The Institute is a professional and examining body representing Cost and Executive Accountants. It promotes the study and adoption of scientific methods in industrial and commercial enterprise, local government, public service and internal audit streams. The Institute is the only accounting body which provides training to produce financial decision-makers and teaches management auditing.

There are two grades of membership, Fellows and Associated, who are entitled to designate themselves as "Incorporated Executive Accountant" and to use the letters FCEA and ACEA respectively. The institute's examinations are held twice a year in the UK and abroad.

The Institute of Cost and Executive Accountants (ICEA) started off as the Institute of Industrial and Commercial Accountants back in 1939. In 1958 it was incorporated as a company limited by guarantee on the 25th November, 1958 and adopted its present name with the permission of the Department of Trade & Industry on 10th June 1995. The Coat of Arms and badge were granted to the Institute in 1988 by Her Majesty the Queen, through her Kings of Arms at the College of Arms.

It was established mainly to fill a gap in the accounting profession. Public

Accountants both Chartered and Certified produce auditors to certify the Year End

Accounts. Management accountancy produces management Accounts and

Management information.

Before the ICEA was established in 1958 there was none to take financial decisions and to handle corporate finance. The ICEA was established to produce tomorrow's accountants, to excel in making financial decisions, in handling corporate finance, and in performing management auditing in addition to normal accounting functions

The Institute was the first accounting body in the world to provide an examination in Management Auditing for its members. The present Examination syllabus has been prepared to cater for the accounting profession in the European Union and in the Commonwealth. The Institute has over 3,500 members and about 2,000 registered students. It is a modern accounting body which seeks to produce tomorrow's accountants. The Institute has 14 branches in UK and 18 overseas branches. By bringing together into one Organisation persons engaged in a broad spectrum of enterprises, the Institute facilitates the exchange of vital information and ideas, so providing a valuable service to its members and to the accounting profession.

He or she:

An executive accountant has responsibility above that of a management accountant. An executive accountant is expected to play an active and efficient role in the strategic decision-making and implementation of policy at board level, rather than merely providing information designed to assist the Board in their decisions. An executive accountant is qualified to administer finance and to control a company's financial operations.

The lnstitute's official journal, 'Executive Accountant' is published at intervals during the year. Newsletters, in the form of supplements to the journal, are published regularly. The 'Executive Accountant' and Newsletters are sent free of charge to all Members and Registered Students.

There are two grades of membership, Fellows and Associates, who are entitled to designate themselves as "Incorporated Executive Accountant" and to use the distinctive letters F.C.E.A. and A.C.E.A. respectively.

Fellowship is the senior grade of Membership. Most applicants should be Associates at the time of application. No person shall be eligible for admission as Fellow of the Institute unless:

An Associate is one who is elected to Membership by the Council on compliance with the following conditions:

An Associate must have: "Competence in the pursuit of a high occupation or profession - as an employee or as a self-employed person - including the ability to apply a significant range of fundamental principles and techniques, which enable an individual to assume personal responsibility in design, analysis and diagnosis, planning and problem-solving. Extensive knowledge and understanding will be required to underpin competence at this level, together with capability in management and supervision in executive and some professional fields." (NCVQ Level V requirements).

Every member shall be entitled to a certificate of membership indicating the degree of membership. Every such certificate shall at all times remain the property of the Institute and shall, on demand, be returned to the Institute.

Any Fellow, Associate or Technician, provided he is not under any obligation to the Institute, shall be entitled to resign membership on giving notice in writing of intention to do so, not less than six months before the end of the period covered by the annual subscription, and such notice shall be accompanied by the certificate of membership.

Any Fellow, Associate or Technician, failing to give such six months' notice, shall be liable for the annual subscription for the ensuing year.

A Member whose subscription is in arrears can neither vote nor enjoy the practical advantages of membership, such as receiving journals.

A Member who is over 65 may apply for the status of Retired Membership and thereby pay a reduced annual subscription. A Retired Member is not entitled to vote at meetings.

The Examinations of the Institute are limited to Registered Students (and Associates for the Fellowship Examination). No one will be admitted as a Registered Student unless:

A Registered Student who has passed or has been granted exemption from the Associateship Levels I and 2 examinations can apply for a certificate of Technician in Costing & Accounting while he pays his Annual Subscription provided he has at least two years' practical experience and can maintain ledgers, daybooks, prepare statements, etc., using both manual and computerised systems and is able to answer queries. The holder of the Certificate can use the designatory letters "TCA" after his name and describe himself/herself as an "Incorporated Cost Accounting Technician".

A Technician must have "competence in the performance of complex, technical, specialised and professional work activities, including those involving design, planning and problem-solving, with a significant degree of personal accountability. In many areas competence in supervision or management will be required at this level". (NCVQ Level IV requirements).

A Member may only use the ACEA's designatory letters and/or describe himself/herself as an "Incorporated Executive Accountant" in the event that he/she is a Member in good standing, i.e. his/her annual subscription is paid up-to-date, a current Practising Certificate is held (if applicable), his/her indemnity insurance is paid up-to-date (if applicable) and he/she has not been found guilty of a breach requiring action under the disciplinary procedures.

This clause has been registered with the Office of Fair Trading under reference RS2508. As a result, this clause is binding among Members of the Institute, third parties and the OFT, and is enforceable by law.

Disciplinary action will be taken if any Member or registered person infringes the Institute's professional and ethical guide.

Any Fellow, engaged in public practice, who undertakes the duties of an auditor/accountant, may, subject to the conditions of the Institute's Bye-Laws and at the discretion of the Council, be issued annually a "Practising Certificate" on application in the prescribed form and on payment of the prescribed fee in addition to the Annual Subscription. Members are not permitted to use the Institute's designatory letters in public practice without holding a current practising certificate. The Institute maintains a Professional Indemnity Insurance Scheme with Sun Alliance Insurance Group at a reduced rate for its members, Fellows and Associates.

The Institute conducts four examinations, comprising four subjects in each examination: 1. Level 1, 2. Level 2, 3. Level 3, 4. Fellowship.

Examinations are held normally in June and December at the centres and on the dates determined by the Council. Persons who wish to sit for an examination and are eligible under the regulations should apply to the Secretary General for the appropriate forms, which must be returned duly completed, with the appropriate fee, by the closing date. The Council have power to decline any application without giving reasons. Approved candidates will receive at least one week's notice as to the time and place at which they should present themselves.

All candidates will receive separate notification in respect of each or part examination passed. Unsucessful candidates will be informed of the subjects in which they have failed to satisfy the examiners.

The decision of the examiners of the Institute is final and candidates must not enter into correspondence with the Institute on the examination results. In no circumstances will details of the number of marks awarded be divulged.

Upon successfully completing the Associateship/Fellowship examination, candidates may apply to the Secretary for a form of application for appropriate membership of the Institute, provided they can fulfil the other necessary requirements as to eligibility for membership.

Candidates are permitted the following materials owned by the candidates in the Examination Hall: Pencil(s), pen(s), eraser, slide rule, battery operated & noiseless pocket calculator. Wallets and handbags for ladies may be permitted at the discretion of the invigilators.

The Institute normally conducts examinations at overseas centres through the British Council where it maintains an office. Where the British Council does not maintain examination facilities, a candidate may be ermitted if h

approved examination facilities exist there. Where appropriate, modified papers will be prepared to take into account differences in local law and practice, at the discretion of the Council. The Council may increase the fees payable where examinations are taken outside Great Britain under this concession, and students will be advised of the amounts involved before their examination forms are accepted. Every overseas student must submit a passport-size photograph along with his Examination Form certified by his employer or the head of a recognised institute.

The amount of tuition time shown against each subject is the estimated face-to-face or class contact hours. The amount of private study time depends on the ability of individual students. As a guide line, it should be at least equal to the number of tuition hours. Those studying by distance learning should allow three times the class contact hours.

SUMMARY OF SUBJECTS

Associateship: Hours of'Study

Level 1:

1. Accountancy & Costing 60

2. Economics 60

3. Business Law 60

4. Quantitative Methods 60

Level 2:

5. Information Technology Management 60

6. Financial Accountancy 60

7. Company Law 60

or Local Government Law 60

8. Management 60

Level 3:

9. Cost & Management Accountancy 60

10. Advanced Accountancy 60

11. Statutory & Internal Auditing 60

12. Taxation & Tax Management 60

Fellowship:

13. Executive Accountancy & Decision-Making 70

14. Management Auditing & Control 70

15. Strategic Management 70

16. Financial Decision 70

or Local Government Finance 70

Candidates are required to sit and pass in sequence according to the Examination Time-Table and are allowed to take a MAXIMUM OF FOUR subjects at a time. A candidate who obtains a pass mark in a subject(s), need not sit the same subject(s) again.

The last date for receiving entry forms along with the fee by the Institute are as follows: Home Centres: March 31 for June Examination, September 30 for December Examination. Overseas Centres: March I for June Examination, September I for December Examination.

Taxation & Tax management Financial Decision or Local Government Finance

The Institute maintains a clearly defined standard for each part of its examination. The Associateship Level 1, 2 and 3 examinations are of first, second and third year degree standards, whereas the Fellowship examination is equivalent to an honours degree standard of British universities. The Dip E.M.A. is a postqualifying diploma of Master degree standard.

Exemptions are granted on a subject-for-subject basis to anyone who (a) holds a suitable qualification(s) or (b) has had adequate experience in the application of the particular su@ject(s), at the discretion of the Council. No certificate is issued for exemption. The rules for exemption are as follows:

(1) Subject-for-subject basis for recognised professional qualifications from Levels I and 'I;

The Fellowship examination is the ultimate test of competence and will not be subject to exemption except for Fellows of C.C.A.B. bodies or equivalent who may be permitted to take the Fellowship examination by dissertation at the discretion of the Council.

The Association of Certified Book-keepers (ACB) was formed in the late eighties and incorporated in 1991 by guarantee in England with a view to specialising in the promotion of the study and practice of Bookkeeping, Accounting, Computerisation etc. The ACB will award qualifications which are suitable for employees at the first and second levels of work in accounting, costing, internal auditing and taxation. The qualifications are based on NCVQ competence level 2. The ACB has been sponsored

There are two grades of membership, Fellows and Associates who may describe themselves as a "Certified Book-Keeper" and use the designatory letters FACB and AACB respectively after their names.

The Association's journal "Certified Book-keeper" is published at intervals and sent to Members and Students free of charge.

The Association of Certified Book-keepers (ACB) was formed in the late eighties and incorporated in 1991 by guarantee in England with a view to specialising in the promotion of the study and practice of Bookkeeping, Accounting, Computerisation etc. The ACB will award qualifications which are suitable for employees at the first and second levels of work in accounting, costing, internal auditing and taxation. The qualifications are based on NCVQ competence level 2. The ACB has been sponsored

Hours of Study

1. Book-keeping 1 40

2. Book-keeping 2 40

3. Advanced Book-keeping and Accounting 50

4. Taxation - (Fellowship) 50

The amount of tuition time shown against each subject is the estimated face-to-face or class contract hours. The amount of private study time depends on the ability of each student. Candidates are permitted to take examinations in all four subjects or in any combination 1, 2, or 3 subjects according to the Examination Time-Table. A candidate who obtains a pass mark in a subject(s), need not sit the same subject again. The ACB does not limit the re-sits of papers. Examinations are held in June and December and are conducted in association with the Institute of Cost and Executive Accountants.

First Day

9.30 to 12.30 Book-keeping I

14.00 to 17.00 Book-keeping 2

Second Day

9.30 to 12.30 Advanced Book-keeping and Accountancy

14.00 to 17.00 Taxation

EXEMPTION

Exemption may be considered on a subject-for-subject basis to anyone who has passed similar subjects from recognised organisations. Transfer of credit is available for NCVQ recognised level 2 qualifications. The rules for exemptions are as follows:

(I 1) GCSE, RSA Stage 2 or LCC Intermediate from Book-keeping I and 2.

The examination of the ACB is limited to Registered Students. There is no need to have any formal qualifications for registration. Anyone can register as a student who is 16 or over and has adequate command of the English language. Application forms must be completed and submitted to the ACB along with appropriate fee for registration. Annual subscription must be paid in order to maintain the status of registered Students.

Registered Students can neither claim to be members of the ACB nor can they use the designatory letters after their names.

Applicants for Associateship must fulfil the following:

(c) That they are in all other respects fit and proper persons to be so admitted.

Applicants for Fellowship must fulfil the following:

Every member of the ACB is entitled to a certificate of membership indicating the degree (FACB or AACB) of membership. Every such certificate remains the property of the ACB and on demand or cessation of membership, must be returned to the ACB. Members are guilty of gross misconduct if they use the certificate or hold the certificate when their annual subscriptions are in arrears.

Annual subscription is due on January Ist each year. If applicants register after September 30th, they pay half-years annual subscription in the following year.

If Students register after March 31 st or September 30th, they cannot sit in the examination in June and December respectively.

Members who are not under any obligation to the ACB, may resign their membership giving three months notice in writing and such notices must be accompanied by the membership certificates.

A Member who is over 65 and retired from active life may apply for the status of Retired Membership and pay a reduced annual subscription. A Retired Member is not entitled to vote at meetings.

The ACB issues a "Certified Diploma in Computerised Book-keeping and Accountancy". This is a single subject examination in Book-keeping and Accountancy of three hours duration. One hour for theory and practice of Book-keeping and Accountancy and two hours for a practical assignment to prepare Day Books/Spread Sheets, prepare Purchase Ledger, Sales Ledger and Nominal Ledger, draw Trial Balance, Trading and Profit & Loss

Account, and Balance Sheet using a computerised Accounts package.

The ACB also issues a "Certified Diploma in Small Business Administration". Similarly, this is also a single subject examination in Book-keeping and Business Administration of three hours duration.

The ACB conducts its examinations at overseas centres through the British Council where it maintains an office and facilities to conduct examinations. The Council normally charges higher fees for overseas examinations.

The last date for receiving entry forms along with the fee by the ACB are as follows: March 31st for June examinations and September 30th for December examinations.

A notice may be served by the ACB upon any Member or Registered person either personally or by post in a pre-paid letter, addressed to such Member/Registered person at his registered address as appearing in the register of Members/Registered persons.

Tuition for the subjects covered by the ACB's examination is offered by leading colleges, commercial institutes and further education establishments. Students should make their own arrangements.

The ACB does not prescribe "set books" for its examination. Students are advised to consult their tutors as to the textbooks on which they should base, or supplement their study. A list of recommended books of interest are given in the syllabus.

The ACB issues a "Certificate of Compliance" to those members who are in public practice and are covered by professional indemnity insurance. If any members have any difficulties in obtaining professional indemnity insurance in the UK, they should contact the Secretary of the ACB. The ACB can use the ICEA/Sun Alliance Insurance scheme in the UK.

1. Book-keeping 1.

Objective

To demonstrate a knowledge of the principle, role and scope of book-keeping systems. To show that the Students have acquired the ability of recording business transactions (using manual and computerised methods) and checking the accuracy of such records.

Syllabus

Book-keeping principles:

(I 1) Personal, impersonal, real and nominal accounts.

(I V) Bank statement and bank reconciliation.

(VI) Petty cash book.

Book-keeping and Accounting:

(V 1) Capital Expenditure records.

Stock records:

(11) Reconciliation of physical stock with stock records.

Objective

To demonstrate a knowledge of maintaining the complete system of Book-keeping. To show that the Students have acquired the ability of balancing the records and of preparing the statements.

Syllabus

Recording principles:

(111) Disposal of fixed assets and depreciation.

Treatment of specialised accounts:

(111) Royalties.

Year end Book-keeping:

(I I) Cash Flow Statement.

Objective

To demonstrate the knowledge of Accounting, Costing and Ratios. To show that the Student has acquired the ability to understand final accounts and balance sheet and can give interpretation of final accounts and accounting statements.

Syllabus

Types of Business:

(I I) Fixed assets, current assets, current liabilities.

(I V) Accounting statements.

Management Accounts:

(II) Break even chart.

Elements of Costing:

(II) Material classification and stock valuation.

Objective

To demonstrate the knowledge of income tax, corporation tax and VAT. To show that students have acquired the ability to compute income tax, corporation tax and VAT.

Syllabus

The Budget:

(IV) Use of company car and other benefits.

Accounting for VAT:

(111) Input tax, Output tax, Input, Output, EV input and tax.

Business Taxation:

(V) Computation of tax for businesses.

British Taxation:

(I 1) Payment of taxes in time.

There are two grades of membership, Fellows and Associates, who are entitled to the designation "Incorporated Financial Controller" and to use the distinctive letters FAFC and AAFC respectively.