ACCA qualification is highly regarded across the world, and the demand for ACCA professionals is increasing in various industries which also means an ambitious and skillful ACCA qualified has a promising career. Now, there is a certain price attached to every blessing. If ACCA has a higher probability of giving a promising future and professional growth it also has a price attached to it in the form of complex syllabus and study cost. Both things however managed in the right way can help you achieve your dream qualification. Read the blog to get a clear picture of all the direct and indirect costs attached to the qualification of ACCA. 

The cost of an ACCA qualification in South Africa can vary depending on tuition, study material, etc. 

TUITION FEES: 

The tuition fees of ACCA in South Africa vary depending upon the level of qualification; Applied knowledge, Applied skills, and Strategic professional. The charges of ACCA tuition also depend on the tuition provider or institution and the mode of delivery (face-to-face or online). However, there aren’t any accurate prices of these tuition providers but they may range between: 

Applied knowledge:

In the Applied knowledge level (F1-F3), the cost may fall between or near R8,000 to R15,000 per paper. 

Applied Skills (F4-F9):

In this level, the cost of each paper is around R12,000 to R20,000. 

Strategic Professional:

This level includes (SBL, SBR, etc), the cost of each paper is approx R15,000 to R25,000. (These prices may differ depending upon the institutes and the mode of delivery).

EXAMINATION FEES: 

Examination fees of ACCA exams are predetermined by the ACCA itself, the prices for ACCA are globally standardized and paid to the ACCA only. The fees depend on the level of papers and if you are taking single exams or multiple exams in that session. 

Applied knowledge and skills:

Examination fees for Applied knowledge and Applied skills level is approximately R5,350 per paper 

Professional level:

This level’s examination fee costs about R6,500.

Strategic business leadership:

It costs around R7,450. In case of late registration, an additional fee is charged that is around R500 to R1000. 

STUDY MATERIALS:

The cost of study materials differs depending upon the publisher and packages you opt for. 

Books and notes:

Books and study packs can cost around R2,000 to R6,000 for each course. 

Online platforms:

There are numerous online learning platforms for ACCA in South Africa offering packages that include study material, mock exams, video lectures, practice exams, etc. Examples of such online learning platforms are Mirchawala’s Hub of Accountancy, Kaplan, BPP, etc. The cost for the study packages depends upon each institute however it may range between R1,500 to R4,500 per course.

TRAVEL AND ACCOMMODATION COST: 

Students who prefer in-person classes/institutes instead of virtual classes through online learning platforms have to bear additional accommodation charges. However, these costs are neither predetermined nor forecasted as they completely depend on the distance between your location and the institute you study at. 

MEMBERSHIP FEES OF ACCA: 

After completing the qualification of ACCA, you must pay the annual membership fee every year to keep the membership alive to keep up with the trends and industry changes, standardized rules, and regulations of ACCA. These annual charges are about £311. 

TOTAL ESTIMATED COST BREAKDOWN OF ACCA IN SOUTH AFRICA: 

Various factors influence the cost and financial dimensions of ACCA qualification such as part-time or full-time study, study mode (virtual or in person), number of exemptions, pace of study, etc. Also, various providers of ACCA courses offer different packages. The total estimated cost breakdown for ACCA might not be accurate. 

  • Tuition fee: Approximately, R150,000 to R250,000. Completely depends on the tuition provider and study mode. 
  • Exam fee: About R40,000 to R60,000 depending upon the number of exams taken. 
  • Study material: Near R20,000 to R40,000 based on providers, number of courses, and study mode. 
  • Miscellaneous cost: This cost includes the accommodation and travel charges as well as annual membership fees. It may cost around R10,000 to R20,000. 

The total cost of ACCA qualification in South Africa may differ from person to person depending upon each individual’s choices or preferences in institutes, study material, pace, study mode, etc. But it can range somewhere between R250,000 to R350,000+. 

WAYS TO REDUCE THE COST OF ACCA QUALIFICATION IN SOUTH AFRICA:

  • Use free resources for learning such as through online ACCA learning channels on YouTube. 
  • Choose online learning platforms or blended learning. By ditching traditional in-person classes you can save extra fuel expenses and time. 
  • Take advantage of discounts and promotions such as early bird discounts, promotional reductions, etc. 
  • Maximize study timings to avoid retakes. 
  • Avail sponsorships, scholarships, student loans, etc. 

POTENTIAL RETURN ON INVESTMENT (ROI) ON ACCA QUALIFICATION: 

The return on investment in ACCA qualification in South Africa is high, the qualification offers numerous benefits and continuous professional growth in the future which outweighs the initial financial cost for ACCA. Following are some of the benefits: 

  • Increased earning potential which means handsome salary packages, progressive career, and global recognition. 
  •  Career advancement opportunities 
  • Global career mobility. 
  • Better job prospects, etc. 

CONCLUSION: 

However, the cost of ACCA qualification, seems a bit high while doing the research, but with the right budgeting and correct choices, one can manage it easily. As you cannot make an omelet without breaking the eggs, to achieve this globally recognized qualification you have to bear the cost. But with your smart choices, you can easily cover the finances just by following the tips given in the article. Not to forget, the return on investment on ACCA qualification is on the higher side, which means your investment in this qualification won’t go in vain; rather, it will be fruitful for you in the coming future.