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Detail information on the ACCA student loans

ACCA student loans

ACCA student loans: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 June 2016, ACCA recorded that it has 188,000 members and 480,000 students in 178 countries. ACCA’s headquarters are in London with principal administrative office in Glasgow. ACCA works through a network of 100 offices and centres and more than 7,100 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.

ACCA student loans

LOANS NOW AVAILABLE FOR ACCA STUDENTS

ACCA students can now take advantage of education loans through Avanse and Credila.

Bank loans are one of the most common forms of finance for small and medium-sized enterprises (SMEs) and business start-ups.

They are generally a quick and straightforward way to secure the funding needed, which is usually provided over a fixed period of time.

Bank loans can be capital / principal repayment or interest only and can be structured to meet the businesses needs. For businesses seeking to purchase premises, commercial mortgages are widely available and will offer flexible terms to suit each business’s needs. Loans can be short term or long term, depending on the purpose of the loan.

Applying
The business should have a clear idea of the amount it needs to borrow, the amount it can repay and the duration and terms of the loan. It may be possible to arrange a flexible loan, under which a business can draw down additional funds

The bank will consider various factors in agreeing a bank loan, such as the length and history of the business relationship as well as the turnover, profitability and asset base of the company. A good relationship between the business and the bank is important and can help. Applications are generally be made to the business’s bank either in person, by telephone or online.

Maintenance
The business must meet it obligations under the terms of the loan and keep to the agreed repayment schedule. Failure to do so will adversely affect the credit rating of a business. If the business defaults on the agreed schedule, the bank could demand full immediate repayment of the loan.

It is important that any banking covenants are complied with. Failure to do so may result in the bank withdrawing financial support and cause going concern problems for the business.

From short term loans to commercial mortgages, Barclays can help businesses find the right solution to support growth. Follow the links below.

ACCA student loans

There are many grants available if your business fits the criteria. A good starting point is to engage the services of an expert. The main issue with grants is that they appear and disappear in quick succession and the criteria for each grant can be difficult to meet.

Applying
Before you apply for a grant you should make sure that you meet the conditions of the scheme. Additionally, you should ensure that you:

  • • are ready to put up some of your own money
  • need the money for a specific purpose
  • don’t start the project before you get an agreement in principle of funding.

Before applying for a grant, you can contact the Business Link helpline (0845 600 9006) to make sure the scheme is appropriate for your circumstances and location. You could also consider contacting a private business adviser, such as a Chartered Certified Accountant for help and advice.

When you have identified the right grant scheme for your needs, you will have to provide:

  • a detailed project description
  • an explanation of the potential benefits of the project
  • a detailed work plan with full costings
  • details of your own relevant experience and that of other key managers
  • completed application forms where stipulated
  • a business plan.

Most reviewers will assess your proposal by using the following criteria:

  • significance
  • approach
  • innovation
  • their assessment of your expertise
  • Need for the grant.

Be prepared to wait for anything from a few weeks to a year for a decision. Local applications are typically processed much more quickly than others.

Maintenance
The grant provider will seek to ensure that the grant has been applied for correct and qualifying purposes. Failure to expend the grant for the agreed purpose can lead to clawback of the grant.

In addition to grants, there are many other sources of finance to explore. From loans and commercial mortgages to cashflow finance and trade solutions, Barclays can help businesses find the right solution to support growth. Follow the link below.

ACCA student loans

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