What is ACCA?
In recent years, another popular career option has been to become an ACCA, also known as the global CA. ACCA (the Association of Chartered Certified Accountants) is a professional body for accountants. It was formed in 1904 and currently has over 200,000+ members in 179 countries. ACCA’s qualifications are globally recognized and highly regarded by employers.
ACCA’s vision is to be the world’s pre-eminent professional body for accountants, supporting and developing their careers. They provide world-class qualifications and exams to members, enabling them to become successful and respected professionals.
Why ACCA Career Option Become Increasingly Popular?
1. The role of an ACCA is very important in today’s global economy. It’s crucial for business operating in international level to have someone who understands the ins and outs of financial management
2. The role of an ACCA provides a great deal of flexibility and autonomy. ACCAs can work from anywhere in the world, and they often have the freedom to set their hours
If you have a burning passion in accounting, ACCA is a great place to start.
Courses in ACCA
The ACCA Qualification is consists of 13 papers divided into four modules. To become a certified ACCA member, you must pass all 13 papers and the Professional Ethics module and Practical Experience Requirement. Each level of ACCA covers various subject areas, from financial reporting to auditing and taxation.
The ACCA examination courses are categorized into three parts – The Fundamental level, The Professional level and the Ethical and Professional Skills Module.
Exemptions in ACCA
ACCA offers a range of exemptions for students who have completed relevant prior learning. If you have studied at the degree level or have relevant work experience, you may be eligible for exemptions from some ACCA exams.
If you have completed equivalent papers from another professional body or if you have significant relevant work experience, you may be exempt from the respective papers. You will need to provide documentation of your exemption to the ACCA.
1. Exemptions For Qualified B.Com and M.Com Students
To be eligible for exemptions, students must have completed their BCom or MCom within the last 10 years and have achieved a minimum grade of 60% in the relevant subjects. Students must also have completed the subjects within an appropriate academic institution recognized by the ACCA.
1 – Business and Technology (BT)
2 – Management Accounting (MA)
3 – Financial Accounting (FA)
4 – Corporate and Business Law (LW)
2. Exemptions For BBA-Qualified Students
1 – Business and Technology (BT)
3. Exemptions For MBA-Qualified Students
1 – Business and Technology (BT)
2 – Management Accounting (MA)
3 – Financial Accounting (FA)
4. Exemptions For CA Foundation Students
The Association of Certified Chartered Accountants (ACCA) has confirmed that students who have completed the CA Foundation course are not eligible for exemptions from ACCA exams.
This means that students who have completed the CA Foundation course must take and pass all 13 ACCA exams to become Chartered Certified Accountants.
5. Exemptions For CA Inter-Qualified Students
1 – Business and Technology (BT)
2 – Management Accounting (MA)
3 – Financial Accounting (FA)
6 – Taxation (TX)
8 – Audit and Assurance (AA)
In case the student has also completed the BCom/Mcom in addition to CA Inter – He shall also have an exemption of F4 – Corporate and Business Law (LW)
6. Exemptions for Qualified CA
To be eligible for ACCA exam exemptions, students must have completed all CA professional education program exams.
Students must have completed the CA designation within the last 10 years to be eligible for exemptions. The number of exemptions varies depending on the specific CA designation, but students can typically be exempt from up to 9 of the 14 ACCA examinations. This is a great way for qualified students to save time and money on their ACCA exams.
ICWA/ICMAI-qualified students will also get all the exemptions mentioned below, subject to specific working experience.
1 – Business and Technology (BT)
2 – Management Accounting (MA)
3 – Financial Accounting (FA)
4 – Corporate and Business Law (LW)
5 – Performance Management (PM)
6 – Taxation (TX)
7 – Financial Reporting (FR)
8 – Audit and Assurance (AA)
9 – Financial Management (FM)
How to Claim the Exemption?
If you have already completed certain ACCA exams, you may be eligible for an exemption from some of the exams required to become an ACCA-licensed accountant. To apply for an exemption, you must submit an exemption application form and supporting documentation to the ACCA. The ACCA will review your application and determine whether or not you are eligible for an exemption. If you are eligible, you will be exempted from the specified exams and will not be required to retake them. More clarified details can be found on the official ACCA website.
What are the Benefits of ACCA Exemptions?
ACCA exceptions are a great way to fast-track your ACCA qualification. ACCA exceptions are a great way to save time and money on your ACCA qualification. By taking advantage of these exceptions, you can save up to 20% on the total cost of your ACCA qualification. In addition, you can also save up to 50% on the whole time it takes to complete your ACCA qualification.
How much should be Paid for Exemption Papers?
Eligible students can take advantage of several beneficial exemptions ACCA offers; however, they must pay an exemption fee. The exemption fee for Applied Knowledge exams is 84 GBP per paper and 111 GBP per paper for Applied Skill exams.
Exemptions are granted on a case-by-case basis. To know if you are eligible for any exemptions, please check the ACCA website.
Being an ACCA approved Silver learning partner, Stride Edutech, can provide range of discounts in Exemption Fees for eligible students.
ACCA is a global professional body offering the Chartered Certified Accountant qualification. ACCA qualifications are widely recognized and respected by employers worldwide, making ACCA a great career choice. As a Silver Learning Partner, we offer a great learning experience in ACCA to help you achieve success. Feel free to be in touch with us to find out more.
