ACCA Degree Duration, Eligibility, Exams, Exemptions
Students studying commerce often do not have direction regarding their professional choices. Some people are sure that they want to pursue a career in accounting, but they are unsure which professional certification to pick. Although there are many great certification programmes, ACCA is strongly recommended. Such students get access to lin understandingucrative employment prospects in accounting through the Association of Chartered Certified Accountants (ACCA). You still receive the title of Chartered Accountant, but with global exposure and recognition, as it is also known as global CA.
If you are all set to pursue the ACCA certification, continue reading to find out more about the ACCA, ACCA degree duration, the ACCA exemptions that apply to commerce students, and how to apply for these exemptions.
A Comprehensive Overview – What is ACCA?
ACCA is a globally accepted professional credential that is available to those in the accounting field, verifying their abilities as licenced Chartered Accountants who can work in any country.
Let’s take a quick look at the examination pattern to assist you at which papers are subject to the ACCA exemptions. These exemptions will be determined by how well you studied and understanding a level that was in line with the abilities and knowledge you had attained by the time you reached your 10+2 level or graduated.
The three sections of the ACCA certification test are Knowledge, Skills, and Professional. The exam’s Knowledge and Skills sections are categorised by Fundamental Level. Consequently, the ACCA test is divided into two sections: Fundamental Level and Professional Level.
Nine papers make up the foundational section, including three for applied knowledge and six for applied skills. The Essentials and Optionals categories are used to separate the Professional Level subjects. The Essentials module includes Papers P1, P2, and P3, whereas the Optional module includes the remaining papers. To become ACCA-certified, candidates must pass not just these two exam levels but also the Professional Ethics Module.
Hopefully, you are clear on the basics of ACCA, in the coming sections, we will lookout for the benefits of ACCA courses, ACCA degree durations or ACCA durations etc.
Why You Should Go for ACCA?
If you are still confused about the career potential in ACCA, following are the key reasons why you should go for ACCA:
A Chartered Accountant from India is eligible for up to 9 exemptions from the 13 ACCA examinations (F1 to F9). By simply passing the 4 examinations, you can begin your professional qualification to become an ACCA right away.
The candidates benefit from qualifying for ACCA after CA by getting new doors opened for them. You are qualified to work on a variety of profiles in international corporations if you are an ACCA member. Comparatively speaking, ACCA is recognised in 183 nations but CA is only recognised in India. Therefore, being an ACCA qualifier might steadily increase your job alternatives.
When it comes to exemptions and job experience, ACCA is very accommodating.
You already qualify for exemptions from nine ACCA papers as a licenced Chartered Accountant. Additionally, the Practical Experience Requirement (PER) for the ACCA counts your articles following the IPCC group 1 as well. Additionally, there is NO GROUPING and NO AGGREGATION in the ACCA tests, so you simply need to retake them for the papers that you didn’t pass.
ACCA exams are given four times a year. That offers you plenty of time to get ready at your discretion, increasing your chances of passing. Additionally, ACCA has a passing rate that is far higher than CA, averaging approximately 60%.
Explore Global Opportunities
After passing the ACCA exam, you gain an understanding of the international accounting standards and legislation that are demanded by businesses on a global scale. In many different accounting positions, including forensic accounting, corporate valuation, tax and treasury management, and others, ACCA-qualified professionals are strongly favoured.
ACCA Degree Duration – For 12th, Graduates and CA
The ACCA degree duration varies, for students who have completed the 12th, the ACCA degree duration is it is 3 years for them. For commerce graduates, it is 2-2.5 years, 2 years for IPCC groups, and 1 year for BCom and CA graduates.
Step-wise Process to Apply for the ACCA Exam Exemptions
After you are clear on the ACCA degree duration, now understand the exam exemption. Candidates who have earned the aforementioned degrees and are entitled to exemptions can claim exemptions from parts of the ACCA 2023 tests by following the instructions below:
- Confirm the price: Candidates who meet the requirements for exemption will be asked to pay an exemption fee for the specific exam from which they seek a waiver from the ACCA. Candidates can utilise the ACCA Exemption Calculator to calculate the cost of the exemptions they are requesting.
- Do your paperwork: Candidates must next get ready all the necessary documentation to request their exemption. This might be their diploma, CA results, or class 12 grade reports.
- Move to Registration: Candidates may request exemptions when registering for the ACCA 2023 exam. The necessary money and the supporting paperwork for the candidate’s exemption must be uploaded.
Exemption Fees for ACCA
You must pay for each exemption you request when you choose ACCA exemptions. Candidates who choose to opt out of taking Applied Knowledge examinations must pay an exemption fee of £84, while those who choose to take Applied Skills exams must pay an exemption cost of £111. Students must pay the initial Registration fee and exam fees for each portion of the ACCA certification exam in addition to the ACCA exemption fee.
Candidates should be aware that they must pay each exempt charge within 30 days of informing the ACCA.
Top Advantages of ACCA Paper Exemptions
Let’s first examine how ACCA exemptions can help you before moving on.
- It benefits students most by reducing the amount of time needed to finish the entire set of tests, notably graduate and CA-intermediate students. Although it is advised to take the exam for the exempted papers to help you brush up on some topics.
- Second, there is no need to review the papers or subjects in which you already excel.
- Thirdly, you benefit financially because you can avoid paying for study materials and tuition by exempting some papers.
Whether you want to take the ACCA exam after earning your Chartered Accountant designation from the ICAI depends entirely on your professional preferences. ACCA can be a very good option for you if you’re looking for employment chances outside of India or want to work for Big 4s and MNCs in India that require an understanding of IFRS (IndAS).
It will assist you in spreading your wings and becoming an ACCA or GLOBAL CA!
Frequently Asked Questions
What is the duration of the ACCA course?
ACCA has three levels: Applied Knowledge, Applied Skills, and Strategic Professional. To be eligible, you must have completed relevant job experience at some point. Generally, the total ACCA course duration is five years.
What is the ACCA course duration in the UK?
When it comes to ACCA UK course duration, Part-time students usually finish their coursework in 3-3.5 years, whereas full-time students usually finish in 2-2.5 years. Depending on how many exemptions they received for their prior certification, students having exemptions from specific ACCA papers may be able to finish their studies sooner.
What is the duration of ACCA course in India?
The ACCA India course duration depends on a number of things, such as your previous school history and how much time you can commit to studying. It usually takes two to three years to finish all the examsthe .
What is BCom with ACCA course duration?
Six ACCA papers are integrated into the three to four-year undergraduate Bachelor of Commerce program known as BCom with ACCA. Students who complete their B.Com. with ACCA degree do so with minimal additional training because the ACCA curriculum is already incorporated into the B.Com. course.
What is the BBA ACCA F&A course duration?
A three-year graduate degree, the Bachelor of Business Administration (BBA) in Finance and Accounting (with ACCA UK) covers the fundamentals of accounting and the company’s financial side.
Its goal is to prepare students for entry-level financial profiles. Additionally, it enhances proficiency in the fields of taxation, insurance, financial planning, and investments.
The total ACCA with BBA F&A course duration can be 2 years. However, obtaining the ACCA certification requires a minimum of 3 years. This is because to become an ACCA member, candidates must have three years of relevant experience.
To get a better understanding of the course, visit our website and get expert guidance.