Frequently Asked Questions

About ACCA

What is ACCA?

ACCA (Association of Chartered Certified Accountants), also known as Global CA is the world’s fastest growing accounting professional body. With 188,000 members and 480,000 students, ACCA has established its presence in over 180 countries across the world (such as UK, Singapore, Dubai, Australia, Canada, etc.).

In India, ACCA members have great scope in MNCs such as PwC, EY, KPMG, Deloitte, Grant Thornton, BDO, Accenture, JP Morgan, etc


ACCA is the world’s most progressive and supportive accountancy body driving your career towards even greater opportunity.

The scope of ACCA in India is increasing at an exponential rate.

The advantages of pursuing ACCA are:
- Earn a qualification equivalent to CA
- Complete the course in 2 years
- Pursue it along with your current job or bachelor's degree (BCom, BAF, BFM, etc.)

What is Scope of ACCA in India?

The scope for ACCA in India is growing at a tremendous pace. ACCA members are securing professional jobs all across the countries in companies such as EY, PwC, Deloitte, KPMG, Grant Thornton, BDO, Accenture, McKinsey, Tata, Barclay's, Standard Chartered, etc.

Profiles for ACCA members in India include Accounting Advisory, Risk Advisory, Corproate Finance, Audit and Assurance, Internal Audit, Taxation, Investment Advisory, etc

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

Further, there have been ACCAs from India who have secured jobs overseas in countries such as Australia, Singapore, Canada, Dubai, etc.

What are my Career options after completing ACCA?

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

- 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.
- Secure a professional role overseas in countries such as UK, Singapore, Dubai, Australia, Canada, etc.
- 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.
- 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.

Do ACCA members have signing authority in India?


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.

What is difference between ACCA and Indian CA?

Both the courses are valued and reputed.

Is there an 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).

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).

Eligibility Criteria for ACCA

The eligibility criteria for students vary for each country.

For India, students are eligible if they have completed:

10+2 / India School Certificate / Intermediate Certificate / Higher School Certificate / Higher Secondary Certificate / Pre-University Course/ All India Senior School Certificate/Senior Secondary School Examination

This is providing passes are held in 5 subjects (at least 3 in Year XII) including English and Mathematics / Accounts, mark of 65% in at least 2 subjects and over 50% on the others)
(For the Higher Secondary Certificate the marks are out of 200, so over 130 meets the 65% requirement and over 100 meets the 50% requirement.)
Below is a breakdown of the grades in terms of percentage and actual grade.
50%-60% = Satisfactory = C1
60%-70% = Good = B2
85%+, 80%-85%, 70%-80% = A1–A2, B1
For students having completed Grade 10 or not eligible for the above, they can also commence their ACCA qualification through the Foundation in Accountancy (FIA) route.

For further details about the eligibility criteria, you can contact us at Zell Education and we would be glad to solve all your queries.

How many papers can I give per attempt?

You can appear for 4 exams per attempt, and a total of 8 exams each year.

How often are the ACCA exams held?

F1, F2, F3, F4 are known as on-demand exams. These exams can be attempted at any time of the year.

F5 to P7 exams are conducted 4 times a year (every March, June, September, December).

What is the ACCA Course Structure?

Knowledge Module:
F1 – Accountant in Business
F2 – Management Accounting
F3 – Financial Accounting

Skills Module:
F4 – Corporate and Business Law
F5 – Performance Management
F6 – Taxation
F7 – Financial Reporting
F8 – Audit and Assurance
F9 – Financial Management

Professional Module:
P1 – Strategic Business Leader
P2 – Strategic Business Planning
P3 – Advanced Financial Management
P4 – Advanced Performance Management
P5 – Advanced Taxation
P6 – Advanced Audit and Assurance

What is the passing rate for the ACCA exams?

The average passing rate for ACCA exams globally is 40%.

What is the fee structure for ACCA?

F1 - F4
₹ 70,800*
F5 - F9
₹ 1,03,250*
₹ 1,03,840*

₹ 8,000 per subject
₹ 7,500 one time
₹ 9,000 per year
₹ 800 per subject

#Waived off for 2018

How many Subjects do I have in ACCA?

Total 15 Subjects
Attempt 13 Subjects

What is the duration for completing the ACCA course?

On an average, it takes between 2 to 3 years to complete the ACCA qualification.

Students have completed the entire course in 18 months as well.

What is the salary package for an ACCA in India?

In India, the salary package of a fresher ACCA member ranges between Rs. 6-10 lacs per annum. 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.

About Zell

Why Zell Education?

Zell Education is the only ACCA training institute in Mumbai which is founded by ACCA members.

Our faculty have completed their ACCA exams as well as worked in corporates. As such, we understand ACCA from the studying perspective, the career perspective, as well as the teaching perspective.

We hold our students’ hands right from their registration, all through their coaching and assisting them with placements.

Where are we Located?

Zell Education,
405B, Neelkanth,
Marine Drive, E Road,
Mumbai 400 002.

1 minute walking from Marine Lines station (West)

Our branches in Andheri and Ghatkopar shall be opening soon.

Who are the faculty at Zell Education ?

Our faculty comprise of ACCA qualified members with practical experience in the industry from reputed companies such as KPMG, PwC, EY, Deloitte, etc.

The faculty members are trained through a rigourous process to provide the highest quality of coaching as per Zell Education's standards.

Does Zell Education provide placement assistance?

Yes, we assist our students secure placements in companies after completion of the ACCA qualification in fields such as Accounting Advisory, Risk Advisory, Corproate Finance, Audit and Assurance, Internal Audit, Taxation, Investment Advisory, etc.

We also asssist our students secure inernships in companies which recognize the ACCA qualification in departments such as Internal Audit, Statutory Audit, Corporate Finance, Taxation, etc.

About CFA

How is CFA different from CA or MBA?

 CA focuses more on the accounting aspect – taxation, auditing, preparing financial statements, etc
 MBA is mile wide and inch deep – First year covers general topics and limited no. of special electives in marketing, HR, Finance, etc.
 CFA is mile wide and almost mile deep – it makes you familiar with the theoretical aspects and valuation methodologies of the different asset classes like Equity, Bonds, Futures & Options, and Portfolio Management. The focus is on analyzing the financial statements, instead of preparing it.
These 3 courses are not mutually exclusive and one can pursue one with or after the other. Out of the three, only CFA is accepted globally. One can opt for ACCA (instead of CA), as even that is globally recognized.

What is the least investment I’ll have to make to complete CFA?

Conservatively, it will cost one around 2.35 lakhs (assuming the 2nd deadline is met and accounting for forex volatility). If the fees are paid before the 1st deadline, the cost will be less than 2 lakhs.
Coaching fee is separate.

What is the average no. of attempts required to clear all 3 levels?

It is definitely possible to clear Level 1 in the first attempt. The other 2 levels might require the candidate to take the exam twice, because the level of difficulty goes up.

Is there any limitation on the no. of attempts for each level?

No, there are no limitations. You may keep appearing till you clear the level. We at Zell, will try our best to help you get it right the very first time.

I am in the 2nd year of Graduation. Am I eligible to appear for CFA Level 1 Exams?

No, the CFA guidelines explicitly require the Level 1 Candidate to be in his final year of Graduation. Even though some training centers push you to violate this requirement, we Do Not recommend this. You can however start coaching for Level 2, right after you clear Level 1.

If I clear my Level 1 before I finish my Graduation, when can I appear for Level 2?

You need to complete your graduation (results declared and not awaiting) to register for Level 2 Examinations.

What is the Pass rate?

Out of the total candidates who appear for the exams, around 40% clear level 1 and 2, and 50% clear level 3.

Do we get any exemptions in any of the subjects like in other courses?

No - as all the topics are covered in each of the 2 sessions on the Exam day, no subject is exempted for anyone.

How do I mark the answers in the test?

The question booklet and the answer sheet are separate. You have to fill the option of your choice using a Pencil only. No pens are allowed inside the exam hall for Level 1 and Level 2. You have to perform all the calculations on the Question booklet only and make no other markings on the Answer sheet. There is sufficient space in the question paper to perform the steps. Zell will conduct a mock test using a similar exam-day environment.

I don’t have the passport, should I have it before registering for CFA?

Yes – please have a valid passport before you plan to enroll. The Passport details are to be submitted during the registration process. You compulsorily have to carry it (as an ID Proof) along with the hall ticket on the day of the exam. PAN Cards, Aadhaar card, Driving License, etc.will NOT be accepted. Check the validity date of your passport too.

How do I pay the Fee in USD to the Institute?

You can pay the same using an International Credit or Debit Card. If not, you can approach your local bank for a wire transfer. Zell will help the students with the registration and payment process too. Using the credit/debit card will be cheaper, as the bank will charge some commission to make the wire transfer.

What is the no. of hours required to prepare for Level 1?

On an average a candidate spends around 300 hours to prepare. Zell helps you to cover 150+ hours through classroom sessions and mock tests.

Should I take up a Job after Level 1, or should I pursue Level 2 full time?

We recommend the students to gain some market exposure in any of the financial segments – Mutual funds, Broking, Research, Valuation, etc. Level 2 coaching is mostly conducted during weekends only, so students can utilize the weekdays by accumulating some work experience. Zell aims to place some promising students in their field of interest.

What along with CFA Level 1 or after?

A candidate pursuing CFA Level 1 full-time can also opt for Advanced Excel, Financial Modelling, NISM, NCFM modules that will help them have an edge over similar CFA aspirants. One can pursue an MBA or even Financial Risk Management (FRM).

Is the CFA Recommended Calculator Compulsory – can’t I use the normal one?

Yes, the calculator is an essential part of the Program. Ordinary & Scientific Calculators can’t compute the required values.

What is the annual salary expected after completing CFA Level 1?

The pay package might be close to2.5 -3 lakhs P.A. depending on the Candidate background. As you gain experience and complete the program, the average compensation is around 12 lakhs P.A

I am from a non-commerce background – Can I do CFA?

Yes, many students who do not have prior exposure to commerce related subjects have successfully cleared the entire CFA program. One need not be an expert in Quants, or Accounts, or Economics in order to enroll for the Program. Zell will help you cover the academic divergence.

I am weak at Math – will it be an obstacle?

Math is not the decisive factor to clear the exam. CFA focuses mostly on Time Value of Money and statistical concepts like mean, median, mode, standard deviation, variance, correlation and probability. Most calculations are done using the calculator. Zell will offer you focused attention in any subject, if required.

Can I look for work opportunities abroad?

Yes – As CFA is a globally recognized course, one can definitely look for job opportunities in the country of his choice.

In India, which Companies can I look forward to work with?

You can apply with any of the Investment Banks, Research Firms, Alternative Investment Firms, Mutual Funds, Broking Firms, Commercial banks, Asset Management firms, etc. The list is non-exhaustive.

How can I check if my work experience will be recognized to earn the CFA Charter?

The work profile needs to be in one of the following areas - Evaluating or applying financial, economic, and/or statistical data as part of the investment decision-making process; supervising persons who conduct such activities; or teaching such activities. One can take the work-experience assessment test over here:-
CFA Work Experience Assessment

What are the official test timings in India?

The first session is conducted from 9am to 12pm and the 2nd session conducted from 2pm to 5pm (Total duration of 6 hours test and 2 hours break in between).


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