Choosing a profession is one of the vital decisions of your life, it is important to know what course or profession, or skill set you are best suited for. Not everyone is interested in management, some may want to do marketing, similarly some might have keen interest and passion for accounting and auditing. If you are also looking forward to working in a Big4 accounting or auditing firm, then pursuing ACCA might be a key to it. Full form of ACCA is “Association of Chartered Certified Accountants”. It is a global professional body that provides students with a certification called “Certified Chartered Accountant”. It covers a broader range of subjects, including management, business, and international taxation.
Some Key Points about ACCA:
- ACCA qualification is recognized in many countries and is often considered equivalent to local qualifications,
- ACCA offers a practical approach to learning accounting, finance, and management skills.
- ACCA is a multi-skill profession that makes you well-equipped with knowledge in accounting, finance, and even taxation.
ACCA Course and Syllabus
The ACCA syllabus covers various aspects of Chartered Accountancy, including Accounting, Financial Reporting, Auditing, Taxation, Business Finance, and Financial Management. Although the course covers portions of Chartered Accountancy, it is not as rigorous as CA. This qualification would benefit you getting recognised as a global professional. ACCA examination typically covers 13 exams, but if you are a graduate, you are eligible to sit only on 9 exams, or if you are a qualified CA, you can complete your ACCA qualification just by appearing in 4 exams. These exemptions make it a considerate choice. ACCA consists of 3 levels:
- Level 1 is for Applied knowledge, that covers introduction to finance and essential accounting techniques.
- Level 2 is for Applied skills that focuses on building practical finance skills required for the future. You need to clear 6 exams,
- Level 3 is the professional level that covers Advance Topics and practical experience. There are six subjects in total but out of them you must give only four exams, two mandatory subjects and out of the remaining four subjects, you can choose any two subjects of your choice. In total, the ACCA qualification duration typically ranges from 3-4 years.
ACCA Support Scheme and Exam Format
- ACCA offers full-time intensive study programs for non-working students, and weekend courses that allow working professionals to study accordingly,
- ACCA offers Computer Based Exams (CBEs) both on demand (available year-round) and session CBEs (four exam sessions per year). You can take these exams at licensed centres,
- As an ACCA student, you’ll receive 24-hour support from the ACCA connect team. You can access resources like Student Accountant digital magazine, syllabuses, study guides, past exam papers, and a Facebook page for interaction with other students.
ACCA Registration and Course Fees
- To appear for ACCA exams, you are first required to get registered at the ACCA website by submitting personal data such as name, phone number, address, etc.
- Next step is the fees payment, the fees are divided into registration fees (one-time) and yearly subscription to retain membership. ACCA course fees in India approx. to INR 1.2 lakh to INR 2.6 lakh, considering the exchange rate of the Rupee it may vary.
Eligibility and Additional Requirements
ACCA is globally recognized in 180+ countries. You are required to follow the below guidelines to appear for the ACCA exams and pursue the course:
- You must be at least 18 years old to start the ACCA program and must have completed your 12th grade with a minimum of 65% and a minimum of 50% in all other subjects.
- As an ACCA qualified you must successfully complete the Ethics and Professional Skills module and accumulate 3 years of relevant work experience.
ACCA Qualification has a Wide Scope
- ACCA is a renowned global accounting organization with a presence in 179 countries worldwide. It offers the coveted title of a professional accountant to candidates who qualify for its exams.
- ACCA professionals can work in roles such as accountants, auditors, finance managers, business analysts, and taxation experts. They are employed by Big 4 firms (PwC, EY, Deloitte, KPMG). They can expect an average salary of 7 to 8 LPA as a fresher.
- ACCA Professionals have the opportunity to work in senior roles across diverse markets, with an attractive salary of 15 to 20 LPA.
- After five years as an ACCA member, you achieve the prestigious title of Fellow Chartered and Certified Accountant (FCCA), demonstrating extensive experience and commitment to ethics.
- As an ACCA professional you can work anywhere in the world due to its world-class reputation and, it also provides a high salary potential worldwide. ACCA opens doors to work in financial services and public practices to corporate and public sectors.
ACCA offers high salary along with global opportunities, ACCA title carries immense reputation across the globe and employers value ACCA professionals for their comprehensive skills. It offers a promising career, network opportunities and lifelong skill-building.
