ACCA Course: Details, Eligibility, Fees, Duration, Subjects (Guide)
ACCA stands for Association of Chartered Certified Accountants. It is a professional qualification and provides knowledge in accounting, auditing, taxation, etc. It comprises 13 subjects with three levels.
ACCA course is excellent for students seeking job opportunities in the finance and accounting sector.
To be eligible for this course, you should have completed 10+2 with a minimum of 65 per cent marks in mathematics/accounts and a minimum of 50 per cent marks in other subjects.
Students who are pursuing B.com., BBA and other commerce-related degrees can also apply for this course.
After this course, you can become an accountant, auditor, finance manager, business analyst, etc., earning an average of 4-6 lakhs annually.
What is ACCA?
ACCA is a professional qualification in the fields of accounts and finance, having recognition in more than 180 countries across the globe.
It provides knowledge in accounts, audit, finance, taxation, investment banking, etc.
It has the recognition of a full university degree. You can do this degree with other commerce degrees like B.com, BBA, etc.
Students have to pass 13 exams in 7 years to complete this course.
Essential Details of the ACCA Course:
|Duration||1-3 years, depending upon qualification|
|Fee||Rs. 217500 (approx)|
|No of exams||13|
|Eligibility criteria||10+2 with min 65 per cent marks in English and Maths/Accounts with a minimum of 50 per cent in other subjects|
|ACCA subjects||Accountancy in Business, Financial Accounting, Corporate and Business Law, etc.|
|Top careers||Accountants, Auditors, Finance managers|
|Average Salary||4 to 6 LPA|
|Top Companies||PwC, KPMG, Deloitte|
Overview of ACCA Levels:
- Accountant in Business (AB)
- Management Accounting (MA)
- Financial Accounting (FA)
- Corporate and Business Law (LW)
- Performance Management (PM)
- Taxation (TX)
- Financial Reporting (FR)
- Audit and Assurance (AA)
- Financial Management (FM)
- Strategic Business Reporting (SBR)
- Strategic Business Leader (SBL)
Optional subjects (2 of 4)
- Advanced Financial Management (AFM)
- Advanced Performance Management (APM)
- Advanced Taxation (ATX)
- Advanced Audit and Assurance (AAA)
Some distinctive advantages of the ACCA course are:
- Alternative to CA: The CA course can be tough, and many students give up before completing CA. ACCA is a viable choice for these students because it is an easier course. The passing percentage of ACCA is around 50-60 per cent, which is much more than the CA course, whose passing percentage is approximately 10 per cent. ACCA is accepted internationally, while the CA course is more beneficial in India
- Competitive benefit: You will have extensive knowledge in the fields of accounts, taxation and finance, which will differentiate you from your peers. Many MNCs like Deloitte and KPMG prefer ACCA candidates.
- International recognition: This course has recognition in more than 180 countries across the globe, and thus, you can get an opportunity to work in countries like the UK and Dubai.
- Higher salaries: People with ACCA degrees earn more than people with regular university degrees. The average salary of people with regular university degrees ranges from 1 lakh to 2.5 lakh per annum, whereas ACCA freshers can expect an average salary of 4-6 lacs per annum.
- Alumni network: After this degree, you will be a part of a prestigious network comprising ACCA professionals all across the globe.
Who Should Pursue ACCA?
1) High school students interested in accounts, taxation and finance
2) Graduating students interested in finance and accounting careers.
3) Experienced professionals looking for higher salaries and growth in their corporate career.
The basic eligibility criteria for ACCA are as follows:
- Minimum age – 18 years
- Students who have completed 10+2 should have more than 65 per cent marks in Accounts/Maths and English. You should score at least 50 per cent marks in the rest of the subjects.
The following table provides an overview of eligibility for different levels of ACCA:
|Levels||Eligibility||Passing per cent|
|1||Completed Class 12||70|
|2||Completed B.Com or an equivalent undergraduate course||45|
|3||Level 2 Completed||45|
How to Register For the ACCA Course?
Visit the official website- https://www.accaglobal.com/in.
Register yourself and upload all the required documents like the 10th mark sheet, 12th mark sheet, Bcom mark sheets and CA completion certificates.
You will have to submit an initial amount of £30 for registration.
Essential documents for ACCA registration:
- If documents are not in English language, then you need to provide their official translation
- Identity proof like- Aadhar card, driver’s license, and passport
- You should also provide proof of minimum eligibility criteria like 10th and 12th mark sheets.
Fees for ACCA Course
You will have to submit different amounts of fees at each level of ACCA. An overview of the amount of fees for different purposes is as follows:
|Particulars||Frequency||Cost in INR||Total|
|Initial Registration||One time||3000||3000|
|Knowledge level Exam||3 papers||10000 per subject||30000|
|Skill Level Exam||6 papers||13000 per subject||78000|
|Professional Level Exam||4 papers||16000 per subject||64000|
|Ethics and Professional Level Module||One time fee||6500||6500|
ACCA Course Subjects
|1||3||Business Technology (FBT)· Financial Accounting (FFA)· Management Accounting (FMA)|
|2||6||Taxation (TX)· Performance Management (PM)· Audit & Assurance (AA)· Corporate and Business Law (LW)· Financial Reporting (FR)· Financial Management (FM)|
|3||4||Essentials· Strategic Business Leader (SBL)· Strategic Business Reporting (SBR) Options (Pick 2)· Advanced Financial Management (AFM)· Advanced Performance Management (APM)· Advanced Taxation (ATX)· Advanced Audit & Assurance (AAA)|
After completing these levels, you must acquire supervised experience of 36 months in a relevant role to become a member of this institute.
Additionally, a candidate must complete the Ethics and Professional Skills Module, which will help him professionally.
ACCA duration depends upon your level of education.
|Educational Qualification||Minimum time to complete ACCA|
|· 12th||3 years|
|· Graduate (B. Com, BBA)||2 to 2.5 years|
|· IPCC Both Groups||2 years|
|· B. Com with CA Inter 1 Group||1 year|
|· CA Final||1 year|
When Are The Exams Conducted?
ACCA Institute conducts examinations in the following months: March, June, September, & December.
You can attend a maximum of 4 papers in one examination cycle.
Students have to attempt these papers in the following modes:
- Applied knowledge – On-demand and computer-based
- Applied skill exam- Computer-based and conducted in sessions
- Essential exams-Computer-based and conducted in session
- Optional exams- Computer-based and conducted in session
Passing Requirements of ACCA Exam:
A student has to pass 13 papers to become an ACCA professional. To pass a paper, you must attain 50 per cent marks.
You may get professional marks on the professional-level paper for the overall answer quality and professional communication skills.
Exemptions in ACCA Course Subjects
You may get the following exemptions based on your qualifications
|CA Inter||3||2 ( Audit & Tax)||0|
|B.Com and CA Inter||3||3 (Law, Audit, Tax)|
|Qualified CA and CMA||3||6 (FR, FM, Cost)||0||Fully exempted|
How to Prepare for ACCA Exams?
- Make summary notes: Brief notes of topics are essential to revise before exams.
- Study from ACCA-approved content: BPP Learning Media and Kaplan Publishing are some ACCA-approved content providers.
- Solve past year papers: Past year question papers will give you an idea of important topics.
- Sign-up for coaching: Coaching classes can make your journey easier with guidance and experienced teachers.
Skills Required for ACCA Professional
- Quantitative ability: Quantitative skills are the ability to understand and manipulate numerical and statistical data.
ACCA professionals should have quantitative skills to prepare financial reports, maintain budgets and analyse data.
- Accounting knowledge: You will have to maintain accounts of your business, so you need to know accounting laws and rules.
- Technical skills: You will use many software and tools like SAP and Microsoft Excel. It is beneficial to acquire knowledge of these tools beforehand.
- Communication skills: Communication skills are essential for expressing ideas and understanding co-workers. ACCA professionals need to communicate with team members to get work done. Also, they need to make presentations in front of stakeholders.
You can improve these skills by learning public speaking and reading books.
- Decision-making: ACCA professionals analyse financial reports and make sound business decisions.
- Integrity: Ethics, transparency, and professionalism are the core values of every profession, so ACCA professionals have to maintain the highest level of integrity in their professional lives.
Scope of ACCA
ACCA has recognition in more than 180 countries globally.
Many companies like Deloitte and PwC hire ACCA professionals in various job roles like accounts, statutory audit, and internal audit in India.
The most preferred locations globally for Indian students are the UK, Canada, Singapore, and Dubai.
ACCA professionals also have signing authority in these countries.
Job Opportunities After Becoming ACCA
Following is a table containing job roles and the average annual salary of an ACCA professional.
|Job roles||Average Pay|
|Accountant||1.4 LPA to 6.1 LPA|
|Chartered Accountant||INR 4.9 LPA to 20 LPA|
|Finance Manager||INR 4.5 LPA to 20 LPA|
|Associate Auditor||INR 2.7 LPA to 10 LPA|
|Auditor||INR 2.1 LPA to 20 LPA|
|Financial Analyst||INR 2.4 LPA to 10 LPA|
|Account Executive||INR 1.7 LPA to 6.0 LPA|
|Accounts Assistant||INR 1.3 LPA to 5.2 LPA|
Following is a table containing countries and average annual pay for ACCA professionals:
|Country||Entry level employees||Senior level employees||Senior levelemployees|
|India||INR 7.00 lac||INR 11.17 lac||INR 19.00 lac|
|UK||GBP 39,000||GBP 52,500||GBP 68,200|
|UAE||AED 60,000||AED 1,20,000||AED 2,40,000|
|Hong Kong||HKD 17,400||HKD 22,800||HKD 31,900|
Top Recruiters for ACCA
- Grant Thornton
Countries where ACCA has Signing Authority
Following are the countries where ACCA professional has signing authority:
- United Kingdom
- Australia and New Zealand
CA v/s ACCA Course
|Qualification||Professional Course||Professional Course|
|Institute||Association of Certified Chartered Accountants,||Institute of Chartered Accountants of India (ICAI).|
|Subjects||Subjects include Accounting and Finance||Subjects include auditing, taxation, and accountancy.|
|Estimated Duration||1 to 3 years||3 to 4.5 years|
|Examination levels||13 exams and 3 levels||20 exams and 3 levels – Foundation (4), Inter (8), Final (8)|
|Average Fees||INR 217500||INR 90000|
|Eligibility||· 18 years age· Minimum 65% in Mathematics or Accounts and English, and· a minimum of 50% in all other subjects||10+2 for Foundation or, BCom with at least 55% marks for Inter & Final.|
|Average Salary in India||INR 400000 to 600000||INR 6,00,000 to INR 8,00,000|
|Job Roles||Accountant, internal auditor, forensic accountant, compliance officer, business analyst, risk manager, treasurer, insolvency practitioner, business consultant, chief financial officer, etc.||Accountants, Auditors, Financial Officer, Finance Manager, Taxation Expert, Investment Advisor, etc.|
What To Do After You Qualify ACCA Course?
- Become self-employed: You can become self-employed after gaining industry experience.
- Apply for job roles: You can choose to work for companies in the job roles listed in this article.
- Other courses: You can do other courses like MBA and CFA after ACCA.
Which Courses to Do After ACCA Course?
After becoming an ACCA professional, you can pursue the following degrees:
1) MBA or MSc: These degrees will help you get promotions in the corporate sector. An MBA will help you with management roles, whereas an M.Sc. can land you a job in more technical roles.
2) CFA: Unlike ACCA, CFA is more finance-oriented and helps you in job roles like asset management, risk management, and consulting.
To summarise, the ACCA exam is an excellent option for students interested in accounts, finance, taxation, etc.
Furthermore, ACCA also has job opportunities in India and abroad.
This article gave you a detailed overview of the duration, fees, subjects, etc., of this course.
We hope this article helped you figure out the next steps in your ACCA career!
Q: What is the hardest paper in the ACCA exam?
Audit assurance is the hardest paper in the ACCA exam.
Q: Can I find repeat questions in the ACCA paper?
No, you can not find repeat questions in the ACCA paper, but you can understand the pattern of questions by reviewing previous year’s papers.
Q: Which paper is the easiest in the ACCA exam?
Foundation in Business is the easiest paper in the ACCA exam.
Q: Can I pass the ACCA exam on my first attempt?
Yes, you can pass the ACCA exam on your first attempt, but it takes a lot of dedication and hard work.
Q: What is tougher: ACCA or MBA?
ACCA is tougher than MBA as passing per cent of ACCA is lesser than MBA.