INTRODUCTION:
The ACCA subscription fee in Malaysia and other educational expenses are one of the biggest concerns for students; to smooth their academic journey, they need to plan their finances before stepping into the ACCA journey officially. Many students aspire to walk on the academic path of ACCA in Malaysia, but fail to proceed further as they have limited knowledge about the academic expenses of this qualification. We think every aspirant should get equal opportunities and well-planned exposure to the academic landscape; therefore, this guide is designed to help students explore the annual academic cost, due dates, and deadlines.
Students are advised to remain extra cautious about the ACCA fee structure and deadlines to manage their expenses smartly and meet all the deadlines to avoid any kind of repercussions. ACCA’s academic expenses can be categorised into two main parts: on one side, students have to pay the ACCA fee to ACCA Global, while on the other hand, students have to take care of the tuition fee paid to ACCA learning providers as well. To explore more about the ACCA fee structure and other academic expenses in Malaysia, read the blog ahead.
ACCA QUALIFICATION: AN OVERVIEW:
The qualification of ACCA in Malaysia is a globally acknowledged accounting credential with a reputable presence in the practical world. The ACCA qualification covers a wide range of accounting and finance topics, including taxation, auditing, financial reporting, etc; all these topics are covered in thirteen modules. The qualification requires students to complete all thirteen exams successfully, gain the required work experience of 36 months, and complete the EPSM modules.
THE ACCA FEE STRUCTURE:
The ACCA fee structure is designed differently; students have to bear different types of fees to have a smoother academic journey with ACCA in Malaysia. The types of ACCA fees are registration fee, exam fee, exam exemption fee, and ACCA subscription fee in Malaysia; to understand the exact fee, go through the table below:
1: Registration fee: This ACCA fee in Malaysia is a one-time fee that is paid initially at the time of first registration as an ACCA student; the fee is paid to ACCA Global and costs around £89.
2: Examination fee: This fee is charged every time a student registers for an ACCA exam; the fee for modules from different academic levels differs depending on the level. Here is an estimated fee charged for modules from the following ACCA levels.
- Applied Knowledge exam fees depend on the CBE centre.
- The Applied Skills exam entry fee is around £155
- Strategic Professional exams can cost approximately £274
3: Annual Subscription fee: This ACCA fee is generally paid by ACCA affiliates and professionals annually to keep their academic and professional status alive with the ACCA Global; the ACCA annual subscription fee in Malaysia is around £140.
4: Exam exemption fee: Applied to those students who have availed an exemption, this fee is charged for each paper exempted, and the fee can differ depending on the academic level of the module; here is a breakdown:
- £86 for exemptions from Applied Knowledge exams.
- £114 for exemptions from Applied Skills exams.
5: EPSM fee: This is a mandatory part of the qualification; hence, this ACCA fee can not be skipped; it is charged for Ethics & Professional Skills modules and costs around £81.
OTHER ACADEMIC EXPENSES:
Other than the ACCA fee submitted to ACCA Global, aspirants also have to take care of academic expenses such as tuition fees and study materials costs; these expenses can not be predetermined as they vary from institute to institute depending on their academic fee structure. To have an estimate of ACCA tuition fees, aspirants can go through the fee structure provided by the institute that they are interested in enrolling in; usually, institutes provide the cost of each course offered on their official websites.
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ACCA FEE PAYMENT PROCEDURE:
The process of ACCA fee payment is quite easy and completely online; students can pay fees easily sitting at home via online bank transfers. Students can generate their fee voucher via their MyACCA account and ensure the fee is paid before the deadline; once the fee is received, students will get a confirmation email. Students who find it difficult to pay this fee on their own can take guidance and support from an approved learning local partner who will help them pay the fee easily.
ACCA DUE DATES:
Meeting ACCA deadlines is quite essential to have a journey without any repercussions or additional late fee charges; students are advised to ensure they meet all the deadlines efficiently. Deadlines for each exam registration are announced beforehand, and students are expected to meet them. In case an aspirant fails to meet a due date for any reason, they can still pay the fee within the extended deadline; however, students will have to pay the late fee if they decide to pay during the extended deadline.
CONCLUSION:
Indeed, it is essential to keep up with the ACCA fee structure in Malaysia; if an aspirant is aware of the complete academic expenses and structure, they can efficiently plan their finances accordingly. Pre-planning helps them tackle the financial pressure smartly and meet the deadlines; hence, all aspirants are advised to plan their finances before stepping into the ACCA qualification.
FREQUENTLY ASKED QUESTIONS:
Q1: How can I avail ACCA exam exemptions in Malaysia?
Answer: If you are eligible for ACCA exam exemptions (have a prior degree in accounting, finance, or business), you may proceed to check the number of exemptions granted to you via the ACCA exemption calculator. After knowing the exempted papers, students can finally apply for exam exemptions via ACCA Global by paying the required fee and submitting the required documents.
Q2: What is the minimum and maximum duration to complete the ACCA qualification?
Answer: The time duration required to complete the qualification entirely depends on an individual’s academic competencies and number of exemptions; nonetheless, the qualification can be estimated to take a minimum of 2 years to complete and a maximum of around 4 years.
Q3: How can I avail of relaxation in the ACCA fee in Malaysia?
Answer: The only way to get the ACCA fee relaxation in Malaysia is to apply for scholarships or financial support, usually granted by top institutes as well as employers to support high achievers or underprivileged students.
