ACCA stands for the Association of Certified Chartered Accountants, which is a global body that provides students with a ‘Certified Chartered Accountant’ certification. ACCA offers a comprehensive and practical approach to learning accounting, finance, and management skills. The ACCA certification is designed for individuals who aspire to become Chartered Accountants and work in various roles such as auditing, taxation, financial consulting, and management accounting.
ACCA subjects are divided into 3 levels: Knowledge, Skills, and Professional. Students can avail themselves of various ACCA exemptions based on their education. Students having a BCom or MCom degree will need to sit for 9 exams instead of 13 and students with CA will need to sit for 4 Exams instead of 13.
ACCA Exam takes place 4 times a year which are March Session, June Session, September Session, and December Session. The average ACCA Course Fee is around INR 170000. The whole fee structure is in GBP and thus the exchange rate of the Rupee comes into play. Students after completing ACCA will have a salary ranging between INR 7 – 8 LPA.
Table of Contents
ACCA Course Details
| Full Form | Association of Certified Chartered Accountants |
| Course Duration | 1-7 years |
| Course Fees | INR 28,000 to INR 2,60,000 Learn More: |
| Exams | 13 exams |
| Eligibility Criteria | 10+2 with a minimum 65% aggregate in Maths/Accounts and English, and 50% in other subjects |
| Career Prospects | Accountants, Auditors, Finance Managers, Business Analysts, Taxation Expert |
| Average Salary | INR 3.5 to 4 LPA |
| Recruiters | PwC, EY, Deloitte, KPMG, Grant Thornton |
What is ACCA?
ACCA is a certificate that is conferred by the Association of Chartered Certified Accountants of the UK which is a global body for professional accountants. ACCA is an accounting organization with more than 2 Lakh members and 6 Lakh students spread across 180 countries.
ACCA course promises a rewarding career in the field of accounting, Finance and Management. The core values of ACCA are to provide opportunity, diversity, innovation, integrity and accountability.
See Also:
| Career as a Banker | How to Become an Investment Banker? |
| How to become a financial manager? | How to become a Chief Financial Officer? |
Why Study?
Students get various advantages after completing the ACCA course. The main advantages are mentioned below
- Students get a certificate that is globally recognized and thus can get opportunities from all these countries. The scope for job opportunities in 180+ markets and recognition from 80 international bodies.
- ACCA is in high demand in the big 4 MNCs. The students get to work in senior roles that are strategically important. It is one of the most affordable ways to get an International Professional Qualification.
- Although it is coordinated from the UK, ACCA has 100 offices globally providing localized support. It also contains local law and tax education making the course relevant in each country.
- There is great flexibility in doing ACCA and students will be able to complete their ACCA certification along with graduation.
See Also:
| How to become an Audit manager? | How to Become a Credit Analyst in India? | How to Become a Financial Analyst? |
Who should Study?
- Students who are interested in a career in Accounts, Finance and Auditing career. It has a flexible and student-friendly examination system helping students who are doing their graduation along with ACCA.
- Students who are in the Accounting line get various exemptions from exams. Thus students with BCom or MCom will get the certificate with fewer exams to give.
- Students who want to do accounting, finance or auditing jobs in big 4 MNCs must do ACCA.
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ACCA Admission
ACCA students can take admission after class 10th. Although they will need to complete a Diploma course before starting on the main ACCA subjects which are 13 in number.
ACCA Eligibility
The best part about ACCA is that it has almost no eligibility criteria. The basic eligibility criteria are mentioned below:
- Students with no formal education will be able to apply for the ACCA Foundation. On passing the Diploma course for ACCA Foundation, students will be able to apply for ACCA qualification which is the main ACCA certification exam
- A student who has passed class 12 must have more than 65% in subjects like English, Mathematics and Accounts. Apart from these, students must have more than 50% in the other subjects.
ACCA Exams
| Particulars | Foundations Level | Applied Knowledge Level | Applied Skills Level | Strategic Professional Level |
|---|---|---|---|---|
| Exam Duration | 2 hours | 2 hours | 3 hours | 4 hours |
| Passing Marks | 50% | 50% | 50% | 50% |
| Total Marks | 100 | 100 | 100 | 100 |
ACCA Exemptions
Students with some kind of degree get exemption from various ACCA Exams. The ACCA exemptions are mentioned below:
- Passing Class 12: Students who have passed class 12 will be exempted from the Foundational Diploma course of ACCA. This exam is for students who have no formal education.
- Passing BCom or MCom: Students who have graduated with a BCom or MCom will be exempted from ACCA Knowledge level exams like Business & Technology (BT), Management Accounting (MA), and Financial Accounting (FA). They will also be exempted from the Corporate and Business Law Exam of Skill Level Exam.
- Clearing Chartered Accountancy: Students who have cleared CA will have 9 papers exempted from 13. Thus Skill Level and Knowledge Level will be completely exempted. Students will have to take only the 4 exams at the Professional Level.
- Clearing CA IPCC: Students who have cleared CA IPCC will need to sit for 8 Exams in ACCA. Only 4 Exams will be exempted which are Business & Technology, Management Accounting, Financial Accounting, Taxation, Audit and Assurance.
See Also:
ACCA Exam Dates
ACCA exam dates are available in 4 cycles or Sessions. The dates of the March Session, June Session, September Session and December Session are mentioned below.
March Session 2024
| Date | Topics |
|---|---|
| March 6, 2024 | Audit and Assurance (AA), Advanced Audit and Assurance (AAA) |
| March 7, 2024 | Taxation (TX), Advanced Taxation (ATX), Strategic Business Leader (SBL) |
| March 8, 2024 | Performance Management (PM), Advanced Performance Management (APM), Advanced Taxation |
| March 9, 2024 | Financial Reporting (FR), Strategic Business Reporting (SBR) |
| March 10, 2024 | Financial Management, Advanced Financial Management (AFM), Corporate and Business Law (LW) |
June Session 2024
| Date | Topics |
|---|---|
| June 5, 2024 | Audit and Assurance (AA), Advanced Audit and Assurance (AAA) |
| June 6, 2024 | Taxation (TX), Advanced Taxation (ATX), Strategic Business Leader (SBL) |
| June 7, 2024 | Performance Management (PM), Advanced Performance Management (APM), Advanced Taxation |
| June 8, 2024 | Financial Reporting (FR), Strategic Business Reporting (SBR) |
| June 9, 2024 | Financial Management, Advanced Financial Management (AFM), Corporate and Business Law (LW) |
September Session 2024
| Date | Topics |
|---|---|
| September 4, 2024 | Audit and Assurance (AA), Advanced Audit and Assurance (AAA) |
| September 5, 2024 | Taxation (TX), Advanced Taxation (ATX), Strategic Business Leader (SBL) |
| September 6, 2024 | Performance Management (PM), Advanced Performance Management (APM), Advanced Taxation |
| September 7, 2024 | Financial Reporting (FR), Strategic Business Reporting (SBR) |
| September 8, 2024 | Financial Management, Advanced Financial Management (AFM), Corporate and Business Law (LW) |
December Session 2024
| Dates | To Be Announced |
|---|
ACCA Syllabus
The ACCA Syllabus contains Foundations in Accountancy, Knowledge Level, Skill Level, and Professional Level. The detailed ACCA Syllabus is mentioned below:
| ACCA Levels | Particulars |
|---|---|
| Foundations in Accountancy | ACCA Diploma in Financial and Management Accounting (RQF Level 2) |
| ACCA Diploma in Financial and Management Accounting (RQF Level 3) | |
| ACCA Diploma in Accounting and Business (RQF Level 4) | |
| Certified Accounting Technician (CAT) | |
| Knowledge Level | Business & Technology |
| Management Accounting | |
| Financial Accounting | |
| Skill Level | Corporate and Business Law (LW) |
| Taxation (TX) | |
| Performance Management (PM) | |
| Financial Reporting (FR) | |
| Audit and Assurance (AA) | |
| Financial Management (FM) | |
| Professional Level | Strategic Business Leader (SBL) |
| Strategic Business Reporting (SBR) | |
| Optional Subjects in the Professional Level | Advanced Financial Management (AFM) |
| Advanced Performance Management (APM) | |
| Advanced Taxation (ATX) | |
| Advanced Audit and Assurance (AAA) |
ACCA Course Fees
The total ACCA Fee is around INR 1,70,000. The detailed ACCA Course Fees are mentioned below
| Particulars | Fees (INR) 1GBP=90 INR |
|---|---|
| Initial Registration | 2,700 |
| Annual subscription | 10,440 |
| Knowledge Level | 22,680 |
| Skill Level | 69,660 |
| Professional Level | 64,170 |
| Total | 1,69,650 |
ACCA Course Comparison
ACCA course is a very relevant financial course that is comparable to Chartered Accountancy and CPA courses. The detailed comparison is mentioned below:
ACCA vs CA
| Particulars | ACCA | CA |
|---|---|---|
| Signing Authority | Overseas | India |
| Recognition | 180+ countries | India, England, Wales, Australia and Middle East Countries |
| Duration | 6-24 Months | 5 Years |
| Attempts | 6 Monthly | 3 Monthly |
| Course Structure | Knowledge Level, Skill Level and Professional Level | CA Foundation, CA Intermediate and CA Final |
| Eligibility | Pass class 12 with 65% in Maths, Accounts, and English with 50% in the rest of the subjects | Pass class 12 |
| Registration Fee | INR 7900 + subscription Fees of INR 11600 per year | INR 9,000 |
| Job Profile | Accounting Advisory, Transaction Advisory, Treasury, Auditing | Statutory Audit, Internal Audit, Investment Management, Direct and Indirect Tax |
ACCA vs CPA
| Particulars | ACCA | CPA |
|---|---|---|
| Course Structure | Knowledge Level, Skill Level, Professional Level | Auditing and Attestation, Financial Accounting and Reporting, Regulation, Business Environment and Concepts |
| Duration | 6 – 24 Months | 1-1.5 Years |
| Eligibility | Pass class 12 with 65% in Maths, Accounts, and English with 50% in the rest of the subjects | Exam – Graduation + 1 year of Post Graduation (120 credits) |
| Licence – Graduation + Post-Graduation (150 credits) | ||
| Average Pass Percentage | 30-40% | 50% |
| Recognition | 180+ countries | Worldwide |
| No of Papers | 15 Papers | 4 Papers |
| Work Experience | 36 Months | 2000 hours or 2 years |
ACCA Scope
There is a huge scope of ACCA in the future with the increase in globalization. Companies are providing services and products from all over the globe. Major scope for ACCA are described below:
- ACCA is recognized by more than 180 countries making it one of the most valued certifications. Most ACCA professionals from India work in countries like UK, Australia, Singapore, and Germany.
- Foreign companies working in India have a huge demand for ACCA professionals. They hire professionals who are qualified for international work and know about international accounting. They must be able to work for US GAAP and IFRS.
- The job scope of an ACCA is equivalent to a CA. An ACCA professional also has the opportunity to do the same kind of job in 180+ countries.
- Government, educational institutions, and various businesses both small and large are connecting with ACCA. ACCA has 7500+ approved employers and 80 partnerships with accountancy bodies.
ACCA Jobs
The salary after ACCA largely depends on the duration of work experience. ACCA students start their careers with a salary of around INR 7 LPA which rises to more than INR 15 LPA with experience. BDO, Grant Thornton, J. P. Morgan and Morgan Stanley are some of the top companies that hire ACCA in accounting to finance.
ACCA Salary
| Job Opportunities | Salary (INR) |
|---|---|
| Accountant | 3,50,000 |
| Chartered Accountant | 9,50,000 |
| Finance Manager | 9,60,000 |
| Auditor | 6,25,000 |
| Associate Auditor | 3,70,000 |
ACCA: FAQs
Ques. Is ACCA difficult than CA?
Ans. Considering the number of years, the number of papers, the course levels, and the diversity of both courses, it is typically believed that the CA course is more difficult than the ACCA course. Regardless, some may find the ACCA exams more difficult due to their wide perspective and broader range of topics. Others may find CA exams more challenging for their depth and focus on specific areas (like Indian accounting standards and laws).
Ques. What are the 13 subjects in ACCA?
Ans. The 13 subjects of ACCA are:
- Business & Technology
- Management Accounting
- Financial Accounting
- Corporate and Business Law (LW)
- Taxation (TX)
- Performance Management (PM)
- Financial Reporting (FR)
- Audit and Assurance (AA)
- Financial Management (FM)
- Strategic Business Leader (SBL)
- Strategic Business Reporting (SBR)
- Advanced Financial Management (AFM)
- Advanced Performance Management (APM)
- Advanced Taxation (ATX)
- Advanced Audit and Assurance (AAA)
Ques. Is ACCA a difficult course?
Ans. The ACCA exam is not particularly challenging. In actuality, the ACCA is simpler to pass than other professional finance and accounting programs like the CA and CFA. Regardless, students might find ACCA difficult. For instance, the ACCA qualification may be challenging for its syllabus, which covers accounting, finance, taxation, and auditing. Additionally, the ACCA exams require students to prove their understanding of international accounting standards and theoretical knowledge.
Ques. Does ACCA contain maths?
Ans. Studying for the ACCA Qualification and passing tests require strong math and English language skills. Students need mathematics, particularly in subjects such as Financial Management (FM) and Performance Management (PM). These subjects need mathematical concepts and calculations related to investment appraisal, risk management, budgeting, and variance analysis.
Ques. Is ACCA expensive?
Ans. The sums shown above cover registration expenses, exam fees, payments for required training programs, coaching fees, and the price of books. With starting pay packages in the range of INR 5–6 lakhs annually, investment in ACCA is comparable to that of other financial courses.
Ques. Is ACCA tough to pass?
Ans. ACCA is an easy examination to skip in case you are prompted and trust that it isn't an essential step to your career. You should have the right mindset. As you progress, the issue stage of ACCA tests will rise.
Ques. How many years does ACCA take?
Ans. You should consequently whole all the assessments in years. However, as you furthermore may want 3 years to enjoy earlier than you could turn out to be an ACCA member and be taken into consideration a certified accountant, the qualification takes at least 3 years the whole.
Ques. Is ACCA better than a degree?
Ans. The ACCA Qualification is broadly equivalent to the degree standard when you take the first nine papers (the Fundamentals level). When you take the Professional level, it is equivalent to a master’s degree
Ques. How many attempts ACCA per year?
Ans. We have 4 examination cycles a yr for each centre-primarily based totally and remotely invigilated checks. Students can take most of 4 checks at some stage in every examination cycle throughout most of 8 awesome checks over the direction of a calendar yr.
Ques. How long is ACCA valid for?
Ans. After your 10 12 months time restrict is reached, you may lose any Strategic Professionals effects which are seven years old, or older, and you may want to take those assessments again. Check your myACCA account to discover while your Strategic Professional effects will expire.
Ques. In which country ACCA is valid?
Ans. The ACCA or Chartered Certified Accountant qualification is absolutely regarded in each the UK and Ireland. Under its Charter, ACCA works withinside the public interest. It is a Designated Professional Body beneathneath the Financial Services and Markets Act, enterprise activities.
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