What is ACCA : Eligibility, Course Details, Certificate, Jobs & Salary

Association of Chartered Certified Accountants is the name of the organisation. ACCA is a worldwide accounting organisation that was founded in 1904 and provides “Certified Chartered Accountant” accreditation.  The length of an ACCA course varies depending on the students’ educational background. The ACCA programme lasts three years for students who have finished their 12th grade, two to two and a half years for commerce graduates, two years for IPCC groups, and one year for B.Com and CA graduates.

According to the ACCA eligibility requirements, students must be at least 18 years old, have finished the 10+2, and have an overall score in math/accounting and English of 65%, as well as an overall score in all other disciplines of at least 50%. Students earning BCom, BBA, BMS, and other business- or commerce-related degrees may also apply for the ACCA course concurrently with graduation. The identical ACCA qualifying requirements are accepted and followed by all universities and institutes.

Given below are the important details of the ACCA course program:

• With over 200,000 members and 600,000 students in over 180 countries, the Association of Chartered Certified Accountants, or ACCA as it is more often known, is a certification programme that is widely recognised.
• Students who desire to pursue a successful career in accounting greatly prize the ACCA, which is one of the most respected certificates in the sector.
• Since ACCA is one of the most recognised degrees, it is relevant to every nation.
• The ACCA is a high-level professional qualification based on worldwide accounting and auditing standards that is equal to receiving a full university degree.
• The student’s degree programmes, such as B. Com, BBA, etc., can be pursued concurrently with the ACCA course. It can even be added to the degree programme itself.
• The extremely flexible exam structure provided by ACCA makes it a desirable option for candidates seeking or already holding a graduate degree.
• 13 necessary tests for ACCA must be passed in a maximum of 7 years.
• Financial statements, managerial accounting, business taxation and regulations, audit, and business ethics are all covered by the ACCA certification.
• The ACCA syllabus is both industry-relevant and internationally recognised, giving students a fantastic opportunity to start a career in accounting and finance.

The following are the requirements for enrollment in the ACCA course:

• Students must be older than 18 years old.
• For students to be eligible for an ACCA course, they must at least have fulfilled the 10+2 requirement.
• Students must have received at least 65% in both English and Accounts/Mathematics.
• For students to be eligible for the ACCA course, all other subject grades must be at least 50%.

There are two modes for admission into ACCA Course, which are as follows:

1. Merit-based
2. Entrance Exam Based

ACCA often does not demand entrance tests. To offer ACCA admissions, some colleges, on the other hand, administer entrance tests. The following is a list of the exams required for admission to ACCA courses:

The detailed admissions procedure used by institutions like Apeejay Stya University in Gurgaon, which offers merit-based ACCA admissions, is provided below:

Step 1: Fill out and submit the application form in some colleges only accept online applications, while others accept both. Students must fill out the application form either online or offline.

Step 2: Upload documents: After filling out the required fields on the application form, students must scan and upload the necessary documents to the admissions portal for admission and verification.

The third step is paying the application cost, which differs from college to college. Then, by SMS or email, they will get their application number.

Step 4: Application review and shortlisting of candidates: The admissions staff at the university will choose applicants after analysing student applications to see whether they fit the requirements. These students will now be contacted in order to take part in group discussions and rounds of personal interviews (PI).

 Step 5: Group discussions (GD) and individual interviews constitute.Some universities hold GD and PI rounds to find out more about the candidate’s background and character in light of the standards the university has for its students.

The detailed admissions procedure used by universities like Christ University, Bangalore, which offers ACCA admissions based on entrance exam, is provided below:

First, complete and submit the application form.

Step 2: Upload the required files.

Step 3: Pay the application fee.

Step 4 : Register for the entrance exam in step four. The student must register for the entrance exam before the deadline if the institution to which they have applied does not automatically do so.

Step 5 : Candidate shortlisting in step five: The university will choose students based on the outcomes of the entrance exams. The persons who made the short list will be contacted for additional verification.

Step 6 : Only those applicants who have been shortlisted will be contacted for personal interviews and document verification. Candidates that are judged eligible will be admitted to the course.

ACCA Syllabus

The syllabus for ACCA is divided into 13 exams and 3 course levels, which are:

1. Knowledge
2. Skills
3. Professional

The detailed ACCA subjects for each level are given below:

ACCA Subjects: Knowledge Level

ACCA Subjects: Skills Level

ACCA Subjects: Professional Level

Candidates must present proof of 36 months of pertinent experience after completing all 13 ACCA tests. applicants should also complete the Ethics and Professional abilities Module, which helps applicants develop all the abilities that companies look for.

Given below is the list of the ACCA papers, which candidates must clear to earn ACCA certification:

1. Audit and Assurance (AA)
2. Taxation (TX) 
3. Performance Management (PM)
4. Financial Reporting (FR)
5. Financial Management (FM)
6. Advanced Audit and Assurance (AAA)
7. Advanced Taxation (ATX)
8. Advanced Performance Management (APM)
9. Strategic Business Reporting (SBR) 
10. Advanced Financial Management (AFM)
11. Strategic Business Leader (SBL)
12. Advanced Taxation (ATX)
13. Corporate and Business Law (LW)

ACCA Exemptions

Depending upon the qualifications, there are certain exemptions for ACCA Exams for students, which are listed below:

ACCA Course Comparison

This section compares the ACCA course to related programmes like CA, CS, and CPA in terms of prerequisites, length, cost, eligibility, admission, and other important elements.

ACCA vs CA

A globally recognised accreditation for accounting education is the ACCA. Similar accounting credentials are offered in India by the ICAI through the Chartered Accountancy (CA) programme. Knowing the differences between ACCA and CA can help you decide which is the better option for you.

ACCA vs CS

The Company Secretary (CS) degree focuses exclusively on the financial and legal aspects of a corporation, whereas the ACCA course prepares students to be financial officers and accountants. The two courses are thoroughly compared here in terms of prerequisites, length, prices, admission requirements, and more:

ACCA vs CPA

The tabled form below details the distinctions between the ACCA and Certified Public Accountants (CPA) programmes in the USA based on factors including prerequisites, tests, length, costs, typical salaries, and more: 

ACCA Scope 

ACCA professionals are in high demand both domestically and internationally, including in India.

The famous companies Ernst & Young, PricewaterhouseCoopers, KPMG, HSBC, Standard Chartered, and others are hiring graduates with an ACCA degree.

The profiles that are open to ACCA-qualified students in India include accounting advisory, risk advisory, corporate finance, audit and assurance, internal audit, taxes, and investment advisory, among others.

These job offers are on par with those made to Indian CAs who have the same title, profile, and remuneration.

Higher Studies after ACCA Course

• After completing their ACCA course, students have the choice of continuing their study in India or abroad. After completing the ACCA course, students have several options for higher education, including:
• Globally accessible postgraduate degree in finance called “Chartered Financial Analyst” (CFA USA).
• The Chartered Institute of Management Accountants (CIMA UK) provides training and certification in management accountancy and allied subjects with an emphasis on accountants who are already working in the industry. Additionally, it provides members with ongoing training and help.
• Many people regard the Institute and Faculty of Actuaries (IFoA) exam to be the most difficult finance exam in the world. It is the only chartered professional organisation in the UK devoted to training, developing, and regulating actuaries based both in the UK and globally.
• Practically every major bank and corporation in the world seeks candidates with Financial Risk Management (FRM US) certification, the highest credential for risk managers. It is only provided to those who can demonstrate that they have the abilities and know-how required to anticipate, handle, and adjust to urgent risk circumstances.

ACCA Careers

• Students who earn a chartered account that is ACCA accredited are equipped for senior management jobs and can quickly advance to more senior roles like Chief Financial Officer (CFO).
• The initial ACCA pay might range from INR 3.5 to 4 LPA, and there are excellent potential for lucrative opportunities in the future.
• After completing an ACCA course, one can choose from up to 18 different employment profiles, each of which offers a variety of positions. Nevertheless, there are several career paths available in the field of accounting.

ACCA Jobs and Salary

ACCA Salary in India

Given below is a list of ACCA job profiles and ACCA salary in India in a tabular form:

Here is a list of the top recruiters that hire ACCA course graduates:

• Ernst & Young (EY)
• Deloitte
• Klynveld Peat Marwick Goerdeler (KPMG)
• Pricewaterhousecoopers (PwC)
• Grant Thornton
• BDO

An ACCA professional can work as a management consultant, financial planner, and other positions in addition to being an accountant. Aspects of Chartered Accountancy such as Accounting, Financial Reporting, Auditing, Taxation, Business Finance, and Financial Management are covered by the ACCA course.

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