What are the 13 ACCA Papers and Exemptions

Key Takeaways

• The ACCA qualification consists of 13 exams divided into three distinct levels.
• These ACCA papers introduce the basic principles of accounting, finance, and business
• Depending on academic qualifications, you may be eligible for up to 9 ACCA exemptions.

Comprehensive Summary: ACCA Papers and Exemptions

• Structure of ACCA: The ACCA qualification comprises 13 papers divided between the Applied Knowledge, Skills and Strategic levels.
• Applied Knowledge Papers: The Applied Knowledge level is about the BT, MA and FA core accounting and business topics.
• Applied Skills Papers: Applied Skills papers build expertise in taxation, audit, reporting, law and financial management.
• Strategic Professional Papers: At Strategic Professional level you will study a number of compulsory ‘essentials’ papers and also select advanced specialisation papers.
• ACCA Exemption Eligibility: Graduates and professionals receive exemptions depending upon previous academic qualifications and subjects studied.
• ACCA Exemption Fees: Exemption fees range between £86 and £114 per exempted ACCA paper globally.

The Association of Chartered Certified Accountants is an internationally recognised qualification in accounting which opens the doors wide for finance and accounting career opportunities. Those candidates interested in achieving the ACCA designation must pass the ACCA exams. 

These exams cover a range of topics related to accounting and finance. This article will deal with 13 ACCA papers, exemptions available for several qualifications, and the process of claiming these ACCA exemptions.

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What Are the 13 ACCA Papers?

The ACCA (Association of Chartered Certified Accountants) qualification requires passing a maximum of 13 exams. These papers are divided into three levels: Applied Knowledge (basic concepts), Applied Skills (technical application), and Strategic Professional (advanced management and leadership).

Applied Knowledge Level

The ACCA qualification starts from the Applied Knowledge level. It teaches beginners the basic business and finance techniques.

Applied Skills Level

The Applied Skills level is the second stage of the ACCA qualification. It bridges foundational knowledge with strategic professional skills by teaching practical finance and business techniques.

Strategic Professional Level

The ACCA Strategic Professional level focuses on advanced accounting, leadership and strategic decision-making skills. It completes the qualification and is vital for mastering real-world financial management and business strategy. At this level, students can choose optional papers based on their specialisation in their careers in the ACCA paper list.

What Are ACCA Exemptions?

ACCA exemptions provide an opportunity to skip certain examinations based on prior qualifications. Exemptions granted by ACCA, therefore, take into consideration knowledge and skills acquired through other forms of education and professional activities. Allowing an individual to have a relatively short journey of becoming an ACCA member.

ACCA Exam Details

The ACCA examination is a computer-based examination that the institute conducts four times a year. Each setting varies in duration, usually lasting between two to four hours. The examinations are based on a candidate’s knowledge and ability as well as the application of these notions to real-world applications.

Before deciding to take the ACCA exemption exams, one needs to focus on some factors:

• Students should claim an exemption if they have recently achieved the required qualification or are working in a similar field
• To decide on the exemption exam, one should go through the previous ACCA papers and answer them
• Another consideration is the cost, which includes  ACCA exam course fees and other charges
• Time is also a crucial factor to be considered

ACCA Exemptions for Various Qualifications

ACCA offers up to 9 paper exemptions out of 13 total exams based on your prior academic or professional qualifications.

Visit Exemptions information for students by ACCA Global to know more about ACCA exemptions for various qualifications

ACCA Exemptions for B.Com

Graduates with a Bachelor of Commerce (B.Com) degree can claim exemptions for up to nine papers, depending on the subjects covered in their undergraduate studies. Typically, in ACCA exemptions for BCom, BCom graduates are exempt from the Applied Knowledge level and some examinations for the Applied Skills level.

ACCA Exemption for CA

Chartered Accountants (CA) can obtain significant exemptions due to the overlap in syllabus content. Qualified CAs can get exemptions for up to nine papers, covering the Applied Knowledge and Applied Skills levels.

ACCA Exemption for CA Inter

Candidates who have completed the CA Inter (Intermediate) level can claim exemptions for up to five papers, including those from the Applied Knowledge and a few from the Applied Skills levels.

ACCA Exemption for CA-Qualified

Fully qualified CAs are eligible for exemptions from nine ACCA papers list, including all Applied Knowledge and Applied Skills papers. This reduces the number of papers they need to pass to complete the ACCA qualification significantly.

ACCA Exemption for MBA

Plenty of MBA graduates, depending on their specialisation, may be eligible for exemptions from certain ACCA papers list. Typically, exemptions are granted for papers in the Applied Knowledge level and sometimes in the Applied Skills level if the MBA covers relevant accounting and finance subjects.

ACCA Exemptions for CMA

Certified Management Accountants (CMA) can claim exemptions for up to nine papers. The extent of the exemptions depends on the content and level of the CMA certification, covering primarily the Applied Knowledge and Applied Skills levels.

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ACCA Exemption Fee Breakdown

ACCA charges a fee for each exemption claimed. The total cost varies depending on the level of the paper for which the exemption is sought. Please check the current fee structure on the ACCA website since it is subject to change.

Additional ACCA Exemption Details

The ACCA exemption fee is divided into qualification level and paper category. Knowing the ACCA total papers and ACCA paper list will help students to plan for exemptions, costs and overall ACCA journey efficiently.

ACCA Exemption Calculator: How to Check Your Eligibility

Check your ACCA exemptions instantly using the official ACCA Exemptions Calculator. Enter your specific university or awarding body, your degree title and your graduation year to see which papers you qualify to skip.

1. Go to Official Tool: Head directly to the ACCA Exemptions Calculator page.
2. Provide Your Educational Details: Select your country (e.g. India), Institution/university and specific course or degree (e.g. B. Com, CA Inter or MBA Finance).
3. Your year of graduation:  Enter the year you graduated or last actively studied for your qualification
4. See Your Results: The tool will instantly generate a list of the ACCA exams that you can exemptions from.

How Can You Apply For ACCA Course Exemption?

Applying for exemptions for the ACCA course involves the following:

• Check Eligibility: Check the list of exemptions on the ACCA website to see which ones you qualify for. You can use the ACCA exemption calculator available on the ACCA website.

• Submit Documents: Attach a transcript and certificate to prove your credentials.

• Pay ACCA Exemption Fees: Pay the ACCA exemption fees based on the fee structure provided by the ACCA.

• Confirmation: Wait for confirmation from ACCA on the exemptions received.

Visit the official ACCA Website to collect information on exemptions for ACCA students.

Why Does the ACCA Institute Provide Exemptions?

ACCA exemptions are designed to acknowledge prior learning and experience, hence saving candidates from redundancy in their study process. This speeds up their move towards becoming an ACCA-certified individual, and the candidate only focuses on new areas of knowledge.

Types of ACCA Exemptions

There are two main types of ACCA exemptions:

1. Academic Exemptions: These are exemptions through academic qualifications like degrees and diplomas.
2. Professional Exemptions: Based on professional qualifications like CA, CMA, and MBA.

Benefits of Obtaining ACCA Exemptions

Knowing what ACCA is and the career benefits early on can help you get exemptions under ACCA which reduces exam load, saves time and speeds up qualification.

• Time Saving: Reduces the number of exams you need to sit to obtain the ACCA qualification.
• Cost Effective: It reduces the total cost by reducing the examination fees and study material charges.
• Focus: Lets candidates concentrate on advanced papers that add value to their knowledge and skills.

When You Cannot Claim an Exemption

Exemptions cannot be claimed if:

• The qualification is not recognised by ACCA.
• The relevant subjects or content were not covered in the previous qualification.
• There is insufficient documentary evidence to support the exemption claim.

Common Misconceptions About ACCA Exemptions

• “Exemptions reduce the value of the ACCA qualification.” Exemptions are granted based on rigorous assessment and do not compromise the qualification’s integrity.
• “All professional qualifications automatically grant exemptions.” Not all qualifications qualify for exemptions; they must meet ACCA’s criteria.
• “Exemptions mean skipping important knowledge.” Exemptions are given only in places where prior knowledge is well proved, so no critical content is being missed.

Conclusion

The ACCA certification is one of the most known certifications in the field of accounting and finance. The 13 ACCA papers list and exemptions available can make a huge difference to your study plan and career path. You can speed up your journey to becoming a certified ACCA professional by using exemptions.

FAQs on ACCA Papers & Exemptions

How many papers are there in the entire ACCA qualification?

ACCA qualification consists of thirteen papers across three progressive levels.

What exactly are ACCA exemptions, and how do they work?

ACCA exemptions allow candidates to skip papers based on prior qualifications.

How many papers can I get exemptions for in ACCA?

Candidates can receive up to nine ACCA paper exemptions depending qualification.

Are there specific exemptions available for B.Com graduates?

B.Com graduates typically receive exemptions in Applied Knowledge level papers.

Which ACCA papers are the most difficult to pass?

Strategic Professional level papers are generally considered most difficult to pass.

Do coaching institutes like Zell Education help with ACCA exemptions?

Coaching institutes like Zell Education guide students in understanding and applying for ACCA exemptions.

Current Role

Co-Founder & CEO at Zell Education

Education

• ACCA – Association of Chartered Certified Accountants, Finance (2011 – 2014)
• Bachelor of Commerce (BCom), Financial Markets from H.R. College Of Commerce & Economics (2010 – 2013)

Location

Mumbai, India

Expertise

ACCA Certified