Do you find Chartered Accountancy a rigorous and a time-consuming course? Then you can choose a similar but less challenging option for yourself which is ACCA. Does it ring any bells? If not, let us start with Full form of ACCA, it stands for “Association of Chartered Certified Accountants”. We are sure that many of you might have heard about it somewhere in your professional surroundings, social media, or newspaper, but today you will realize the importance of this course and how it can get you an entry in Big 4’s.
More About ACCA
Association of Chartered Certified Accountants (ACCA) is a global professional body that provides students with a certification called “Certified Chartered Accountant”. ACCA is globally recognized. It covers a broader range of subjects, including management, business, and international taxation. Unlike CA, that covers taxation only in the Indian Regime. ACCA covers taxation in various countries such as the UK, Malaysia, Singapore, and Hong Kong, etc. Before we introduce you to unlimited perks of being an ACCA, here is a glimpse about its Course content and Examination structure.
Levels in ACCA and Related Examination: –
ACCA is segregated into three (3) levels, and you need to clear 13 exams to be qualified as an ACCA. However, students can avail themselves of various ACCA exemptions based on their prior education. As in, a BCom graduate is required to sit for 9 exams instead of 13 and a qualified CA is only required to clear 4 exams instead of 13. ACCA exams take place four times a year: March, June, September, and December. Given below is a summary about the course content and examination structure: –
| Level | Number of Papers | Subjects |
| Applied Knowledge – Introduction to finance and essential accounting techniques | 3 | Business and Technology Financial Accounting Management Accounting |
| Applied Skills – Focuses on building practical finance skills required for the future. | 6 | Corporate and Business laws Taxation Financial Reporting Performance Management Financial Management Audit and Assurance |
| Strategic Professional – Prepares students for leadership positions and allows specialization. | 6(4) | Essentials: Strategic Business Reporting Strategic Business Leader Optional (2 out of 4) Advanced Financial Management Advanced Audit and Assurance Advance Taxation Advance Performance Management |
Enrolment in ACCA
The demand of ACCA continues to grow in various MNC’s in India. ACCA is also globally recognized in 180+ countries. To become an ACCA and achieve and for achieving the ACCA qualification you must adhere to the following:
- You must be at least 18 years old to start the ACCA program and must have completed your 12th grade with a minimum of 65% and a minimum of 50% in all other subjects.
- You need to register yourself at the official ACCA website at ACCA Global. The registration process is straightforward, and you just need to fill in your personal information and documents needed would include proof of identification such as Aadhar card, Driver’s license, passport, etc.
- You must pay the required fees to complete the registration process. ACCA course fees in India are around INR 1.2 lakh to INR 2.6 lakh, considering the exchange rate of the Rupee it may vary. The components of fees include: –
- a one-time registration fees to become an ACCA student,
- There is a yearly subscription that ensures your membership and access to study materials and other resources,
- Each exam has a separate fee (denominated in GBP)
- ACCA awards maximum exemptions based on your qualifications, an ‘exemption fee’ is charged for each ACCA exam you’re awarded an exemption for which must be paid within 30 days of receiving your exemption award.
- As an ACCA qualified you must successfully complete the Ethics and Professional Skills module and accumulate 3 years of relevant work experience.
Advantages of Becoming an ACCA: –
- ACCA focuses on practical aspects of accounting, including auditing, tax planning, financial reporting, cost management, and business laws. It is pretty much obvious that such a wide exposure in all these fields makes ACCA a valuable and lucrative career option.
- As an ACCA you will have signing authority in 90+ countries, including the UK, Dubai, UAE, and New Zealand.
- As we have earlier emphasised that ACCA is globally recognized and therefore it opens international job opportunities in finance and accounting, making it most viable for those seeking a global career opportunity,
- Both ACCA and CA require dedication and effort, where CA is considered tougher due to its extensive syllabus, ACCA has a better overall passing rate. Also, if you are a qualified CA and want a global career then an icing on the cake is that you only need to clear 4 exams to get your ACCA qualification.
Salary Package
The most awaited and exciting question always comes with how much? So, we are sure you must be keen to know the salary package of a qualified ACCA. As we know that ACCA is high in demand in multinational companies including PwC, EY, Deloitte, KPMG, and Grant Thornton with a minimum package of 6 LPA for a fresher, that will continue to grow as you become experienced.
Concluding the ACCA ride: –
It is very evident that ACCA is a viable option for those who are considering a global opportunity or entry in big size firms and MNCs. Moreover, an ACCA holds valuable experience in various fields which surely makes it one of the most demanding careers in today’s world. Hope you have our short ACCA safari so far that will help you considerably decide your future.
