ACCA Exams

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ACCA Exams

The Association of Chartered Certified Accountants (ACCA) awards the Chartered Certified Accountants qualification which is counted amongst the most prominent and internationally renowned credentials in the field of finance and accounting. The ACCA exams are conducted on a global level for those planning to gain this credential. After qualifying these exams, you can get the ACCA membership and explore a varied range of opportunities in Finance and Accountancy, especially for the senior roles. Further, this accreditation also enables you to opt for the profile of a registered auditor. Through this blog, we aim to bring you a detailed guide on ACCA exams including their eligibility, syllabus, as well as other essentials.

ACCA Association of Certified Chartered Accountants
Duration  2 year – 10 years (Depends on qualifications)
Admission procedure Merit-based/ entrance exam with an interview round
Age criteria Minimum 18 years
Educational Criteria 10+2 with 50% in all subjects
65% in accounts/math & English
Exam Level Global

Related Read: Cost and Management Accounting

About ACCA

ACCA is an internationally recognized accountancy accreditation and equips candidates with the knowledge and competencies to explore strategic roles at the senior management level. ACCA exams comprise 14 papers in total and are broadly divided into two levels, Fundamentals and Professionals. These two levels are further classified into two modules each. Also, these exams can be taken only four times in a year, i.e. in March, June, September and December which are the starting months of this course’s session as well. The minimum duration to complete the ACCA course is two years while the maximum spans towards 10 years. To help you understand the structure of the exam, we have listed its two levels and corresponding papers in the following table:

ACCA Level Modules & Papers
Fundamental Two Modules:
1. Applied Knowledge (3 papers)
2. Applied Skills (6 papers)
Professional Two Modules: 
1. Essentials (3 papers) 
2. Options (2 papers)

ACCA Exam Dates 2021

Here are the ACCA exam dates 2021 for June session:

Date ACCA Exams
June 7, 2021 Audit and Assurance (AA)
Advanced Audit and Assurance (AAA)
June 8, 2021 Advanced Taxation (ATX) HKG, UK, ZAF 
Strategic Business Leader (SBL)
Taxation (TX)
June 9, 2021 Advanced Performance Management (APM)
Performance Management (PM)
Advanced Taxation (ATX) CYP, IRL, MLA, MYS, SGP
June 10, 2021 Financial Reporting (FR)
Strategic Business Reporting (SBR)
June 11, 2021 Advanced Financial Management (AFM)
Financial Management (FM)
Corporate and Business Law (LW)

ACCA vs CA vs CS

Confused about how ACCA is different from CA and CS? Here are the key differences between ACCA vs CA vs CS:

Criteria ACCA CA CS
Full Name Association of Chartered Certified Accountants Chartered Accountant  Company Secretary
Admission Process Merit/ Entrance Exam Entrance Entrance
Reach / Level Global National National
duration 2 to 3 years 3 – 4 years 1 – 3 years
Exam structure Two levels Three Levels Three Levels
Average Annual Salary
(in INR)
3,00,000 – 5,00,000 4,75,000 – 9,00,000 3,50,000 – 7,50,000

Eligibility Criteria & Exemptions

Here are the eligibility requirements you must know before applying for the ACCA exam:

  • The candidate must have completed their senior secondary education (10+2) with five subjects including Mathematics and English. Further, they should have 65% marks in a minimum of two subjects and more than 50% marks the rest of the three subjects.
  • Those who have graduated with any commerce degree such as BBA, B.Com, BMS, etc. However, BA or BSc graduates are also eligible given that they have foundational knowledge of Accountancy.
  • Those who are preparing for CPT or CA IPCC exams can also apply for ACCA exams
  • If you have completed the CA course and want to gain a global accreditation, you are also eligible.

The exemptions for the aforementioned categories are as follows:

Qualification ACCA Exams Exemptions from the Level Duration
12th Pass Candidates 13 None 3 years
BBA, BCom, BMS and
Commerce Graduates
9 Fundamental Level
(Only F1, F2, F3, F4)
2-2.5 years
IPCC Aspirants 8 Fundamental Level
(F1, F2, F3, F6, F8)
2 years
Bcom + IPCC Aspirants 7 Fundamental Level
(F1, F2, F3, f4, F6, F8)
1 year
Chartered Accountants 4 Fundamental Level (F1 to F9) 1 year

Recommended Read: How to Become a Chartered Accountant

Syllabus of ACCA Exams

The ACCA Exams constitute a total of 13 papers classified into 4 levels. There are a total of 4 modules in which 13 papers have been divided. Take a look at the following table elucidating the syllabus of ACCA exams in further detail:

Module Topics Covered in ACCA Exams
Applied Knowledge
(3 Papers)
F1. Accountant in Business: History and Role of Accounting
in Business; Leading and managing individuals and teams;
Business organisation, structure, governance and management;
Specific accounting functions & internal financial control;
Environmental influences on business and accounting

F2. Management Accounting: Nature and purpose of cost
management accounting; techniques of cost accounting;
cost classification, behaviour and purpose; budgeting
and standard costing; business mathematics &
computer spreadsheets; short-term decision-making
techniques

F3. Financial Accounting: Context & purpose of financial
accounting; preparing trial balance, basic financial
statements; qualitative characteristics of financial
information and fundamental bases of accounting,
recording transactions and events; use of double-entry
accounting systems

Applied Skills (6 Papers) F4. Corporate and Business Law: Employment law; legal
implications for companies in difficulty or crisis; the law
of obligations; essential elements of the legal system;
capital and financing of companies; formation and
constitution of business organisations; management,
administration and regulation of companies; governance
and ethical issues relating to business; formation and
constitution of business organisations

F5. Performance Management: Performance measurement;
decision-making; standard costing and variance analysis;
cost accounting techniques; budgeting and forecasting

F6. Taxation: Investment income; self-assessment;
trading profits; personal tax computations; corporation tax;
national insurance; capital allowances; value-added tax;
property business profits; employment income

F7. Financial Reporting: Regulatory framework;
analysing and interpreting; preparation of financial
statements; conceptual framework; business combinations

F8. Audit and Assurance: Cost of capital, investment
appraisal; business finance; financial management function;
working capital management financial management environment; risk management; cost of capital

F9. Financial Management: Working management;
investment appraisal; business finance, etc.

Professional Level
(Two categories)

Essentials [2 papers] &
Options [Choice of 2 from 4 papers]

Essentials: 
P1. Governance, Risk and Ethics
P2. Corporate Reporting
P3. Business Analysis

Options: 
P4. Advanced Financial Management
P5 Advanced Performance Management
P6. Advanced Taxation
P7. Advanced Audit and Assurance

Know All About How to Become An Auditor

Benefits of Pursuing ACCA

  • While in-demand courses like CA & CS are famous in India, ACCA has global recognition & not just restricted to Indian boundaries & known around the world. 
  • As compared to other courses ACCA is comparatively cheap & the course is not just related to accounting or finance, the course also includes management skills as well. Students will gain the knowledge of both in the entire course that increases their better growth opportunities.
  • CA & CS are more focused on Indian accounting standards whereas ACCA is based on international accounting & auditing standards, this is the reason ACCA is in demand worldwide and not just in India.
  • The USA that has the highest economy in the world is also the highest country to pay the most to ACCA professionals.
  • ACCA uses international standards that allow them to work in about 173 countries.

Top Colleges in India For ACCA

Here are the top colleges offering ACCA course in India:

  • Christ University
  • Symbiosis College of Arts and Commerce
  • Gitam Institute of Management
  • Dayanand Sagar University
  • Srinivas University
  • Indian school of commerce
  • Graphic Era Hill University 
  • Apeejay Stya University
  • Global Centre for Entrepreneurship & Commerce
  • Manipal University

Things to Keep in Mind

While appearing for the ACCA exams, there are some things that you must keep in mind, be it following the rules that are specified for taking each paper or the passing criteria. These key pointers have been given a rundown below:

  • The candidate must take the ACCA exams in a certain order for its three levels, i.e. Applied Knowledge, Applied Skills and then Strategic Professional.
  • You can appear for four papers in a single setting. 
  • The exam paper which falls within the same module can be taken in any order.
  • The passing marks for each paper is 50%.
  • In order to get the membership of ACCA as well as the accreditation, you must complete the professional ethics module; get three years of industry experience as well as clear all the 13 papers with a minimum of 50% marks. 

Career Scope

After successful acing ACCA exams, you can then move towards attaining this prestigious qualification. Moreover, Certified Chartered Accountants by ACCA can explore a wide range of career options in Finance and Accountancy, some of which are:

  • Risk Manager
  • Chief Financial Officer
  • Forensic Accountant
  • Auditor
  • Management Accountant
  • Credit Control Manager
  • Business Advisor
  • Business Analyst
  • Insolvency Practitioner
  • Financial Analyst

Also Read: CFA Course

FAQs

What is the duration of ACCA?

It depends upon your educational background, ACCA ranges between 2 – 4 years.

What is the total number of exams in ACCA?

The total number of exams is 13 in ACCA.

Who certifies ACCA?

ACCA is certified by the Association of Certified Chartered Accountants.

Is there any career scope of ACCA abroad?

ACCA is a globally recognized certification and individuals can work in about 173 countries.

What do Indian companies prefer more CA or ACCA?

Indian companies prefer CA because CA is more focused on Indian accounting standards whereas ACCA is recognized globally.

What are the fields we can work on after ACCA?

Here are the major jobs after ACCA exams:
Risk Manager
Chief Financial Officer
Forensic Accountant
Auditor
Management Accountant
Credit Control Manager
Business Advisor
Business Analyst
Insolvency Practitioner
Financial Analyst

We hope that this blog has provided you with all the key details of ACCA exams. If you are planning to pursue accounting courses, but don’t know which one to opt for, register for an e-meeting with our Leverage Edu experts and we will guide you in choosing the right degree program and university that can equip you with the necessary knowledge and exposure to establish a rewarding career in this field.

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