ACCA - A Comprehensive course guide

ACCA is a high-level professional qualification and is equivalent to completing a full university degree, and it is the International Federation of Accountants (IFAC), the global Accounting Body, compliant, and is based on international accounting and auditing standards. It is a flexible course as it allows the student to pursue the course along with graduation.

ACCA members are in demand for their finance and accounting knowledge and skills worldwide. An ACCA is a steppingstone into a new world of opportunity – once you become a member, the learning process continues throughout your career. The ACCA has partnerships with employers all over the world.

The ACCA Qualification is designed to ensure that the members get all the competencies and skills needed to work in a wide variety of organizations and in a wide variety of work roles.

Students who are studying for their graduation can pursue ACCA along with their graduation. ACCA conducts exams twice a year so that students can work/complete their other studies while pursuing their ACCA studies.

Age: 18 years

Qualification: 10+2 with (five separate subjects including English and Maths)

• aggregate 65% in Mathematics or Accounts & English
• Minimum of 50% in all other chosen subjects

ACCA duration depends on your level of education.

Students can attempt up to a maximum of four papers per examination cycle, 8 papers per year - any paper within each module in any order, 

Four Exam sessions per year:

• March
• June
• September
• December

Pattern used for exams at various levels is as follows:

•                Applied Knowledge exams – On Demand Computer Based Exam (CBE)

•                Applied Skills exams - Session Based Computer Based Exam 

•                Essential’s exams – Session Based Computer Based Exam 

•                Options exams – Session Based Computer Based Exam 

ACCA offers both Centre based and also Remote based exam facility.

Exemptions based on pre-ACCA Qualification are detailed below:

Visit the official website (https://www.accaglobal.com/in), register online, and upload all your supporting documents to become an ACCA student at any time of the year.

Supporting documents for ACCA registration include

• signed and stamped educational qualification documents, as applicable – 10^th, 12^th, B. Com, CA award certificate/completion certificates

A subscription fee is charged in addition to the initial registration fee in your first year as an ACCA student if you are eligible to sit at two or more exam sessions in a calendar year. (Thereafter the annual subscription fee is due and payable on or before 1 January each year you wish to remain an active student). The basic fee includes

• Initial Registration £30
• Annual subscription £134
  
  Exam Entry Fee:
• Knowledge level (Depends on the level and location where you are going to take the exam) (approximately £89 per exam) 
• Skill level (each exam £143) - £666
• Ethics & Skill module £79
• Professional exam fee total £792
• Material

ACCA has a tiered pricing approach to exam entry. This means that the earlier you enter for your exams, the less you pay. There is also a charge for every exemption awarded.

Essentials for registration:

• Proof of identification such as driver's license, passport, or birth certificate.
• Official translations of any documents not in English, stamped by a licensed translator who is authorized and qualified to provide translation services.
• Evidence that minimum entry requirements are met – Eligibility.
• An applicant under the age of 16 (or under 18 and you live in Kenya or Malaysia) you'll need to upload a signed parental consent form or parental consent form (Malaysia).

• Study with an ALP preferably both from a learning perspective as well as discounts in ACCA Exam fees that you will be eligible on account of ALPs affiliation
• Approved Textbooks
• Appropriate content – Question & Answer Bank
• Book early for exam – cost-effective and center of choice
• Self-check modules – ACCA Practice Platforms
• Specimen Exam

• Profiles for ACCA qualified students in India include accounting advisory, treasury, risk advisory, corporate finance, audit and assurance, internal audit, taxation, investment advisory, etc.
• As an ACCA qualified chartered account, students come trained for senior management positions, and can reach top positions like Chief Financial Officer (CFO) very easily. 
• With a starting salary of 3.5 to 4.5 lakhs as an ACCA fresher, there will always be opportunities that are yet to be unlocked and discovered by students. 
• With over 18 job profiles available, and under those, several positions available, ACCA makes sure that the candidates are left with ample job opportunities in future.

CA and ACCA are two independent bodies, and you can take up the exam anytime, side by side according to your convenience.

You can do ACCA after completing CA Final. A qualified CA receives 9 exemptions. So, qualified CA’s are required to attempt only 4 papers of professional level in ACCA. In 6–12 months a CA can Become an ACCA.

CA students can do ACCA as this would allow them to acquire two qualifications, in the same duration. Completing CA Inter will ease the effort for the Fundamental level of ACCA, and the Professional level of ACCA will ease the effort for a few subjects for CA Final.

But you must keep in mind that you can only do ONE course alongside your CA Course (as per form 112). If you are already doing graduation along with CA, then doing ACCA is not feasible. And also, study leave for CA & ACCA might not be easy during articleship.

Yet, nothing is impossible, and the reward is worth the effort. If you want to complete both the qualifications simultaneously, the best way forward would be:

• Begin with CA and complete up to the CA Inter examinations, which will give you approximately 2 years of work experience (i.e. articleship) before you begin studying full-time for Final CA.
• This will entitle you to exemption for 5 papers (6 if you are also a graduate) of ACCA.
  • Business Technology (FBT)
  • Financial Accounting (FFA)
  • Management Accounting (FMA)
  • Taxation (TX)
  • Audit & Assurance (AA)
• In this time frame, you should start studying for ACCA.
• F5 (Performance Management) and F9 (Financial Management) can be completed relatively quickly as the syllabus overlaps with the CA Inter examinations of Costing and FM.
• Study F7 (Corporate and Business Laws), P1 (Strategic Business Leader), P2 (Strategic Business Reporting), P3(Advanced Financial Management) with diligence in the following year along with article-ship.
• Opt for P4 (Advanced Performance Management), P5 (Advanced Taxation), P7 (Advanced Audit & Assurance) as your final 2 papers, as this overlaps with your Final CA syllabus.
• Attempt your Final CA.
• 3 years of work experience can be counted towards both the qualifications.

The CA candidates can apply for ACCA online at ANY TIME of the year. The applications can be submitted online along with the supporting documents which will be mentioned on the official website of ACCA.