ACCA, or the Association of Chartered Certified Accountants, is a leading international accountancy body. This global body offers candidates with the Certified Chartered Accountant certification.
For people aiming to take their finance career to the next level, an ACCA certificate can be an exceptional choice!
Besides extending an in-demand curriculum to keep up with the changing financier trends, it is acknowledged in various countries, such as the UK, Ireland, EU, Canada, Australia, New Zealand, and more, making it even more attractive to pursue.
Let’s dive in to explore the ACCA course in depth.
What is ACCA?
ACCA is the world's oldest and most significant accounting association, formed in 1904 in the UK. It offers the fastest and first entryway into the critical functioning of management and financial accounting.
ACCA training prepares a candidate in business foundations with a focus on international finance and accounting. It has around 117 offices with 500,000 members and students from almost 180 countries. On completing this certification, the regulatory body offers candidates the Chartered Certified Accountant designation.
The ACCA Course has been designed not only to prepare candidates for any business management or financial role but also to work as qualified and valued accounting professionals globally.
Advantages of ACCA qualification
Let us take a look at some of the advantages of acquiring an ACCA certification:
- It provides better employment opportunities since candidates have acquired the necessary knowledge.
- Candidates who clear all the examinations are designated as Chartered Certified Accountants.
- It helps candidates get employment in senior management positions as the employers are assured they have the relevant skills.
- Candidates are trained not only in finance and accounting, but they also gain necessary skills in strategy building and organisational management.
- The qualification is built on international auditing and accounting standards and is IFAC compliant.
- Completing the ACCA course is equivalent to completing a full university degree.
Who should pursue the ACCA course?
Here is a list of individuals who can pursue the ACCA certificate course:
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10+2 pass-outs who want to build a career in accounting
ACCA has a flexible, student-friendly learning examination system, which gets you off the block. It also prepares you for roles apart from accounting to build a long-term career.
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Graduates who want to build a career in accounting
As candidates with prior qualifications get several exemptions, the ACCA course is a cheaper and faster way to prepare for multiple roles and open doors to international opportunities.
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Experienced professionals
The ACCA program will help you refresh old concepts and prepare for strategic roles if you already work in finance and accounting.
Eligibility criteria
The necessary eligibility criteria for getting ACCA certified are:
- Cleared 12th standard with 65% in Mathematics/Accounts and English.
- Minimum 50% in other subjects.
An essential characteristic of ACCA is that, unlike CA, candidates are offered exemptions. This means candidates with existing qualifications or training may only have to take some of the exams to get the ACCA certificate.
Candidates can start their ACCA journey based on their existing skills and knowledge.
Exemptions are only offered if the candidate has obtained the relevant qualification recently. The past qualification must not date back more than a decade. Also, exemptions are offered only on recognised qualifications.
Let us take a look at the ACCA exemptions:
| Qualification | No. of exams to appear | Exemptions offered |
| Passing 10+2 | 13 | 0 |
| Commerce graduate | 9 | 4 |
| M.Com | 9 | 4 |
| CA | 4 | 9 |
| CA IPCC | 8 | 5 |
Path to ACCA qualification
To become ACCA certified and become a member of the association, a candidate must:
- Complete 13 examinations (exemptions are offered based on the candidate’s previous qualifications).
- Gain at least 36 months of relevant practical work experience in a relevant role. Candidates can gain experience before, during, or after the qualification.
- Complete the Professional Skills and Ethics module.
Exam pattern
The exam pattern of ACCA has been summarized below:
| Foundation level | Applied knowledge level | Applied skills level | Strategic professional level | |
| Exam duration | 2 hours | 2 hours | 3 hours | 4 hours |
| Passing marks | 50% | 50% | 50% | 50% |
| Total marks | 100 | 100 | 100 | 100 |
Skills necessary for ACCA students
Building a successful career in finance and accounting can be highly fulfilling and dynamic when approached strategically. To excel in your role, it's essential to acquire a set of sought-after skills, which are outlined below:
- Quantitative ability: Candidates must deal with numbers and calculations to offer actionable business insights.
- Accounting knowledge: Candidates must know accounting rules, laws and standards.
- Communication skills: Sound communication skills are necessary to correspond with stakeholders.
- Decision-making: With sharp judgement, these candidates can help their organisations make sound business decisions and prevent losses.
Conclusion
The ACCA course has been designed to make aspiring candidates well-versed in finance and accounting. Whether you are a 12th-grade pass-out with a knack for accounts or an experienced professional, ACCA can be your ticket to a thriving career in accounting.
Check out the Association of Chartered Certified Accountants course by Imarticus if you plan to pursue the certification. From ACCA-qualified faculty and comprehensive study materials to placement bootcamps, here’s your chance to advance your accounting career.
