What is ACCA? Course, Fees & More

What is ACCA? you might ask; The Association of Chartered Certified Accountants popularly know as ACCA is a globally recognized course with over 200,000 members and 600,000 students across 180+ countries. This qualification is considered the largest professional accounting qualification in the world. This course is one of the most prestigious certifications in accounting and is preferred by many students who want to build a successful career abroad.

What do you visualize when you think about accounting and finance careers? A few years ago, accounting meant working under heaps of paper. However, the scenario has drastically changed today. You can say that the finance and accounting sector has come a long way from manual bookkeeping to technology-driven methods. So, to build a career in accounting today, you must choose a dynamic course that matches the evolving accounting field. ACCA is one such professional certification course that trains candidates according to the current market standards and also keeps you updated with the regular changes happening in the industry. 

Before taking a dig at more about careers after ACCA, let us brainstorm a bit about what is ACCA. Eight brilliant accountants came together to form the Association of Chartered Certified Accountants (ACCA) on 30th November 1904 in the UK. While the association started in the UK, it soon gained recognition globally and now it is present in as many as 180 countries worldwide. According to recent records, ACCA has more than 2,00,000 registered community members and more than 6,00,000 registered students.  

In India, ACCA is said to be equivalent to CA and ACCA professionals are hired at the same salary in most companies such as PwC, KPMG, Deloitte, EY, Grant Thornton, and BDO.

What is ACCA Course Eligibility

Once you have decided to pursue the ACCA course, you must know what ACCA course eligibility is and whether you fit in or not. Here are the eligibility criteria that can help you to join the ACCA course.

• The minimum eligibility criteria is to pass Class 12th with at least 50% marks. You must have also scored at least 65% in total of Accounts, English, and Mathematics. 
• In case you do not fulfill the above criteria, you must pursue and complete the Foundation in ACCA Diploma.

What are the ACCA Exemptions?

ACCA offers exemptions to Commerce Graduates, Post Graduate (M.Com) Inter CA Students and CA Qualified. Students who have just cleared their class 12 examinations, do not qualify as per the aforementioned criteria, but are still qualified to register for the ACCA Exam via Foundation in Accountancy (FIA) route. 

Are you now a graduate and regret not joining the ACCA course immediately after completing your Class 12th? You do not have to worry because students with higher educational qualifications get ACCA exemptions.  

So, you should know about the exam exemptions before you join the ACCA course. 

1. Students who have joined the ACCA course just after Class 12th must appear in all the ACCA exams. 

2. However, Commerce Graduates who’ve completed their BCom can gain up to 5 exemptions for their ACCA exams. 

3. Also, CA IPCC candidates get exemptions from 5 ACCA exams. 

4. Even many CA candidates today pursue the ACCA course and they get exemptions from 9 ACCA exams. 

The ACCA course consists of three levels and you have to appear and pass 13 exams to complete the course. These ACCA levels are:

• Foundation Level
• Applied Skills Level
• Professional Level

What are the ACCA Levels?

1. ACCA Foundation Level

This first level of the ACCA course offers basic level knowledge and information in financeand accounting. You have to appear in 3 exams to clear this level to proceed to the next level. 

2. Applied Skills Level

This level is all about strategic skills and other accounting skills. These skills are based on the modules that you have gone through at the Foundation Level. 

3. Professional Level

The final level is the most essential level in the ACCA course. It consists of an extended version of the strategic skills along with the professional skills required in the accounting industry. 

Apart from the study modules, you also must complete a work experience of about 36 months in the relevant field. You can complete this work experience during the course or even after completing all the levels. You can claim the ACCA certification only after clearing all the levels and completing the work experience. 

*The applicant should have passed 5 subjects including English and Mathematics / Accounts, with 65% in at least 2 subjects and over 50% for the rest. 

**A CA Final candidate is eligible to attain additional exemptions if they’ve scored 40 and above marks in their examination for relevant subjects.

You can also check Our Video on ACCA Exemptions 

What are the Subjects in ACCA?

ACCA as a course covers aspects of Chartered Accountancy such as Accounting, Financial Reporting, Auditing, Taxation, Business Finance and Financial Management. ACCA Syllabus has a total of 13 examinations that a candidate must appear for. The 13 exams are split into 3 levels – Knowledge, Skill and Professional.

ACCA has three levels to cross for which you have to pass 13 exams. In total, there are 15 subjects available in the ACCA curriculum. You have to complete all the subjects in the first two levels. However, when you reach the third level, you have the option to select your subjects according to your specialization. The Knowledge Level exams are on-demand exams that can be appeared at any time in the 365 days of the year. The Skill and Professional Level exams are conducted every March, June, September and December.

Thinking about what are the 13 subjects in ACCA? 

Here are the level-wise subjects to go through. 

ACCA Knowledge Level

While Class 12th students have to appear in all the exams, commerce graduates and master’s degree holders get an exemption from appearing in these subject exams. 

• Accountant in Business (AB)
• Management Accounting (MA)
• Financial Accounting (FA)

ACCA Skill Level

CA IPCC candidates get exemptions from the above-level exams and 2 subjects from this level. 

• Corporate and Business Law (LW)
• Performance Management (PM)
• Taxation (TX)
• Financial Reporting (FR)
• Audit and Assurance (AA)
• Financial Management (FM)

ACCA Strategic Professional Level 

CA candidates just have to appear in this level exam to get the ACCA certification and membership. 

Essential

• Strategic Business Reporting (SBR)
• Strategic Business Leader (SBL)

Optional (2 of 4)

• Advanced Financial Management (AFM)
• Advanced Performance Management (APM)
• Advanced Taxation (ATX)
• Advanced Audit and Assurance (AAA)

Ethics and Professional Skills Module

This module helps you gain professional and ethical skills required in real-time work situations.

ACCA Affiliate

To become an ACCA Affiliate member, students are required to complete 36 months of work experience and achieve about nine performance objectives. This experience documentation should be signed by a supervisor.

ACCA Exam Details

ACCA organizes its exam four times a year offering candidates the flexibility to appear in the exam at their convenience. You can appear in the ACCA exams in March, June, September, or December every year. 

Exam patterns for modules at each level will be different. However, there are some common elements that you must remember while understanding ACCA exam details. 

• Each exam has two sections – Section A and Section B
• Section A will have objective-type questions while Section B comprises long pattern questions.
• The exam papers have 100 marks for each module.
• You must secure at least 50% to pass the exam.
• ACCA does not charge negative markings for wrong answers. 

ACCA is not as difficult as CA. However, passing the exam levels can get more difficult than your graduation exams if you do not prepare well for them. The difficulty level increases with each ACCA level. For example, you may not find the Foundation Level very difficult. However, the Skill Level will get tougher than the first level, and so on. Consult a guide to prepare for the ACCA exam well and pass it smoothly. 

Along with the ACCA learning skills, you must also have these many skills for your ACCA course and your accounting career in the future. 

• Mathematics skills
• Accounting skills
• Analytical skills and critical thinking
• Decision Making skills
• Professional ethics
• Creativity
• Global mindset
• Communication skills

Why Should you Pursue ACCA?

One of the major questions that arise in many minds is why should you pursue ACCA when there are so many other accounting and finance courses available in the market. Here are some of the potential answers to this question.

More than CA:

A few years back, CA was the most prestigious accounting course in India. However, you will find now that many CA candidates also pursue the ACCA course. Even so many candidates prefer to choose ACCA over CA today. One of the major reasons is the difficulty level. Reliable sources have claimed that if the ACCA passing rate is 40%, the CA passing rate is just 4%. 

Global Recognition:

So, what is so special about ACCA that even the CA candidates are pursuing the course? One of the prominent reasons is global recognition. Today, ACCA is available in as many as 180 countries worldwide. So, after completing the course, you can either work in a multinational company in your country or can enjoy exposure to other countries.

Promising Career:

Apart from global exposure, another essential reason to pursue ACCA is career growth. Most multinational companies wish to hire candidates with professional qualifications such as ACCA. ACCA candidates are experts in strategic skills and also highly trained in professional skills of communication and leadership, making them a favourite of various big-shot companies globally. 

Decent Salary Package:

It is quite obvious that with career growth, you will start earning a decent salary package. Ambition Box mentioned that the annual salary of an ACCA is Rs. 12 lacs per annum with a few years of experience. This salary keeps on increasing with time and experience.  

A Part of the ACCA Community:

Lastly, you happen to become a part of the reputed ACCA community. The association updates the ACCA members regularly with the latest happenings in the accounting industry. Also, you can discuss and seek advice on various areas from other community members. 

Who Should Pursue the Association of Chartered Certified Accountants Course?

Even though you have the right eligibility to pursue the ACCA course, you may not have enough reasons to do so. It is essential to understand that the ACCA course is exactly for whom. 

Education Qualifications:

If you have the educational eligibility required for the course, you are always welcome to pursue the course. However, you can either start immediately after Class 12th or can pursue the course after graduation and even after completing your CA program. 

An Interest in Accounting:

The ACCA course is all about accounting in finance. So, you must have a keen interest in the accounting field to pursue the ACCA course. 

Working Professionals:

The ACCA course demands you to complete work experience of 36 months along with the learning modules. So, if you already have work experience in accounting and finance, you can always pursue the ACCA course for career growth. 

What are the Job Opportunities for ACCA?

The accounting industry offers ample job opportunities to ACCA members globally. Also, today ACCA candidates are very much in demand because of their dynamic training and updated skills. So, what are the job opportunities for ACCA? Here is a list of the most popular job opportunities that one can get after completing the ACCA course. 

• Management Accountant
• Credit Controller
• Tax Specialist
• Forensic Accountant
• Auditor
• Financial Accountant
• Finance Manager
• Corporate Treasurer
• Chief Financial Officer

Scope of ACCA in India

If you are pursuing the ACCA course in India, you will find great career opportunities in various multinational companies working in India. Here are some best career opportunities that you can have in India after ACCA. The scope of ACCA in India has been increasing tremendously over the last few years. Candidates who’ve successfully completed their ACCA certificate and gained professional skills are hired by the best of companies such as PwC, Deloitte, KPMG, EY, Grant Thornton, and BDO.

They are hired in various profiles such as Accounting Advisory, Risk Advisory, Statutory Audit, Internal Audit, Forensic Auditing, Mergers & Acquisitions, Valuations, and more. The ACCA salary (₹5 to 8 lacs) is the same as CAs, just with the same profile.

• Accounting and Reporting
• Financial Accounting
• Business Valuation
• Tax Consulting
• Treasury & Cash Management

Companies such as TATA, Deloitte, and many more in India pay ACCA almost equivalent salary packages to CA. You can get good salary packages in these companies based on your skills, experience, and your interview. 

Apart from joining a suitable company in different job positions, you can even join different coaching centres in India as ACCA faculty. Many ACCA candidates today prefer to start a fresh career as an ACCA learning partner with a standard institute after retiring from their actual jobs. 

We at Zell Education, have placed hundreds of students in various companies across India, in Mumbai and Delhi and Pune. Simultaneously, we are in contact with thousands of ACCAs across India placed in prestigious corporations in all departments.

Scope of ACCA Overseas

ACCAs are hired across the world in 180+ countries. For students studying in India, the most popular countries are the UK, Canada, Australia, Singapore, and Dubai. ACCAs have signing authority in the majority of these countries.

ACCA Salary in India & World Wide

ACCA candidates in India and worldwide pocket a good salary package from the start of their careers. Here is an overview of the ACCA salary in India & worldwide.  

India: Rs. 7 lacs – 19 lacs

UK: GBP 39,000 – 68,200

Hong Kong: KHD 17,4000 – 31, 900 

UAE: AED 60,000 – 2,40,000

Which Countries Have ACCA Signing Authority?

Currently, ACCA is available worldwide. However, ACCA candidates do not have signing authorities all over the world. So, which countries have ACCA signing authority till now? Here is a list of popular countries where you can practice ACCA. 

• United Kingdom and Ireland
• European Economic Area, Switzerland, and the European Union
• Turkey
• United States
• Canada
• Australia
• CA ANZ Strategic Alliance
• New Zealand
• Caribbean
• Sout6h and Central America
• Kenya
• Namibia
• South Africa
• Zimbabwe
• China
• HongKong
• India
• Macau
• Malaysia
• Nepal
• Pakistan
• Singapore
• Taiwan
• United Arab Emirates

What is the ACCA Course Fees?

The very first thing that you must do is to register for the ACCA course with an initial fee of Rs. 7625. Next, you must pay an annual subscription of Rs. 10,000, which you have to pay every year till the completion of the course. 

Registration and Subscription Fees

Initial registration: £30

A one-time fee that students must pay when registering with ACCA.

Re-registration: £30

ACCA students who fail to pay fees when due will have their names removed from the ACCA register and must pay a re-registration fee (plus any unpaid fees) to be reinstated as a student.

Annual subscription 2024: £134

An annual subscription fee is due each year to keep your student status active.

Exemption Fees

An exemption fee is charged for each ACCA exam you are awarded exemption from.

Applied Knowledge Exams: £84

The fee is chargeable per exemption awarded.

Applied Skills Exams: £111

Apart from this basic fee structure, you also may have to pay exemption fees if you take exam exemptions. The exemption charges are different for different papers. So, you must contact a professional guide or coaching centre to assist you with exactly what ACCA course fee and other charges are. 

Interesting Facts on ACCA Subscription 

These subscription charges may, however, differ based on your current status. If you are an affiliate, which means if you’ve passed the ACCA exams and the ethics module, but haven’t completed your mandatory work experience you must pay an annual fee of £135. You can then hold ACCA affiliate status for almost three years. After that, if you wish to extend your affiliate status you will be required to pay an annual fees of £270.

Interesting Facts on ACCA Membership

Once you’ve completed all your papers, ethics module and mandatory work experience, you can apply for a full time membership of  £270.

ACCA Coaching Fees

To make your ACCA degree truly count, you need a coaching institute that is known for this course throughout the globe. For this, you need to look for a platinum approved learning partner that ensures that your learning journey is a seamless one. Zell Education is a platinum approved coaching provider for ACCA that’s trusted by a thousands of students in India and abroad.

Due to Zell’s Platinum ALP status, you are entitled to exemption waivers of

Subjects: ₹1,00,000

Registration: ₹8,000

Subscription: £112

Here’s how much Zell’s coaching fee will cost you.

Our Expert Faculty

Contact details: You can reach out to the experts at Zell Education through this number +91 90046 92555.

Head office address: 602, Eco Space IT Park New Nagardas Road Mogra Village, Mogra Pada, Natwar Nagar, Jogeshwari East, Maharashtra

The ACCA qualification is recognized in over 180 countries including Canada, Singapore, and Australia. If you’ve made the decision to become a global CA and are contemplating your next move, we can help you take a step forward. Check out our Association of Chartered Certified Accountants (ACCA) course to learn more.

FAQs

What is the registration process for ACCA 2024?
You have to complete the registration process on the official website of ACCA Global. Create your account on the website and proceed with the registration payment and subscription payment. Contact a professional coaching centre such as Zell to help you well with the process.

What is the eligibility criteria for ACCA?
To qualify for ACCA course, you should be of 18 years of age and should have completed your 10+2 with 65% average score in Math and 50% average in English.

Can I pass ACCA in my first attempt?
Experts mention that about 40% to 50% of candidates pass the ACCA exams in the first attempt. Moreover, if you are dedicated and act according to proper study strategies, you can always clear your ACCA levels on the first attempt.

How many exemptions can one get for ACCA exams?
As per the official website of ACCA global, a maximum of nine Applied Knowledge and Applied Skills exams of the ACCA Qualification can be awarded. However, there are no exemptions awarded for the Strategic Professional Exams

How much does ACCA certification cost?
Several factors impact the ACCA certification cost. However, it may range between Rs. 50,000 to Rs. 2,50,000 depending upon the exemptions you are taking and other factors.

Can a student take multiple exams at once?
Yes, students can take multiple exams at once. However, once you have reached the Professional Level, you have seven years to clear all the exams.

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.