In this blog, we are going to focus on the students who have cleared their class 12th exams from any board in India and are considering their career options after class 12th.
We are going to talk about a really good career option which can give you multiple qualifications, the opportunity to work abroad, and a lot more. The course is called ACCA - Association of Chartered Certified Accountants.
The very first question that comes to mind after hearing the name ACCA is what is ACCA? ACCA is an international professional course.
ACCA is a professional course like Chartered Accountancy (CA), Company Secretary (CS), and Cost and Management Accountant (CMA) except it is an international course.
ACCA is a global professional accounting body formed in 1904. It is a fast-growing international accountancy organization currently having 2,19,000 members and 5,27,000 students in 180+ countries including India.
Now that you know what ACCA is the next question that arises is Why ACCA? First of all, ACCA is a globally recognized course. You would not be restricted to just one country and have the option of working in any country of your choice.
Secondly, if you are doing ACCA, you can earn multiple degrees, such as a Diploma in Accounting and Business, Advanced Diploma in Accounting and Business, B.Sc. Honours in Applied Accounting, Master’s in Professional Accountancy, Global MBA, and also ACCA.
ACCA has a flexible study pattern. Due to the current pandemic, students can give approximately 9 exams out of 13 exams at home. Along with that, the course curriculum of ACCA is very impressive in the sense that it not only focuses on theoretical and somewhat practical learning but also on the skills required to be an apt professional.
ACCA has complete transparency when it comes to the exams. The first four papers of ACCA are computer-based objective type papers and you would not have to wait for days to get your result as you will get instant results.
The remaining papers, Paper 5 to Paper 13, are objective type as well as descriptive type papers. These papers are checked manually as well as computerized.
ACCA provides multiple qualifications. When a student clears the first three exams of ACCA they are awarded a Diploma in Accounting and Business. After clearing nine more exams including the previous three, they get an Advanced Diploma in Accounting and Business.
Students can also get a B.Sc. honours degree in Applied Accounting awarded by Oxford Brookes University by submitting a Research Report. Similarly, students can also earn an M.Sc. in Professional Accountancy awarded by the University of London.
Once students have cleared all the levels of ACCA - Applied Knowledge Level, Applied Skills Level, and Strategic Professional Level, they can become an ACCA affiliate. Upon completing three years of practical experience they can become an ACCA member.
There are a total of thirteen papers distributed among three levels in ACCA. These three levels are called - Applied Knowledge, Applied Skills, and Strategic Professional.
There are three exams in Applied Knowledge Level, six exams in Applied Skills Level, and four exams in Strategic Professional Level.
The first level of ACCA is called the Applied Knowledge Level. There are three exams at this level - Business and Technology (BT), Management Accounting (MA), and Financial Accounting (FA). All these exams are objective type with computerized checking.
The exams are on-demand that is, if you think your Business and Technology (BT) exam is prepared, you can register yourself and give this exam. There is no need to give all the exams of a level together, you can give one exam at a time as well.
The second level of ACCA is called the Applied Skills Level. This level contains six exams - Corporate and Business Law (LW), Performance Management (PM), Taxation (TX), Financial Reporting (FR), Audit and Assurance (AA), and Financial Management (FM).
The first exam, Corporate and Business Law (LW), is similar to the Applied Knowledge Level exams. It is an objective type exam and can be given on demand and students will get instant results.
The rest of the exams of Applied Skills Level are a combination of Objective type as well as descriptive type. The ratio of objective questions to descriptive questions in all the exams except Audit and Assurance is 60:40, that is, 60% of the paper is objective type and 40% of the paper is descriptive type.
Whereas in the Audit and Assurance exam the ratio of the objective question to subjective question is 40:60, that is, 40% of the paper is objective and 60% of the paper is subjective.
All the objective parts of the exams have computerized checking and there is no manual checking in this part.
The last level of ACCA is called the Strategic Professional Level. There are a total of six papers at this level out of which students have to take any four papers. The six papers are - Strategic Business Leader (SBL), Strategic Business Reporting (SBR), Advanced Financial Management (AFM), Advanced Performance Management (APM), Advanced Taxation (ATX), and Advanced Audit and Assurance (AAA).
Of these papers, the first two papers, Strategic Business Leader (SBL), and Strategic Business Reporting (SBR) are mandatory. From the remaining four papers, Advanced Financial Management (AFM), Advanced Performance Management (APM), Advanced Taxation (ATX), and Advanced Audit and Assurance (AAA), students have to choose any two.
So, in total students have to give four exams at the Strategic Professional level.
Apart from the modules for all the three levels, the curriculum of ACCA also includes Ethics and Professional Skills Module along with Practical Experience requirements.
ACCA has a unique course curriculum. Along with focussing on theoretical and practical knowledge, ACCA also focuses on Interpersonal skills. For this, the ACCA curriculum included an Ethics and Professional Skills module.
This module focuses on the complete range of skills that employers need in a candidate. The Ethics and Professional Skills module is mandatory.
ACCA requires three-year practical experience. The best thing about this experience is it can be either before, during or after the ACCA exams.
If you are a class 12th student then the experience will be during and after the ACCA exams but if you are someone who is a working professional and has experience in the fields related to the core subjects of the ACCA then your experience will be counted in calculating the three-year practical experience requirement.
Unlike other courses, you don’t need the training to qualify for the exam. If you have cleared all the papers of ACCA you can get a job of around ₹40,000 to ₹50,000 per months depending on your skills.
The experience you will gain in your job will be counted as practical experience. And once you complete the three years of practical experience you will become a qualified ACCA member.
While applying for a course it becomes very important to look at the passing rate in the course in order to analyze whether it is worth going in that particular course or not. The pass percentage in ACCA at all the levels is pretty remarkable.
For the Applied Knowledge Level, the pass percentage is 70% to 80%. The Applied Skills Level is 45% to 55% and at the Strategic Professional Level, it is 35% to 45%. The subject wise pass rate of ACCA is given in the table below -
|Subject wise Pass Rate of ACCA
|Applied Knowledge Level|
|Business and Technology (BT)||80% to 85%|
|Management Accounting (MA)||65% to 70%|
|Financial Accounting (FA)||70% to 75%|
|Applied Skills Level|
|Corporate and Business Law (LW)
||80% to 85%
|Performance Management (PM)||35% to 40%|
|Taxation (TX)||45% to 50%|
|Financial Reporting (FR)||45% to 50%|
|Audit and Assurance (AA)||35% to 40%|
|Financial Management (FM)||45% to 55%|
|Strategic Professional Level|
|Strategic Business Reporting (SBR) (Mandatory)||45% to 55%|
|Strategic Business Leader (SBL) (Mandatory)||45% to 55%|
|Optional Papers (Any two)|
|Advanced Financial Management (AFM)||35% to 45%|
|Advanced Performance Management (APM)||30% to 40%|
|Advanced Taxation (ATX)||35% to 45%|
|Advanced Audit and Assurance (AAA)||30% to 35%|
The passing criteria of the ACCA exam is per paper basis. There is no grouping or overall marks required to clear the exams. If you score 50% marks in a paper, you are said to have cleared that paper. Students need to clear the papers individually and not level wise.
The duration of the course depends on you, you can complete the course in as low as one and a half years. That being said, it is not mandatory to finish the course in one and a half years only but if planned properly can be done in eighteen months.
There are thirteen papers in total out of which four papers are on demand and the remaining nine papers are session-based. Except for the four on demand papers, the rest of the papers are held session wise.
There are four sessions of ACCA exams in a year. The sessions fall in the months of March, June, September, and December, that is, within a gap of three months.
You can give four papers in a session and eight papers in a year. So, students can attempt eight papers in the first year and after that, you can give the remaining five papers in the next two sessions. Though you can take more time if required.
ACCA is a global professional course which means it has its presence all over the world. The job opportunities for ACCA are available in the United Kingdom or Europe, India, Asia Pacific, Africa, Middle East, China, and America to name a few.
Some of the most prominent employers are looking to hire ACCAs. The Big Fours, that is, Deloitte, Ernst & Young (EY), KPMG, PricewaterhouseCoopers (PWC) hire ACCAs.
Apart from the big fours, major MNCs like Grant Thornton, Goldman Sachs, and many more companies are also hiring ACCAs both in India and abroad.
There are great opportunities for both qualified ACCAs and partly qualified ACCAs. The basic salary that a partly qualified ACCA gets is approximately 3 lakhs to 4.5 lakhs. This salary keeps increasing as you become an ACCA affiliate and ACCA member.
The highest salary offered to ACCA members in India is around 20,00,000 rupees per annum. ACCA requires similar skill sets as CA because of which ACCAs earn as much as CAs in India.
As members gain more experience and skills, the salary also increases. The highest salary offered to ACCA members goes up to £61,000 per annum or approximately 61,00,000 rupees per annum.
ACCA is a slightly expensive course but given the qualification it provides, and the duration of time it takes to clear ACCA, the money spent becomes an investment for a secure future.
The registration fee of ACCA is around 30 pounds, which is approximately 3,000 rupees but if you register for ACCA through Learn91 this registration fee is absolutely free as Learn91 is an authorized learning partner of ACCA.
What’s better? You also get a lot of additional benefits when you register through Learn91. So, go, check out Learn91 now!
At the knowledge level, which is the first level of ACCA, there are three subjects, which are, Business Technology (BT), Management Accounting (MA), and Financial Accounting (FA). The fees for each of the subject ranges from 6,000 rupees to 20,000 rupees.
But, if you take coaching from Learn91, the fees for the entire knowledge level is around rupees 8,000 to rupees 10,000 and it includes the registration fees.
The total fees a student has to pay for the knowledge level of ACCA varies and the current fees is mentioned in the table below:
|Paper Name / Particulars||Paper No.||Level|
|Accountant in Business||F1||Knowledge||8000|
|Management in Accounting||F2||Knowledge||8000|
|Paid to ACCA Institute||27000|
The total fees a student has to pay for the knowledge level of ACCA including the registration comes around rupees 42,000. But with Learn91, the coaching fees are very affordable. Students get classes from industry experts at a very reasonable price. You can check out the course fees for the knowledge level of ACCA by clicking the link here.
ACCA is a world-renowned course that has opportunities both in India and abroad. Applying for ACCA is an investment for the future. It is a course which can be completed in less duration of time as compared to many other courses.
For a student who is fresh out of school, ACCA becomes a very lucrative course. The best part is you can do ACCA along with your college and can comfortably finish it along with completing college.
With Learn91, the ACCA journey becomes easy as well as affordable. You can get quality classes at the most affordable prices.
Check out the classes provided by Learn91 here: Learn91 ACCA Classes