What is ACCA? - Complete Course Details in India

Last Updated On -03 Sep 2024

What is ACCA? ACCA full form is The Association of Chartered Certified Accountants. ACCA is a leading international accountancy body that offers the prestigious designation of a Chartered Certified Accountant qualification. With over a century of history, ACCA has grown to over 241,000 members and 542,000 students worldwide.

What is ACCA course? The ACCA course provides a strong foundation in accounting, finance, and management, and is recognized in many countries. In India, ACCA is considered equivalent to the CA course, and ACCA professionals are often hired at similar salary packages in many top international companies.

What is the ACCA Syllabus and Paper Pattern?

ACCA, as a course, encompasses various aspects of Chartered Accountancy, including Accounting, Financial Reporting, Auditing, Taxation, Business Finance, and Financial Management.

The ACCA Syllabus comprises a total of 13 examinations that candidates must undertake. These 13 exams are divided into 3 levels – Applied Knowledge, Applied Skills, and Strategic Professional. There are varied degrees of exemptions ranging from 4 - 9 subjects for aspirations who have qualifications like B.Com and CA, etc.

Applied Knowledge

The Applied Knowledge exams provide students with a broad introduction to the world of finance and develop their essential understanding and skills in accounting. These exams are:

F1 - Business and Technology (BT)
F2 - Management Accounting (MA)

F3 - Financial Accounting (FA)

Applied Skills

The Applied Skills exams build upon existing knowledge and understanding and develop strong, broad, and practical finance skills required of future strategic professional accountants in any sector or industry. These exams include:

F4 - Corporate and Business Law (LW)

F5 - Performance Management (PM)
F6 - Taxation (TX)

F7 - Financial Reporting (FR)
F8 - Audit and Assurance (AA)

F9 - Financial Management (FM)

Strategic Professional

The Strategic Professional exams prepare students for future leadership positions, developing a strategic vision through a unique blend of technical, ethical, and professional skills. And you can specialize in areas that best suit your career ambitions. Students must complete both Essentials exams (P1 - P3) and choose two of the Options from P4 - P7. P1 - P7 consists of four papers. These exams are:

P1 and P3 - Strategic Business Leadership (SBL)
P2 - Strategic Business Reporting (SBR)

P4 - Advanced Financial Management (AFM)
P5 - Advanced Performance Management (APM)
P6 - Advanced Taxation (ATX)

P7 - Advanced Audit and Assurance (AAA)

What is ACCA Eligibility Criteria?

Students who have completed higher secondary, +2 and are looking to embrace global opportunities in Finance. Graduates and postgraduates aspiring for a career in Accounting and Finance are also eligible. Given below is a detailed ACCA course eligibility criteria.

ACCA after 12th

Students who have completed higher secondary, +2, and are at least 18 years old. Apart from that, you must have obtained a minimum score of 65% in Math or Accounting as well as English, and a minimum overall score of 50% in your other disciplines. Various high school certificates, such as 10+2, ISC, Intermediate Certificate, etc., are considered valid.

ACCA after Graduation

Individuals who have obtained commerce degrees such as B.Com, BBA, or BMS are eligible to pursue the ACCA exams. Individuals who possess a Bachelor of Arts (BA) or Bachelor of Science (B.Sc.) degree from an accredited university are also eligible to pursue the Association of Chartered Certified Accountants (ACCA) qualification. However, they must first fulfil the requirement of obtaining the ACCA Foundation diploma.

ACCA after 10th

If you choose to pursue ACCA immediately after completing 10th grade, there is a designated program called the Foundation in Accountancy that is tailored for you. This course is designed for individuals who do not have a background in accounting and is primarily targeted towards those who have recently completed 10th grade. The three levels are Knowledge, Skill, and Professional. To obtain certification, it is necessary to complete a total of 13 examinations spanning several levels.

ACCA during and after CA

CA India and CMA India students who are midway through their journey, and Qualified professionals holding CA India, and CMA India certifications are also eligible to do ACCA with varied degrees of exemptions.

Exemptions in various subjects for candidates with different Degrees are available. The table below gives an accurate picture of the Exemptions:

DEGREE	EXEMPTIONS	SUBJECTS EXEMPTED
BBA	3 Exemptions	(BT, MA, FA)
B.Com	5 Exemptions	(BT, MA, FA, LAW, TX)
CA Intermediate without Graduation	5 Exemptions	(BT, MA, FA, TX, AA)
CA Intermediate + Graduation	6 Exemptions	(BT, MA, FA, LAW, TX, AA)
Qualified CA	9 Exemptions	(BT, MA, FA, LW, PM, TX, FR, AA, FM)

What is ACCA Fees for Various Subjects?

Various Exemptions from certain exams for candidates with diverse backgrounds are available. Here is a step-by-step breakdown of Registration, annual subscription, and Exemption fee details for admission:

Course	Initial Registration	Exemption Fee	Annual subscription
Plus two	9,000 INR	NIL	14,200 INR
B.Com (4 papers)	4,000 INR	6,900 INR	7,100 INR on First Year
B.Com (5 papers)	4,000 INR	19,600 INR	7,100 INR on First Year
B.Com (conditional exemption)	2,100 INR	NIL	NIL for First-Year
B.Com (6 papers)	4,000 INR	32,000 INR	7,100 INR on First Year
Other Degrees	9,000 INR	NIL	14,200 INR
CA Inter	4,000 INR	1,600 INR per exemption except for LW, PM, FR, and FM	50% Discount on First Year Subscription
CA Final	4,000 INR	1,600 INR per eligible exemption	50% Discount on First Year Subscription

ACCA Examination Fees

F1 to F3 - 11000 INR
F4 - 14750 INR
F5 to F9 - 14,250 INR Per paper
Professional level except for SBL - 17,940 INR per paper
SBL - 25,100 INR per paper

Fees vary according to the INR to Pound rates. Written above are the approximate figures.

ACCA Career Opportunities: Potential Jobs after ACCA

Securing a career path that is promising and has wide avenues of growth is essential for professionals seeking stability. Professionals equipped with the prestigious Association of Chartered Certified Accountants (ACCA) qualification, a world of opportunities awaits. From finance to management roles, ACCA professionals are highly sought after by a multitude of industries globally. The average ACCA salary starts from ₹12 lakhs in India and outside India, it starts at USD 60,000. Some of the career designations include:

Financial Accountant
Management Accountant
Tax Accountant
External Auditor
Internal Auditor
Financial Analyst
Financial Controller
Business Consultant
Treasury Manager
Risk Manager
Financial Advisor
Chief Financial Officer (CFO)
Forensic Accountant
Investment Analyst
Financial Planning and Analysis Manager

Frequently Asked Questions (FAQs)

What is ACCA meaning?

The Association of Chartered Certified Accountants (ACCA) is a globally recognized certification in accounting, finance, and business management. It equips professionals with skills needed for roles like financial management, audit, taxation, and business advisory services.

How many levels are there in the ACCA Course?

The ACCA Course consists of three levels: Knowledge, Skills, and Professional. Each level covers essential topics such as financial reporting, taxation, audit, and advanced financial management.

How long does it take to complete the ACCA course?

The ACCA course duration can vary from 1 to 7 years, depending on the individual's prior qualifications and the pace at which they complete the exams. The course is structured into three levels: Knowledge, Skills, and Professional. The majority of students complete the course between 18 months and 3 years.

What job opportunities are available after completing the ACCA qualification?

ACCA qualification opens doors to a variety of roles in the fields of accounting and finance. Job roles include Accountant, Auditor, Finance Manager, Business Analyst, Taxation Expert, and even positions like Chief Financial Officer (CFO). The ACCA Careers portal lists over 25,000 live vacancies globally, indicating a strong demand for ACCA professionals.