The Association of Chartered Certified Accountants (ACCA) is a prestigious organization for people who want to become experts in financial management.
The Association of Chartered Certified Accountants (ACCA) is a prestigious organization for people who want to become experts in financial management. ACCA goes beyond conventional education; it equips you to manage the financial pulse of an organization, ensuring its vitality and success.
From effective budgeting to devising strategies for financial advancement, ACCA provides you with the necessary tools to excel. Its adaptable structure allows you to customize your educational experience.
Overview of the ACCA Course & Eligibility Criteria
ACCA Course Overview
- A wide range of professionals and students can pursue the ACCA (Association of Chartered Certified Accountants) credential in India thanks to its flexible admission requirements.
ACCA Eligibility Requirements :
A wide range of professionals and students can pursue the ACCA (Association of Chartered Certified Accountants) credential in India thanks to its flexible admission requirements.
Academic Qualifications:
For those who have completed their 10+2 (higher secondary education), ACCA mandates that students have at least five distinct subjects, including English and Mathematics / Accounts, achieving a minimum of 65% in two subjects and over 50% in the remaining subjects.Students who do not meet these criteria can begin their studies with ACCA’s Foundation-level qualifications, which serve as a pathway to the ACCA qualification.
ACCA Subjects & Overall Examination Requirements
Navigating the ACCA examination path is similar to an extensive training program that transforms you into a finance specialist. Each examination is designed to assess your comprehension and your capability to apply that knowledge in practical situations –
Examinations at the Applied Knowledge Level:
- Business Technology (BT)
- Management Accounting (MA),
- Financial Accounting (FA)
These foundational exams assess your grasp of essential financial and business concepts.
Examinations at the Applied Skills Level:
- Corporate and Business Law (LW),
- Performance Management (PM),
- Taxation (TX),
- Financial Reporting (FR),
- Audit and Assurance (AA),
- Financial Management (FM)
These assessments are more intricate, demanding a higher level of understanding along with the capability to analyse and interpret data.
Examinations at the Strategic Professional Level:
- Strategic Business Leader (SBL),
- Strategic Business Reporting (SBR)
and two from the four Optional papers –
- Advanced Financial Management (AFM),
- Advanced Performance Management (APM),
- Advanced Taxation (ATX),
- Advanced Audit and Assurance (AAA)
To qualify as an ACCA graduate, you must successfully complete these 13 papers. The extent of these exemptions depends on your area of study, the institutions attended, and your academic credentials.
Structure, Duration & Timetable for ACCA Exams
ACCA Exam Structure, Timetable, and Duration
Exam Schedule
Because of the flexibility of the ACCA exam schedule, applicants can arrange their exams around their job and personal obligations. Four times a year, in March, June, September, and December, exams are administered.
When should your ACCA exams be scheduled?
You may efficiently arrange your study schedule because you can schedule your tests far in advance, usually up to 14 weeks before the exam date.
ACCA Exam Format & Length:
A fair and effective evaluation process is ensured by the demanding and rigorous ACCA examination framework, which primarily uses Computer-Based Exams (CBEs) for assessments.
Scheduled CBEs: Applied Skills and Strategic Professional levels are the focus of these tests, which are administered in March, June, September, and December.
Flexible CBEs: Mostly for Applied Knowledge and some Applied Skills level exams, they can be taken at any time of the year.
| Subject | Duration of the Examination | Exam Pattern |
| Business and Technology (BT) | 2 Hrs On-Demand CBE | This paper is divided into two sections. Section A consists of 35 objective type questions of 2 marks each. Section B contains three multi-task questions of 10 marks each. |
| Management Accounting (MA) | 2 Hrs On-Demand CBE | This paper is divided into two sections. Section A consists of 35 objective type questions of 2 marks each. Section B contains three multi-task questions of 10 marks each. |
| Financial Accounting (FA) | 2 Hours On-Demand CBE | The exam is structured into two sections. Section A includes 35 multiple-choice questions worth 2 marks each, while Section B features 2 questions valued at 15 marks each. |
| Corporate and Business Law (LW) | 2 Hours On-Demand CBE | This paper is divided into two segments. Section A includes 25 objective-type questions worth 2 marks each and 20 questions valued at 1 mark each. Section B comprises five complex questions worth 6 marks each. |
| Performance Management (PM) | 3 Hours Session CBE | This paper is structured into two sections. Section A contains 30 objective questions worth 2 marks each, and Section B features 2 constructed-response questions worth 20 marks each. |
| Taxation (TX) | 3 Hours Session CBE | This paper is divided into two sections. Section A consists of 30 objective questions valued at 2 marks each, while Section B includes 2 constructed-response questions worth 20 marks each. |
| Financial Reporting (FR) | 3 Hours Session CBE | This paper comprises two sections: Section A includes 30 objective questions worth 2 marks each, and Section B contains 2 constructed-response questions worth 20 marks each. |
| Audit and Assurance (AA) | 3 Hrs Session CBE | This paper is divided into two sections. Section A consists of 15 objective questions of 2 marks each, and Section B consists of two 20 marks and one 30 marks constructed response workspace question. |
| Financial Management (FM) | 3 Hrs Session CBE | This paper is divided into two sections. Section A consists of 30 objective questions of 2 marks each, and Section B consists of 2 constructed-response workspace questions of 20 marks each. |
| Advanced Financial Management (Optional) | 3 Hrs Session CBE | It is a subjective paper with only 1 section consisting of two 25 marks questions and one 50 marks questi |
| Advanced Performance Management (Optional) | 3 Hrs Session CBE | It is a subjective paper with only 1 section consisting of two 25 marks questions and one 50 marks question. |
| Advanced Taxation (Optional) | 3 Hrs Session CBE | It is a subjective paper with only 1 section consisting of two 25 marks questions and one 50 marks question. |
| Advanced Audit and Taxation (Optional) | 3 Hrs Session CBE | It is a subjective paper with only 1 section consisting of two 25 marks questions and one 50 marks question. |
| Strategic Business Leader (SBL)- Compulsory | 3 Hrs Session CBE | It is a subjective paper with only 1 section comprising one 80 question 20 marks for professional skills. |
| Strategic Business Reporting (SBR)- Compulsory | 3 Hrs Session CBE | It is a subjective paper with only 1 section consisting of two 25 marks questions and one 50 marks question. |
Criteria for Achieving ACCA Qualification
A. Professional Experience
To qualify as an ACCA member, candidates must accumulate 36 months (three years) of applicable professional experience in finance or accounting sectors. This is referred to as the Practical Experience Requirement (PER).
The 36 months of required experience do not have to be consecutive or with a single employer, allowing for breaks in employment or shifts in job positions.
To meet the ACCA’s Practical Experience Requirement (PER), you are required to gain experience in one or more of the following areas:
- Financial Accounting and Reporting
- Management Accounting
- Taxation
- Finance and Financial Management
- Corporate and Business Law
- Performance Management
- Business Analysis
- Governance, Risk, and Control
- Leadership and Management
B. Additional Requirements
1. Ethics and Professional Skills Module: The Ethics and Professional Skills Module (EPSM) is an online course that you can undertake at your convenience after registering as a student with ACCA, but it must be completed prior to qualifying for ACCA membership.
- The module aims to enhance your professional development and increase your employability by exposing you to real-life ethical and business scenarios.
- It concludes with an assessment designed to evaluate your comprehension and application of the concepts learned.
- Upon successfully finishing the module and its assessment, you will receive a certificate of completion, which should be retained for your records as proof of your accomplishment.
2. Continuous Professional Development (CPD): As an ACCA member, you are required to engage in ongoing CPD to keep your knowledge and skills current, ensuring your continued competence in your position.
3. Membership Application: Upon completing your examinations, the ethics module, and PER, you are required to submit a formal application for ACCA membership.
4. Membership Fees: An annual subscription fee is required for you to become an ACCA member and to maintain your membership in subsequent years.
Overview of ACCA Fees
The fee structure for ACCA encompasses various elements, including those associated with exams, registration, and exemptions:
Registration Fee for ACCA
A one-time registration fee is approximately ₹ 8,400
Annual Subscription Fee for ACCA
The annual subscription fee is about ₹ 11,400, which is necessary to uphold your registration and maintain access to the various ACCA advantages, resources, and services.
Exam Fees
- Applied Knowledge Level – Each exam is priced at approximately ₹ 9,200.
- Applied Skills Level – The exam fee is around ₹ 13,700
- Strategic Professional Level – Exam fees for this segment can range from approximately ₹ 17,400 to ₹ 24,200.
Ethics and Professional Skills Module
The cost for this module is approximately ₹ 7,600
Exemption Charges
- Fee for Each Exempted Knowledge Exam: approximately ₹ 8,500
- Fee for Each Exempted Skill Exam: approximately ₹ 11,300
ACCA Pass Rates and Exam Challenge Level
The pass rates for ACCA examinations vary based on the specific paper and the session in which they are held.
Applied Knowledge Level:
- Business and Technology (BT): 86%
- Management Accounting (MA): 64%
- Financial Accounting (FA): 71%
Applied Skills Level:
- Corporate and Business Law(LW): 84%
- Taxation(TX): 54%
- Financial Reporting(FR): 47%
- Performance Management(PM): 40%
- Financial Management(FM): 49%
- Audit and Assurance(AA): 42%
Strategic Professional Level:
- Strategic Business Leader (SBL): 50%
- Strategic Business Reporting (SBR): 50%
Strategic Professional – Options:
- Advanced Audit and Assurance (AAA): 34%
- Advanced Financial Management (AFM): 45%
- Advanced Performance Management (APM): 34%
- Advanced Taxation (ATX): 48%
The typical pass rate for ACCA stands at approximately 55%, suggesting a reasonable level of difficulty. These examinations are rigorous and necessitate a substantial commitment of time, resources, and effort to successfully complete.
ACCA Level-Wise Keypoints
| Level | Exams | Fee (Approx. ₹) | Pass Percentage (Sept 2023) | Eligibility |
| Knowledge Level | – Business and Technology (BT) – Management Accounting (MA) – Financial Accounting (FA) | Registration Fee: ₹8,400 Annual Subscription: ₹11,400 Exam Fee: ₹9,200 Exemption: ₹8,100 to ₹11,520 | – AB: 86% – MA: 64% – FA: 71% | – 10+2 with 65% in Mathematics/Accounts and English, and 50% in other subjects |
| Applied Knowledge Level | – Corporate and Business Law (LW) – Performance Management (PM) – Taxation (TX) – Financial Reporting (FR) – Audit and Assurance (AA) – Financial Management (FM) | ₹10,600 to ₹11,600 (This amount represents only the examination fee and does not include the annual subscription or exemption fee) | – LW: 84% – PM: 40% – TX: 54% – FR: 47% – AA: 42% – FM: 49% | – Successful completion of Applied Knowledge Level examinations |
| Strategic Professional Level | – Strategic Business Leader (SBL) – Strategic Business Reporting (SBR) And two from the following four optional papers: – Advanced Financial Management (AFM) – Advanced Performance Management (APM) – Advanced Taxation (ATX) – Advanced Audit and Assurance (AAA) | ₹17,400 to ₹23,600 (This fee pertains solely to the examination and does not cover the annual subscription or exemption fee) | – SBL: 50% – SBR: 50% – AFM: 45% – APM: 34% – ATX: 48% – AAA: 34% | – Successful completion of Applied Skills Level examinations |
Career Paths & Employment Opportunities Following ACCA
Earning the Association of Chartered Certified Accountants (ACCA) qualification paves the way to numerous career paths across diverse sectors and industries. Below are some key observations:
Professionals holding an ACCA qualification are highly sought after in a variety of fields, spanning from automotive to cosmetics, hospitality, healthcare, retail, and beyond. Their proficiency in financial oversight and performance evaluation renders them essential contributors to businesses across all sectors.
Employment Roles
Here are some typical employment roles for individuals with an ACCA qualification:
- Financial Accountant – The role of a Financial Accountant involves documenting, summarising, and reporting the financial activities of a company to deliver a clear picture of its financial status.
- Management Accountant – A Management Accountant supports decision-making processes by assessing financial data to inform strategic planning and operational management.
- Financial Analyst – A Financial Analyst reviews businesses, projects, budgets, and other finance-related activities to assess their performance and investment viability.
- Finance Manager – A Finance Manager is tasked with ensuring the financial stability of an organisation by formulating strategies, conducting analyses, and overseeing efficient financial management practices.
- Corporate Finance Consultant – A Corporate Finance Consultant provides expert guidance on financial strategies, including mergers, acquisitions, fundraising, and optimizing capital structure to enhance an organization’s financial health and valuation.
- Fraud Analyst – A Fraud Analyst examines financial irregularities and potential fraud, employing accounting expertise to scrutinize financial data for legal matters and conflict resolution.
- Regulatory Compliance Specialist – A Regulatory Compliance Specialist ensures that a company complies with legal regulations and internal policies, mitigating risks and upholding the organization’s ethical standards.
- Wealth Management Advisor – A Wealth Management Advisor helps clients navigate their financial landscape by developing strategies to achieve long-term financial objectives, encompassing investments, savings, and retirement planning.
Opportunities for Career Advancement
Below are several key factors that underscore these growth potentials:
- Diverse Career Paths: ACCA graduates have the flexibility to pursue various career avenues in finance, accounting, taxation, advisory, and corporate finance, among others.
- Executive Roles: With experience, ACCA professionals can progress to high-level management positions, including Chief Financial Officer (CFO), finance director, or partner in an accounting firm.
- Professional Networking: The ACCA network encompasses a large community of professionals, which can enhance career progression through mentorship, job openings, and professional partnerships.
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Compensation Post-ACCA
Salary Insights Based on Experience
In India, professionals holding an ACCA certification are highly esteemed within the finance and accounting sector, with their remuneration reflecting their skills and position in an organization. Below is a breakdown of their earning potential and career advancement opportunities:
- Entry-Level (Fresh Graduate): Newly qualified ACCA affiliates usually earn between INR 4 to 5 lakhs per year.
- Mid-Level (Qualified Member): ACCA members with a few years of experience can expect an income ranging from INR 7 to 10 lakhs annually.
- Senior-Level (Experienced Professional): Professionals with extensive ACCA experience, especially those in senior roles or possessing over ten years of experience, can expect salaries ranging from INR 18 to 25 lakhs per year.
National Average Salary: The average annual salary for an ACCA professional in India hovers around INR 8 lakhs.
ACCA Average Salary For Different Job Roles
| Job | Average |
| Accountant | ₹3,50,000 |
| Finance Manager | ₹11,00,000 |
Assessing the Value and Return on Investment of ACCA
The expenses associated with obtaining an ACCA qualification in India may start from approximately ₹ 2,50,000 and can escalate based on the number of attempts required to pass the exams.
Determining if pursuing ACCA is ‘worth it’ is heavily influenced by personal career ambitions and individual situations.
At the start, ACCA newcomers can anticipate a salary in the range of ₹ 4 – 5 lakh. As they build their experience, the potential for annual earnings can be substantial.
Final Thoughts – Given its global recognition, ACCA provides access to international career opportunities, making it a valuable investment for those pursuing a career in international accounting.
Comparison of ACCA with Other Accounting Qualifications
ACCA Vs CA
| Feature | ACCA | CA |
| Global Recognition | Highly recognized internationally | Recognized mainly in the country of certification |
| Flexibility | Flexible exam schedules and study options | More structured with mandatory practical training |
| Exam Structure | Broad syllabus with global accounting standards | Focused on country-specific accounting standards |
| Job Opportunities | Wide-ranging global positions | Strong presence in key sectors, particularly in audit and taxation |
| Areas of Expertise | Diverse opportunities within finance and accounting | Targeted positions in regional financial services |
| Compensation Expectations (India) | ₹4 lakh to ₹7 lakh for entry-level positions; up to ₹35 lakh for seasoned professionals | Average salaries range from ₹9 lakh to ₹12 lakh; exceeding ₹20 lakhs for experienced candidates |
| Career Advancement | Ongoing education with an international lens | Focus on local financial standards and regulations |
ACCA Vs CMA
| Criteria | ACCA | CMA |
| Eligibility Criteria | 10+2 with English and Mathematics/Accounts; Graduates get exemptions | 10+2 from a recognized board; Graduation required for exam |
| Requirements to Complete | 13 exams, 36 months of experience, Ethics module | 2 exam parts, 2 years professional experience |
| Difficulty | Broad range of topics; considered more challenging | Focused depth in management accounting; analytical rigor |
| Career Paths | Variety of positions in finance, taxation, and advisory services | Financial management, strategic planning, and analysis of finances |
| Expenses | Estimated ₹2,30,000 | For Students: Approx ₹92,000; For Professionals: Approx ₹1,30,000 |
| Duration to Finish | Typically 3-4 years, with a maximum of 10 years permissible | Generally 18 months to 2 years |
| Typical Salary in India | Entry-level: ₹4-6 Lakhs; Senior-level: ₹10-20+ Lakhs | Entry-level: ₹5-7 Lakhs; Senior-level: ₹12-25 Lakhs |
| Career Outlook | Robust global demand, but must evolve with technological changes | Proficient in data-driven strategies, but at risk of excessive specialization |
Conclusion
The in-depth curriculum, which fuses theoretical insights with hands-on skills, readies you for the myriad challenges that await in the finance sector. The course’s inherent flexibility, along with its well-regarded global status, positions ACCA as an ideal and strategic choice for anyone looking to excel in the finance industry.
Additionally, the promising career opportunities, the extensive global community you join, and the ongoing learning and development paths available make investing in KS Academy an invaluable choice.
Frequently Asked Questions of the ACCA Exam
Is it possible to receive exemptions from any ACCA exams?
Absolutely! Individuals with qualifications such as CA, MBAs, or Accounting Technicians may be eligible for exemptions from certain ACCA examinations.
What does the Ethics and Professional Skills Module entail in ACCA?
This module is designed to cultivate essential professional behaviors that are necessary within the accounting field.
What types of positions can I obtain with an ACCA qualification?
With an ACCA qualification, you can pursue various career paths including roles such as Financial Accountant, Tax Consultant, Finance Manager, and more.