What is ACCA? Course details, career scope, fees & duration

by Eduyush Team

What is ACCA?

The Association of Chartered Certified Accountants (ACCA), 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 ACCA qualifications. Members of the ACCA are required to describe themselves as Chartered Certified Accountants. An ACCA must hold a practising certificate, carry liability insurance, and submit to inspections to perform public practice engagements.

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

ACCA's 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 ACCA 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 ACCA Qualification.

  • 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 to open up doors for ACCA students and members around the world.
  •  It's is a very comprehensive qualification that covers all aspects of accounting and finance, to prepare you for a wide range of roles in the journey to becoming a CFO.
  • There are 14 papers to complete which gives you plenty of choice when deciding what kind of finance roles you want to specialise in
  • Finally, the ACCA Qualification can lead to professional membership of ACCA, giving you additional status and recognition within the profession.

Who should pursue ACCA? 

The ACCA 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.

How many levels are in ACCA?

There are three levels in ACCA: 

1) Applied Knowledge

2) Applied Skills, and 

3) Strategic Professional

What are the names of all 14 ACCA papers? 

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

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

The ACCA 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 (ACCA 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 and practical finance skills required of future strategic professional accountants in any sector or industry. The exams include a variety of 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 (ACCA Exam fees INR 78K + BPP online course with books INR 45K)

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 (ACCA 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 ACCA qualification. estimated cost INR 7,000

How hard is it to complete the ACCA course?

Completing the ACCA course can be tough, 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 and keep up with the reading and problem sets. Additionally, the topics covered can be quite 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 ACCA 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.

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

What are the opportunities after completing ACCA Qualification?

After completing your ACCA 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 for an ACCA-certified accountant 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 ACCA qualification with a skill certification in demand. This can push your salaries up further by an average of 20%

Many ACCA-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 ACCA qualification will open up a world of opportunities for you.

What will be the total ACCA course fees?

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

Generally speaking, the cost of ACCA 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 to ACCA in place of exam fees. An ACCA 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 Cost of ACCA 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 ACCA Fees 12K 12K 19K
Total 62K 123K 124K

 

Estimated Cost of ACCA 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 ACCA Fees 12K 19K
Total 127K 124K

 

Estimated Cost of ACCA 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 ACCA Fees 12K 19K
Total 83K 124K

 

Estimated Cost of ACCA after CA : INR 145K

 Costs Strategic Professional
Initial registration and exemption fees 21K
Tuitions and study materials 32K
Exams and assessment fees 73K
Other ACCA 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 long does it take to generally complete ACCA?

There is no one definitive answer to this question as the time required to complete the ACCA 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 ACCA 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 ACCA, 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 ACCA exams. Speak to one of our counsellors today to find out more about how we can help you enrol on an ACCA course and start your journey towards becoming a qualified accountant.


What is ACCA. Questions? Answers.

No, not at all. If you're proficient in the key subjects that ACCA covers, 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.

Exams at the Applied knowledge level are on-demand exams. You can schedule them by booking them at an ACCA exam centre.

All other exams are held quarterly, in March, June, September and December.

The overall cost of studying ACCA online will depend on the education provider you choose. Eduyush, for example, offers a flexible, affordable and well-recognized BPP training program that helps students prepare for the ACCA exams.

The average cost per ACCA subject for BPP training ranges between INR 4,800 to INR 5,500 (GBP 55)

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 ACCA 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 ACCA 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 with ACCA 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.

The best place to buy ACCA books is at Eduyush.com. You get the option of both ebook and paperback. At Eduyush, you can find all the required study materials for ACCA exams, including textbooks, revision kits and ACCA online training. They offer competitive prices and excellent customer service. Plus, you can get discounts on bundles of products and free shipping in India.

Start your preparation for the ACCA exams today!

If you complete the ACCA Qualification, you can use the designation 'Chartered Certified Accountant' (ACCA or FCCA). ACCA is a globally recognised professional qualification that will open doors to many career opportunities.

It is good to study ACCA in both Dubai and the UK as they are both global centres for finance and accounting. In addition, both countries offer a wide range of resources and support to help you succeed in your studies.

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 (ACCA) 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.

The syllabus for ACCA and CA are not precisely the same, but there are a lot of similarities. Both qualifications focus on financial reporting, taxation, auditing, and business skills. However, the ACCA qualification is slightly broader than the CA qualification.

The ACCA qualification is also internationally recognised, while the CA qualification is recognised in India and a few other countries. So if you're looking to work as an accountant in a country that's not India, then the ACCA qualification would be a better choice.

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

Read our detailed analysis on this topic here.

The Association of Chartered Certified Accountants (ACCA) is the global professional accountancy body. It was founded in London, England, in 1904. ACCA is a self-regulating and independent organization that awards the internationally-recognized ACCA qualification.

Today, there are over 145,000 members and students in almost 200 countries and territories around the world.

ACCA has a strong presence in Africa and Asia Pacific, with a growing membership base in Europe. ACCA works closely with other international organizations to promote good governance and sound financial management globally.

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.