There are various professional courses for commerce background, one can look out for accounting, auditing, taxation, or advisory services but if you are looking for an all-in-one course with high demand that provides you exposure in all these fields together then you can go for ACCA. Full form of ACCA is “Association of Chartered Certified Accountants”. ACCA is a global professional body that provides students with a certification called “Certified Chartered Accountant”. It is globally recognized and covers a broader range of subjects, including management, business, and international taxation. Such a broad coverage makes it one of the most highly demanded courses in many countries.
ACCA Examination Structure:
ACCA is segregated into three levels, and you need to clear 13 exams to be qualified as an ACCA. However, students can avail themselves of various ACCA exemptions based on their prior education. Per say a BCom graduate is required to sit for 9 exams instead of 13 and a qualified CA is only required to clear 4 exams instead of 13. Refer details below to know the number of exams and subjects for each level:
- Level 1 is for Applied knowledge, that covers introduction to finance and essential accounting techniques. There are three exams for each of the three subjects which are Business and Technology, Financial Accounting, and Management Accounting.
- Level 2 is for Applied skills that focuses on building practical finance skills required for the future. You need to clear 6 exams, one each for:
- Corporate and Business laws
- Taxation
- Financial Reporting
- Performance Management
- Financial Management
- Audit and Assurance
- For level 3 there are six subjects in total but out of them you must give only four exams.
There are two mandatory subjects and out of the remaining four subjects, you can choose any two subjects of your choice. Let’s summarize the subjects below: - Mandatory Subjects are:
1. Strategic Business Reporting
2. Strategic Business leader
- Optional Subjects (Choose any 2 out of 4):
- Advanced Financial Management
- Advanced Audit and Assurance
- Advance Taxation
- Advance Performance Management
Eligibility to appear for ACCA and Enrolment Process:
ACCA is globally recognized in 180+ countries. You are required to follow the below guidelines to appear for the ACCA exams and pursue the course:
- You must be at least 18 years old to start the ACCA program and must have completed your 12th grade with a minimum of 65% and a minimum of 50% in all other subjects.
- For enrolment, you should register yourself at the official ACCA website with a simple registration process,
- You must pay the required fees to complete the registration process. ACCA course fees in India approx. to INR 1.2 lakh to INR 2.6 lakh, considering the exchange rate of the Rupee it may vary. The components of fees include a one-time registration fee, yearly subscription to ensure continuity of membership.
- As we know that ACCA awards maximum exemptions based on your qualifications, so an ‘exemption fee’ is charged for each ACCA exam you’re awarded an exemption for which must be paid within 30 days of receiving your exemption award.
- As an ACCA qualified you must successfully complete the Ethics and Professional Skills module and accumulate 3 years of relevant work experience.
Why is ACCA in demand?
ACCA focuses on practical aspects of accounting, including auditing, tax planning, financial reporting, cost management, and business laws. It is pretty much obvious that such a wide exposure in all these fields makes ACCA a valuable and lucrative career option. As we understand that MNCs are expanding in the current era, there’s a growing need for highly capable financial accountants and commerce professionals. ACCA equips individuals with the knowledge and skills necessary to thrive in this ever-evolving financial landscape. Therefore, ACCA has experienced a remarkable surge in importance.
Is ACCA worth it?
Yes, It’s a big yes. ACCA is a viable option for those who are considering an opportunity or entry in big size firms and MNCs, not only in India but also globally. Moreover, an ACCA holds valuable experience in various fields which surely makes it one of the most demanding careers in today’s world.
ACCA is a renowned global accounting organization with a presence in 179 countries worldwide. It offers the coveted title of a professional accountant to candidates who qualify for its exams.
ACCA professionals in India enjoy attractive compensation. Freshers can earn between six to eight lakhs annually, making it an appealing career choice for those entering the field of finance or auditing.
All Big Size Firms Global firms such as EY GDS, KPMG, PWC, Deloitte and Grant Thornton pay an attractive package to qualified ACCA professionals. They hire ACCA for Job roles such as Auditing, Assurance, Taxation, and Consulting. They offer attractive pay-package that range between 8 to 10 LPA for freshers and around 15 to 20 LPA for experienced professionals.
ACCA as a profession gives you an edge as you have a chance to work in India or in foreign countries with high paying salaries.