What is ACCA? Overview, Full Form, Course Details, Fees

In today’s world, where businesses and finances are impacted by globalisation, it is important for accounting professionals to hold such a qualification, which is recognised internationally. And one such course is ACCA (Association of Chartered Certified Accountants), which offers a way for accounting aspirants to become world-class professionals. ACCA not only provides you with a qualification; instead, it also equips you with the necessary technical skills, ethical understanding, and the basics of business to help you become a successful accountant. ACCA is one of the most respected and largest recognised accounting bodies in the world.

Here in this blog, we have given an overview of the course along with its full form, course details, eligibility criteria, fee structure, and why you should choose this course so that you can make an informed decision and move forward with the option that suits you best.

Overview of ACCA

ACCA (Association of Chartered Certified Accountants) is a professional accountancy body that offers the Chartered Certified Accountant qualification. It is a global body with members from 180+ countries and equips the accounting students with the skills and knowledge necessary to work successfully in the international financial industry.

Importance of ACCA:

Since ACCA is one of the most respected bodies for finance and accounting, it is quite important for us to understand why ACCA is necessary.

• Globally Recognised: The ACCA-qualified professionals can easily work in over 180+ countries, enabling their increased mobility, thus improving their global career prospects.
• Increased Comprehensive Skill Set: Having just the knowledge of accounting is not enough for such professionals who aim for global bonds. This is where ACCA comes into the picture, since it not only targets the accounting technicalities but also emphasises business ethics, business strategy, leadership, and professional values.
• Demand in Industry: Since every employer needs a professional with high ethical standards, strong strategic thinking, and excellent financial expertise, ACCA fulfills all such requirements successfully.

Course Details:

Levels of ACCA Examination:

ACCA is divided into three levels, namely Applied Knowledge, Applied Skills, and Strategic Professional, which need to be qualified by the accounting aspirants to get the Certified Chartered Accountant Certificate from the concerned authorities.

• Applied Knowledge: This level includes 3 papers, such as Business & Technology, Financial Accounting, and Management Accounting.
• Applied Skills: This level of the certificate includes 6 papers, like Corporate & Business Law, Taxation, Performance Management, and Financial Reporting.
• Strategic Professional: This part includes 4 papers, including 2 compulsory papers and 2 optional papers.

Eligibility Criteria for ACCA:

In order to be eligible to appear for the ACCA examination, a candidate must meet the following criteria:

• To register for the ACCA examination, a candidate must have qualified for class 12th with an aggregate of 65% marks in mathematics or accounting and English language, along with a minimum of 50% marks in other subjects.
• Such candidates who have just passed their class 10th examination must pursue a diploma course in ACCA Foundation in order to be eligible for the certificate examination.

Number of Exams for ACCA:

The ACCA exam is conducted four times a year, i.e., in March, June, September, and December, in both online and offline modes, depending on the level you are appearing for. It has 13 total exams with some exemptions (applicable as per eligibility criteria), along with the Ethics & Professional Skills exam, which is designed to cultivate ethical judgement and professionalism awareness.

Duration of ACCA:

The duration of this certification qualification depends completely on the ability of the aspirants. Many candidates are able to complete this in 2 to 3 years, while some take a longer duration based on their abilities.

Exemptions for ACCA:

ACCA exams are quite tough, but there are several exemptions that are available for candidates who wish to pursue this course. These exemptions are available on the basis of a candidate’s qualifications. To give you an idea of the same, here we have mentioned some qualification-wise exemptions:

• Class 12th Students: Such aspirants who have passed class 12th are exempted from the Foundational Diploma course.
• B.Com or M.Com Students: Those students who have successfully passed their B.Com or M.Com examinations are exempted from the knowledge level exam of ACCA, like the Management Accounting and Business and Technology exams. Apart from this, they will also be exempted from the business law exam in the skill level stage.
• Qualified Chartered Accountant Examination: Aspirants who qualify for the CA examinations are exempted from 9 examinations out of the total 13 exams that a candidate has to appear for. They are also exempted from the skill level and knowledge level exam and have to appear only for 4 exams at the professional level.
• Qualified Chartered Accountant Inter Examination: Aspirants who have passed their CA Inter level examination are also exempted from 4 exams, including Management Accounting, Taxation, Financial Accounting, Business and Technology, Audit, and have to appear only for 8 exams.

Fees of the ACCA Course:

The fees for ACCA vary for Indian and international institutes. If we talk about the estimated cost for the examination fee in India, then it can be in the range of Rs. 2.5 Lakhs to Rs. 3 Lakhs, while the tuition fee along with study material is somewhere between Rs. 2.7 Lakhs to Rs. 4.3 Lakhs.

Factors Affecting Fees of ACCA:

• Number of attempts: As the number of attempts increases, the total cost for the course also increases.
• Coaching choices: If you choose to go with the self-study, then the fee may be reduced, while if you opt for classroom or live online coaching, then it will increase the fees.
• Exemptions Available: Since exemptions are available to some candidates, if you appear for fewer exams, then you automatically have to pay a lower fee.
• Duration of Course: The longer the time you take for the exams, the more expenses you have to bear for the completion of the course.

Career Opportunities After ACCA:

ACCA is one of the most popular and prestigious certifications preferred by accounting students both in India and abroad. Candidates who qualify for ACCA are hired by top-most reputed companies like PwC, KPMG, Deloitte, Grant Thornton, and EY for roles of risk management, accounting advisory, statutory audit, mergers and acquisitions, internal audit, forensic auditing, and much more.

Job roles of ACCA:

• Audit & Assurance Manager
• Finance Manager
• Risk Manager
• Tax Consultant
• Compliance Manager
• Business Analyst
• Corporate Treasurer

Salary of ACCA Professionals:

In India, the salary of a fresher ACCA professional ranges from Rs. 4 lakh to 8 lakh, depending on their potential, the location of the employer, and their skills. While if we talk about professionals working abroad, then the salary increases accordingly. Here we have given a rough idea of the salary an ACCA professional may get.

Why Choose Sharda University for ACCA?

Opting for the best and most appropriate educational institute for your ACCA course can be quite tricky, but at Sharda University, we simplify it for you and help you to achieve your goals through the following means:

• Sharda University is globally recognised and hence provides you with an edge over other candidates.
• At Sharda University, we integrate ACCA with your degree, thereby enhancing your mobility and potential.
• ACCA at Sharda opens doors for students both in India and abroad.

How to Start ACCA at Sharda University?

In order to start your ACCA course at Sharda University, you need to follow the steps below:

1. Check your eligibility criteria,
2. Register for ACCA,
3. Plan your course of choice,
4. Choose the learning mode (online/offline mode),
5. Complete Your Modules,
6. Fulfill Your Professional Eligibility Requirements,
7. Prepare For Your Exams.

Conclusion

Pursuing the ACCA is one of the most important and crucial steps for anyone who aims for a career in accounting or finance. And if you opt to pursue your dream with Sharda University, then the sky is the limit for your dreams. With well-structured levels, global affiliations, and a strong focus on ethics and business training, ACCA at Sharda University opens doors for your global ambitions.

Start your ACCA journey with a strong yet structured plan with a complete support system from Sharda University. With your consistent effort and our dedication to your growth, you can become a globally qualified accounting professional in the 21st-century business world.