Institute Of Chartered Accountants In England and Wales (ICAEW


DEFINITION of 'Institute Of Chartered Accountants In England and Wales (ICAEW'

A group of accountants and finance professionals who have met various industry competency standards in England and Wales. To become a chartered accountant and be designated an Associate of the Institute of Chartered Accountants in England and Wales (ACA), ICAEW members must:

  1. Complete 450 days of relevant work experience (generally three to five years)
  2. Pass stringent exams on financial management, auditing, business strategy, taxation and IT

BREAKING DOWN 'Institute Of Chartered Accountants In England and Wales (ICAEW'

Similar to most professional trade organizations, the ICAEW helps to ensure that potential employers receive assistance from ACA- and FCA-certified accountants by insisting that its members demonstrate a certain level of expertise. In the United States, the American Institute of Certified Public Accountants performs a similar service, although one needn't be a member to be designated a certified public accountant (CPA).

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  1. Can working capital be depreciated?

    Working capital as current assets cannot be depreciated the way long-term, fixed assets are. In accounting, depreciation ... Read Full Answer >>
  2. Do working capital funds expire?

    While working capital funds do not expire, the working capital figure does change over time. This is because it is calculated ... Read Full Answer >>
  3. How much working capital does a small business need?

    The amount of working capital a small business needs to run smoothly depends largely on the type of business, its operating ... Read Full Answer >>
  4. What does high working capital say about a company's financial prospects?

    If a company has high working capital, it has more than enough liquid funds to meet its short-term obligations. Working capital, ... Read Full Answer >>
  5. How can working capital affect a company's finances?

    Working capital, or total current assets minus total current liabilities, can affect a company's longer-term investment effectiveness ... Read Full Answer >>
  6. What can working capital be used for?

    Working capital is used to cover all of a company's short-term expenses, including inventory, payments on short-term debt ... Read Full Answer >>

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