submitting a Research and Analysis project), is offered in association with Oxford Brookes University.

The syllabus comprises 14 examinations at the moment and will change to 13 papers from September 2018. although some exemptions are available. The qualification is structured in two parts. The Fundamentals level consists of 9 examinations: F1 Accountant in Business, F2 Management Accounting, F3 Financial Accounting, F4 Corporate and Business Law, F5 Performance Management, F6 Taxation, F7 Financial Reporting, F8 Audit and Assurance, and F9 Financial Management.

The Professional level involves 5 examinations (this will change to 4 from September 2018) Within the Professional level three papers are compulsory: P1 Governance, Risk and Ethics; P2 Corporate Reporting; and P3 Business Analysis. Two of the following four options papers must also be completed: P4 Advanced Financial Management, P5 Advanced Performance Management, P6 Advanced Taxation and P7 Advanced Audit and Assurance.

From September 2018 onwards, the P1 & P3 papers will be merged to form single paper titled 'Strategic Business Leader' & P2's name will be changed to Strategic Business Reporting

The ACCA full Professional qualification is regarded as the equivalent of a taught UK master's degree by the UK NARIC and Department of Education.

Subjects include financial accounting, management accounting, financial reporting, taxation, company law, audit and assurance and financial management.

Foundation-level qualifications - Foundations in Accountancy

ACCA offers a range of foundation-level certificates and diplomas - collectively referred to as Foundations in Accountancy - which provide an entry point for anyone new to accounting and finance and who doesn't meet the minimum entry requirements for the ACCA Qualification (which is three GCSEs and 2 A Levels or equivalent, in five separate subjects). Students can start at any level within the Foundation level, but it is recommended that students without any formal academic qualifications start with the Introductory Certificate in Financial and Management Accounting and complete exams FA1, Recording Financial Transactions and MA1, Management Information; then progress to Intermediate Certificate in Financial and Management Accounting and complete exams FA2, Maintaining Financial Records and MA2, Managing Costs and Finance; before progressing to the Diploma in Accounting and Business and completing FAB, Accountant in Business, FMA, Management Accounting and FFA Financial Accounting. Students can use the Foundation-level awards as an entry route onto the ACCA Qualification. Students who complete the Diploma in Accounting and Business will be given exemption from the first three exams of the ACCA Qualification (F1, F2 and F3) and can start their studies on the ACCA Qualification with Paper F4, Corporate and Business Law.

In order to achieve a certificate for the exams completed students must also complete a foundation ethics module called Foundations in Professionalism, but this only has to be completed once, even if a student wishes to achieve both certificates and the diploma.

The Foundation-level exams are available as paper-based exams held in June and December or as on-demand computer-based exams throughout the year at ACCA Licensed exam centres.

Other qualifications

The ACCA offers other qualifications:

  • MBA (for ACCA full members), offered in association with Oxford Brookes University
  • B.Sc.(Hons) in Applied Accounting, offered in association with Oxford Brookes University
  • MSc in Financial Management, offered in association with Heriot-Watt University
  • MSc in Professional Accountancy, offered in association with University of London
  • Diploma in Financial Management (DipFM). This certification was previously known as the Certified Diploma in Accounting and Finance (CDipAF), a financial qualification designed for managers outside of finance. This qualification was replaced with Foundations in Accountancy awards at the end of 2011
  • Diploma in International Financial Reporting (DipIFR)
  • Certificate in International Auditing (CertIA)
  • Certificate in International Financial Reporting (CertIFR)
  • Certificate in International Public Sector Accounting Standards (Cert IPSAS)
  • Certificate in Business Valuation in partnership with the French Chartered Accountants Institute (CSOEC) offered both in English and French courses
  • Global Business Services (GBS) qualifications

Turner & Ellerby Certified Chartered Accountants, Framlingham
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ACCA-X online courses

ACCA-X are online courses developed by ACCA for students starting their studies in accountancy and business. These courses are available for the first seven Foundations level exams and hosted on edX.org with content developed by Epigeum.

In April 2016, ACCA-X won the Best eLearning and Online Education Award at the International and European Association Awards held in Berlin, Germany.

Free courses

The following courses are free and available to anyone in the world:

  • Introduction to Financial and Management Accounting (preparation for FA1 and MA1)
  • Intermediate Financial and Management Accounting (preparation for FA2 and MA2)

The courses are supported by online tutors with interactive content that allow learners to gain financial literacy skills.

These ACCA-X courses are available in over 190 countries worldwide:

  • Accountant in Business (preparation for FAB/F1)
  • Management Accounting (preparation for FMA/F2)
  • Financial Management (preparation for FFA/F3)

Exam passes in these three modules and the completion of ACCA's Professionalism and Ethics module will lead to the Diploma in Accounting and Business.


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Membership

Affiliate

Candidates register as student members to undertake the Professional Scheme qualification.

Upon successful completion of the examinations, student members transfer to Affiliate status.

"For ACCA affiliates to gain admission to full membership, they must demonstrate, on the application form, that they have obtained a minimum of three years of acceptable, supervised, practical experience in an accountancy role (or roles) and have reached the required standard of competence".

Fellowship

From 2008, Fellowship, or senior membership of ACCA, is awarded automatically based on 5 years' continuous membership, subject to compliance with Continuing Professional Development requirements.

Fellow members of ACCA use the designatory letters FCCA in place of ACCA.

Continuing Professional Development

Before 2005, Continuing Professional Development (CPD) was mandatory only for holders of practising certificates and insolvency licences. From 2005 to 2007, ACCA phased in mandatory CPD requirements for all members.




Legal & mutual recognition

Europe

United Kingdom and Ireland

  • The ACCA or Chartered Certified Accountant qualification is fully recognised in both the United Kingdom and Ireland.
    • Under its Royal Charter, ACCA works in the public interest.
    • ACCA is a Designated Professional Body under the Financial Services and Markets Act, business activities.
    • ACCA is a Recognised Professional Body under the Insolvency Act to issue permits to individual Chartered Certified Accountants to conduct insolvency appointments.
    • ACCA is a Recognised Qualifying Body and Recognised Supervisory Body in relation to company auditing under the Companies Act of 1989.
    • ACCA is a member of the Consultative Committee of Accountancy Bodies (CCAB). Members of these bodies are deemed to hold equivalent-level qualifications and advertisements for jobs often state that an organisation is looking for a CCAB-qualified individual.
    • Full members of Consultative Committee of Accountancy Bodies organisations including ACCA could apply for ICAEW membership subject to certain criteria, but in 2013 this was made redundant.
    • Only ACCA, ICAEW, Institute of Chartered Accountants in Ireland, Institute of Chartered Accountants of Scotland and Association of International Accountants are able to authorise members to conduct audit, insolvency and investment business work in both the United Kingdom and Ireland.
  • Outside these countries, legal recognition by government authorities and mutual recognition by equivalent overseas institutes, varies. Where full legal or mutual recognition is not available, ACCA members can sometimes obtain advanced standing in terms of sitting local accountancy examinations. ACCA's strong global reputation may make it unnecessary to acquire a local designation.
  • Similarly, many universities and educational providers will recognise ACCA as equivalent to at least a Bachelor degree in accountancy, for the purpose of obtaining credit towards a local master's degree or an advanced study program.

The Irish Higher Education and Training Awards Council (HETAC) assigned ACCA Qualification to Level 9 of the Irish National Qualifications Framework (NQF) in 2008. Level 9 holds Irish postgraduate qualifications, such as postgraduate diplomas and master's degrees.

In 2011, the Professional Oversight Board published information for the first time about its concerns over self-regulation by particular institutes. Press reports highlighted comments about ACCA, which had implemented recommendations to improve its examination syllabus, but needed to pay greater attention to monitoring long-time members. In 2011, 2012 and 2013 the ACCA professional body had the highest percentage of A&B (best) outcomes from the Financial Reporting Council's Recognised Supervisory Body (RSB) visits to a sample of 'Registered UK Audit Firms'. Though it must be noted that ACCA firms tend to audit smaller and less complex clients.

At the end of 2016 there were over 88,000 members and 90,000 students in the UK & Ireland

European Union (EU), European Economic Area (EEA) & Switzerland

  • The ACCA qualification is legally recognized by all member countries of the European Union under the Mutual Recognition Directive. This recognition extends to the European Economic Area nations and Switzerland. For example, a holder of the ACCA or Chartered Certified Accountant qualification could practice as an accountant in all member countries of the European Union, European Economic Area and Switzerland, describing him/herself as ACCA or Chartered Certified Accountant. Access to local professional qualifications requires a separate test.

At the end of 2016 there were over 16,000 members and almost 60,000 students in Europe (excluding the UK & Ireland).

Turkey

  • ACCA and TÜRMOB (The Union of Chambers of Certified Public Accountants of Turkey) at Turkey signed a partnership agreement in 2004 which enables TÜRMOB members resident in Turkey to follow the ACCA Professional Scheme qualification and achieve ACCA membership.

Others

  • ACCA is recognized by national accounting institutes with joint scheme relationships in:
    • Armenia (Association of Accountants and Auditors in Armenia);
    • Georgia (Georgian Federation of Professional Accountants and Auditors)
    • Malta (Malta Institute of Accountants)
    • Cyprus (The Institute of Certified Public Accountants of Cyprus)
    • Greece (The Institute of Certified Public Accountants of Greece)

North America

United States

  • In June 2012, ACCA and IMA announced a strategic partnership. The two bodies joined forces to empower accountants and financial professionals to drive business performance. In January 2013, The ICMA Board of Regents, representing the certification division of IMA, voted to waive its usual bachelor's degree requirement for ACCA members wishing to earn IMA's CMA (Certified Management Accountant) credential. The bachelor's degree waiver will allow all ACCA members around the world, regardless of background, access to IMA's CMA credential. This is a benefit to ACCA members who wish to have a US-based credential. However, the exemption on CMA exam requirement has been ened in 2013.
  • There is no mutual recognition between ACCA and American Institute of Certified Public Accountants (AICPA)/National Association of State Boards of Accountancy (NASBA).
  • At the end of 2016 there were 2,015 members in the US.

Canada

ACCA announced a Mutual Recognition Agreement with CGA Canada effective from 1 January 2007; renewed in 2011 for a further 5 years period until December 2017. As of 2006, Canadian Institute of Chartered Accountants, World Education Services and the Odette School of Business at the University of Windsor indicated that the evaluation recognized ACCA as having the Canadian equivalence of a bachelor's degree (four years) in Accounting. The Canadian branch of ACCA is pursuing recognition for statutory audit purposes in the province of Ontario under the province's Public Accounting Act of 2004

Canadian Institute of Chartered Accountants (CICA) and Certified Management Accountants in Canada (CMA Canada) announced a joint qualification "Chartered Professional Accountant or CPA Designation", but whether this designation will impinge on ACCA's application for recognition in Ontario is uncertain. Already the newly formed CPA has labelled ACCA as 'advancing a global expansion strategy that targets Canada' and many feel the CICA deem ACCA a threat. On November 29, 2012, the ACCA opened up legal proceedings against the CICA to operate in Canada, complicated by the merger of the accounting profession in Canada, incorporating CICA, CMA Canada and CGA is to use "Chartered Professional Accountant" or CPA. A 10-year transitional period requires all CPA members to use CPA-"legacy designation" rather than the newer designation. The merger completed in 2015.

At the end of 2016 there were 3,011 members in Canada.

Oceania

Australia

ACCA has an office in Sydney and holds exams in major cities including Sydney, Melbourne, Perth, Adelaide and Brisbane.

The Institute of Chartered Accountants in Australia (ICAA), CPA Australia and Institute of Public Accountants recognise ACCA qualification as sufficient to obtain a skill assessment as an Accountant for the purposes of immigration. The Tax Practitioners Board accredited ACCA as a recognised tax agent association and as a recognised BAS agent association on 12 May 2010.

Subject to passing exams in Australian tax and law, ACCA members may obtain the equivalent level of membership from the Institute of Public Accountants. On the same basis, ACCA members can obtain direct entry to the CA Program of the ICAA.

CA ANZ Strategic Alliance On 27 June 2016, ACCA, the Association of Chartered Certified Accountants, and CA ANZ, the Chartered Accountants Australia and New Zealand, announced a strategic alliance which will add value to members locally and globally The Alliance will:

  • Increase the profile of both brands worldwide through their combined and unrivalled network of global offices, and enhanced support to members and other stakeholders.
  • Work on initiatives for the overall development and benefit of the profession and business world including joint research and events.
  • Provide access to resources, tools and educational products.
  • Provide an opportunity for dual membership of both bodies. ACCA members resident in Australia and New Zealand will be invited to apply for CA membership and CA ANZ members will be invited to apply for ACCA membership, subject to meeting the eligibility criteria of the other body.
  • Promote a strong proposition for accounting technicians globally to further widen access to the profession.

At the end of 2016 there were 3,414 members and 1,721 students in Australia.

New Zealand

ACCA has one representative in Auckland and holds its exams there.

New Zealand Institute of Chartered Accountants has removed some exemptions following the re-negotiation of mutual recognition agreement with various accounting bodies including CIPFA and CPA Australia in December 2010. Now ACCA members have to pass three or four modules to qualify as a NZICA member.

At the end of 2016 there were 502 members in New Zealand.

Caribbean, Central & South America

The ACCA is an affiliate of the Institute of Chartered Accountants of the Caribbean. The ACCA qualification is legally recognized by the national accounting institutes with joint scheme relationships in:

  • Barbados (Institute of Chartered Accountants of Barbados);
  • Bahamas (Bahamas Institute of Chartered Accountants);
  • Belize (Institute of Chartered Accountants of Belize);
  • Dominica (Recognized by Companies Act 1994 in the Commonwealth of Dominica);
  • Guyana (Institute of Chartered Accountants of Guyana);
  • Jamaica (Institute of Chartered Accountants of Jamaica);
  • Trinidad and Tobago (Institute of Chartered Accountants of Trinidad and Tobago);
  • Saint Lucia (Institute of Chartered Accountants of Saint Lucia);

The ACCA qualification is legally recognized in the French Guiana (Part of France and hence subject to European Union regulations).

At the end of 2016 there were 4,857 members and 16,000 students in the Caribbean.

Africa

At the end of 2016 there were 13,905 members and 92,000 students in Africa.

Namibia

ACCA was awarded full and unconditional accreditation status as a professional body in Namibia by the statutory Public Accountants' and Auditors' Board (PAAB) on 24 November 2016. The PAAB is a statutory body established to oversee the profession and maintain a register of persons entitled to work or practise as public accountants or public auditors in Namibia.

South Africa

ACCA has no agreement with any accountancy body in South Africa, while Institute of Chartered Accountants in England and Wales, ICA in Scotland, ICA in Ireland have agreements with South African Institute of Chartered Accountants.

Zimbabwe

ACCA Zimbabwe is one of the constituent bodies of the Public Accountants and Auditors Board (PAAB). The PAAB is a statutory body established in 1996 to oversee the profession and maintain a register of persons entitled to work or practise as public accountants or public auditors in Zimbabwe. Only ACCA members in good standing and Institute of Chartered Accountants of Zimbabwe can register as auditors.

Others

  • The ACCA qualification currently is legally recognized by the national accounting institutes with the joint scheme relationships in:
    • Ghana (Institute of Chartered Accountants of Ghana);
    • Botswana (Botswana Accountancy Accountants);
    • Egypt (The Egyptian Society of Accountants & Auditors);
    • Ethiopia (The Ethiopian Professional Association of Accountants and Auditors);
    • Lesotho (Lesotho Institute of Accountants);
    • Malawi (Institute of Chartered Accountants in Malawi);
    • Mauritius (The National Equivalence Council of Mauritius);
    • Sierra Leone (Institute of Chartered Accountants of Sierra Leone);
    • Swaziland (Swaziland Institute of Accountants);
    • Zambia (Zambia Institute of Chartered Accountants);
    • Tanzania (National Board of Accountants and Auditors).
    • Uganda (Management and Accounting Training) ;

Asia

China

ACCA entered China in the late 1980s, and has developed its China base rapidly in recent years. It has entered into agreements with 83 Chinese Universities, many of which are leading in the disciplines of finance and accounting as well as having excellent academic reputations in a wider range of subjects. The most well known institutions include Tsinghua University, Xiamen University, Central University of Finance and Economics, Shanghai University of Finance and Economics, Southwestern University of Finance and Economics, Sichuan University, Xi'an Jiaotong University and Sun Yat-Sen University.

At the end of 2016 there were 24,000 members and over 63,000 students in Mainland China.

Hong Kong

An Agreement of Recognition Arrangement (ARA) between ACCA and HKICPA (Local statutory accountancy body) was put in place on 22 August 2006, backdated to 1 July 2005. This was less flexible than the previous rule.

The old agreement was terminated on 30 June 2005 forcing ACCA members to accept the so-called "8 unfair terms" e.g., hold a degree recognised by HKICPA, work under HKICPA authorised employers, attend workshops and pass HKICPA's Final Professional Examination (FPE), etc.

This notwithstanding, HKICPA members could join in ACCA without any further requirement.

The ACCA qualification is highly accepted by the Hong Kong employment market. Most HKICPA members qualified through a joint scheme with Hong Kong Society of Accountants (HKSA) which operated for more than 20 years. HKSA later became HKICPA.

At the end of 2016 there were 18,238 members and over 8,000 students in Hong Kong.

Macau

The ACCA currently is legally recognised with the joint scheme relationships by Macau Society of Certified Practising Accountants (Local statutory accountancy body) in Macau.

Singapore

ACCA and the national accountancy body, Institute of Certified Public Accountants of Singapore (ICPAS), operate a Joint Scheme of Examinations. The Joint Scheme is based on ACCA examinations and allows students to qualify in Singapore law and tax. Students who complete the Joint Scheme examinations are eligible to join both bodies. ACCA's student numbers in Singapore for the Joint Scheme top 11,000. Singapore's government recognizes the ACCA qualification to meet its immigrant skills assessment.

At the end of 2016 there were 7,757 members and over 18,000 students in Singapore.

Taiwan

According to rules 6(iii) & 9 of accountancy examination published by Taiwan government, ACCA members are entitled to obtain advanced standing in the examinations to become a Certified Public Accountant in Taiwan.

Malaysia

On 13 August 2007 ACCA and the Malaysian Institute of Certified Public Accountants (MICPA) signed an MRA that provided a route for members to join the other body. The ACCA or Chartered Certified Accountant qualification is recognised by the Malaysian Institute of Accountants (MIA). Only MIA members qualify as accountants in Malaysia under the Accountants Act, 1967.

ACCA is statutorily recognised in Part II of the First Schedule of the Accountants Act, 1967.

At the end of 2016 there were 12,521 members and 42,000 students in Malaysia.

Pakistan

The ACCA qualification confers the Qualified Company Secretary designation in Pakistan. ACCA and the local statutory accounting body (Institute of Chartered Accountants of Pakistan) offer partial recognition of each other.

ACCA in Pakistan saw tremendous growth beginning in 2007, with thousands of students enrolling every year into ACCA programs. Local colleges and universities offer ACCA programs in all major cities.

The Higher Education Commission (HEC) of Pakistan recognises ACCA members qualifications as equal to master's degree in Commerce (M.Com). Also ICAP awards some exemptions to ACCA affiliates. Recently ICAP has reduced the exemptions to ACCA affiliates/members. Previously, ACCA affiliates or members were given exemptions up to Module D. Now ACCA affiliates/members can get a maximum of seven exemptions. ICAPs discriminatory behaviour to ACCA students caused a massive decrease in ACCAs market share in Pakistan. Recently ICAP issued a letter to all Pakistan's firms not to give any contracts to foreign qualification such as ACCA and ICAEW. On January 10, 2013, Pakistan's Apex regulatory body, Competition Commission of Pakistan ruled in favor of ACCA and ICAEW students imposing a Rs 25 million penalty on the Institute of Chartered Accountants of Pakistan for the violation, and restrained ICAP from issuing similar directives to its members in the future. As per the order, the relevant course of action for affected would be to pursue compensation from the courts of competent jurisdictions. Later, on the application of ICAP, the Lahore High Court removed the penalty imposed by CCP stating ICAP is a statutory body and is a regulator of the accountancy profession in Pakistan and the CCP had no right to impose such fine on ICAP. On December 6, 2014 ACCA and ICMAP (Institute of Cost and Management Accountants of Pakistan) signed an MOU to enhance the existing academic recognition arrangements between the two accounting bodies. This MoU shall facilitate students and members of ACCA and ICMA Pakistan to earn dual qualification and membership on a fast track basis. ACCA qualified persons are allowed to work as CFOs in public listed companies in United Kingdom, Pakistan, Kingdom of Saudi Arabia, China, Japan and many other countries.

At the end of 2016 there were 3,843 members and over 37,000 students in Pakistan.

United Arab Emirates

On 19 March 2014, ACCA signed a strategic partnership agreement with UAE's national accountancy body Accountants and Auditors Association to help the latter develop a new Chartered Accountant qualification nationwide. The exams will be held jointly, and successful graduates will gain both ACCA and UAE's new Chartered Accountants' qualifications.

  • The ACCA currently is legally recognised by national accounting institutes with joint scheme relationships in:
    • Vietnam (The Ministry of Finance of the Socialist Republic of Vietnam);
    • Brunei (Brunei Institute of Certified Public Accountants);
    • Cambodia (The Ministry of Economy and Finance Kampuchea Institute of Certified Public Accountants and Auditors);
    • Laos (The Ministry of Finance of the Lao People's Democratic Republic).
    • Bangladesh (LCBS Dhaka)

Nepal

  • Nepal, Tribhuwan University (TU) recognises ACCA as equivalent to BBS (bachelor degree) if pursued after completing intermediate level from recognized board.



Global Partnerships

Professional Partners

Through partnerships with professional institutions, ACCA offers students and members access to other related professionals.

  • ACCA is one of three professional bodies (Others are the charterholders of Chartered Financial Analyst (CFA) and MIPA/FIPA members of the Institute of Public Accountants) whose members are recognized by UK's Securities & Investment Institute (SII) as equivalent to full SII membership (MSI). MSI are recognized by national investment professional bodies such as Financial Services Institute of Australasia (FINSIA) and Hong Kong Securities Institute (HKSI).
  • ACCA and FINSIA have a separate global partnership. Under the agreement, students and members of ACCA may obtain advanced standing in the Institute examinations.
  • ACCA and the Institute of Internal Auditors (IIA) have a global partnership. Under the agreement, the two organisations cooperate, collaborate and share resources.
  • ACCA and the Chartered Institute of Taxation (CIOT) have a global partnership to enable ACCA's members to take CIOT's Advanced Diploma in International Taxation (ADIT).
  • ACCA members may access an accelerated route to Associate membership of the UK Association of Corporate Treasurers(ACT).
  • ACCA and Investors in People (IIP) agreed to enable IIP-recognised organisations in the UK and Ireland to apply directly for the award of ACCA Approved Employer (professional developments stream.) ACCA members working in IIP-recognised organisations benefit from the recognition of their work-related learning and take advantage of simplified CPD reporting.
  • Institute of Directors (IoD) and ACCA are working on initiatives to promote good governance and high standards in learning and development. From 2007, ACCA members seeking enhanced skills and improved organisational performance can undertake the Chartered Director qualification - a professional qualification for directors.
  • Institute of Management Accountants (IMA) in United States agreed that Chartered Certified Accountants (ACCA) have to pass a final examination to get the Certified Management Accountant (CMA) designation(this policy has been ended in 2013). This is an IMA policy and mirrors privileges of other IFAC bodies, as well as to others with the equivalent of a U.S. Bachelor's degree (any discipline).

University Links

  • Oxford Brookes University offer a BSc (Honours) in Applied Accounting, and the online supported MBA.
  • Tsinghua University in Beijing agreed to recognise the Oxford Brookes University B.Sc.(Hons) Applied Accounting degree and to accept graduates into Tsinghua's master's programs.
  • The School of Oriental and African Studies (SOAS) at University of London entered a global partnership to enable ACCA members and affiliates to enroll in SOAS's Postgraduate Diploma in Public Financial Management.
  • The University of Cambridge ESOL examinations (English for Speakers of Other Languages) agreed to launch the International Certificate in Financial English (Cambridge ICFE), a new financial English exam.
  • The Said Business School at the University of Oxford offers the Diploma in Financial Strategy, a Masters-level course that provides the essential elements of an MBA for ACCA accountants.
  • Edinburgh Business School at Heriot-Watt University agreed to offer ACCA Part 3 students, affiliates and members a fast track entry through free-of-charge credit transfer and exemption when they matriculate for the MSc in Financial Management by distance or face-to-face learning at a global network of centres.
  • Exeter University offers ACCA members postgraduate qualifications in leadership (MA degree in leadership).
  • The University of London (University College London) offers ACCA members a master's degree in professional accounting.
  • Many universities offer accelerated routes for ACCA members to their masters programmer.

SRM University In July 2017 SRM University in Chennai India and ACCA uk sign mou to assist university student to complete ACCA course

Representation worldwide

ACCA is represented on many committees and bodies around the world.

  • ASEAN Federation of Accountants (AFA)
  • Confederation of Asian and Pacific Accountants (CAPA)
  • Consultative Committee of Accountancy Bodies (CCAB)
  • Eastern, Central and Southern African Federation of Accountants (ECSAFA)
  • European Financial Reporting Advisory Group
  • Fédération des Experts Comptables Européens (FEE)
  • Fédération des Experts Comptables Méditerranéens (FCM)
  • Global Reporting Initiative (GRI)
  • International Federation of Accountants (IFAC)
  • Institute of Chartered Accountants of the Caribbean (ICAC)
  • Inter-American Accounting Association (IAA)
  • South Eastern European Partnership on Accountancy Development (SEEPAD)



See also

  • Association of Authorised Public Accountants (AAPA - Subsidiary of ACCA)
  • Certified Accounting Technician (CAT)
  • Chartered Certified Accountant (ACCA/FCCA)



References




External links

  • Official website
  • Key Facts and Trends in the UK Accountancy Profession, annual publication by the Professional Oversight Board

Source of the article : Wikipedia

Northeastern University

11 Reasons NOT to Go to Northeastern University | OneClass Blog
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Northeastern University (NU, formerly NEU) is a private research university in Boston, Massachusetts, established in 1898. It is categorized as an R1 institution (Doctoral Universities: Highest Research Activity) by the Carnegie Classification of Institutions of Higher Education. The university offers undergraduate and graduate programs on its main campus in the Fenway-Kenmore, Roxbury, South End, and Back Bay neighborhoods of Boston. The university has satellite campuses in Charlotte, North Carolina; Seattle, Washington; and San Jose, California that exclusively offer graduate degrees. An additional satellite campus opened in Toronto, Ontario, Canada in late 2016. The university's enrollment is approximately 18,000 undergraduate students and 7,000 graduate students.

Northeastern features a cooperative education program, more commonly known as "co-op", that integrates classroom study with professional experience and contains over 3,100 partners across all seven continents. The program has been a key part of Northeastern's curriculum of experiential learning for more than a hundred years and is one of the largest co-op/internship programs in the world. The program is a vital experience for Northeastern students and has helped distinguish the university from other universities in the academic world. Northeastern also has a comprehensive study abroad program that spans more than 170 universities and colleges.

Northeastern is a large, highly residential university. Most students choose to live on campus but upperclassmen have the option to live off campus. More than 75% of Northeastern students receive some form of financial aid. In the 2016-17 school year, the university offered $253.8 million in grant and scholarship assistance.

The university's sports teams, the Northeastern Huskies, compete in NCAA Division I as members of the Colonial Athletic Association (CAA) in 18 varsity sports. The men's and women's hockey teams compete in Hockey East, while the men's and women's rowing teams compete in the Eastern Association of Rowing Colleges (EARC) and Eastern Association of Women's Rowing Colleges (EAWRC), respectively. Men's Track and Field has won the CAA back to back years in 2015 and 2016. In 2013, men's basketball won its first CAA regular season championship, men's soccer won the CAA title for the first time, and women's ice hockey won a record 16th Beanpot championship.


Video Northeastern University



History

The Evening Institute for Younger Men, located at the Huntington Avenue YMCA, held its first class on October 3, 1898, starting what would transform into Northeastern University over the course of four decades. The School of Law was formally established that year with the assistance of an Advisory Committee, consisting of Dean James Barr Ames of the Harvard University School of Law, Dean Samuel Bennett of the Boston University School of Law, and Judge James R. Dunbar. In 1903, the first Automobile Engineering School in the country was established followed by the School of Commerce and Finance in 1907. Day classes began in 1909. In 1916, a bill was introduced into the Massachusetts Legislature to incorporate the institute as Northeastern College. After considerable debate and investigation it was passed in March 1916.

On March 30, 1917, Frank Palmer Speare was inaugurated as the new College's first President. Five years later the school changed its name to Northeastern University to better reflect the increasing depth of its instruction. In March 1923, the University secured general degree-granting power from the Legislature, with the exception of the A.B., the S.B., and the medical degrees.

The College of Liberal Arts was added in 1935. Two years later the Northeastern University Corporation was established, with a board of trustees composed of 31 University members and 8 from the YMCA. In 1948 Northeastern separated itself completely from the YMCA.

Following World War II Northeastern began admitting women. During the postwar educational boom, the University created the College of Education (1953), University College (now called the College of Professional Studies) (1960), and the Colleges of Pharmacy and Nursing (1964) (later combined into the Bouvé College of Health Sciences). The College of Criminal Justice (1967) followed, then the College of Computer Science (1982) (since renamed the College of Computer and Information Science).

By the early 1980s the one-time night commuter school had grown to nearly 50,000 enrollees including all full- and part-time programs at both the undergraduate and graduate level. By 1989-1990 University enrollment had reduced to about 40,000 full, part-time, and evening students, and in 1990 the first class with more live-on-campus than commuter students was graduated. Following the retirement of President Kenneth Ryder 1989, the University adopted a slow and more thoughtful approach to change. Historically, it had been accepting between 7,500 and 10,000 students per year based on applications of about 15,000 to 20,000 with acceptance rates between 50% and 75% depending on the program. Attrition rates were huge, with a 25% freshmen dropout rate and graduation rate below 50%, with only 40% of 5,672 undergraduate full-time day students enrolled in the Fall of 1984 graduating by 1989.

When President John Curry left office in 1996 the university population had been systematically reduced to about 25,000. Incoming President Richard Freeland decided to focus on recruiting the type of students who were already graduating as the school's prime demographic. In the early 1990s, the university cut its freshman class size from around 4,500 students to 2,800 in order to become more selective and began a $485 million construction program that included residence halls, academic and research facilities, and athletic centers. Between 1996 and 2006 average SAT scores increased more than 200 points, retention rates rose dramatically, and applications doubled.

During the University's transition, students experienced a reorganization of the co-operative education system to better integrate classroom learning with workplace experience. Full-time degree programs shifted from a four-quarter system to two traditional semesters and two summer "minimesters", allowing students to both delve more deeply into their academic courses and experience longer, more substantive co-op placements.

Throughout the transformation, President Freeland's oft-repeated goal was to crack the Top 100 of the U.S. News & World Report's rankings. With this accomplished by 2005 the transformation from commuting school to national research university was complete. Freeland stepped down on August 15, 2006 and was replaced by Dr. Joseph Aoun, a former dean at the University of Southern California. Aoun implemented a decentralized management model, giving university deans more control over their budgets, faculty hiring decisions, and fundraising.

As part of a five-year, $75 million Academic Investment Plan that ran from 2004 and 2009 the University concentrated on undergraduate education, core graduate professional programs, and centers of research excellence. Faculty was originally to be bolstered by 100 new tenured and tenure-track professors, later expanded to include 300 additional tenure and tenure-track faculty in interdisciplinary fields. Aoun also placed more emphasis on improving community relations by reaching out to leaders of the neighborhoods surrounding the university. In addition, Aoun has created more academic partnerships with other institutions in the Boston area, including Tufts, Hebrew College and the School of the Museum of Fine Arts.

During this time, Northeastern has advanced in national rankings. It placed 42nd in the 2014-2015 U.S. News & World Report's "Best Colleges Guide", a 7 position jump from 2013-2014 and a 27 place gain just since 2010-2011. Some have argued that Northeastern's recent rise in the rankings shows that the university has "cracked the code" to academic rankings, while others have suggested that it has figured out how to "game the system". The 2018 edition of U.S. News & World Report ranked Northeastern 40th in its annual ranking of National Universities.

Whether the rise of Northeastern's ranking was the result of an effort to game the system or not, most would agree that the institution's continual improvements in its placement in U.S. News & World Report's "Best Colleges Guide" allowed the university to improve rapidly via a significantly larger endowment and a more competitive student body. This explains why it was able to surpass other local universities in rankings such as Simmons College and Wentworth Institute of Technology (which were started around the same time). It can also be said that Northeastern's ranking improvements had a cyclical effect where the improved rankings gave the university access to more resources which in turn allowed them to further improve the quality of the university and therefore their rankings. Regardless, it's objectively evident that the quality of the university has skyrocketed within the last twenty or so years as a result of the introduction of new academic programs, far more competitive applicants, new buildings, a larger endowment, alumni donations, new satellite campuses, and the expansion of their flagship Co-op program.

Presidents

Presidents of Northeastern (with tenures in office and campus buildings named in their honor):

  • Frank Palmer Speare (1898-1940, Speare Hall)
  • Carl Stephens Ell (1940-1959, Ell Hall)
  • Asa S. Knowles (1959-1975, Knowles Hall)
  • Kenneth G. Ryder (1975-1989, Ryder Hall)
  • John A. Curry (1989-1996, Curry Student Center)
  • Richard M. Freeland (1996-2006)
  • Joseph E. Aoun (2006-present)

Maps Northeastern University



Satellite campuses

In addition to Northeastern's main Boston campus, the university operates a number of satellite undergraduate locations in Massachusetts, including the George J. Kostas Research Institute in Burlington, a Financial District campus in the Hilton Hotel near Faneuil Hall in downtown Boston, a Dedham Campus in Dedham, Massachusetts, and a Marine Science Center in Nahant, Massachusetts. The Kostas Research Institute for Homeland Security which opened in 2011 in addition to the Laboratory for Structural Testing of Resilient and Sustainable Systems (STReSS Laboratory). The laboratory is "equipped to test full-scale and large-scale structural systems and materials to failure so as to explore the development of new strategies for designing, simulating, and sensing structural and infrastructure systems".

The University has also launched a number of full-service remote graduate campuses in North America, including in Charlotte, North Carolina in October 2011, Seattle, Washington in January 2013, San Jose, California in March 2015, and Toronto in 2016. Additional satellite campuses in Austin, Texas, and Minneapolis, Minnesota are planned.


Northeastern University Club Softball | Boston, MA
src: web.northeastern.edu


Admissions

For the Class of 2021 (enrolling fall 2017), Northeastern received 51,063 applications (more than in any previous year), accepted 14,747 (29%), and enrolled 2,676. The applicants for Northeastern have been steadily increasing from 49,822 in 2014 to the 51,063 applicants for the 2017 year. Of those who applied in 2016, 9,500 were international students, up from 1,128 international applicants in 2006. Of those who enrolled, 20% were international students. In the Power of International Education's 2017 Open Doors report, Northeastern was ranked as the fourth highest institution in the United States to host international students. For the freshmen who enrolled, the middle 50% range of SAT scores was 660-740 for critical reading, 710-780 for math and 690-760 for writing, while the ACT Composite range was 31-34. For the class enrolling fall 2013, Forbes placed Northeastern 35th in "The Top 100 Colleges Ranked By SAT Scores". Of those who were enrolled, 76% were in top tenth of high school graduating class with 94% in top quarter of high school graduating class. Of the freshman who are not international students, 76% are from out of state.


Northeastern University - Great Value Colleges
src: www.greatvaluecolleges.net


Academics

Northeastern offers undergraduate majors in 65 departments. At the graduate level, there are more than 125 programs. A Northeastern education is dynamic, interdisciplinary and entrepreneurial. Founded in 2009, IDEA is Northeastern University's student-led Venture Accelerator, which provides entrepreneurs, including students, faculty, and alumni in the Northeastern community with the necessary support and educational experience towards developing a business from core concept to launch. Academics at Northeastern is grounded in the integration of classroom studies with experiential learning opportunities, including cooperative education, student research, service learning, and global experience, including study abroad and international co-op. The university's cooperative education program places about 5,000 students annually with more than 3,000 co-op employers in Boston, across the United States, and around the globe. In 2014, College Prowler gave Northeastern an "A+" rating for the quality of classes, professors, and overall academic environment.

Undergraduate Class Size

Colleges and schools

Colleges listed including schools and degrees offered:

Student organizations

List of Northeastern University student organizations

Honors Program

The University Honors Program offers selected students an enhanced curriculum. These students are selected from the regular applicant pool with no separate application and represent the applicants with the highest GPA and SAT/ACT scores that year. Starting with the First Year Reading Project and moving on to participating in a wide range of courses during the undergraduate years, the program gives students a variety of academic choices. The culminating experience is advanced specialty work in a major field through college-specific choices including specialized advanced honors seminars and an independent research project. In addition, students in the Honors Program exclusively can live in a Living-Learning Community housed in West Villages C and F. In Fall 2009, the university began housing first-year Honors students in the lower nine floors of the newly constructed International Village residence hall. Starting in Fall 2017, these students are housed in the lower floors of the even newer 17 story East Village residence hall. 2017 also marked the beginning of the Honors Discovery course and the introduction of the Student Assessed Integrated Learning (SAIL) app.

Senior Capstone

The Senior Capstone is an advanced-level course related to the student's major. The course requires the student to integrate what they have learned through their academic coursework and their experiential learning experience (co-op, research, study abroad, and service).

Pre-med program

The university partnered with Tufts University School of Medicine to create an early-acceptance BA/MD Program. This program has been since discontinued. Northeastern's campus is just a few blocks from the Longwood Medical and Academic Area where Harvard Medical School and Harvard School of Dental Medicine are located along with their associated world-class teaching hospitals. These institutions provide NU pre-med students with significant internship opportunities.

Study abroad

Northeastern has semester-long study abroad programs with placements in Africa, Asia, Australia, Europe, and South America. Some participating schools include: University of Cambridge and London School of Economics, England; University of Edinburgh, Scotland; Reims Management School, France; European School of Business, Germany; University of Cape Town, South Africa; University of Auckland, New Zealand; Swinburne University of Technology, Australia; Obirin University, Japan; American College of Thessaloniki, Greece and Pontificia Universidad Católica de Chile, Chile and also Antarctica.

Northeastern's International Business program is a member of the International Partnership of Business Schools. Through this program International Business students have the opportunity to be awarded a dual-degree from Northeastern as well as from a sister school abroad.

Since the arrival of President Aoun in 2006, the school has also been emphasizing co-op abroad, in an effort to make the school more global and internationally engaged. There are many programs being offered including social entrepreneurship in the Dominican Republic, Belize, and South Africa.

Dialogues of Civilizations

Northeastern also has the notable Dialogues of Civilizations program, which features dozens of one-month-long programs (usually taking place in the summer) where a faculty member will teach a group of students in a foreign country related to the curriculum of a specific class. A sort of "mini" study abroad, each program has an area of focus - for example, the Geneva program focuses on small arms and multilateral negotiations while the South Africa program is based in non-governmental organizations. This program is meant to be a communicative experience and an exchange of ideas and cultures. It is open to all majors and all years, and is the most popular study abroad option at Northeastern.

The program is used by some Northeastern students to gain extra credits for a minor or concentration and can also be used by students trying to graduate in 4 years while also participating in one or more co-ops. The program will sometimes take place in multiple locations. Entrepreneurship and Global Consulting in Israel is a dialogue that starts in Boston and eventually has students go to Tel-Aviv and Beer Sheva, Israel. Some dialogues span multiple countries with one being taught in Marrakesh, Morocco then in Amsterdam and concluding in Pairs.

Northeastern also offers a program called NUin for first-year students who choose to start their first semester studying abroad. In 2012, 500 students enrolled in the NUin program in destinations of England, Ireland, Greece, Australia, and Costa Rica.

Research

Research Centers and Institutes at Northeastern include:

The university provides undergraduate students with an opportunity to engage in research through the Center for Experiential Education, CenSSIS Research Experience for Undergraduates, Honors Research, Louis Stokes Alliance for Minority Participation program, and Provost's Office research grants. In FY 2007, annual external research funding exceeded $78 million. In FY 2009-2010, the research funding is close to $82 million. In 2002, Northeastern's Center for Subsurface Sensing and Imaging Systems was designated an NSF Engineering Research Center. In 2004, Northeastern was one of six institutions selected by the National Science Foundation as a center for research in nanotechnology. In 2010, Northeastern was granted $12 million by an alum for a Homeland security research facility, to be named the George J. Kostas Research Institute for Homeland Security, after its chief benefactor.

Faculty

Northeastern had 1,257 full-time faculty, 94.4% of whom possess a doctorate or the terminal degree in their field, and 403 part-time faculty in Fall 2015. Northeastern faculty members direct more than 35 research and education centers, including a National Science Foundation (NSF) Engineering Research Center, an NSF Nanomanufacturing Center, and two NSF Integrated Graduate Education and Research Traineeship programs.

Co-op/internship program

Northeastern has one of the largest co-op/internship programs in the world. Started in 1909, NU's co-op program is one of the oldest in the nation. In the co-op program, students alternate periods of academic study with periods of paid professional employment related to their major. Most majors offer a four-year graduation option with fewer co-op placements, but the five-year program is slightly more popular with students. The co-op program typically begins the spring of the second year or fall of the third year (after a more traditional program for the first semesters on campus). Students usually take anywhere between one and three with 96% participating in one and 78% participating in two or more.

Co-op placements range from small dynamic start-up companies to large multinational companies with thousands of employees, including many Fortune 500 corporations. The program also places students with government agencies, branches of government, nonprofits, and non-governmental organizations. Northeastern students can be found interning in the United States Congress, the White House, United Nations, and at NASA. Student placements usually last six months, and are mostly paid. Students may live in the university residence halls on campus during co-op employment, and the university currently leases housing for students co-oping in New York City, San Francisco, and Washington, D.C. and assists elsewhere.

Some students also decide to develop their own co-ops if they wish to do something that is no offered. This usually involves starting a new company or reaching out to a company Northeastern does not have a partnership with and facilitating the creation of a co-op partnership. Many companies continually pass down their co-op opportunities to Northeastern students so these new partnerships are documented in Northeastern's co-op database, known as Nexus, to be given to future Northeastern students. Students that decide to start their own companies are usually involved with IDEA, Northeastern's Venture Accelerator, and will sometimes spend their entire two or three co-ops solely developing their companies.

The co-op program has led to the university's high reputation when it comes to job placement. 50% of Northeastern students receive a job offer from their co-op employers as of 2017. 92% were either employed or enrolled in graduate school 9 months after graduation. This has also led Northeastern to consistently rank within the top 5 in the Princeton Review's list for "Best Career Services" within the last decade, mainly taking the top spot.

Northeastern University is also a partner with the Boston Youth Fund, which is run by the Boston Youth council and provides summer job and enrichment placement for the City of Boston.

Accreditation

Northeastern University is accredited by New England Association of Schools and Colleges (NEASC)


NORTHEASTERN UNIVERSITY CAMPUS TOUR - YouTube
src: i.ytimg.com


Student activities

Northeastern has over 19 varsity teams in the NCAA, over 30 club sports teams, and over 200 student organizations. Several prominent student-run organizations, including the Resident Student Association (RSA), Student Government Association (SGA), Northeastern University Television (NUTV), Fraternity and Sorority Life (FSL), and the Council for University Programs (CUP) organize activities for Northeastern students as well as the surrounding community.

Athletics

Fourteen of eighteen Northeastern varsity sports teams have been competing in NCAA Division I's Colonial Athletic Association, since 2005.

The school sponsors the following sports teams:

  • (M) Baseball
  • (M), (W) Basketball
  • (M), (W) Cross Country
  • (W) Field Hockey
  • (M), (W) Hockey (in Hockey East)
  • (M), (W) Rowing (in Eastern Association of Rowing Colleges and Eastern Association of Women's Rowing Colleges)
  • (M), (W) Soccer
  • (W) Swimming & Diving
  • (M), (W) Track and Field
  • (W) Volleyball

The NU mascot is Paws. The school colors are red and black with white trim. The fight song, "All Hail, Northeastern", was composed by Charles A. Pethybridge, Class of 1932.

Some notable athletes have played for Northeastern's sports teams. Dan Ross played football at Northeastern long before setting the Super Bowl record for receptions in a game. Reggie Lewis still holds the men's basketball career scoring record. Jose Barea played point guard for the Huskies and averaged 21 points, 4.4 rebounds, 8.4 assists per game as a senior. Barea was drafted by the Dallas Mavericks in 2006. Carlos Peña was named Major League Baseball's American League Comeback Player of the Year in 2007 and an AL Gold Glove winner in 2008. The U.S. Olympic women's ice hockey teams have included Northeastern alumni Shelley Looney and Chanda Gunn.

The baseball team has competed in one College World Series and played in the NCAA regionals seven times.

In its first year in the CAA, the men's basketball team finished in 6th place (out of 12 teams) and advanced to the semifinals of the conference tournament. The CAA proved to be a competitive conference in the 2006 NCAA Basketball Tournament, as George Mason University advanced all the way to the Final Four. In 2007, its second year in the CAA, the women's track team captured the conference championship, while the volleyball team finished second. The women's basketball team won 10 more games in 2008 than the previous year, the biggest one-year turnaround in the CAA, and advanced to the tournament quarterfinals.

Northeastern's men's and women's hockey teams compete in the Hockey East Conference. During the 2007-2008 season, the men's team ranked as high at #7 in the country and held the top spot in the conference before finishing the season in sixth place in Hockey East. Both teams also participate in the annual Beanpot tournament between the four major Boston-area colleges. Northeastern's men's team has won the annual event 4 times in its 54-year history, while the women's team has captured the Beanpot 14 times. During the 2008-2009 season, the men's team ranked as high as 3rd in the nation and held the top spot in Hockey East until the last weekend of the season; the team made the NCAA tournament for the first time since 1994, the Beanpot championship game for the first time since 2004, and goalie Brad Thiessen made the Hobey Hat Trick, only the second Northeastern player to do so.

The Northeastern Crew team consistently ranks as one of the top 10 teams in the nation. In the 2008 National Championship, the team made the Grand Finals and placed fourth behind University of Wisconsin-Madison, University of Washington, and University of California, Berkeley, while beating Brown University, Princeton University, University of Pennsylvania and Harvard University.

Northeastern offers 40 club sports, including judo, rugby, lacrosse, alpine skiing, squash, cycling and ultimate frisbee. In 2005 the women's rugby team finished third in the nation in Division II, while in the same year the men's rugby team won the largest annual tournament in the United States. Recently, the women's rugby team competed and placed 11th at the Collegiate Rugby Championship. The men's lacrosse team began the 2008 season ranked in the Top 10 nationally. The men's and women's squash team finished the 2008 season ranked in the Top 20 nationally. In the 2008-2009 academic year the Northeastern Club Field Hockey and Women's Basketball teams won their respective National Championships. From 2007 to 2009, the Northeastern Club Baseball team won three straight New England Club Baseball Association championships. On May 25, 2010 the club baseball team defeated Penn State to win the National Club Baseball Association Division II World Series and the national championship.

Citing sparse attendance, numerous losing seasons and the expense to renovate Parsons Field to an acceptable standard, the university Board of Trustees voted on November 20, 2009, to end the football program. According to president Joseph Aoun, "Leadership requires that we make these choices. This decision allows us to focus on our existing athletic programs."


Higher Education Construction â€
src: janeyco.com


Campus

Northeastern is located in Boston's Fenway, Roxbury and Back Bay neighborhoods adjacent to Huntington Avenue near the Museum of Fine Arts and Symphony Hall. The area is also known as the Fenway Cultural District.

Although located in the heart of Boston, the NU campus is still filled with trees, flowers, and grassy quads. Since the late 1990s, Northeastern has been considered a model of design for urban universities and has twice won the "most beautiful new or renovated exterior space" award (presented by the American Institute of Architects) in 2001 and 2004. The site of the first baseball World Series is commemorated, in front of the university's Churchill Hall, by a statue of Cy Young.

Residential Halls

Residential halls at Northeastern vary quite significantly with buildings like Kennedy Hall and 153 Hemenway Street being former Boston apartment buildings that were bought out by Northeastern and turned into residential halls while International Village and East Village are tall high-rise buildings built specifically for the purpose of housing Northeastern students. Residential halls can host as little as 50 students or as many as 1,000. The traditional dorms include one room that can be a single, a double, a triple, or a quad depending on how many students reside there. Suites usually contain a bathroom and a shared common area between multiple rooms.

All residential buildings have traditional housing but the following list divides the ones that contain only traditional and the ones that have suite-style housing.

Students are usually divided into groups called Living Learning Communities (LLCs) which place student's with certain majors, interests or hobbies together. LLCs will have host events related to specific area of interest for members of that LLC to participate in. LLCs can span sections of floors in a residential hall, entire floors, multiple floors, entire buildings or can be found present in multiple buildings. Here is a list of all the LLCs offered to freshman.

Matthews Arena

Opened in 1910 and widely known as the Boston Arena, Matthews Arena is the world's oldest surviving indoor ice hockey arena. Located on the east edge of Northeastern University's campus, it is home to the Northeastern Huskies men's and women's hockey teams, and men's basketball team as well as the Wentworth Institute of Technology's men's hockey team. The arena is named after former Chair of the Board of Trustees George J. Matthews and his wife, the late Hope M. Matthews. The arena is the original home of the NHL Boston Bruins and the WHA New England Whalers (now the NHL Carolina Hurricanes). It was also the secondary home to the NBA Boston Celtics in the 1940s. It has hosted all or part of the America East Conference men's basketball tournament a total of seven times and hosted the 1960 Frozen Four. The arena also served as the original home to the annual Beanpot tournament between Boston's four major college hockey programs.

Marino Recreation Center

Named after Roger Marino, co-founder of EMC Corporation, the Marino Center features on its first floor an atrium with two cafés (Au Bon Pain and b.good) and a food market (Wollaston's). The second floor includes a student exercise area, a multipurpose room is used for aerobics classes and martial arts clubs. The gymnasium consists of three basketball courts. On the third floor, a state-of-the-art resistance training area and a fully equipped free weight room. A three-lane suspended track is available for either walking or jogging, and rowing ergometers are available.

Centennial Common

Centennial Common was created to mark the 100th anniversary of the University in 1998. It also serves as a gateway to the West Campus. The area is a big grass circle that spans a few hundred feet and contains lawnchairs for students to relax on as well as a flagpole that displays the U.S. flag. The area is frequently used by students for recreational purposes or organizations/clubs who have booths.

Library facilities

The NU Libraries include the Snell Library and the John D. O'Bryant African-American Institute Library. The NU School of Law Library is separately administered by the NU School of Law.

Snell Library opened in 1990 at a cost of $35 million and contains 1.3 million volumes. The Digital Media Design Studio within the library is a collaborative and interdisciplinary learning environment for creating course-related multimedia presentations, projects, and portfolios. The library is home to the Favat Collection, a current collection of children's literature and K-12 curriculum resources, instructional materials, and related information to support courses offered by the School of Education. It contains three computer labs operated by NU Information Services. Two are available to all NU students, faculty, and staff; the other is a teaching lab.

The NU Libraries received federal depository designation in 1962. As a selective depository, the Libraries receive forty-five percent of the federal publication series available to depository libraries.

The Snell Library is also home to the Northeastern University Archives and Special Collections department, which includes the Benjamin LaGuer papers collection. The Special Collections focus on records of Boston-area community-based organizations that are concerned with social justice issues.

Snell Library is also open 24 hours a day, allowing students to study at any given time.

Spiritual Life Center and Sacred Space

Within the urban environment that characterizes the campus as a whole, NU has carved out a quiet, peaceful space in the centrally located Ell Building for the Spiritual Life Center's Sacred Space. The nondenominational Sacred Space, the Center's main assembly hall, can be configured with carpets, mats or chairs. It has a distinctive ceiling consisting of 3 hanging domes made of overlapping aluminum tiles with an origami-like effect, warm wood floors and accents, and glass-paneled walls that lean outward slightly, their shape and material giving a sense of openness and volume to the space. Faucets for ablution are available in a flanking antechamber, and the Center also contains a smaller meeting space and library. The Sacred Space opened in 1998. The architects Office dA (Nader Tehrani & Monica Ponce de Leon) received the 2002 Harleston Parker Medal from the Boston Society of Architects for the design.

West Village

The West Village complex includes eight buildings serving mainly as residence halls and classrooms.

  • Building A (opened 1999): Residence Hall (two sections, West Village A North and South).
  • Building B (opened 2001): Residence Hall.
  • Building C (opened 2001): Residence Hall (several floors for upperclassmen honors students) and one classroom.
  • Building D - Behrakis Health Science Center (opened 2002): classrooms and laboratories
  • Building E (opened 2002): Residence Hall.
  • Building G (opened 2004): Residence Hall and several classrooms.
  • Building H (opened 2004): Residence Hall. Open to students who are over the age of 21. Single rooms only. It's the new home of the College of Computer and Information Science (several classrooms, offices and computer labs). Building H was originally reserved for honors student, but that rule was dropped.
  • Building F (opened 2006): Residence Hall for upper-class students, classrooms, John D. O'Bryant African-American Institute, Admissions Visitors Center.

The plans for Building K, a 22-story high rise housing 600 beds, have been completed and will be rented to the university until they are able to buy it.

South Campus (Columbus Avenue)

Northeastern University's southernmost section of campus is located along Columbus Avenue in Roxbury, parallel to the Orange line. The University expanded south into Roxbury at the same time as they were building West Village. In 2001, Davenport Commons was opened, providing 585 students housing in two residence halls while 75 families representing a range of incomes have been able to purchase a condo or townhouse at or below Boston's market value. Davenport Commons also created commercial space on Tremont Street.

During the summer of 2006, Northeastern University proposed a new residence hall further away from the main campus, at the corner of Tremont Street and Ruggles Street. Construction began in late February 2007. In the Spring of 2009, The complex was named International Village and opened later that Summer. Its nicknames include "IV" and "INV." It consists of three interconnected residence halls, an office complex, administration building, and a gym. A 400-seat dining hall is available to all members of the Northeastern community as well as the public.

The following buildings make up the South Campus, :

Interdisciplinary Science & Engineering Complex

On February 21, 2014, Northeastern University had its groundbreaking ceremony for the new Interdisciplinary Science & Engineering Complex on Columbus Avenue. Completed in 2017, the 220,000 square foot building provides research and educational space for students and faculty from the College of Science, Bouvé College of Health Sciences, College of Engineering, and College of Computer and Information Science. The centerpiece of the complex includes a large atrium, a spiral staircase, and a 280-seat auditorium.

East Village

East Village is Northeastern's newest dorm building for Honors freshmen and upperclassmen. The building is located at 291 St. Botolph Street and opened in January 2015. Honors freshman live in its suite-style rooms whereas upperclassmen can choose full apartments with kitchen facilities.

Dodge Hall

Dodge Hall is mainly used for Northeastern's business programs (Before Snell Library opened in 1990, it served as the university's main library). Dodge Hall has five floors. The basement houses a computer lab and is connected to the university's large network of underground tunnels which connects many buildings.

Classrooms and a lounge area occupy the first floor. The D'Amore-McKim School of Business undergraduate office is on the second floor, and the graduate office is on the third floor. The School of Professional Accounting office is on the fourth floor.

Directly behind Dodge Hall is the YMCA where Northeastern was founded.

Sustainability

The most recent Sustainable Endowments Institute's College Sustainability Report Card issued Northeastern a grade of "A-" for its environmental sustainability efforts and programs. Additionally, the Princeton Review rated Northeastern as one of the top 15 "Green Colleges" in the nation in 2010. In 2011, the GreenMetric World University ranking evaluated Northeastern as the second greenest university in the world, and first in the US.

In accordance with a Boston zoning code amendment in 2007, the International Village residence hall was certified as a LEED Gold building in 2010. Dockser Hall was the first building on campus to achieve LEED certification, also Gold, with the completion of its renovation in 2010.

Public safety

The Northeastern University Police Department (NUPD) is a full-service law enforcement agency with full powers of arrest on university property or property used by Northeastern students and faculty. The campus is adjacent to the Boston Police Department's Headquarters. A 2008 Reader's Digest survey ranked NU as the second safest school in the United States after Johns Hopkins University in Maryland.

Public transportation

Northeastern is bracketed by the MBTA's Orange Line and Green Line "E" Branch. Six stations serve the campus: Massachusetts Avenue and Ruggles on the Orange Line; and Symphony, Northeastern, Museum of Fine Arts, and Longwood Medical Area on the Green Line. The Green Line is paralleled by the #39 bus. Ruggles also serves several of the southside lines of the MBTA Commuter Rail system.

Campus development background

Northeastern's campus is mostly located along Huntington Avenue in an area known as the "Fenway Cultural District" which is part of Boston's Fenway and Back Bay neighborhoods. Other notable institutions in the district include: the Museum of Fine Arts, Isabella Stewart Gardner Museum, Symphony Hall, the Huntington Theatre Company, New England Conservatory, Boston Conservatory, Berklee College of Music, Christian Science Center, Mary Baker Eddy Library and Harvard School of Public Health.

Northeastern's campus is something of an urban oddity; despite its location in central Boston, Northeastern is home to a significant amount of green open space and quads.

A site master planning competition awarded a contract to revive and rejuvenate the campus; the process was started in 1988 with the creation of the new Northeastern Quad and Mt Ryder. A small oval of land centrally located at the campus main entrance was refurbished by the donations of the graduating class of 1989.

What was once a concrete square, outside of the library and student center, was transformed with brick pavers and granite curbstones, in a scalloped design that would eliminate all square corners, a concept developed by the outgoing class of 1989 in a "Northeastern News" poll and suggestion to the President Box that was presented to the board of Trustees in March 1988. The "No Corners" campaign kicked off with a fundraiser at the Ell Student Center on Parents weekend in October 1988. The later selection of a nationally recognized green space landscape architectin 1990 started a renewal plan that continues today. Since the late 1990s Northeastern has twice won the "most beautiful new or renovated exterior space" award presented by the American Institute of Architects in 2001 and again in 2004. In 2008, West Village Building F was recognized in American Institute of Architects New England 2008 Merit Awards for Design Excellence.

In 2003, Northeastern was awarded the prestigious gold medal by the Massachusetts Horticultural Society for its Dedham Campus.


Professor Lee-Parsons | Northeastern University
src: www.northeastern.edu


Rankings

The 2018 edition of U.S. News & World Report ranked Northeastern tied for 40th in the National Universities category and ranked 229th in the Global Universities category. (U.S. News & World Report) (2018). Forbes ranked it #241 overall in the nation.

U.S. News & World Report rankings by year:

Some have argued that Northeastern's recent rise in the US News rankings shows that the university has "cracked the code" to academic rankings, while others have suggested that it has figured out how to "game the system".

Additional Northeastern rankings include:

  • 1st in "Best Internships/Career Services" (Princeton Review) (2008, 2009, 2010, 2011, 2013, 2014, 2015) - This ranking includes job placement figures
  • 4th in "Top 25 Entrepreneurship: Ugrad" (Princeton Review) (2017, 2018)
  • 6th in "Most Innovative Schools" (U.S. News & World Report) (2018) (up from 7th in 2017)
  • 9th in "Best Undergraduate International Business Programs" (U.S. News & World Report) (2018)
  • 12th in "Best Graduate School Programs in Criminology" (2017)
  • 13th in Top 50 Game Design: Ugrad (Princeton Review) (2017, 2018)
  • 14th in "Best Health Care Law Programs" (2018)
  • 18th in "Freshman Retention Rate" - 97%(U.S. News & World Report) (2018)
  • 19th in the nation for "Undergraduate Business Schools" (Bloomberg Businessweek) (2014)
  • 20th in "Best Physician Assistant Programs" (2018)
  • 22nd in "Best Nursing-Anesthesia Programs" (2018)
  • 30th in "Best Clinical Training Programs" (2018)
  • 30th in "Best Speech-Language Pathology Programs" (2018)
  • 32nd in "Best Graduate Industrial / Manufacturing / Systems Engineering Programs" (2018)
  • 32nd in "Best Online Graduate Computer Information Technology Programs"
  • 33rd in "Best Graduate School Programs in Pharmacy" (2017, 2018)
  • 33rd in "Lowest Acceptance Rate" (2018)(U.S. News & World Report)
  • 36th in "Best Graduate Civil Engineering Programs" (2018)
  • 37th in "Best Online Graduate Business Programs" (Excluding MBA) (2018)
  • 36th in "Best Graduate Computer Engineering Programs" (2018)
  • 38th in "Best Audiology Programs" (2018)
  • 39th in "Best Engineering Graduate Schools" (2018)
  • 39th in "Best Graduate Mechanical Engineering Programs" (2018)
  • 39th in "High School Counselor Rankings" - Top university rankings according to high school counselors (U.S. News & World Report) (2018)
  • 40th in "Best Graduate Physical Therapy Programs" (2018)
  • 42nd in "Best Graduate Electrical / Electronic / Communications Engineering Programs" (2018)
  • 42nd in "Best Online MBA Programs" (2018)
  • 47th in "Best Graduate Sociology Programs" (2018)
  • 48th in "Best Graduate Biomedical Engineering / Bioengineering Programs" (2018)
  • 49th in "Best Undergraduate Engineering Programs" (2018)
  • 54th in "Best Business Graduate Schools" (2018)
  • 54th in "Best Graduate Environmental / Environmental Health Engineering Programs" (2018)
  • 54th in "Best Graduate Materials Engineering Programs" (2018)
  • 57th in "Best Nursing Graduate Schools" (2018)
  • 58th in "Best Graduate Chemical Engineering Programs" (2018)
  • 60th in "Best Computer Science Graduate School Programs", with the Programming Language specialty ranked 13th.(2017, 2018)
  • 60th in "Best Graduate Mathematics Programs" (2018)
  • 60th in "Best Graduate Physics Programs" (2018)
  • 60th in "Best Law Schools" (2018)
  • 64th in "Best Business Program" (2018)
  • 65th in "Best Nursing Graduate Schools" (2018)
  • 65th in "Best Law Schools" (2018)
  • 66th in "Best Graduate Psychology Programs"(2018)
  • 67th in "Best Graduate English Programs"(2018)
  • 67th in "Best Value Schools"(2018)
  • 77th in "Best Graduate Public Affairs Programs" (2018)

Northeastern University Housing Living Learning Communities
src: www.northeastern.edu


Notable alumni and faculty

Notable alumni of Northeastern University include Saad Kidwai, U.S. Senator Mo Cowan (JD), New Hampshire Governor and U.S. Senator Maggie Hassan (JD), filmmaker Courtney Hunt (JD), Amin Khoury (MBA), President and Chief Operating Officer of SoftBank Corp. Nikesh Arora (MBA), talk show host Wendy Williams (BA), co-founder of Napster Shawn Fanning, CEO and co-founder of Souq.com Ronaldo Mouchawar, basketball player José Juan Barea, co-founder of Twitter Biz Stone, musician Eddie Chow and baseball player Carlos Peña.

Notable faculty of past and present include former Massachusetts governor and Democratic presidential candidate Michael Dukakis.


Northeastern University Admissions: SAT Scores, More
src: fthmb.tqn.com


See also

  • Northeastern University (MBTA station)
  • Ruggles (MBTA station)
  • Huntington Avenue Grounds

School of Pharmacy | School of Pharmacy Alumni | Northeastern ...
src: bouve.northeastern.edu


References

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Relive the Experience: Northeastern University Underwear Run 2013 ...
src: i.ytimg.com


External links

  • Official website
  • Northeastern University Athletics website

Source of the article : Wikipedia