What Do Parents Need To Know About ACCA?

ACCA is a Globally Recognized Qualification

Are you worried about your kids’ academic future after school life is over? If you want your children to make a career in accounting, encourage them to pursue a professional certificate course, besides their B.Com and M.Com degrees. ACCA is one of the finest accounting certification courses globally recognized and in high demand. If you are still unaware of the certification course, here are some ACCA details to make you familiar with. 

On 30th November 1904, 8 accountants came together to create the Association of Certified Chartered Accountants (ACCA). While the association started in London, UK, today it is recognized in as many as 180 countries globally. With over 2,00,000 members, ACCA now has more than 6,00,000 students worldwide. ACCA now has more than 300 tuition centers across the globe. Though students can study and pursue the course online, these tuition centers help them prepare well and crack the exams with higher scores. 

So, when you have an international certification course within your range, you can always motivate your kids to take it. Once the kid completes the ACCA course and fetches the certification, getting into some top-notch multinational companies gets much easier. 

Even if your kid wishes to practice accountancy, ACCA is a great option to start with. If you stay in a country offering signing authority to ACCA certificate holders, your kids can start an accountancy business soon. 

As a parent, you must have all the details before encouraging your kids toward a particular career option. So, let us be transparent about the career after ACCA. While the course is globally recognized, the ACCA candidates must secure other specific authorizations and licenses also according to the country’s regulations where they wish to pursue their accounting career. 

So, accumulate all these essential details so that your kids do not have to face trouble after they have completed their ACCA course. The certification course is of utmost importance today and leads to a lucrative career opportunity in the accounting field when you follow the norms and regulations of your country. 

Success and Security… Whichever Career Path you Choose

Are you considering whether ACCA can add value in the long term? Yes, it will always offer your kids success and security because of its dynamic features. 

An Updated Version Each Year:

ACCA offers a comprehensive syllabus of innovation, skepticism, commercial awareness, and problem-solving topics. Moreover, the association updates the syllabus every year to keep the curriculum according to the current market standards. 

Digital Approach:

ACCA offers training in digital approaches in the form of Big Data, data analysis, disruptive technology, and cyber security. The world is getting more digitalized with each passing year. So, the association keeps the students updated according to the latest digital approaches. 

Creating Ethical Professionals:

Big brands like Deloitte, PwC, Accenture, and others look for candidates who have knowledge and also are good in ethics. ACCA curriculum consists of an Ethics and Professional Skills module that makes the candidates sound in ethical decision-making. So, ACCA will turn your kids into completely professional individuals. 

Practical Experience:

ACCA requires a professional experience of at least 36 months in a relevant field. Most companies pay out good to such candidates who know along with experience. 

Flexible Learning and Exams:

Candidates who are already working professionals or are pursuing any full-time course can easily manage to pursue the ACCA course because of its flexible learning and exam sessions. So, when you encourage your kids to pursue the ACCA course, your kids understand their regular B.Com degree and ACCA. Your child can easily complete regular degrees and ACCA at the same time. 

Globally Recognized:

We have already discussed this point earlier. ACCA is now globally recognized as they are available in 180 countries in terms of study centers and work freedom. So, if your kid is an ACCA-certified individual, s/he can fetch good job opportunities worldwide. 

Continuous Learning:

ACCA is not just about one-time learning. ACCA updates its curriculum according to the changing market trends each year. So, it offers updated learning to its community members also accordingly.  

Skills for Life

When you go through ACCA details, you will know how it believes in training candidates also with skills that will be beneficial for them in the corporate world and personal life. ACCA curriculum has two sets of skills and these are Strategic Skills and Professional Skills. 

Strategic Skills:

The diverse strategic skills that ACCA trains the candidates in are:

• Corporate and Business Law
• Performance Management
• Taxation
• Financial Reporting
• Audit and Assurance
• Financial Management

Ethics and Professional Skills:

ACCA curriculum also has an additional Ethics and Professional Skills module that trains the candidates in several skills useful for the corporates as well as daily life. Some of these life skills that your kids will learn through ACCA are:

• Leadership
• Efficient Communication
• Critical Analysis and Decision-Making

Start ACCA at your Level

It does not matter whether your kid has just passed Class 12th or is a graduate to pursue ACCA. The minimum qualification for pursuing ACCA is Class 12th with a 65% score. So, ACCA allows candidates to start at any level. In fact, if your kid has higher educational qualifications, s/he gets exemptions in the ACCA exams. 

If your kid has joined ACCA immediately after Class 12th, there will be no exemptions and the student will have to attend all 13 exams. 

If your kid is a Commerce Graduate or has passed a Master’s in Commerce, then ACCA allows such students to get an exemption from the first 4 exams. 

CA-IPCC pass candidates get exemptions from 5 exams. Similarly, ICAI members or candidates who have completed CA certification get exempted from 9 ACCA exams. 

ACCA is best known for offering global exposure and standard training in international accounting. So, even CA candidates can benefit from pursuing ACCA and becoming a member of the ACCA community. 

A Flexible Qualification for Modern Students

ACCA is also one of the most popular certification courses because it is a flexible qualification for modern students. 

Candidates can join ACCA at any level:

As we have discussed earlier, ACCA allows candidates to join the certification course with diverse educational qualifications. The minimum eligibility to pursue the course is a minimum of 65% aggregate in Accounts, Mathematics, and English in Class 12th. However, students with higher educational qualifications such as B.Com, M.Com, CA, and others also enjoy exemptions so they do not have to appear in all 13 exams. 

• Flexible Exam Schedule:

ACCA allows the candidates to take the exams according to their flexibility. The association organizes ACCA exams four times a year to offer convenience to the candidates. So, even if your kid has joined ACCA along with B.Com after Class 12th, s/he can appear for the ACCA exams in March, June, September, or December each year. 

• Exam Passing Duration:

Ideally, ACCA duration is 2 to 3 years excluding the 36 months of working experience. However, it also depends upon how fast the candidates are clearing up the exams of each ACCA level. While there is no specific time limit for passing the ACCA Knowledge Level and ACCA Skills Level, candidates must complete the ACCA Professional Level exam within 7 years from the time of the first Professional Level exam. 

Conclusion

ACCA is one of the most popular accounting certification courses internationally. If you are concerned about your kid’s career in the finance field, ACCA is one of the best solutions to opt for. Parents are in constant dilemma about which course or path will offer stability and security to their kids in the long run. ACCA offers a curriculum that will help the kids learn accounting skills, ethics, and professional skills to gain a lucrative career path and a prosperous life ahead. 

FAQ

At what age do people complete ACCA?
There is no specific age to complete ACCA. Some people start with the course as early as just after completing Class 12th. On the other hand, some other people may start pursuing ACCA in their 30s to gain career growth. However, 27 is the average age when most candidates complete their ACCA certification.

Is ACCA difficult for average students?
The pass rate of ACCA is about 40% to 50%. So, if your kid is an average student, s/he can still pass the exam with proper guidance, preparation, and dedication.

Can ACCA be self-taught?
Yes, candidates can self-learn ACCA with the modules and study materials prescribed by ACCA. However, guidance or a mentor can help in multiple ways such as doubt clearing, practical experience, and feedback on the mock tests. A good coaching center like Zell Education also helps candidates in the recruitment process after the completion of the course.

How many hours should an ACCA student study?
Learning is an individual process. However, when you are preparing for a professional certification exam like ACCA, you must have a proper studying schedule. For ACCA, encourage your kids to study at least hours a week. While you must advise your kids for consistent learning, also allow them to relax their minds to achieve the best results.

Partham Barot is an ACCA-certified professional. showcasing his expertise in finance and accountancy. he’s revolutionising education by focusing on practical, real-world skills. Partham’s achievements underscore his commitment to elevating educational standards and empowering the next generation of professionals.