What is ACCA Course in India? | Scope | Fees | Duration

by Eduyush Team

What is ACCA Course?

ACCA stands for The Association of Chartered Certified Accountants. Founded in 1904, now has 230,000 members, with an even greater number studying for its exams. It has a strong presence internationally. As a result of the 1974 Royal Charter, "Chartered" is the term used in the Qualifications. Members are required to describe themselves as Chartered Certified Accountants

The Association of Authorized Public Accountants (AAPA), a British professional body for public accountants, has been a subsidiary of ACCA since 1996.

The vision is to be a globally recognised, innovative professional body that promotes, develops and supports its members so they can succeed in building prosperous organizations and contributing to society.

The accounting qualification is widely recognised and highly respected by employers globally, and can help you build a successful career in accounting and finance. It gives you the skills and knowledge you need to succeed, and provides opportunities to gain practical experience while pursuing the course.

Why ACCA Course?

There are many reasons why people choose to pursue the qualification. 

  • It is globally recognised in over 180 countries with 200,000 members and over 500,000 students.
  • ACCA's partnerships with organisations such as NASBA, AICPA, CPA Australia, IFAC and IESBA help open up doors for students and members worldwide.
  •  It is a comprehensive qualification covering all aspects of international accountancy and finance to prepare you for a wide range of roles in becoming a CFO.
  • There are 13 exams to complete, which gives you plenty of choices when deciding what kind of finance roles you want to specialise in
  • Finally, becoming a member gives you additional status and recognition within the profession.

    Who should pursue ACCA? 

    The Qualification is suitable for anyone who wants to pursue a career in accounting or finance. It is especially beneficial for those who want to work in a global environment, as employers recognise and respect the Qualification. The eligibility requirements are completion of high school (or equivalent) with a score of 65% in subjects including English and Maths or Accounts.

    ACCA Course details in India

    How many levels are there?

    There are three levels: 

    1) Applied Knowledge
    2) Applied Skills, and 
    3) Strategic Professional

    What are the names of all 14 papers? 

    The three levels categorize the 14 course subjects in three levels as under

    Applied Knowledge (completion: six to nine months, estimated cost INR 47,000)

    The Applied Knowledge exams provide students with a broad introduction to the world of finance and develop their essential understanding and techniques in accounting. These exams are designed to prepare for the Applied Skills level. These exams are:

    1) Business and Technology (BT) 
    2) Financial Accounting (FA)
    3) Management Accounting (MA)

    Break up of Estimated cost: Total 47K INR (Exam fees INR 25K + BPP online course with books INR 22K)

    Applied Skills (completion: 15 months to 24 months, estimated cost INR 123,000)

    Applied Skills exams develop strong, broad, practical finance skills required of future strategic professional accountants in any sector or industry. The exams include various question types, including multiple-choice and application, to ensure you are equipped for the real world of accounting. These exams are: 
    4) Corporate and Business Law (LW)
    5) Performance Management (PM)
    6) Taxation (TX)
    7) Financial Reporting (FR)
    8) Audit and Assurance (AA)
    9) Financial Management (FM)

    Break up of Estimated cost: Total 123K INR (Exam fees INR 78K + BPP online course with books INR 45K).

    Students can also opt-in for the Oxford Brookes BSc degree in Applied Accounting post completion of the Applied skills level. Read our blog to see how you can benefit.

    Strategic Professional (completion: 12 months to 18 months, estimated cost INR 105,000)

    The Strategic Professional level exams develop your unique blend of technical, ethical and professional skills. You can specialise in areas that best suit your career ambitions. These exams are:

    Essentials

    10) Strategic Business Reporting (SBR)
    11) Strategic Business Leader (SBL)

     

    12 & 13 are Options (any two)

    Break up of Estimated cost: Total 105K INR (Exam fees INR 73K + BPP online course with books INR 32K)

    Students who have cleared the CA do enrol from the Strategic professional level. Read our detailed analysis on ACCA after CA here

    14) Ethics and Professional Skills Module - students should have successfully completed this module before they are awarded the qualification. Estimated cost INR 7,000

    The Applied Knowledge exams are on-demand. The Applied Skills and Strategic Professional exams are held every March, June, September and December.

    What will be the total ACCA course fees in India?

    The total cost of doing the qualification can vary depending on the country you study and your starting level. 

    Generally speaking, the cost will include 

    • Initial registration and exemption fees
    • Tuition and registration fees
    • Study materials
    • Exams and assessment fees

    The costs will vary if you get exemptions from certain subjects. Exemptions help save time and effort in taking exams. If you are eligible for exemptions, you may need to pay exemption fees in place of exam fees. An approved partner can help save you costs on the exemption fees.

    The tables below give you an estimate of costs from your starting point for India.

    Estimated Course fees after 12th:  INR 310K 

     Costs Knowledge Applied Skills Strategic Professional
    Initial registration and exemption fees 3K - -
    Tuitions and study materials 22K 45K 32K
    Exams and assessment fees 25K 78K 73K
    Other Fees 12K 12K 19K
    Total 62K 123K 124K

     

    Estimated course fees after B.com​ : INR 251K

     Costs Applied Skills Strategic Professional
    Initial registration and exemption fees 9K -
    Tuitions and study materials 38K 32K
    Exams and assessment fees 68K 73K
    Other Fees 12K 19K
    Total 127K 124K

     

    Estimated course fees after IPCC : INR 207K

     Costs Applied Skills Strategic Professional
    Initial registration and exemption fees 9K -
    Tuitions and study materials 22K 32K
    Exams and assessment fees 40K 73K
    Other Fees 12K 19K
    Total 83K 124K

     

    Estimated course fees after CA : INR 145K

     Costs Strategic Professional
    Initial registration and exemption fees 21K
    Tuitions and study materials 32K
    Exams and assessment fees 73K
    Other Fees 19K
    Total 145K

    * the exam and assessment fees and tuition fees has been assumed that you will pass the exams in one attempt. 

    How hard is it to complete the course?

    Completing the course can be challenging, with a pass rate of less than 50%. However, this does not mean that it is impossible to pass. With the right amount of dedication and hard work, it is possible to succeed in this program.

    It requires a lot of self-discipline and commitment; you'll need to be able to stick to a study schedule, go through the entire syllabus and keep up with the reading and problem sets. Additionally, the topics covered can be pretty challenging, so you'll need to be prepared to work hard and understand the concepts.

    There are a few things that you can do to increase your chances of passing the course:

    1. Ensure you fully understand the material covered in each section.
    2. Attempt as many practice questions as possible to get familiar with the format and style of the computer based exam.
    3. Seek guidance from a qualified tutor who can help you better prepare for the exam.
    4. Read all technical articles. These are written by the examination team staff.

    If you're willing to put in the time and effort, you can complete the course.

    What are the opportunities after completing the Qualification?

    After completing your qualification, you will be in high demand by employers looking for qualified accountants. ACCA-certified accountants typically enjoy excellent salaries and job prospects.

    You may find work in several different settings, such as public accounting firms, private industry, government agencies, nonprofit organizations, or education institutions. No matter where you work, you can be sure that your skills will be in high demand.

    The average starting salary in India is approximately INR 7 lacs to INR 10 lacs, while the average salary in the UK is £34,000 (US$44,000). But with work experience and additional certifications, your earning potential is limitless. Employers often reward certified employees in more than one area with higher salaries and better benefits packages.

    It's a much better idea to pair your qualification with a skill certification in demand. This can push your salaries up further by an average of 20%

    Many qualified students ultimately pursue roles as Chief Financial Officers (CFOs) or finance directors. Salaries for these positions can be very lucrative, and the function can be highly challenging and rewarding. Other popular career options include working as a consultant or in corporate finance. Whatever path you take, your qualification will open up a world of opportunities for you.

    How long is the ACCA course duration?

    There is no one definitive answer to this question as the time required to complete can vary depending on a number of factors, including previous qualifications and job commitments. However, most people tend to take between 2-4 years to become fully qualified.

    One of the significant benefits of taking the course is that it can be done alongside working full-time. This means that you can gain valuable experience in your chosen field while studying for your exams. Job stability is also essential when progressing through the different stages of the course, as having a consistent income will help you focus on your studies and provide financial strength.

    Summary

    ACCA is a globally recognised qualification that offers accountants the opportunity to develop their skillset and knowledge. The exams are rigorous, but with the right training and support, you can pass them and achieve your career goals. Eduyush offers a range of courses and support services to help you prepare for the exams. Speak to one of our counsellors today to find out more about how we can help you enrol on a course and start your journey towards becoming a qualified accountant.


    Questions? Answers.

    No, not at all. If you're proficient in the key subjects, then getting a high percentage means very little. The focus should be on becoming knowledgeable and skilled in the core areas of accounting, taxation and finance. Passing exams is simply a formality.

    That being said, a high score still looks good on paper and may open doors when applying for jobs. But ultimately, it's your understanding of the material that will matter most in your career.

    The answer to this lies on your context and individual career objectives.

    Read our detailed analysis on this topic here.

    If you complete the Qualification, you can use the designation 'Chartered Certified Accountant' (ACCA or FCCA).

    The ACCA (Association of Chartered Certified Accountants) membership provides numerous benefits, including:

    - Professional development opportunities, such as access to the latest technical resources, CPD modules and e-learning tools
    - A global community of like-minded professionals to collaborate and share knowledge with
    - The ability to connect with employers through the ACCA Jobs service
    - Eligibility for reduced rates on a range of products and services, such as insurance, stationery and more

    FCCA stands for Fellowship of the Association of Chartered Certified Accountants. To become a Fellow, members must have five years of professional experience and meet continuing professional development requirements. FCCA members can use the post-nominal letters FCMA(UK) or FCCA(Cy).

    FCCA is a prestigious title that certified accountants can use to demonstrate their experience and professionalism. It may also help them command higher salaries and progress within their chosen organisations.

    The consequences of non-payment of the annual subscription fees are

    As a member:

    1) you can't call yourself an ACCA member, and you won't be able to use the ACCA name or logo. 

    2) You also won't be able to use any resources, including the online resources. 

    3) if you're working as an accountant, you may be unable to use the term "ACCA-qualified" or "ACCA-registered". 

    4) If your membership expires and isn't renewed within three years. In that case, your name will be removed from the Register of Members.

    5) If you need to apply for CPA accreditation with another accounting body like CPA Australia or Canada, you will be required to furnish a good standing certificate from ACCA for five years. If you haven't paid your membership fees, you won't be able to get your good standing letter

    As a student

    1) You will not be able to use the members' website or log into MyACCA. You will lose access to many resources, including past exam papers and helpful articles. 

    2) You will no longer be eligible to sit the examinations or progress through the qualification.

    3) You won't be able to pursue any other qualifications like the DIPIFR

    If this is something that happens accidentally, then it is usually quickly resolved by simply paying the outstanding amount of 89 GBP.

    If you're looking to become a chartered accountant in the United States, the value of the ACCA qualification cannot be understated.

    To be accepted into one of the regional accountancy bodies that confer chartered status (such as the AICPA), you must have completed an accredited course of study from a college or university and have spent at least two years working in the accounting field.

    The Association of Chartered Certified Accountants is globally recognized as one of the leading institutions for providing such accredited courses, and their stamp of approval on your degree will go a long way in getting your foot in the door with some of the top accounting firms in America.

    It is a difficult question because it depends on your specific situation and goals.

    However, in general, we would say that the CA (Chartered Accountant) certification is better for those interested in pursuing a career in accounting and finance.

    In comparison, the CFA (Certified Financial Analyst) certification is better for those interested in investment banking or portfolio management.

    The ACCA (Association of Chartered Certified Accountants) certification is more internationally recognized than the CA or CFA, so it may be worth considering if you're interested in working abroad.

    Ultimately, though, the best way to decide which certification is proper for you is to speak with experts in each field and get their advice.