The ACCA (Association of Chartered Certified Accountants) qualification is a professional career path, but it means much more than just being a certified accountant. It opens the door to forming part of an elite group of respected professionals worldwide. With recognition in over 180 countries, you can work anywhere in the world.
ACCA and CA ‘s eligibility criteria is similar to a certain extent. ACCA has published detailed eligibility criteria for the 2024 exams on its official website.
Candidates are advised to carefully review these requirements prior to submitting their applications.
Check the eligibility criteria here: https://www.accaglobal.com/
ACCA after 12th
The eligibility criteria of ACCA mentioned that one should be at least 18 years old and a qualified candidate with higher secondary education and aggregate marks of more than 65% in Mathematics/Accounting and English and minimum aggregate of 50% in all the other subjects.
Also read: What is ACCA Exam?
ACCA after Graduation
If the students of the commerce stream are looking out to have the degree in B.Com, BBA, or BMS, then they can appear for the ACCA exams.
Similarly, graduates with BA/B.Sc. Degrees from recognized universities can also apply for the ACCA course on condition that they have completed their ACCA Foundation diploma as a prerequisite.
ACCA after 10th
The ACCA exam is divided into 3 levels but students who want to pursue ACCA after 10th also have an additional level called Foundation in Accountancy.
This is specifically designed for those following after Class 10th and for students who never went through any accountancy study. ACCA FIA can be done in three levels: Knowledge Level, Skill Level, and Professional Level. There are total 13 papers divided into the three categories to clear for gaining the ACCA qualification.
Foundations in Accountancy:
• Diploma in Financial and Management Accounting (RQF Level 2) from ACCA
• ACCA Diploma in Financial and Management Accounting (RQF Level 3)
• ACCA Diploma in Accounting and Business (RQF Level 4)
• Certified Accounting Technician (CAT)
ACCA after CA
Indian Chartered Accountants (CAs) can avail of up to 9 exemptions from ACCA's 13 papers, which means they can be taken straight to the professional level with just 4 papers to clear. In addition to this, it saves time while providing a very strong qualification. For CA IPCC Students, that is, Foundation and Intermediate, an exemption from appearing in 5 ACCA papers.
Your CA experience along with ACCA's global learning gives you a well-balanced finance professional. Besides, your CA internship after IPCC group 1 is treated as practical work under ACCA. CA has a tough pass rate while that of ACCA is easier at 40-50%.
Other Factors Affecting Eligibility Criteria
Minimum Age Limit:
The student needs to be a minimum of 16 years of age to enroll in ACCA Foundation diploma course.
Minimum educational requirement :
Secondary education: You ought to have had your secondary education, whereby at least you must have done five separate different subjects, of which one has to be Mathematics, another English, and other three A-C level.
Higher Education:
Graduates of respective accredited institutions may be exempted from certain exams they have passed or attended depending on their degree subject and coverage. Working Experience
PREVIOUS PROFESSIONAL EXPERIENCE:
Now, you can join any profession or employment along with this ACCA. However, relevant work experience of 36 months is a complete requirement, which might be gained either prior or during preparation time for your exams, or even after completion of your examination.
English Proficiency:
If you are a native of some other country other than English-speaking then you will have to demonstrate command over the language by completing some standardized test or by justifying that you had passed your qualifications in English.
Why Study Acca? Benefits Of Doing ACCA
Studying ACCA (Association of Chartered Certified Accountants) has a plethora of benefits and opportunities for aspiring professionals in accounting and finance.
Here are some reasons why studying ACCA is beneficial:
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Global Recognition: ACCA is a globally recognized qualification, pursued by more than 5,44,000 students in 181 countries, making it a "Global Chartered Certified Accountant.
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There are Multiple Options to complete: One can qualify for graduation with dual degrees by clearing 13 papers, allowing one to simultaneously complete this qualification during their graduation.
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Multiple Diverse Job Opportunities: ACCA unlocks an array of opportunities both in India and abroad: corporate financial reporting, audit, taxation, risk management, and many more.
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Flexibility in Exams: ACCA exams are all online, application-based, with flexible choices for exam schedules that allow a student to focus on a single paper at a time.
Career opportunities with ACCA
One should understand the ACCA exam pattern and structure before beginning certification. Then, only proper research work and preparation would rely on the exam syllabus.
Once a candidate has finished ACCA certification, a number of job opportunities await him. Some of the these are
1) Financial Accountant
Recording, summarizing, and interpreting business transactions with accuracy
Analyzing financial information through statements and balance sheets
Preparation of account for third party- the tax department, creditors and investors
Salary: ₹4.6 LPA.
2) Credit Controller
Coordinates the debt and credit functions of a company
Fosters good relationships with the clients to ensure effective credit management.
Responsible for keeping a tab on debt, client creditworthiness, ranking the clients, and reporting their status.
Salary: ₹4.2 LPA
3) Financial Controller
The Accounting function is headed by a top managerial position
Maintaining accurate financial records and always being up to par with the legal requirements of the state.
Involvement in budgeting processes, compliance audits, and financial data evaluation
Salary: ₹ 19.8 LPA
4) Corporate Treasurer
Ensuring the capital of an organisation is acquired safely, and formulating financial policies
Manages funds during growth, advises about investment opportunities, and reduces financial risks.
Capital markets, liquidity management, corporate financial management, risk management and treasury operations.
5) Auditor
That works upon authenticating accuracy pertaining to the financial and operational data and report within organisations
Working usually with large accounting firms such as Deloitte, PwC, EY, and KPMG.
Ensures compliance with regulatory framework and increases investor and shareholder confidence
Salary: ₹5.5 LPA
6) Tax Consultant
Tax consultants can be found in accounting or professional services firms.
Provides tax advisory services on national as well as international tax legislation and also assists clients in their personal as well as professional tax matters
Helps the organizations to fulfill their tax obligations
Salary: ₹5.8 LPA
Enroll now for ACCA Coaching Classes in Bangalore
Conclusion
The stature of ACCA qualification holds great importance globally and is one of the most significant accounting qualifications in the world. The acceptance of this qualification worldwide sets up exciting avenues of ACCA jobs and careers both in India and abroad in multifarious sectors.
Paper-based examination will now allow you to combine the certification process with your lifestyle while pursuing graduation.
After completing the ACCA qualification, one can go into professional practice and get jobs in the most prominent organizations with competitive starting salary benefits. The experience of certified professionals will ensure them becoming the CFO or CEO.
