ACCA : Everything You Need To Know!
The Association of Chartered Certified Accountants) is the global body of professional accountants.
1. Few Interesting Facts About ACCA
- Chartered Certified Accountants are also known as Global Chartered Accountants.
- Accepted by 179 countries | 7571 employers.
- 219,000 members | 527,000 students.
2. Steps to become a Global Chartered Accountant
STEP I : Applied Knowledge Level
A) Exams to clear
- Accountant in Business (AB)
- Management Accounting (MA)
- Financial Accounting (FA)
After successfully clearing the aforesaid exams, 'Diploma Certificate from ACCA' certification is issued.
B) Fees : ￡ 80 per paper (applicable for early applicants only)
STEP II : Applied Skills Level
A) Exams to clear
- Corporate and Business Law (LW)
- Performance Management (PM)
- Taxation (TX)
- Financial Reporting (FR)
- Audit and Assurance (AA)
- Financial Management (FM)
After successfully clearing the aforesaid exams, 'Advanced Diploma Certificate from ACCA' certification is issued.
B) Fees: ￡ 106 per paper (applicable for early applicants only)
STEP III : Professional Level
A) Exams to clear (2 Essentials + 2 Optionals)
Essentials
- Strategic Business Leader (SBL)
- Strategic Business Reporting (SBR)
Options (Choose any 2)
- Advanced Financial Management (AFM)
- Advanced Taxation (UK) (ATX)
- Advanced Performance Management (APM)
- Advanced Audit and Assurance (AAA)
After successfully clearing the aforesaid exams, 'ACCA Affilicate' certification is issued.
B) Fees: ￡ 185 for SBL and ￡ 133 for others (including options). (applicable for early applicants only)
STEP IV : Ethics and Professional Skills Module (EPSM)
Under EPSM, a 20 hours module is to be completed.
Fees : ￡ 62
STEP V : Practical Experience Requirement (PER)
A student who has successfully met the above 4 steps, is finally required to undertake a 36 months of Practical Experience.
Step I + II + III + IV + V = ACCA Qualified Professional Accountant
Note: A registration fees of ￡ 79 needs to be paid in the beginning and an annual fees of ￡ 112 to be paid for Annual Subscription, to keep registration active.
3. Eligibility and Exemptions
A student as young as a High school pass-out (XIIth class) is eligible to start ACCA journey.
Further, ACCA also allows multiple exemptions:
- Commerce Graduate : Eligible for 4 Exemptions
- CA-IPCC Pass out : Eligible for 5 exemptions (Could avail upto 9 exemptions!)
- Chartered Accountant : Eligible for 9 exemptions
Check your exemption eligibility here.
Fees:
- Applied Knowledge Exams : ￡ 80 per exam
- Applied Skills Exam : ￡ 106 per exam
4. Exam details
- Exams are conducted every quarter in the months of March, June, September and December.
- On-demand exams
- Case study based papers (based on IFRS)
- 30 plus exam centers in India
- Pass percentage of over 50 percent
5. Opportunities
- Salary package of INR 5 - 9 Lac
- Accepted across industries in over 179 countries
6. Important Link
Senior Auditor at EY | ACCA Mentor
4 年Nicely put Abhishek J. Just a small correction though. At professional level, early entry fee of ￡185 is only for one subject, i.e. SBL. For remaining subjects including options, it is ￡133.
Audit Manager 3+ at EY Bahamas
4 年Interested