THE COST AND FINANCIAL CONSIDERATIONS OF ACCA STUDIES IN MAURITIUS:

A FINANCIAL OVERVIEW:

There are various factors influencing the cost and financial considerations of ACCA studies in Mauritius such as tuition fees, study materials, exam fees, registration and subscription fees, etc. The cost of ACCA can vary from person to person depending upon these factors. Nevertheless, the following is the breakdown of the cost involved in ACCA qualification in Mauritius. 

TUITION FEES: 

Tuition fees for ACCA courses are not predetermined and completely depend on the tuition provider or institute an individual selects. There are various tuition providers of ACCA in Mauritius including private tuitions, universities, and other higher educational institutes as well as online learning platforms. 

Online learning platforms:

Many Online learning platforms for ACCA courses from different countries are available in Mauritius. These platforms offer flexible timings, personalized schedules, and international exposure to the students along with effective learning and study material. The charges of Online learning platforms are lesser than in-person classes, it typically ranges from MUR 5000 to MUR 8000 per paper including study material, lectures, mock papers, etc.  

Other institutes of ACCA:

There are several ACCA-approved institutes in Mauritius such as the London School of Business and Finance (LSBF). These institutes offer tailored courses, the fees of which typically fall in the range of MUR 20,000 to MUR 50,000 depending on the level of study (Applied skill, Applied knowledge, Strategic Professional). Other local universities also offer ACCA preparatory courses for the students. However, the fee of the university might be higher because of the added overhead of university expenses. 

REGISTRATION AND SUBSCRIPTION FEES: 

To start ACCA qualification a student needs to pay registration fees along with annual subscription fees. Registration charges are a one-time fee that a student is supposed to pay while registering for their first time in ACCA. The registration fee is approximately MUR 10,000 to MUR 12,000. Annual Subscriptions are about MUR 6,500 to MUR 8,000 annually after registration; subscription includes ACCA membership and gives access to ACCA resources. 

EXAM FEES: 

The cost of ACCA in Mauritius also includes examination charges. ACCA exams are held four times a year in March, June, September, and December. The examination fees depend on the level of courses and the number of papers a student is taking. Exam entry fees can range between MUR 4,000 to MUR 6,000 per paper depending upon the level of the course. For example, the Applied knowledge or Applied skills level exams might be less expensive than the Strategic professionals exam. 

STUDY MATERIALS: 

Although some tuition providers include study materials in their tuition packages, others charge separately for study materials such as revision kits, textbooks, online resources, etc. The cost of study material can range from MUR 5,000 to MUR 15,000 for each level depending on the provider and whether you buy a complete package or textbooks separately. The students who avail online learning for themselves from providers like Mirchawala’s Hub of Accountancy, BPP, or Kaplan may get charged around MUR 3,000 to MUR 10,000 depending on the package they avail. 

EXEMPTION FEE: 

Exam exemption fee is charged for the students who avail exemption on the papers they have studied in their previous qualification. This fee is an additional charge and applies to every exam you skip.

ADDITIONAL COSTS:

Another additional cost of ACCA in Mauritius includes Resit fees, travel and accommodation, and accelerated courses. 

  • A resit fee is charged when the student cannot pass the exam, which is an additional cost and adds to your expenses. 
  • If a student goes for in-person classes and has to travel from their location to the provider’s location,  fuel charges are added to the expenses. These charges can vary depending on the distance between the student and the provider. 
  • Some tuition providers also offer accelerated courses or intensive programs that speed up the learning process of the students but might charge higher tuition fees. These charges can range between MUR 50,000 and MUR 70,000 each semester. 

SCHOLARSHIPS AND FINANCIAL AIDS: 

Many institutes, organizations, and professional accounting bodies offer financial aid for Mauritian ACCA students. Many of them are merit-based or awarded on academic results. ACCA provides financial assistance to students. The information about these scholarships can be collected through the official global website of ACCA. ACCA aspirants should monitor such institutes to avail of financial aid. Apart from that, ACCA offers early bird discounts for students who avail of early registration. Getting discounts and scholarships can contribute to lessening the financial burden of ACCA qualification. 

COMPLETION OF THE ACCA QUALIFICATION: 

Normally,  ACCA qualification takes 3 to 4 years to complete; however, the completion time can vary depending upon the number of exams a student takes in a year, if they avail themselves of any exemption based on their prior qualification, if they failed an exam, etc. Nevertheless, the number of years it takes to complete the qualification affects the total investment needed for ACCA qualification.

TOTAL ESTIMATED COST BREAKDOWN: ACCA FINANCIAL OVERVIEW: 

  • The fee for Online learning institutes for ACCA costs around MUR 5,000 to MUR 8,000.
  • Exam fees per paper are around MUR 4,000 to MUR 6,000. 
  • Study material depending on the package you avail might range between MUR 5,000 and MUR 15,000. 
  • Other additional costs, like resits, workshops, exam exemptions, accommodation, etc. These charges cannot be forecasted as these are variable costs. 

CONCLUSION: 

The cost of ACCA in Mauritius can vary from person to person, depending on their preferences. However, the estimated cost can fall between MUR 60,000 and MUR 150,000 yearly. Budgeting and financial planning can help the students to acquire the prestigious qualification of ACCA. By choosing online learning platforms that offer part-time learning options, students can also work part-time. Keeping an eye on discounts and offers will be beneficial for them in reducing the cost of ACCA qualification.