What is the subject, cost, duration, and eligibility of the ACCA course?

More than 200,000 members and 600,000 students attend ACCA, the internationally renowned Institute of Chartered Certified Accountants, which is located in 181 countries. This esteemed credential is necessary for a successful accounting profession overseas.

The equivalent to ACCA in India is CA.

Why learn ACCA? advantages of ACCA training

For those who want to work in accounting and finance, studying for the ACCA (Association of Chartered Certified Accountants) provides several advantages and chances.

The following are some advantages of learning ACCA:

Worldwide Recognition: The ACCA is a widely accepted credential that is pursued by more than 5,44,000 students in 181 nations, earning it the moniker "Global Chartered Certified Accountant."

Dual Degree: By passing 13 examinations, ACCA gives students the chance to graduate with two degrees, enabling them to complete one qualification at the same time as their bachelor's.

Numerous career opportunities: ACCA provides doors to a variety of positions in India and outside, including corporate financial reporting, auditing, taxes, risk management, and more.

Exam Flexibility: ACCA tests are application-based, online, and provide scheduling flexibility so that students may concentrate on one paper at a time.

High pass rates: ACCA reports comparatively high pass rates of about 50%, indicating a respectable likelihood of passing the certification with the right support and direction.

eligibility for acca

On its official website, ACCA has outlined the precise requirements for qualifying for the 2023 exams. Before applying, candidates should carefully go over these requirements.

Following the 12th, ACCA

According to ACCA's eligibility standards, candidates must be at least eighteen years old and have successfully finished their upper secondary education, with a minimum aggregate score of fifty percent in all subjects and a combined score of 65% in English and Mathematics/Accounting. Matter.

Following graduating, ACCA

Students studying for degrees in commerce, such as B.Com, BBA, and BMS, are eligible to take the ACCA test.

Similarly, graduates with a BA or B.Sc. from accredited institutions are eligible to enrol in the ACCA programme, if they fulfil the prerequisite of completing the ACCA Foundation Diploma.

Following the tenth

In addition to the three levels of the ACCA test, there is a Foundation in Accountancy level for students who want to take the exam following their tenth grade year.

It is especially intended for those who have completed their tenth grade and have no prior accounting experience. There are three stages for non-FIA candidates seeking admission to ACCA: Knowledge, Skills, and Professional. The successful completion of 13 tests covering these levels is required for ACCA certification.

The ACCA Diploma in Financial and Management Accounting (RQF Level 2) is the foundational degree in accounting.

• • Financial and Management Accounting ACCA Diploma (RQF Level 3)

• • ACCA Business and Accounting Diploma (RQF Level 4)

• • Technician in Certified Accounting (CAT)

ACCA after CA: By passing only four ACCA papers, Indian Chartered Accountants (CAs) may go straight to the professional level by being excused from up to nine of the thirteen exams. This shortcut offers a strong capacity in addition to time savings. Moreover, there is an exemption from participating in five ACCA papers for Foundation and Intermediate CA IPCC students.

You are a well-rounded financial professional thanks to your ACCA worldwide education and your CA experience. Additionally, the CA internship you completed after IPCC Group 1 contributes towards your ACCA real-world experience requirement. While ACCA has an easy pass rate of 40–50%, CA is renowned for its difficult pass rate.

Minimum Age Requirement

A minimum of 16 years old is required to register for the ACCA Foundation Diploma programme.

Duration of an ACCA course

Because ACCA courses last between two and three years, students may start their careers as soon as they finish their degree.

Exams and levels for ACCA

There are two main levels in the ACCA test structure: the professional and foundational levels.

basic level

The nine themes covered in the two modules, knowledge and skills, make up the foundational level. Students graduate from this level with a strong foundation in management and financial accounting.

Module of Knowledge

Three issues are the subject of this module:

financial accounting and management Technology, business, and accounting

Module of Skills:

The skills module goes into great detail on the technical know-how and real-world abilities needed in the financial sector. It covers the six topics listed below:

• management of performance

• financial reporting and taxes

• Exam and Verification

• money handling

• Business and Corporate Law at the Professional Level

Similar in significance to a master's degree, the professional level is an advanced level. This is for those who want to work with companies in senior advisory or consulting roles.

There are two more courses at the Professional level:

Modules that are necessary:

analytically and strategically in business reporting

Module of options:

Students may choose two disciplines from the list below:

• sophisticated money handling

• advanced taxation

• enhanced performance supervision

• Proficient Auditing and Assurance

• ethicsproficiency and expert abilities

• 
  

To become an ACCA-certified professional, you must complete the Ethics and Professional Skills module in addition to the courses listed above. The development of professional abilities including leadership, communication, and business knowledge is the main goal of this module.

Assessment takes the form of 15-hour review sessions as opposed to tests.

The Pay of ACCA in India

The following describes how the pay range for ACCA experts in India differs by region:

• Sector of Accounting and Audit: ₹15–18 LPA

• Area of taxes: ₹12–15 LPA

• Area of financial reporting: ₹12–15 LPA

• Area of Internal Audit: ₹10–15 LPA

In India, the average pay for ACCA professionals is ₹6.25 LPA for new graduates. Payscale is the source. Please take note that the typical salary shown here may differ based on geography, experience level, and business size.

The accounting and auditing industries pay the highest wages of any of them since ACCA specialists are crucial to a company's financial statements, taxes, and audit reports.

Career Scope of ACCA

It is essential that you comprehend the format and format of the ACCA test prior to beginning your certification path. Following that, a thorough study and preparation plan based on the test syllabus is required.

After earning your ACCA certification, you'll have no shortage of career options. A few of these include

1) Financial Accountant: In charge of documenting, condensing, and analysing business dealings.

uses balance sheets and statements to assess financial data

creates financial reports for outside parties, including investors, creditors, and tax authorities.

Pay: ₹4.6 LPA

2) Account Manager

oversees the lending and credit activities of the business.

cultivates and preserves solid client connections for efficient credit management

Loan administration, credit evaluation, client credit rating, and customer status reporting are among the responsibilities.

Pay: ₹4.2 LPA

3) The Controller of Finances

An organization's accounting department is under the top manager's supervision.

guarantees the maintenance of accurate financial records and adherence to legal regulations.

involvement in compliance audits, budget procedures, and financial data assessment

Pay: ₹19.8 LPA

4) Corporate Treasurer Charged for creating financial policies and obtaining organisational capital.

reduces financial risk, offers advice on potential investments, and manages growth mone

focuses on treasury operations, capital markets, risk management, corporate financial management, and liquidity management.

5) An auditor attests to the correctness of reports and financial and operational data within companies.

Large accounting companies like Deloitte, PwC, EY, and KPMG are often where one may get employment.

Maintains adherence to the legal framework and builds the trust of investors and shareholders

Pay: ₹5.5 LPA

6) Tax Expert: Located in professional services or accounting businesses

helps with personal and commercial tax issues and offers guidance on domestic and international tax legislation

aids in fulfilling tax requirements for organisations.

Pay: ₹5.8 LPa

In summary

One of the most prominent accounting credentials is the ACCA certification, which has great recognition on a global scale. The ACCA degree offers access to interesting ACCA employment and possibilities in a range of areas in India and overseas because of its widespread acceptance.

Because of the exam's adaptable format, you may pursue your degree and incorporate the certification process into your daily life.

You may join the professional workforce and get jobs in prestigious companies with excellent beginning wages after earning your ACCA certificate. One may even get prominent jobs like CEO or CFO with shown professional expertise.

queries to pose

Are ACCAs well-liked in India?

Due to the international recognition of ACCA certifications, members may look for work prospects abroad. In a similar vein, ACCA members are eligible to seek for jobs with prestigious Indian multinational corporations (MNCs).

Is getting an ACCA tough?

In general, the ACCA test is less difficult and more accessible than other professional finance and accounting courses like CA and CFA.

How long does the ACCA course last?

A minimum three-year commitment is required to become a professional accountant and get ACCA membership. This entails finishing all tests in two years and accumulating three more years of real-world experience.