How to Get A Scholarship for ACCA in 2022-2023
Association of Chartered Certified Accountants, abbreviated as ACCA, is a global Chartered Accountancy course. With this UK-based programme, you can practice accounting in India as well as in foreign countries. ACCA has worldwide acceptance, with more than 180 countries having accredited this accountancy certification.
Hiring trends in companies like Credit Suisse, The Big 4 and Goldman Sachs prove that candidates with ACCA are highly preferred. With this course, you can develop cutting-edge skills and technicalities in the finance and accountancy industry.
Hence, if you are looking to build a career in accountancy, the ACCA course will ensure you have an advantage over others. One of the best things about this course is that you can get an ACCA scholarship for 2023. The next questions that immediately pop up include how to get a scholarship for ACCA or how to apply for an ACCA scholarship, and so on.
In this article, we will discuss ACCA scholarship in detail and the various aspects related to it.
You can also check out our blog Steps to Become an ACCA: Career Prospects, Eligibility, Salary.
About ACCA Scholarship 2023
There is an interesting history behind the ACCA scholarship. Upon her death on 22nd December 1977, Miss Muriel Simpson FCCA left behind a legacy. In the Will, she left her residuary estate to ACCA to fund a scholarship known as the ‘Simpson Scholarship’.
Miss Simpson wanted the Scholarship Fund to be used for funding the higher education and studies of ACCA students who have proved their mettle in the ACCA exams and passed with distinction.
The scholarship fund recognises the dedication and hard work of 5 top students passing ACCA exams every year. The choice of selected candidates is made purely on a merit basis in the ACCA exam.
For 2023 scholarship applications, the opening date is 10th April 2023, Monday.
Eligibility for Applying for The ACCA Scholarship 2023
- You have to be registered as an ACCA student
- You should not have any kind of outstanding fees
- You must have made your fee payment for the year ahead
- In the ACCA Qualification’s Applied Knowledge exams, you should have achieved 80% or more on average right at the first attempt
- In case you have exemptions from appearing in the Applied Knowledge exams, you have to achieve 66% or more in a minimum of two Applied Skills exams, that too at the first attempt.
How to Apply for ACCA Scholarship?
After you check whether you fit into the eligibility criteria, the next step is applying to ACCA. For the application, you will need to write an essay, the topic of which is ‘How the award of a scholarship will help me realise my full potential?’
Innumerable applicants apply for the scholarship and pen down this essay in their way. It is up to the judging panel to select the top 5 winning essays. The judges look for an element of inspiration in the essays. They also try and understand if the applicant needs the scholarship or how it will benefit the candidate.
If you are preparing to apply for the ACCA scholarship in India or anywhere in the world, think about how this scholarship will benefit you and how it will make a difference in your education and eventually your career. Most importantly, the essay must be personal and inspiring at the same time.
Below are certain points you can include in the essay as to how the scholarship will benefit you. Let us take a look at them:
- How the scholarship will contribute to your career.
- How will the scholarship play a role in contributing to the community you live in.
- How the scholarship will be beneficial to your journey to reach ACCA membership.
- How the scholarship will have a positive impact on the accounting profession in your nation.
During submission, your application should be accompanied by a Scholarship submission form, which must include two references. Next, submit an accurately filled-up and completed application for the ACCA scholarship via email at [email protected]. You can also send postal applications, but the ones that come after the closing date will not be accepted. ACCA will not take any responsibility in this matter.
What happens in the next step?
Once you submit your application, you will receive an acknowledgement from ACCA confirming they have received it. In case your application does not meet the submission eligibility criteria, you will also receive a notification regarding that.
The next step is the selection process, which has three stages. Mark the dates and details of the processes for 2023:
- Opening date for the application: 10th April 2023
- Closing date for application receipt: 23rd June 2023
- Selection of five scholarship winners by the judging panel: 11th August 2023
- Announcement of scholarship winners: 25th August 2023
ACCA emails the five scholarship winners via email about their successful application. All winners receive a letter and an information pack with confirmation that they will receive grants from the Simpson Scholarship.
What is included in the ACCA Scholarship 2023?
If you are a successful winner of the ACCA scholarship, the Scholarship Fund will pay a significant part of your fee. This waiver is applicable for a maximum period of 5 years from the award date or until you have become a successful ACCA member, whichever event happens first.
Listed below are the things that ACCA pays as a part of the scholarship:
- Annual student subscription fees
- Examination fees
- Membership admission fee
- The annual affiliate subscription fee
Along with the fee waivers, the scholarship comes with a bonus. All scholarship winners will receive a complete set of learning materials from any one of the ACCA-approved content providers for every ACCA paper they are studying.
Wrapping It Up
Getting the ACCA scholarship 2023 is a matter of great pride, as only five students are selected for the grant. There is a special ACCA scholarship for Indian students if you are an MCom or BCom graduate, along with being a DipIFRS holder. The scholarship worth is approximately Rs 55,000 as you transfer to the ACCA qualification. ACCA scholarships are also available for students from other countries.
With an ACCA certification, you can fast-track your career in the finance and accountancy industry. Zell Education offers an ACCA programme for interested candidates via both classroom and online modes. The course covers three levels (13 papers) spanning 6-24 months.
Zell Education is a Platinum Approved Learning Partner with an 80% pass rate and 100% placement assistance. Online interactive classes conducted by ACCA-qualified faculty ensure a well-rounded understanding. The in-house Learning Management Platform helps you with better learning. Personalised doubt-solving and one-to-one mentorship support guarantee you prepare for the best. Visit Zell Education for more information.
Check our blog on Preparing for the ACCA exam? Ace with these preparation tips to learn more.
Can I get a scholarship for ACCA?
Yes. There is an ACCA scholarship for Indian students as well as for students across the globe. Know about the application process for the scholarship.
Can I do ACCA for free?
The introductory courses of ACCA are free. These courses are suitable for candidates with little or no knowledge of finance and accounting.
Can I get a scholarship for ACCA in the UK?
Yes, you can get an ACCA scholarship in the UK. The scholarship covers ACCA exams and subscription fees for five years or until you become an ACCA member - whichever happens first.
Can I complete ACCA in 3 years?
Yes, you can complete ACCA in 3 years. For that, you will need practical experience of at least three years to become an ACCA member. You will then be considered a qualified accountant.