Can I Complete ACCA in 2 years? Experts Sharing Top Tips

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Can I Complete ACCA in 2 years? Experts Sharing Top Tips

Can you complete ACCA in 2 years?

Yes! You can complete the ACCA course and its exams in 2 years. However, you will require a minimum of 3 years to receive the ACCA certification. It is because the ACCA requires its candidates to have three years of practical experience before becoming ACCA members and being considered qualified accountants.

The exams, however, can all be completed within two years. The maximum allowed time to complete the ACCA course is set for seven years by the ACCA.

Introduction

ACCA, or Association of Chartered Certified Accountants, is a well-reputed and globally recognized accounting body based in London, UK. This association offers one of the most coveted certifications with the same name – ACCA. The students and working professionals choose this excellent career booster to get ACCA-certified and work in the top MNCs worldwide. Moreover, they can grab highly lucrative job roles with the help of this certification enlisted in their CVs and can reach top-level positions.

Becoming an ACCA requires every candidate to clear its pretty comprehensive exam, with 13 papers to be passed. Well! You need to understand certain factors if you are wondering how to clear all these in the least time possible. Read ahead to learn the tips on how to complete ACCA in 2 years.

How is it possible to complete ACCA in 2 years? 

The Association of Chartered Certified Accountants conducts four exam sessions per year. Candidates are allowed to take a maximum of four exams at each session. There are a total of 13 exams in the complete ACCA course.

Here is a complete list of the 13 ACCA exams that candidates need to take for the three ACCA levels:

Applied Knowledge Level

F1: Business & Technology (BT)

F2: Management Accounting (MA)

F3: Financial Accounting (FA)

Applied Skill Level

F4: Corporate and Business Law(LW)

F5: Performance Management(PM)

F6: Taxation (TX)

F7: Financial Reporting (FR)

F8: Audit and Assurance (AA)

F9: Financial Management (FM)

Professional Level

Compulsory subjects:

P1: Strategic Business Leader(SBL)

P2: Strategic Business Reporting(SBR)

Optional subjects (Any 2):

P3: Advanced Financial Management (AFM)

P4: Advanced Performance Management (APM)

P5: Advanced Taxation (ATX)

P6: Advanced Audit and Assurance (AAA)

For the Strategic Professional Level, candidates must take the P1 & P2 exams and any two exams from P3-P6.

Therefore, if you take four exams in a year, you can easily complete all ACCA exams in two years.

Also, if you are eligible for exemptions, you may apply to get exempted from a few subjects. This would also help you complete the ACCA exams even more quicker. If you are qualified enough to get the most exemptions, you can complete the ACCA exams in six months!

ACCA Course Eligibility and Exemptions

ACCA Course Eligibility:

To be eligible for ACCA, candidates must have passed their Class 12 exams. They would need a minimum score of 65% in Mathematics / Accounts and English and a minimum of 50% score in other subjects. Candidates who fit these criteria and are currently pursuing or have completed their graduation can also apply for the ACCA certification.

Students who do not fit the above criteria need not worry as they can also apply for the ACCA course via the Foundation in Accountancy (FIA) route. If you have passed your 10th exams, you can also become an ACCA by starting with the FIA course.

ACCA Exemptions:

Let us look at the ACCA course exemptions that can help you complete the ACCA course in under two years.

Qualification Exemptions allowed No. of ACCA Examinations to Take
Class 12 None 13
B.Com BT, MA, FA, LW 9
CA IPCC (Both Groups) BT, MA, FA, TX, AA 8
Final CA BT-FM (9 subjects) 4
MCom Post Graduate BT, MA, FA, LW 9

To get all the exemptions for the CA IPCC qualification, the candidate must have passed five subjects, including English and Mathematics / Accounts, with 65% in at least two subjects and more than 50% for the rest subjects. 

Also, CA Final candidates are eligible for additional exemptions if they’ve scored 40 or above in their examination for relevant subjects.

Thus if you have the required qualification, you must apply for an ACCA exemption, allowing you to easily complete ACCA in 2 years or even less. Once you register for exemptions and pay the required fee, you will be approved within three weeks of receipt of all necessary documentation.

If you are confused about whether you are eligible for exemptions, then you visit the official ACCA website and enter your relevant qualification on the exemption calculator. You will then be guided regarding what exemptions you are eligible for.

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The Time Limit For ACCA Examination

Although it is possible to complete ACCA in 2 years, the maximum time limit for the ACCA course is seven years. The reason for the 7-year time limit is that ACCA aims to provide equal opportunities to all candidates. It also wishes that the candidates are up to date with the latest information in the field. Therefore it continually revises its syllabus. It also allows employers to be confident while hiring ACCA professionals knowing they have relevant and up-to-date knowledge that will help them enhance their organizations.

This rule applies to all students registered for the exam after December 2015. Those who registered for the ACCA course before December 2015 have a 10-year time limit to complete the qualification from the date they registered as a student.

All other students need to complete their ACCA course within seven years. If they cannot pass all the Strategic Professional Level exams and reach affiliate status in these seven years, then they will lose any progress that they achieved in these seven years. To finish the ACCA course, they will need to retake the course from the beginning.

Tips To Complete ACCA in 2 Years

As mentioned above, it is possible to complete ACCA in 2 years. However, this would require smart planning and perseverance on the part of the candidates. Here are some expert tips that can help you complete the ACCA exams in 2 years.

  1. Have a Plan Ready: If you want to complete ACCA in 2 years, you need to have a study and exam plan ready. You must plan out when you are going to manage your studies and work. You must also plan when you are going to which exams. Have a plan ready and work hard to achieve it. If you are also working while pursuing the ACCA course, you should manage your work hours and leave efficiently to be able to improperly study for the ACCA exams.
  1. Apply for Exemptions (if applicable): If you have the required qualification, you must apply for ACCA exemptions. It would save you a lot of time and effort.  
  1. Manage Time Effectively: Time management is essential to passing any exam, including the ACCA. You must be strategic in planning your study time around your daily obligations and work hours. Make full use of the time that is devoted to studying. Stay away from distractions. Plan your time so that you can take mock tests regularly and get ample time for revision.
  1. Prepare for Multiple Papers: If you want to complete ACCA in 2 years, you should study for multiple papers together. In each exam session, aim to give at least two papers. If you prepare for two or more papers for one exam session but are unable to complete preparing for them, you can just give one paper, but you would have still prepared most of the syllabus from the other subject, which would save you ample time.
  1. Study Efficiently: We just learned that we should not just focus on one paper at a time. However, whatever we are studying, we should efficiently prepare for the subjects concerned. It means that to be able to complete ACCA in 2 years, you must study efficiently. So, you should prepare so that you pass all the exams in one attempt only. Hence the quality of your preparation matters a ton. If you keep getting stuck on any exam, you will not be able to complete ACCA in 2 years.

Conclusion

ACCA is a great course that can help you get a great boost in your accountancy career. Also, it is a course that can be completed in a short duration of 2 years with the help of a reputed ACCA training institute.

NorthStar Academy is a reputed institute that can help you easily crack all the ACCA exams in 2 years. So you will be easily able to complete ACCA in 2 years while studying under the expert guidance of exceptional mentors like Mr. M. Irfat. You will have professional support at every step of the ACCA journey. Our experienced mentors will guide you from registration to applying for exemptions, and they are always there to answer all your queries. A premium institute like North Star Academy not only guides you but also offers placement assistance. We offer the best study material in association with BPP Learning Media to help our students learn on the go.

Book a free demo class today to understand how NSA can instantly help you realize your ACCA dreams. For more information, give us a call at +91 8147470707.

FAQs

1. How do I study for my ACCA exams?

To study efficiently for the ACCA exams, you must be aware of the ACCA exam pattern and plan your studies accordingly. You should prepare efficiently for the exam, attempting the maximum number of mock tests and doing revision regularly. It is always better to study under experts who can provide the right resources for your studies and help you with important tips and tricks to crack the ACCA exam

2.  What exams do I have to take to complete the ACCA Qualification?

ACCA has three levels: Applied Knowledge Level, Applied Skills Level, and Strategic Professional Level. There are a total of 13 exams, and candidates who have not applied for any exemption need to take all these 13 exams to complete their ACCA certification. The subjects are as follows:
Business & Technology (BT)
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)

Compulsory subjects
Strategic Business Leader(SBL)
Strategic Business Reporting(SBR)
Optional subjects (Any 2):
Advanced Financial Management (AFM)
Advanced Performance Management (APM)
Advanced Taxation (ATX)
Advanced Audit and Assurance (AAA)

3. What exemptions can I apply for?

Depending on your current level of qualification, you can apply for the following exemptions:
B.Com graduates can opt for these exemptions: BT, MA, FA, LW
CA IPCC qualified can opt for these exemptions: BT, MA, FA, TX, AA
CA qualified can opt for these exemptions: BT-FM (9 subjects)
M.Com Postgraduates can opt for these exemptions: BT, MA, FA, LW

4.  Is ACCA equal to a Bachelor’s degree?

ACCA is an international-level certification that isn’t like a conventional undergraduate degree program. However, many educational institutions do consider ACCA as an equivalent of a bachelor’s degree in accountancy. Candidates must keep in mind that when it comes to career opportunities, ACCA is far more valuable than a conventional undergraduate degree program in accountancy.

5. How many times can you fail an ACCA exam?

ACCA is a very flexible course, and there is no limit set to the number of failed attempts. You can take an exam as many times as you like after paying the exam fees. However, the only limit set by the ACCA is that of time. Candidates need to pass all the ACCA exams within seven years from their date of registration as a student. If a candidate fails to pass all the exams in 7 years, they will have to retake all the courses, and all their progress till that point will be considered nil.

6. What are the entry requirements for the ACCA Qualification?

To be eligible for the ACCA course, candidates must pass their Class 12th exams with a minimum aggregate score of 65% in Mathematics / Accounts and English and at least 50% marks in other subjects. Candidates who fit this criterion and are currently pursuing or have completed their graduation can also apply for the ACCA course. Students who do not fit the criteria mentioned above can apply for the ACCA course via the Foundation in Accountancy (FIA) route. 

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