Association of Chartered Certified Accountants (ACCA)
The Association of Chartered Certified Accountants, established in 1904, is the international professional accounting organization that grants the Chartered Certified Accountant designation. Globally, the body imbibes 240,952 members and seeks to incorporate 541,930 potential members. It is the largest and most rapidly expanding accounting organization in the world. The ACCA professional qualification, which covers all accounting disciplines, can serve as a launching pad for a successful career in a variety of accountancy and finance fields.
ACCA in India
The Big 4 and MNCs are the major recruiters of ACCA-qualified professionals. As ACCA qualifications have grown in popularity, Indian employers are eager to hire them. PWC, EY, Deloitte, KPMG, TATA Consultancy, Embassy Group, Grant Thornton, etc. are the prime employers of ACCA candidates in India. ACCA’s extensive coverage of IFRS in its curriculum will undoubtedly benefit its members.
Why ACCA?
The minimum entry requirement for entering the ACCA qualification is 12th grade (65% marks in English and Accountancy/Mathematics and over 50% on the others) and with graduation you can get exemptions accordingly. Students who have just cleared their class 10 examinations, or do not qualify as per the above-mentioned criteria, can still register for the ACCA qualification via Foundation in Accountancy (FIA) route. It is to be noted that even candidates who are pursuing the Indian CA (Inter / Final) can qualify for further exemptions if they have received 40 or more marks in the relevant subjects even without clearing the entire examination.
The ACCA qualification offers multiple choices at a wide range of organizations. The holistic approach in its curriculum trains you to take up diverse roles; further enabling you to perform strategic tasks and fulfil roles like that of a CFO or a CEO. An ACCA can also be employed as a governance officer, a business advisor, an auditor, a business analyst etc.
To qualify as an ACCA member, a candidate will be required to do the following:
Attempt and clear 13 exams, earning you the status of an ACCA affiliate; record 3-year experience in a relevant role (the candidate can acquire the experience before/during/after completion of the qualification); and complete the ethics and professional skills module.
The 13 subjects and exams of ACCA are divided into three levels:
Applied Knowledge Level
The papers are,
⁂ Business and Technology (BT)
⁂ Management Accounting (MA)
⁂ Financial Accounting (FA)
Students are awarded the ACCA Diploma in Accounting and Business when they have successfully completed the three exams (at least one of which must have been attempted and cleared), in addition to the completion of Foundations in Professionalism module.
Applied Skill Level
The papers are,
⁂ Corporate and Business Law (LW)
⁂ Performance Management (PM)
⁂ Taxation (TX)
⁂ Financial Reporting (FR)
⁂ Audit and Assurance (AA)
⁂ Financial Management (FM)
Students are awarded the Advanced Diploma in Accounting and Business when they have successfully completed (either passed or exempt) the Applied Skills exams. (At least two of these papers must have been attempted and cleared.) and completed the Ethics and Professional Skills Module.
Strategic Professional Level
Students need to attempt 2 essential papers and 2 optional papers out of 4.
Essentials: Strategic Business Leader (SBL) and Strategic Business Reporting (SBR)
Options: (Any 2)
⁂ Advanced Financial Management (AFM)
⁂ Advanced Performance Management (APM)
⁂ Advanced Taxation (ATX)
⁂ Advanced Audit and Assurance (AAA)
Students are awarded a Strategic Professional Certificate when they have successfully completed all the Strategic Professional exams of the ACCA Qualification.
On completion of these 3 levels, you’ll be awarded an ACCA affiliate recognition.
Ethics and Professional Skills Module
Students are required to complete 20 hours of Ethics and Professional Skills Module which develops in students the complete range of skills that are demanded by the employers.
Exams & Pass Percentage
ACCA opts for a flexible study approach & has two types of computer-based exams.
- On-demand CBEs: BT, MA, FA and LW: These exams can be taken at any time of the year. Papers are 100 marks worth of objective-type questions with a pass mark of 50%. (2 Hour Exams)
- Session CBEs: PM, TX, FR, AA, FM, SBL, SBR, AFM, APM, AAA, ATX: These exams are held in four sessions: March, June, September & December. The exam duration extends to 3 hours (4 hours for SBL). Papers are 100 marks worth with a pass mark of 50%.
ACCA @ LSM
Frequently asked questions
The minimum entry requirement for entering the ACCA qualification is 12th grade (65% marks in English and Accountancy/Mathematics and over 50% on the others) and with graduation you can get exemptions accordingly. Students who have just cleared their class 10 examinations, or do not qualify as per the above-mentioned criteria, can still register for the ACCA qualification via Foundation in Accountancy (FIA) route.
The holistic approach in its curriculum trains you to take up diverse roles; further enabling you to perform strategic tasks and fulfil roles like that of a CFO or a CEO. An ACCA can also be employed as a governance officer, a business advisor, an auditor, a business analyst etc.
Being an international qualification, the ACCA qualification offers multiple choices at a wide range of organizations abroad. The average starting salary of an ACCA qualified fresher ranges from INR 3,50,000 to INR 4,00,000 per annum in India alone (may change depending on the situations). The pay scale is bound to increase overseas.
You can enter for two consecutive exam sessions at the same time and you can book up to 4 exams per session, and up to 8 unique exams per calendar year. It would be up to you to decide how much time you have to study and prepare for examinations and how many you would like to enter for.
Yes, our team performs the initial registration procedures and provides all necessary guidance required for exam registration.
Students can sit a maximum of 4 exams at each exam session, and a maximum of eight distinct exams each calendar year. You could therefore complete all of the exams in 2 years. However, as you also need 3 years of practical work experience before you can become an ACCA member & be considered a qualified accountant, the qualification takes a minimum of 3 years.
Students can sit a maximum of 4 exams at each exam session, and a maximum of eight distinct exams each calendar year. You could therefore complete all of the exams in 2 years. However, as you also need 3 years of practical work experience before you can become an ACCA member & be considered a qualified accountant, the qualification takes a minimum of 3 years.
Certificate of Achievement: Students are awarded a Certificate of Achievement if they achieve a pass mark of 85 per cent or above for individual passes in Business and Technology (BT), Management Accounting (MA) and Financial Accounting (FA) from June 2011 onwards and Corporate and Business Law (LW) from June 2015 onwards.
ACCA Diploma in Accounting and Business (RQF Level 4): Students are awarded the ACCA Diploma in Accounting and Business (RQF Level 4) when they have successfully completed Business and Technology (BT), Management Accounting (MA) and Financial Accounting (FA) (at least one of which must have been sat and passed), plus completion of Foundations in Professionalism. Students who obtain full exemptions will not be awarded the Certificate.
Advanced Diploma in Accounting and Business: Students are awarded the Advanced Diploma in Accounting and Business when they have successfully completed the Applied Skills exams (at least two passes are required, one of which must have been sat on or after 1st June 2011), plus completion of the ethics and Professional Skills module. Students who obtain full exemptions will not be awarded the Certificate.
Strategic Professional Certificate: Students are awarded a Strategic Professional Certificate when they have successfully completed all of the Essentials exams of the ACCA Qualification (Strategic Business Leader (SBL), and Strategic Business Reporting (SBR)) and any two of the Options exams from Advanced Financial Management (AFM), Advanced Performance Management (APM), Advanced Taxation (ATX) and Advanced Audit and Assurance (AAA).
