ACCA Meaning: ACCA is Association of Chartered Certified Accountant, world’s most forward-thinking professional accountancy body based in the UK with 100+ years of experience. ACCA is a globally accepted qualification for successful careers in finance, accounting, banking, consulting and management. The ACCA course provides excellent career opportunities in India and abroad, to commerce students and professionals, creating strategic-thinking business managers globally.
- ACCA Scope – Career Prospects: The ACCA Qualification, empowers you with broad-ranging and flexible skills set and thus makes you ready to begin in the dynamic global financial sector in roles ranging from the back office to front office and senior management positions. The ACCA has currently had more than 208,000 fully qualified members and 503,000 students worldwide. ACCA’s are among the world’s best-qualified accountants who are highly sought-after in every sector by big four accounting & auditing firms, viz. KPMG, E&Y, Deloitte, PWC and multinational companies like Citicorp, JP Morgan, Microsoft, HSBC, Siemens, Nestle, Accenture among others.
- ACCA Structure: To Become ACCA you must
- Pass exams in 13 ACCA papers in 3 levels (9 of which are exempt for Indian CA’s. Click here to check for ACCA exemptions eligible to you.
- Complete an Ethics module, and,
- Gain 3 years of relevant work experience. (before, during, or after participation the ACCA Course)
- ACCA Eligibility: You can join as early as after completing your 12th Hence you can complete ACCA in 3 years simultaneously with your graduation if you register after 12th standard.
- ACCA Syllabus:
ACCA course is a comprehensive professional course. ACCA is designed to develop:
- Vital knowledge: 13 theory papers in 3 levels
- Practical skills : 3 years’ work experience
- Professional values: Ethics module the entire curriculum of the ACCA is spread over 3 levels:
Fundamental Level Professional Level A. Knowledge Module A. Essentials 1. Accountant in Business 1. Strategic Business Leader 2. Management Accounting 2. Strategic Business Reporting 3. Financial Accounting B. Skills Module B. Optional (any 2 / 4) 4. Corporate & Business Law 4. Advanced Financial Management 5. Performance Management 5. Advanced Performance Management 6. Taxation 6. Advanced Taxation 7. Financial Reporting 7. Advanced Audit & Assurance 8. Audit & Assurance 9. Financial Management
- Knowledge Level: Completion of levels from AB, MA, FA along with Foundation in Professional Ethics module helps you to earn a Diploma in Accounting & Business. These courses include Business Accounting, Management, and Financial Accounting. Strengthening your fundamental knowledge will prepare you for the more advanced subjects in the Professional level exams.
- Skills Level: The subjects included in the levels (LW, PM, TX, FR, AA, FM) is more tuned towards honing the skills in Financial Accounting, Audit and Taxation. After the completion of all these 9 subjects along with the Professional Ethics module, you can earn an Advanced Diploma in Accounting & Business. In case you are more inclined towards Research & Analysis, you also have the option of submitting a project and earning a BSc. in Applied Accounting by Oxford Brookes University.
- Professional (Essentials and Options) Level: The Professional Essentials (SBL, SBR) graduates to advanced levels of Business Leadership and Reporting. There is also an optional segment in the Professional level (AFM, APM, ATX, AAA) which has specializations in Financial Management, Performance Management, Audit & Taxation. Any two out of these four can be opted for.
The certification acquired at this level is Professional Level Certificate & ACCA Affiliate Status.
- Experience: 36 month’s of relevant work experience before, during, or after the course, coupled with the completion of these 13 papers and the ethics & professional module makes you eligible for ACCA professional membership. The ACCA syllabus teaches the students a variety of subjects at an advanced level, for example
- Financial reporting as per IFRS (International Financial Reporting Standards)
- Strategic decision making
- Financial strategies.
- Professional Ethics
Students acquire valuable skills in business management and strategy apart from in-depth knowledge in finance and accounting. Hence ACCA qualified professionals are highly preferred and in high demand by the employers.
- ACCA Flexibility: You can combine ACCA with your B.Com, BMS, BBA and can comfortably finish along-with graduation due to its flexible and well-structured training path. You can choose how you study, how often you sit for your exams. You can even appear for one paper at a time every 3 months. Your internship can begin at any time before, during or after your study program. In addition, it is one of the most cost-effective training programs on the market in the commerce stream. Further, the global pass % is high at 65% (knowledge level -2017) e and pass % of Indian students is even higher, making it easily and comfortably doable in all respects.Alternatively, if you are already a graduate or M com or a professional like CA, ICWA, CS, BE you could claim exemptions and qualify at a faster pace.
- ACCA Jobs and Salary: Every year, over 45 lakh B. Com students look for a job in India. A professional course like ACCA simultaneously with your B. Com gives you a professional edge to head start your career. The Corporate sector knows and trusts the ACCA designation. ACCA is actively connecting with businesses large and small, governments, educational establishments, and opinion formers. ACCA currently works with more than 7,400 Approved Employers and 80 accountancy partnerships worldwide. ACCA has a dedicated job portal to help you find internships and job placements. The ACCA qualification doesn’t limit you to one sector. As an ACCA member, you will open doors to opportunities of working across sectors all over the world, be it the public sector, financial services, or the corporate sector, or an independent practice giving you access to a broad spectrum of interesting roles. The start salary of ACCA qualified professionals is at par with any other similar professional and is in the range of INR 4-6 lakhs p.a. in India. Hence you get an excellent head start in Corporate sector at an early age of 20 years.