If you are looking towards a career in finance, accounting, or business, the ACCA qualification is one of the best options available to you today. The ACCA is accepted in over 180 countries and will help professionals with a global accounting knowledge base, practical skills, and an ethical mindset.
But before you start the ACCA course, you should know the key details of the ACCA qualification, including eligibility, course structure, duration, fees, and career prospects. In this article, we shall look at everything you need to know before starting the ACCA qualification.
Eligibility and Course Structure
One of the key contributors to the popularity of ACCA is its flexibility in entry requirements. Unlike many professional qualifications, you don’t have to be a graduate in finance to get started.
- Minimum entry criteria:You must have completed your 10+2 and had a minimum of 65% in Accounts/Mathematics and English and a minimum of 50% in all other subjects.
- Alternative entry criteria:If the previous requirements are not met, you can take the Foundation in Accountancy (FIA) and then progress to ACCA.
The ACCA course consists of three levels:
- Applied Knowledge:This includes the basics of financial and management accounting.
- Applied Skills:This includes the practical side to taxes, audit, performance management, and law.
- Strategic Professional:This is where you will develop your skills in financial management and strategic business leadership, as well as optional papers like Advanced Taxation or Audit, which is the end point of the ACCA course details.
Overall there are 13 papers, but you may have less due to exemptions based on qualifications you hold (for example, CA, B.Com, MBA, etc.).
Duration, Fees, and Exam Flexibility
Length of ACCA: the length required for ACCA varies depending on how often you sit for exams and the exemptions you are allowed to take.
- Average length:2–3 years for full-time learners, but you could take between 2 and 7 years to complete at your pace.
- Exam results:ACCA exams take place quarterly (March, June, September, and December), and some papers offer on-demand sitting options for students to design their own timetable.
- Passing requirement:50% on each paper.
Fees:
- Initial registration fees:now about £30–40 (INR 3,000 – 4,000).
- Annual subscription fees:about £120 (INR 12,000).
- Paper exam fees vary from £80 to £260 (INR 8,000 – 26,000) based on the level.
In total, the maximum costs in India could be somewhere between INR 3 and 4.5 lakhs if entering with exemptions/during coaching. It looks like a lot of money, but the global opportunities available to you in the future make it worthwhile.
Career Opportunities After ACCA
Upon completion of ACCA, you will have the distinction of being a professional globally recognised accountant, opening yourself up to a plethora of career options.
Below are some examples of what are considered to be exemplary career choices:
- Financial Analyst:Assisting various businesses in analysing and understanding data from which the business can make profitable decisions.
- Auditor:Ensuring compliance with various financial laws and standards.
- Tax Consultant: Advising on tax planning and structuring for both individuals and businesses.
- Business Consultant:Providing strategic insight into the business’s growth and the financial aspects of managing the business.
- CFO/finance manager roles: Over time, many ACCA members advance into senior management positions.
What makes ACCA unique is that your qualification is globally recognised. You can work in the UK, Canada, Singapore, UAE, Australia and many other nations without having to requalify. Additionally, ACCA members earn impressive salaries, typically starting in the range of INR 6–8 LPA in India, with considerably higher starting salaries abroad.
Additional Insight: Skills You Gain with ACCA
ACCA is not just about exams and technical knowledge; it sets out to prepare you for work. All this time you have spent taking ACCA papers, you will have developed soft skills also. You will have learnt to think critically and solve problems. As well as leadership and improved communication skills, all of which employers are after.
You will learn ethics and professional behaviour, and in doing so, you can distinguish yourself from a qualified accountant and position yourself as a responsible finance professional. By the time you finish the ACCA course, you will not just be a qualified accountant on paper; you will also be equipped to deal with challenging work-based situations associated with business management and finance. This melding of theory and action is what differentiates ACCA from other global qualifications.
Conclusion
The ACCA course details a professional qualification but also a door to international career possibilities in finance and accounting. It has plenty of routes in, globally recognised exams, and great career opportunities; it’s one of the most future-proof professional courses available.
However, to qualify through the ACCA takes discipline, planning, and pep. Are you interested in finance and dreaming of an international career? Then ACCA might be exactly what you are looking for to get you started.
