Do you dream of pursuing a profession in accounting and finance with the ACCA in the UK? We’ve created a list of frequently asked questions from aspiring ACCA professionals to help you get started on your ACCA journey!
In today’s fast-paced world, professional credentials have now become essential for career growth. This is also true of the ACCA certification, which is becoming more and more well-liked by prospective professionals all around the world. This post aims to answer all the common questions related to the ACCA qualification with a thorough explanation about its scope and recognition, the total cost, and career scope. So stay tuned and keep scrolling!
Fundamentals
1. What is the course of ACCA?
Ans: Accounting, financial reporting, auditing, taxation, business finance, and financial management are just a few of the facets of chartered accountancy that are covered in the ACCA course. Candidates must complete the 13 ACCA papers that make up the syllabus.
2. How many ACCA levels are there?
Ans: There are three levels in the ACCA degree:
Applied Knowledge level (three exams),
Applied Skills level (six exams)
Strategic Professional level (four examinations),
3. Can you do ACCA without a degree?
Ans: Even if you lack a degree, ACCA is a great choice. As soon as you graduate from high school, you can begin your ACCA career. You can also be eligible for exam exemptions if you have extra credentials, such as a relevant degree or postgraduate coursework.
4. Can I study ACCA on my own?
Ans: It is possible to study alone for the ACCA, and many students who do so pass their ACCA exams. Self-study, however, requires a great deal of planning, dedication, and access to the right materials. Consider Mirchawala for the right guidance and support.
5. Is ACCA harder than a degree?
Ans: As you advance through the qualifications, the subjects grow exponentially more demanding, making ACCA appear tougher than an accounting degree.
6. How do I start ACCA for beginners?
Ans: Here is the step-wise process to start the ACCA journey:
- Check the syllabus and decide which exam you must take.
- Register and pay for your ACCA exam.
- Create a study schedule.
- Acquire the required amount of work experience.
- Take your exams
- Join ACCA as a member!
Scope and Market Demand
7. Is ACCA worth it in the UK?
Ans: Obtaining a certified qualification is the key to a prosperous career for aspiring accountants and finance professionals. One of the most prestigious accounting degrees in the world, the Association of Chartered Certified Accountants (ACCA) is also renowned for quality in the UK accounting industry.
8. Is ACCA in demand in the UK?
Ans: Given that ACCA is based in London and the certification is widely accepted in many industries, the demand for ACCA is huge in the UK. Professionals with ACCA qualifications are highly sought after in the banking, finance, and consulting sectors in the United Kingdom.
Duration
9. How long is the ACCA course in the UK?
Ans: The exams require 5300 learning hours in total, and they often take three to four years to finish. A professional ethics module and 36 months of work experience are also required.
ACCA Cost
10. What is the cost of ACCA in the UK?
Ans: The total ACCA cost in the UK varies according to the university and level of study. However, ACCA tuition should cost between £2,000 and £5,000 per year. Additionally, exam fees—which are currently £100 per exam—must be paid.
Institute
11. Which institute is best for ACCA in the UK?
Ans: Mirchawala’s Hub of Accountancy is one of the best online ACCA institutes in the UK. You may start an exciting career as a finance expert and easily pass the ACCA exam with the professional-level training this coaching provides.
Salary
12. What is the ACCA salary in the UK?
Ans: Depending on your knowledge and years of expertise, the average ACCA salary in the UK might range from £25,000 to over £100,000.
13. What is the salary of an ACCA in London?
Ans: On average, the salary of an ACCA in London is £33,120 annually. In Ireland, the average is marginally higher at £33,830. In addition to competitive salaries, they receive bonuses, healthcare, life insurance, pensions, and recreational opportunities.
14. What is the highest salary in ACCA?
Ans: London, the UK’s financial center, pays ACCA professionals the most, with an average salary ranging from £50,000 to £80,000.
15. What is the minimum salary of an ACCA in the UK?
Ans: For entry-level roles, the minimum ACCA salary in the UK normally is around £25,000 to £35,000 per year.
Additional
16. How many people pass the ACCA exams the first time?
Ans: The average ACCA exam pass percentage worldwide ranges between 40% and 55%, according to official ACCA sources. Individual exam papers, however, could have varying pass percentages. Results are generally shared with students 40 days after the exam date.
17. What is the easiest way to get ACCA?
Ans: To become an ACCA member, you should have at least three years of relevant work experience. You can get the experience before, during, or following your ACCA exam. The work experience criterion is satisfied by experience in fields such as audit, tax, financial accounting, management accounting, or finance.
Mirchawala offers the best ACCA coaching in the UK to help you on your way to becoming an ACCA professional. We will support you throughout the entire process. Contact us to know more about the ACCA courses in UK!