A Complete Overview About ACCA course in 2023: Step-by-Step Guide

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A Complete Overview About ACCA course in 2023: Step-by-Step Guide

Introduction

Having an advantage over your competitors is essential to build a successful career in the current corporate environment, where development is quick and competition is intense, especially when applying for leading positions. Careers in the fields like accounting, finance, auditing, etc., are on the rise and facing more competition. 

Candidates looking for a break into these professions frequently search for ways to increase their earning potential by deepening their understanding of the industry in advance. The ACCA degree, which is acknowledged, accepted, and appreciated internationally, is one such route that many professionals take. 

In this blog, we will go through aspects you need to know about ACCA course details.

What is ACCA?

ACCA certification is a globally recognized certificate and one of the most highly prized qualifications by companies worldwide for professionals in finance. It is equal to the Chartered Accountancy (CA) qualification in India and is recognized in various major employment markets. The Association of Chartered Certified Accountants, or ACCA, is an organization accrediting this certification, with over 200,000 members and 600,000 students in more than 180 nations.

The ACCA certification is a significant advantage when applying for senior positions and helps establish successful careers in management, accounting, banking, and consulting. Join the ranks of seasoned accounting and finance professionals all through the world by deciding to study with ACCA.

Before diving into the ACCA course details, consider some of the reasons why you should study ACCA in the first place.

Why Should You Pursue an ACCA Qualification?

Having a certificate like ACCA will offer you an advantage when applying for high positions in the market and will place you among the most sought-after individuals in the field. Here are some of the reasons why you should pursue the ACCA qualification:

  • Candidates who join ACCA become part of a network of experts with over 219,000 members worldwide. With this certificate, you may take on major responsibilities in top positions across sectors anywhere around the globe.
  • The ACCA accreditation ensures strategic thinking, technical capabilities, and professional values, which are important and highly sought after by any business worldwide.
  • It offers you the title of a chartered certified accountant, a title that is exclusively available to ACCA members.
  • Because ACCA certification ensures companies of your efficiency and competence, this certification opens the door to a top management position.
  • Exams are conducted every three months, some of which can be taken on demand, giving you the flexibility to move forward at your own speed. You can specialize in a chosen area of your preference at ACCA because of the flexibility of their tests.
  • Along with the theory, this certification believes in putting it into practice.

We hope these reasons can educate you enough to make an informed choice about ACCA. Now let’s get into the brief ACCA course details.

ACCA Course Eligibility Criteria

To be eligible for the ACCA certification, a candidate must be at least 18 years old and hold a minimum of a 10+2 degree with a minimum cumulative grade point average of 65% in English and Mathematics or Accounts and 50% in all other selected disciplines. Additionally, it may be pursued by students who are enrolled in Bachelor’s degree programs like BCom, BBA, BMS, etc. Different universities have different application processes for the ACCA certification program. Some institutions use entrance examinations for it, while others use merit-based admissions.

Students who have just cleared class 10th exams or who do not meet the requirements listed above can still sign up for the ACCA Course through the Foundation in Accountancy (FIA) program.

After knowing the ACCA course details of eligibility, let’s understand the syllabus to get more clarity.

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ACCA Syllabus Details

Financial Reporting, Accounting, Business Finance, Auditing, Taxation, and Financial Management are all topics covered by the ACCA course, which is an aspect of Chartered Accountancy. The ACCA Syllabus includes a total of 13 papers that a candidate should take. The 13 papers are divided into three categories: Knowledge, Skill, and Strategic Professional. 

The Knowledge Level exams are on-demand exams that can be taken whenever you choose during the whole year. Exams for the skill and professional levels are given each year in March, June, September, and December. The Professional level exams for the ACCA curriculum were paper-based until 2021, but all three levels are now computer-based (CBE).

After completing the 13 exams, the candidate must show 36 months of relevant experience. They should also finish the Ethics and Professional Skills Module, which helps them establish a comprehensive set of skills that employers want.

The basic structure of the syllabus for ACCA course details is provided in the table below:

Level Subject
Knowledge Level Business AccountingManagement AccountingFinancial Accounting
Skill Level Corporate and Business LawsPerformance ManagementTaxationFinancial ReportingAudit and AssuranceFinancial Management
Professional Level (Compulsory) Strategic Business LeadershipStrategic Business Reporting
Professional Level (Optional: Any 2 of the given 4) Advanced Financial ManagementAdvanced Performance ManagementAdvanced TaxationAdvanced Audit and Assurance

ACCA Exam Details

The ACCA certification exam has a total of 12 papers categorized into two levels: Fundamentals (further into Applied knowledge & Applied skills) & Strategic Professional. Applied Knowledge has 3 papers, Applied Skills has 6 papers, and Strategic Professional includes 3 papers.  

The ACCA exams are given every three months, mostly in March, June, September, and December.

Students can choose which exam to take first in the ACCA course. Additionally, students may select two of the four optional papers depending on their preferences.

The passing criteria are as follows- 

  • Score 50% on each of the papers.
  • Pass all the papers, including one Professional Ethics Module

ACCA Fee Structure

ACCA Registration and Subscription Fee

To register for ACCA examinations, you must be a current ACCA student. Therefore, you must pay an £89 one-time registration cost as well as a £116 yearly subscription price. If your name was deleted from the registration because you didn’t pay your membership fee on time or for any reason, you would be charged £89 to re-register. To renew their membership, each student must pay the Subscription fee. If the yearly payment is not paid and the CPD requirement is not met, the ACCA body can cancel your registration.

ACCA Knowledge Level Exam Fee

The ACCA examinations are categorized into knowledge, skill, and professional. Each of these sections carries an examination cost. The first section, Applied Knowledge level, contains three papers. 

The ACCA knowledge level tests cost £86 (in India it is around INR 8,000 to INR 10,000) for each paper. However, it also depends on the exam centers you choose.

ACCA Skill Level Exam Fee

After passing the knowledge level tests, the skill level is the next level. There are six papers total at the skill level. The ACCA skill level cost £129 for each paper.

ACCA Professional Level Exam Fees

This paper consists of a total of 4 papers, of which two are required, and two from a set of 4 papers can be chosen.

The ACCA professional-level papers include the SBR which costs £162, and the SBL paper will cost £227.

ACCA Exam fee – Membership

You can apply for the full ACCA membership once you have completed your ACCA examinations, ethics module, and professional experience requirement. This means you must pay a one-time membership charge of £270. Then you pay a £270 yearly subscription charge.

Special Discounts

Although ACCA exam fees are designed to be inexpensive for students across the world, some may still require more discounts. If you satisfy the requirements—such as being unemployed for a long time, providing full-time care for a family, or attending school full-time—you could be eligible for a reduced ACCA membership subscription price.

ACCA Coaching Fee

You need to enroll in a coaching session whose ACCA program is well-known worldwide if you want your ACCA degree to be genuinely valuable. Costs for ACCA Coaching Institutes range from INR 2,000,00 to INR 3,00,000 per year. To know in detail, contact our counselors.

Career Options After ACCA Course

Companies acknowledge the ACCA qualification since it is a worldwide recognized certificate, and applicants with this qualification have an advantage over others. Interestingly, applicants with this qualification earn more than those without it. The ACCA certificate provides a wide range of jobs worldwide and allows for rapid advancement in the sector.

Following ACCA, some possible career opportunities include-

  1. Financial Accounting
  2. Tax Consulting
  3. Audit and Assurance
  4. Accounting and Reporting
  5. Business Development
  6. Business Restructuring
  7. Education and Training
  8. Corporate Finance

Salary after ACCA certification

The overall experience of an ACCA member in a relevant profession or industry is a significant element that determines their average income. Here are the average salaries you may expect as an ACCA member-

  1. Entry Level – INR 7.8 lacs per annum
  2. Mid Senior Level – INR 12 lacs per annum
  3. Senior Level – INR 19 lacs per annum

A professional who just earned their ACCA may be recruited in India in a role comparable to that of an Indian Chartered Accountant. Companies. You may still anticipate earning between INR 4 and 6 LPA if you are an ACCA Affiliate and a fresher. As you gain experience in your profession and demonstrate your skill at work, this is likely to increase.

FAQs

1. What are the subjects for ACCA?

ACCA’s 13 subjects and exams are separated into three levels: Applied Knowledge, Applied Skills, and Strategic Professional. Once you learn about the ACCA course details, you will know all the subjects covered in the course. The topics covered in the ACCA course are Financial Accounting and Management, Business Accounting, Performance Management & Analysis, Management Accounting, Corporate & Business Law, Taxation, Financial Reporting, and Audit & Assurance on an advanced level.

2. Which degree is best for ACCA?

 While any graduate degree that includes accounting principles can help you prepare for the ACCA, the BCom and BBA appear to be the finest options. 

3. What is the ACCA course fee?

 The average cost for the ACCA course, including a coaching fee, is about Rs 3,60,000. If you have any doubt about ACCA Course details, you should connect to your coaching institute counselor.

4. Is ACCA a difficult course?

 No, the ACCA certification is not that challenging. Comparing the ACCA to other professional finance and accounting courses like the CA and CFA, it is really simpler to pass the ACCA. If you go through the ACCA course details and syllabus provided in this article, you will understand how to prepare for the exam to pass it in one go.
 

5. Can I finish ACCA in 2 years?

Yes, you can pass every ACCA exam in two years. Four exam sessions are held annually by ACCA. Each student per session may take a maximum of four tests for a total of eight exams over the academic year. As a result, it is feasible to pass every ACCA test in two years. Please go through the ACCA course details to understand the exam pattern and subjects so that you can plan your exams to complete the course in 2 years.

6. Explain ACCA IFRS course details.

The International Financial Reporting Standards (IFRS), provided by the International Accounting Standard Board (IASB), are a short-term course by ACCA that provides students with the framework and comprehension of international accounting standards. It provides you with a thorough grasp of the accounting and international financial reporting techniques needed in today’s world. According to the ACCA course details for IFRS – If you have two years of accounting experience and an ACCA Certificate in International Financial Reporting or Three years’ relevant accounting experience, you can apply for this course. 
A single, three-hour, fifteen-minute written test serves as the exam’s sole means of evaluation. In order to finish the paper, you must receive at least 50%. At the testing locations of ACCA, the exam is given twice a year, in June and December.

7. How many exemptions can students avail of for ACCA exams?

According to the ACCA course details available on ACCA Global website, the ACCA Qualification can be given after passing a maximum of nine Applied Knowledge and Applied Skills tests. There aren’t any exemptions for the Strategic Professional Exams, however.

8. What should I do once I’ve finished the ACCA?

 After obtaining your ACCA certification, you’ll have many work options. All of India’s leading international companies, including the Big Four, are hiring ACCA members. Candidates with the necessary ACCA membership are also eligible to seek opportunities abroad as it is an internationally recognized credential. You can check the ACCA course details provided in this article for job opportunities. If you want to get a postgraduate degree after earning an ACCA, a CFA is the best postgraduate degree to boost your financial career if you’re interested in continuing your study. There are three tiers of examinations throughout the course. Learning and finishing CFA may be sensible for you if you currently hold an ACCA qualification.
 

9. Is ACCA certification possible without math?

The math in ACCA is elementary. The curriculum and the work are the most significant factors. You should work on improving your learning effectiveness. The ACCA exam is not tough; therefore, once you pass it, nothing will be a threat to you. Keep in mind that practice makes perfect. Please go through the ACCA course details to understand the curriculum. 
 

Conclusion

The ACCA qualification is essential to your professional growth if you intend to become an accountant and aspire to work abroad or with renowned worldwide companies. 

Therefore, we advise starting your ACCA career path with the NorthStar Academy’s ACCA course if you’re considering beginning a job as an accountant in the UK or any other nation. Students receive both in-person and online video lessons and are provided preparation sessions using MCQs as well as ACCA course details and learning content.

If you have any further questions about the ACCA course details, you may reach us at +91 81 4747 0707. We would be more than pleased to assist you concerning your career.

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