FAQS

What is the scope of ACCA in India?

Scope of ACCA in India

The scope for ACCA in India is growing. Almost the entire network of ACCAs in India we are connected with are employed with the Big 4 or an MNC.

The number of employers, who are aware of the ACCA and are open to hiring the same, is growing at a quick pace. So as long as you are working hard to find your desired job, you will. Further, your opportunities to work overseas also remain open.

Having completed my ACCA from Mumbai, India, I hope my views would aid your decision making process.

In India, you can secure a job as an ACCA in a lot of companies, including the Big 4 (PwC, EY, Deloitte, KPMG), as well as other MNCs (multinational corporations).

These job offers are for the same designation, profile, as well as salary packages as the Indian CAs.

I know ACCAs working in different companies such as Deloitte, KPMG, Tata Communications, Embassy Group, Grant Thornton, mid-sized audit firms, etc. in cities such as Mumbai, Bangalore, Pune, etc.

Further, there have been ACCAs from India who have secured jobs overseas in countries such as Australia and some that are applying in Singapore and Dubai.

I myself was employed at PricewaterhouseCoopers in the International Taxation department.

Overall, ACCA does create job opportunities in India. Even though many of the companies I mentioned above hire ACCAs, several companies may not know about the qualification, but awareness is rising.

ACCA along with BCOM/BAF/BFM/BBA/BBI/BMS a good combination?

ACCA along with BCom/ BAF/ BFM/ BBA/ BBI/ BMS

Yes. I myself have completed BCom with ACCA, and I was recruited in PwC in the International Taxation department.

The course can be completed along with BCom if you have the correct timeline structured in place, and the benefits can be reaped at a relatively sooner stage.

With regards to the scope, the qualification is considered as ‘Global CA’, and works in most countries across the world.

Majority of the entire network of ACCAs I know in India are all working in some MNC or the other. However, if you want to practice as a chartered accountant in India, then this would not be the right path for you.

What is the initial salary package for ACCA members in India?

ACCA Salary in India

In India, majority of the ACCA members receive a package equivalent to that of an ICAI member (Indian CA) in companies such as the Big 4 (PwC, EY, Deloitte, KPMG) and MNCs. My initial package as an ACCA fresher was INR 7 lakhs.

However, there are some ACCA members who did not receive similar packages in their first job. It would depend on the employer company’s policies as well.

What are my career options after completing ACCA ?

Career options after ACCA

There are various options available for you once you’re a qualified ACCA member:

  1. Work in a financial or consulting capacity in companies such as the Big 4. This could be to gain experience, or a long term plan if the country you reside in accepts ACCA as the signing authority.
  2. Immediately after your qualification, or post some experience gained, you can start your own business in any field fascinating you. ACCA knowledge and experience would help in many, and unexpected, ways.
  3. Study further. You could opt for a Masters program or something that could further your career.

Your choices can be targeted or various once you secure a valued qualification.

How can I start with the ACCA course?

Get started with ACCA

The process is very simple.

Registration

Have the following documents scanned:

  1. Identification proof (such as passport/ pan card, etc.) scanned
  2. Passport sized photograph
  3. 10th marksheet
  4. 12th mark sheet (not necessary for FIA)

Once you have these ready, it takes 10 minutes to register at www.accaglobal.com.

If you want to enrol at the Foundation in Accountancy (FIA) level, there is an option for the same before you start filling in the application details.

Studying Process

Once registered, you can order the study material and start studying (take up classes or self study). Depending on your timeline, you can register for your exam on the official website.

Practical Experience Process

ACCA also expects 3 years’ work experience in the field of finance. Along with some performance objectives and a professional module to be attempted (you need only plan these once you have decided to enrol for the course).

About ACCA ?

Global CA.
ACCA is the same course as the CA we know about, except that CA contains subjects like tax and law related to the Indian economy, whereas ACCA teaches tax and law of other countries or the global economy.
Subjects like costing and financial management are the same.
The ACCA is recognised all across the world, including MNCs and the Big 4 in India. It does not have signing authority in India.
The prospects after ACCA are the same as that of post-CA completion. You can start working in the field of finance, study further, start your own venture, or anything you wish to do.

What is the initial pay package for ACCA members & Job opportunities ?

In India, majority of the ACCA members receive a package equivalent to that of an ICAI member (Indian CA) in companies such as the Big 4 (PwC, EY, Deloitte, KPMG) and MNCs.

However, there are some ACCA members who do not receive similar packages in their first job. It would depend on the employer company’s policies and the profile as well.

ACCA qualified freshers are generally paid the same salary as that of CAs in companies such as the Big 4 and other MNCs (ranging between Rs. 7 to Rs. 9 lacs).

ACCA affiliates and members in our network have been compensated equivalent to fresher CAs in companies such as PwC, KPMG, Deloitte, EY, Grant Thornton, BDO, Accenture, Tata, FedEx, ICICI, Standard Chartered, JPMorgan Chase, Yes Bank and private companies.

Further, I would suggest ACCAs not opt for Direct or Indirect Tax profiles. Other profiles ranging from Accounting Advisory, IFRS implementation, Audit, Assurance, Transfer Pricing, Mergers and Acquisitions, Internal Audit and Risk Advisory have been offered to ACCAs at salaries equivalent to that of fresher CAs.

ACCA along with BCom/ BAF/ BFM/ BBA/ BBI/ BMS

Yes.

The course can be completed along with BCom if you have the correct timeline structured in place, and the benefits can be reaped at a relatively sooner stage.

With regards to the scope, the qualification is considered as ‘Global CA’, and works in most countries across the world.

Majority of the entire network of ACCAs I know in India are all working in some MNC or the other. However, if you want to practice as a chartered accountant in India, then this would not be the right path for you.

What is the total cost of studying ACCA?

The total cost would be around 1.5 lakhs, which includes registration, exam fees, subscriptions and study material.

The classes fees is Rs. 14,999 per paper (Rs. 17,499 for F5 onwards) in the beginning and increases slightly as the levels increase. The other fees to ACCA would be around 8,000. You can take the average per paper fees as Rs. 25,000 approximately. The total investment from your side over 3 years would be between 3.5-4 lacs (between 3-3.5 if from F5).

 

PAPERS PER PAPER FEES AMOUNT
F1-F4 (4 papers) 12,999 51,999
F5-F9 (5 papers) 17,499 87,499
P1-P7 (5 papers) 21,999 1,09,999
Total (14 papers) 2,49,499
PER PAPER AMOUNT
Study Material 2,000
Exam Fees 10,000
ANNUAL AMOUNT
Registration/Subscription 7,500

Exemptions for ACCA ?

  • CA – F1 to F9
  • US CPA – F1 to F9 (Excluding F7)
  • MCom / BCom / BBI / BAF – F1 to F4
  • IPCC- F1 to F4, F6 & F8
  • CS – F4
  • ACMA/FCMA – F1 to F9 (Excluding F5 & F8)
  • US CMA – F1 to F9 (Excluding F6 & F7)

How difficult are the ACCA examinations?

Level of difficulty of ACCA exams

In the simplest way I can put it, ACCA is application based. This means the students must learn the concepts of the subject, but use the concepts in case scenarios as if they occurred in our practical life. And this is what can prove valuable once you start working.

Accordingly, some students find this in their favour and soar with good results. Some students are better at reading and remembering, and have a difficult time coping up with the examinations.

So I would say it depends on the student.

Does an ACCA have signing authority in India?

Signing authority of ACCA in India

No.

As an ACCA, you would not have signing authority, and consequentially, not sign audit reports and practice audit by setting up your own firm.

However, there are ACCAs working in audit firms in India (including the Big 4) who can work as part of the audit team. The partner signing the audit report must be a member of the ICAI.

Is ACCA a better option than Indian CA (ICAI)?

ACCA vs. CA

If you plan to stay in India, open up and run a CA firm, or become a partner in a CA firm here, then you must opt for Indian CA. The primary reason here is that only members of the ICAI (Indian CA) have signing authority in India. Further, no finance qualification provides you with more knowledge about the Indian economy (Indian tax, Indian Law, etc.) than CA.

ACCA is for students who either have a focused plan to work in a country where ACCA is highly coveted, such as UK, Dubai, Singapore, etc. If the student is looking to gain experience and knowledge in the finance field, then once again, this qualification works.

I worked at PricewaterhouseCoopers as an ACCA in Mumbai. My personal agenda was to earn a qualification which can help me find a job in India, whilst keeping my option of working overseas open. Our entire network of ACCAs in India are working in different companies in India (mostly the Big 4 and MNCs).

So once again, it all depends on your future plans.

What is the difference between ACCA and Indian CA (ICAI)?

Differences between ACCA and Indian CA (ICAI)

acca differences

Seven Differences

Is there an internship requirement for the ACCA course?

Internship

Yes.

The internship requirement is 3 years. This can be pursued before, during or after completing the ACCA exam.

If a student is working in India, he or she would need to have the work experience certified by an ACCA or an Indian CA (ICAI member).

This is similar to the articleship requirement in Indian CA (ICAI).

Duration for completing ACCA & Syllabus ?

ACCA has 14 subjects that must be cleared in order to complete the examinations. The ACCA exams can be completed within a period of 2.5 years approximately. This would entitle the student to the ACCA Affiliate status.

However, this is just 1 of the criteria for completing ACCA. To attain the complete qualification, the student must also have 3 years of relevant practical experience, complete certain objectives (called Performance Objectives, which would most likely be achieved during the 3 years of experience), as well as an Ethics module. All of these can be achieved before/ along with/ after the examinations.

Only if the student completes all of the above in addition to the 14 exams, would he or she be entitled to earning the ACCA membership. Accordingly, the fastest a student can complete the entire qualification is 3 years. However, the ‘Affiliate’ status can be achieved within a shorter timespan.

Signing authority of ACCA in India ?

No.

As an ACCA, you would not have signing authority, and consequentialy, not sign audit reports and practice audit by setting up your own firm.

However, there are ACCAs working in audit firms in India (including the Big 4) who can work as part of the audit team. The partner signing the audit report must be a member of the ICAI.

Internship requirement for ACCA ?

The internship requirement is 3 years. This can be pursued before, during or after completing the ACCA exam.

If a student is working in India, he or she would need to have the work experience certified by an ACCA or an Indian CA (ICAI member).

This is similar to the articleship requirement in Indian CA (ICAI).

What is the overall passing percentage of ACCA in India?

Around 40% at an average, taking all the examinations over the course of the last 10 attempts.
Not quite sure regarding the passing rate in India particularly. At Zell Education, we have a higher than average passing rate (100% for the first few exams).

CA v/s ACCA

Both the courses are valued and reputed.

It depends on your future goals. If you would like to practice (i.e., sign audit reports, etc) in India, or eventually become a partner in any Indian CA entity, then you should go for ICAI (Indian CA).

If you would like to complete your qualification early, gain experience in the field of finance, work overseas (have signing authority in other countries), you should opt for ACCA.