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The Double Entry Bookkeeping

Professional accounting qualifications include the Chartered Accountant designations and other qualifications including certificates and diplomas.[57] In Scotland, chartered accountants of ICAS undergo Continuous Professional Development and abide by the ICAS code of ethics[58]. In England and Wales, chartered accountants of the ICAEW undergo annual training, and are bound by the ICAEW’s code of ethics and subject to its disciplinary procedures.[59] In the United States, the requirements for joining the AICPA as a Certified Public Accountant are set by the Board of Accountancy of each state, and members agree to abide by the AICPA’s Code of Professional Conduct and Bylaws. In India the Apex Accounting body constituted by parliament of India is “Institute of Chartered Accountants of India” (ICAI) was known for its rigorous training and study methodology for granting the Qualification.[60] The ACCA is the largest global accountancy body with over 320,000 members and the organisation provides an ‘IFRS stream’ and a ‘UK stream’. Students must pass a total of 14 exams, which are arranged across three papers.[61]