The Association of Chartered Certified Accountants (ACCA) exam is a globally recognised qualification for aspiring accountants and finance professionals. This article acts as a guide and provides in-depth information regarding ACCA from the definition, to the structure and eligibility.
What is ACCA Exam?
The ACCA exam is a professional qualification offered by the Association of Chartered Certified Accountants, a leading international accountancy body. The exam is designed to equip individuals with the skills and knowledge required to build successful careers in accounting, finance, and management.
The ACCA qualification is recognised in over 180 countries, making it one of the most efficient professional certifications in the financial sector. It covers a wide range of subjects, including financial and management accounting, taxation, audit, and business law. The official ACCA body has partnered with almost 7,300 Approved Employers and over 80 global accountancy partners to ensure their recognition, making the ACCA exam one of the most competitive one.
How to Register for ACCA Exam?
To register for the ACCA examination, the student must register in the official ACCA website. The registration process involves the following steps:
- Visit the ACCA Website: First, visit the official ACCA website and navigate to the 'Apply Now' section under the 'Join ACCA' menu.
- Fill the registration form with accurate personal and educational details.
- Upload required documents: Proof of identity:
*Birth Certificate, Passport, Driver’s license or Aadhar Card
* Educational Certificates: This includes transcripts and documents proving your eligibility
* Passport size photograph: A recent photograph for your ACCA profile
· Pay the registration fee: For the year 2024 the initial registration fee is £30 which is equivalent to 3361.96 INR.
· Confirmation of registration and ACCA Number: After the registration process is complete an email will be sent to you confirming your registration as a student and you will also receive your unique ACCA Number. This number is vital for future communication with ACCA.
ACCA Exam Dates
ACCA Exams occur four times every year. In March, June, September and December providing students with more opportunity to give the exam and to progress their academic career. The ACCA exam dates for the year 2024 are from December 2-6, and for 2025 from March 3-7. The dates are subject to change and will be informed 6 months ahead of time.
ACCA Exam Fees
The fees are for different levels of ACCA exams: Applied Skills, Ethics and Professional Skills Module, and Strategic Professional (both essentials and options).
All exams listed have a standard entry deadline of November 4, 2024 for the December 2024 exam session.
Fees vary depending on the exam level and type:
· Applied Skills exams: £143
· Ethics and Professional Skills Module: £79
· Strategic Business Leader: £252
· Other Strategic Professional exams: £180
ACCA Exam Pattern
The ACCA qualification consists of 13 exams, divided into three levels:
- Applied Knowledge (3 exams)
- Applied Skills (6 exams)
- Strategic Professional (4 exams)
Each exam is designed to test the students in different areas of skills and knowledge. The exam structure include:
- Multiple-choice questions
- Short answer questions
- Scenario-based questions
- Case studies
The duration of each exam varies from 2 to 4 hours, depending on the level of the paper.
Applied Knowledge Level:
* BT, MA, FA: 100% Objective Type Questions (OTQs)
* Divided into 2 sections
* Passing mark: 50%
Applied Skills Level:
* CL: 100% OTQs, 2 sections
* FR, PM, FM, AA, TX: Mix of OTQs and subjective questions
* Section A: 30 marks, OTQs
* Section B: 30 marks, case studies with OTQs
* Section C: 40 marks, descriptive questions
* Passing mark: 50%
Strategic Professional Level:
* SBL: 3 tasks with 2-3 sub-questions each (revised pattern from September 2023)
* AFM, APM, AAA, ATX:
* Section A: One 50-mark question
* Section B: Two 25-mark questions
* 100% subjective exams
* Passing mark: 50%
ACCA Exam Curriculum
The ACCA qualification is structured into three modules along with an Ethical And Professional Skills Module and a Professional Experience Requirement.
The curriculum includes subjects are:
Here's a concise summary of the ACCA qualification structure:
Applied Knowledge Level (3 exams):
• BT: Business and Technology
• MA: Management Accounting
• FA: Financial Accounting
Applied Skills Level (6 exams):
• LW: Corporate and Business Law
• PM: Performance Management
• TX: Taxation
• FR: Financial Reporting
• AA: Audit and Assurance
• FM: Financial Management
Strategic Professional Level (4 exams):
• Essential (2 compulsory):
- SBL: Strategic Business Leader
- SBR: Strategic Business Reporting
• Options (choose 2):
- AFM: Advanced Financial Management
- APM: Advanced Performance Management
- ATX: Advanced Taxation
- AAA: Advanced Audit and Assurance
The ACCA Professional qualification is equivalent to a UK master's degree. However the curriculum is regularly updated to accommodate global business changes, ensuring that the ACCA-qualified professionals are in the loop with recent happenings.
ACCA Eligibility
The eligibility criteria for ACCA registration in India and Bhutan is possible with various qualifications such as
* 10+2 / India School Certificate
* Intermediate Certificate
* Higher School Certificate
* Higher Secondary Certificate
* Pre-University Course
* Intermediate Public Examination
* All India Senior School Certificate
* Senior School Certificate
* Senior Secondary School Examination
The requirements for accepting the above mentioned qualifications are:
* Passes in 5 subjects (at least 3 in Year XII for 10+2)
* Must include English and Mathematics/Accounts
* At least 65% in 2 subjects
* Over 50% in the remaining subjects
The grade equivalent:
* A1-A2, B1: 70%-85%+
* B2 (Good): 60%-70%
* C1 (Satisfactory): 50%-60%
Note for Higher Secondary Certificate:
* 65% requirement
* 50% requirement
ACCA Requirements
In addition to qualifying all 13 exams the aspirants are also expected to qualify the additional requirements put forward by the ACCA. This includes completing the Ethics and Professional Skill Module which is to be completed before the Strategic Professional level exams. Another requirement is to complete the Practical Experience Requirement (PER) that includes a 36 month work experience in any financial or accounting related post.The final requirement is the Professional Development that demonstrates the skills and competencies through the work done by the aspirant. Meeting all the requirements will enable an aspirant to the complete qualification and a membership of the ACCA, granting the right to use the Chartered Certified Accountant designation.
Conclusion
The ACCA examination is a journey by itself. A very challenging yet a very satisfactory path that can lead you to a studded career in accounting and finance. With the global recognition and updates in trends along with the comprehensive curriculum opens doors to various opportunities across the globe. ACCA is not an impossible task, by knowing the course structure, curriculum, and requirement you can start preparing and also ace the exams, taking a significant step to achieving your dream career in the financial sector overflowing with chances for academic and career advancements.
Success in ACCA exams only requires a steady mindset and consistent dedication. Set your goal and work towards it to join the ranks of ACCA-qualified professionals making their mark in the world of finance and accounting.
