Last updated on July 24th, 2024 at 10:10 am
ACCA or the Association of Chartered Certified Accountants is one of the most significant qualifications in accounting and finance globally. The ACCA course is recognised with more than 2,00,000 members and 6,00,000 students spread in over 180 countries. It provides students with the essential skills and knowledge to be proficient in the field of accounting and finance. In this blog, we will deep delve into the ACCA course details that you must know if you aspire to become a successful Chartered Accountant.
Understanding the ACCA Course Details?
Recognised around the globe, ACCA stands for the Association of Chartered Certified Accountants. The ACCA course is designed to provide students with complete skills and knowledge to excel in accounting, finance, and business management. It includes several levels and exams, covering a wide array of subjects crucial for professional accountants.
As per their education, students can get ACCA exemptions, like if a student has a B.Com. or M.Com. degree, then he/she will need to take 9 exams instead of 13, and for students with CA qualification, 4 exams are required instead of 13.
The ACCA exam is conducted 4 times a year, in March, June, September and December at exam centres.
To get the ACCA certification, you are required to complete 13 exams and have relevant work experience. The 13 exams include an array of topics, such as financial reporting, audit and assurance, taxation, financial management and business analysis. These are computer-based exams, and there is a time period to complete the ACCA course, i.e., 10 years.
Components of the ACCA Course
There are three key components of the ACCA course, which include:
- Applied Knowledge: This section contains three papers that provide a broad understanding of accounting principles, financial management, and business ethics.
- Business and Technology (BT)
- Management Accounting (MA)
- Financial Accounting (FA)
- Applied Skills: The Applied Skills component contains six papers that emphasise innovative topics such as taxation, financial reporting, audit and assurance, performance management and financial management.
- Corporate and Business Law (LW)
- Performance Management (PM)
- Taxation (TX)
- Financial reporting (FR)
- Audit and Assurance (AA)
- Financial Management (FM)
- Strategic Professional: The final component of the ACCA course has two different sections - Essentials and Options. The Essentials section consists of three papers that focus on advanced topics in corporate reporting, business analysis and advanced financial management. The Options section allows candidates to select two out of four papers, that cover topics such as advanced taxation, advanced performance management, advanced audit and assurance, and advanced financial management.
Essentials –
- Strategic Business Leader (SBL)
- Strategic Business Reporting (SBR)
Options –
- Advanced Financial Management (AFM)
- Advanced Performance Management (APM)
- Advanced Taxation (ATX)
- Advanced Audit and Assurance (AAA)
ACCA Course Eligibility Requirements
The following are the basic ACCA course eligibility criteria:
- For students who have no formal education and do not meet the minimum criteria for the ACCA qualification, they can apply for the ACCA Foundation. Once they pass the ACCA Foundation diploma course, they can apply for the main ACCA certification exam.
- Students with class 12 qualifications must have scored more than 65% in subjects like English, Mathematics and Accounts. Besides, they must have scored more than 50% in the other subjects.
- It is important for candidates to show proof of identification and submit the required documents before sitting the exam.
- Depending on the candidates’ educational qualifications, they may be eligible for certain ACCA exemptions (up to 9 papers). The exemption details are mentioned below.
| Qualifications | Number of Papers to Give | ACCA Exemptions |
| Completion of Class 12th | 13 Papers* | NIL |
| B.COM. | 9 Papers | BT, MA, FA, LW |
| M.Com. | 9 Papers | BT, MA, FA, LW |
| CA IPCC (Both Groups) | 8 Papers** | BT, MA, FA, TX, AA |
| CA | 4 Papers** | BT-FM (9 subjects) |
What is the ACCA Salary in India?
As they begin their careers in the field of accounting and finance industry, ACCA candidates get a good salary package. The ACCA salary package in India ranges from Rs. 7 lakh – Rs. 19 lakh. Some of the top companies that hire ACCA candidates are BDO, Grant Thornton, J. P. Morgan and Morgan Stanley.
What are the Job Roles After ACCA Qualification?
There are plenty of job opportunities available for ACCA members that are offered by the accounting and finance industry. Additionally, in today’s fast-paced world, the demand for ACCA candidates is rising because of their updated knowledge and skills. So, here is a list of the most popular job roles after ACCA qualification.
- Management Accountant
- Credit Controller
- Tax Specialist
- Forensic Accountant
- Auditor
- Financial Accountant
- Finance Manager
- Corporate Treasurer
- Chief Financial Officer
Conclusion
The ACCA course offers you a path to global recognition, career opportunities and specific skills in the field of accounting and finance. By understanding the ACCA course details, you can make a successful career in the accounting sector. The course assists you in accomplishing this certification in a well-versed manner.
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