Understanding the Cost of ACCA Certification in Nepal

Earning the ACCA also known as the Association of Chartered Certified Accountants qualification is a beaten track for aspiring professionals, across the globe, including Nepal. But hold on to your horses. Before you make any plans, it’s wise to consider the costs involved.

Today in this blog post we will shed light on the estimated costs to complete the ACCA program in countries like Nepal. Moreover, we’ll break down the ACCA fee structure in Nepal, including the exam fees, tuition fees, and other associated expenses. To be more helpful, we’ll also share information regarding some preparatory courses offered by various colleges in Nepal and their fee structure.

ACCA Support and ICAN’s Role in Nepal

Fortunately, unlike other countries, in Nepal, aspiring accountants have a robust network of support behind them. The ACCA office conveniently located in Kamaladi is there to cheer students on. They hold events frequently to get up-and-coming accountants excited about this field and work with local institutions to ensure learning is supportive and effective at the same time.

Whereas, the renowned Institute of Chartered Accountants of Nepal (ICAN) has acted as a guiding hand for the profession since 1997.  They oversee chartered accountancy courses and even held the very first CA exam back in 2000. All in all, they strive to make ACCA in Nepal more accessible for students.

The Cost of ACCA in Nepal

Many Nepali students dream of becoming a chartered accountant. However, the primary concern for all the students is the ‘Cost’ of completing the course. To address this inquiry and offer a dependable estimate of the costs to be incurred, we have constructed the following comparative table.

Please note: The fees payable to ACCA are revised annually. You can check their website for more information. Moreover, the institution fees vary based on your chosen ALP program. Here’s the breakdown of the cost to complete the program:

Milestone

Fees Charged by Local Institution (NPR)

Fees Charged by ACCA (GBP £)

College Entry

20,000

–

ACCA Registration

–

45

Knowledge Foundation

60,000 ( Tuition Fees)

363 (Exam Fees)

Developing Skills

97,500 (Tuition Fees)

207 (Exam Fees)

EPSM

–

75

Strategic Pro Mastery

60,000 (Tuition Fees)

748 (Exam Fees)

Annual membership

–

192 (Subscription fees for first two years)

Total Investment

237,500

2,230

As we mentioned earlier, based on the choice of your institution, the figures mentioned above could vary. But the cost mentioned is the average. However, if you wish to pursue CA (Chartered Accountancy) from ICAN, the ballpark cost is:

Milestone

Fees Charged by Local Institution (NPR)

Fees charged by ICAN (In NPR)

Admission

10,000

–

CAP- I Registration

–

30,000

CAP- II Registration

–

34,000

CAP- III Registration

–

40,000

CAP- I

70,000 ( Tuition Fees)

3,000 (Exam Fees)

CAP- II

100,000 (Tuition Fees)

7,000 (Exam Fees)

CAP- III

                80,000 (Tuition Fees)

8,000 (Exam Fees)

Total Investment

260,000

122,000

Tips to Reduce the Cost of Pursuing ACCA in Nepal

Fortunately, the world of accounting and finance offers exciting opportunities for aspiring, young Nepalese professionals. While both the Association of Chartered Certified Accountants (ACCA) qualification and the Chartered Financial Analyst (CFA) qualification are highly sought-after and recognized credentials awards, affording them can be troublesome.

Here are some useful tips specifically customized for Nepalese students aiming to either ace the prestigious CFA or ACCA exam (leading to numerous ACCA jobs in Nepal):

  • Leverage the ICAN exemptions and reduce the ACCA registration fees.
  • Look out for the scholarships offered by the CFA Institute, ACCA, or local institutions in Nepal. They can significantly reduce costs for either credential award.
  • Utilize online study materials and resources provided by CFA institute, ACCA, or accredited providers for a budget-friendly alternative to classroom learning.
  • Connect with other aspiring professionals to share strategies, resources, and support. This will help in reducing the additional costs associated with the qualification while boosting learning.
  • Lastly, plan your finances to avoid financial burdens during the course.

Recommended Reading:

Have You Qualified ACCA Exam?

CFA Qualification for Finance Professionals

Final Words

While the ACCA qualification open doors to numerous opportunities in the accounting and finance sector, its cost can be a barrier. The estimate suggests the total cost can range between 500,000 NPR to 600,000 NPR. However, the tips mentioned above can help you manage the expenses effectively.

Don’t let the cost hold you from achieving your dream financial goals. By implementing the right strategies, you can reduce the financial burden of pursuing the ACCA qualification. Never let this rewarding career in finance await.

 

Read more: Top ACCA colleges in Nepal