The Association of Chartered Certified Accountants generally known as ACCA is a global body and the oldest organisation formed in the UK since 1906. ACCA extends a professional accounting certification to accounting practitioners, fostering a global community of 2,33,000 members and 5,36,000 students reaching over 180 countries worldwide that provide services through a network of 110 offices and active centres. ACCA professionals are valued and hired by Top MNCs like Deloitte, KPMG, EY, PwC, Grant Thronton, and many more. ACCA touches the core of subjects like accounting, finance, management, and ethics, providing students with skills, knowledge, and value to succeed in their field of interest.
In this extensive article, we cover why ACCA is a smart choice in Finance careers and how aspiring students and professionals can ease through their examination in record time with paper exemptions and supplement his / her skill sets by learning the new accounting standards.
Why do ACCA Members Stand Out in the Job Market?
- ACCA curriculum covers a wide range of subjects including accounting, auditing, taxation, financial management, and business law which makes them familiarise with the specialised knowledge and applied skills needed to excel in their respective roles.
- ACCA includes an Articleship/Internship for 36 months where students can get hands-on experience in practical real-world situations, enriching their problem-solving skills.
- ACCA adheres to a strict code of professional ethics and conduct and instils the quality of ethics, integrity, and accountability in practice in their profession.
- ACCA inculcates practical thinking to analyse financial data, get meaningful insights, assess risk and make informed decisions.
- Their expertise in financial regulations, accounting practices, taxation laws, and advisory services helps them ace through complex regulatory environments and ensure compliance with legal requirements.
ACCA professionals are high in demand in most countries and serve diverse roles in auditing, taxation, financial planning, and advisory services. Many commerce students who are at different stages of the ACCA route can expertise in their careers through alternative paths, and excel in areas of finance, management, and entrepreneurship.
Why choose ACCA over CA?
Exam Focus
ACCA: Covers international financial reporting standards, taxation, management accounting, and business ethics
CA: Primarily Indian accounting standards, taxation, auditing, and financial management
Articleship
| Features | CA Articleship | ACCA PER(Practical Experience Requirement) |
|---|---|---|
|
Mandatory |
Yes |
Yes |
|
Duration |
3 Years |
3 Years |
|
Timing |
After Intermediate Level (Group 1) |
Before, during, or after exams
|
|
Structure |
2 years in CA firm, 1 year in industry with certain companies approved by the ICAI (optional)
|
No specific structure or location is mandated. Any relevant work experience in accounting, finance, or business-related roles. |
|
Focus |
Practical exposure to various accounting, auditing, and taxation tasks. |
Application of theoretical knowledge gained through the ACCA exams in a practical setting. |
|
Benefits |
Develops practical skills and knowledge.
Builds a professional network within the CA community.
Gets a head start in the job market.
|
Provides flexibility to gain experience according to career goals.
Earn while learning.
Exposure to different industries and roles.
|
Duration for Completion of CA and ACCA
In CA, a candidate should clear both the groups of IPCC to take the next step towards the final examination and it can be a humongous task for most of the candidates. They may not clear both groups in one attempt, which leads to years of repeated preparation that may extend 5 years or more. But ACCA takes a shorter time to complete as candidates can individually clear the exams and attend at least 4 papers per year. For eg: If a student has appeared for 4 exams and cleared 3 exams, he/she has cleared 3 exams. Then they can focus on the remaining 10 papers which ultimately will lead to ACCA Professional Certification/ Qualification.
Eligibility
To prepare for ACCA one must qualify a 10 +2 examination with 65% marks in Maths/ Accounts and English, and a minimum of 50% in other subjects.
To prepare for CA, one must qualify the 10 +2 examination.
Recognition
ACCA: Recognized in over 180 countries, it provides wider career options globally.
CA: Highly respected in India, it opens doors to top Indian accounting firms and companies.
Salary Potential
ACCA: Competitive salaries globally, and potential for higher earnings in developed countries.
CA: Competitive salaries in India, often higher than non-CAs with similar experience.
Learning Trajectory of ACCA Course
Knowledge Level
- Business and Technology(BT)
- Management Accounting(MA)
- Financial Accounting(FA)
Skill level
- Corporate and Business Law(LW)
- Performance Management(PM)
- Taxation(TX)
- Financial Reporting(FR)
-
Audit and Assurance(AA)
- Financial Management(FM)
Professional Level
Knowledge Level
- Strategic Business Leader (SBL)
- Strategic Business Reporting (SBR)
Electives or Optional Courses
- Advanced Financial Management (AFM)
- Advanced Performance Management (APM)
- Advanced Taxation (ATX)
Ethics and Professional Skill Module
Case studies give scenarios on ethical values and real-life situations in the business environment. This module tests the integrity and righteous attitude of the ACCA aspirants.
How do ACCA Paper exemptions work for various commerce students?
ACCA Paper exemptions are allowed for people who attended a curriculum, professional qualification, or academic programme in the field of commerce and management.
| Qualification | ACCA paper exemptions | Remaining examination to Qualify |
|---|---|---|
|
12th-pass students |
No exemption, but can appear for ACCA through (Foundation in Accountancy)FIA Route
|
13 Papers
|
|
Commerce Graduates
Appeared/ Appearing
* Enrolled Institution/ University is accredited by ACCA for paper exemption
|
Up to 4 Paper exemptions
(BT,MA,FA,LW)
|
9 Papers |
|
MCom/MBA Students
Appeared/ Appearing
* Enrolled Institution/ University is accredited by ACCA for paper exemption
|
Up to 4 paper exemptions
(BT,MA,FA,LW)
|
9 Papers |
|
B-Com + CA-IPCC |
Up to 6 paper exemptions
(BT, MA, FA, LW, TX, AA)
|
7 papers
|
|
CA-IPCC only |
Up to 5 paper exemptions
(BT, MA, FA, TX, AA)
|
8 papers |
|
CA Final Cleared |
Up to 9 paper exemptions
|
4 papers |
|
ISDC’s ACCA Professional Qualification Pathway Programme |
||
|
Queen Margaret University
Bsc International Finance
*Regular Degree Enrolled Institution/ University is accredited by ACCA for paper exemption
|
Up to 9 paper exemptions |
4 papers |
|
Queen Margaret University
Post Graduate Diploma in International Finance
|
Up to 9 paper exemptions
|
4 papers
|
|
Queen Margaret University MBA in International Finance
|
Up to 9 paper exemptions |
4 papers |
| Details of Courses offered by ISDC’s ACCA Professional Qualification Pathway |
|---|
| ISDC’s ACCA Professional Qualification Pathway | Queen Margaret University BSc in International Finance | Queen Margaret University MBA in International Finance | Queen Margaret University PGD in International Finance |
|---|---|---|---|
|
Eligibility |
|
|
|
|
How to Enrol? |
12th Students Enrol for the programme after 12th Standard |
Enrol for the programme during or after the Regular Degree. |
Enrol for the programme after the Master’s Degree. |
|
|
Degree 2nd Year Completed Students
Enrol for the programme after completion of 2nd Year Degree
|
Alternatively, working professionals are also encouraged to enrol. |
Alternatively, working professionals are also encouraged to enrol. |
|
Mode of Study |
Blended Mode |
Blended Mode |
Blended Mode |
|
Benefits |
The programme covers Knowledge & Skill level modules of
ACCA Professional Qualification
Accredited by ACCA for attaining upto 9 Paper
exemptions from Knowledge & Skill level examinations
Complete ACCA P-Level Papers and become an ACCA Affiliate
|
The programme covers Knowledge & Skill level modules of
ACCA Professional Qualification
Accredited by ACCA for attaining upto 9 Paper exemptions from Knowledge & Skill level examinations Complete ACCA P-Level Papers and become an ACCA Affiliate |
The programme covers Knowledge & Skill level modules of
ACCA Professional Qualification
Accredited by ACCA for attaining upto 9 Paper exemptions from Knowledge & Skill level examinations Complete ACCA P-Level Papers and become an ACCA Affiliate |
|
Programme Duration |
9 Months |
12 Months |
8 Months |
|
Initial Payment to secure a seat. |
Applicable for 12th Students only Secure seat with 300GBP. Degree 2nd Year Completed Students Not Applicable |
Not Applicable |
Not Applicable |
|
Programme Cost |
1200 GBP |
1800 GBP |
1200 GBP |
Will ACCA coaching help in your ACCA preparation?
Although a person can do their ACCA preparation by themselves, ACCA coaching helps individuals take the long pathway short by the ACCA experts mentoring them. Whether it is offline or online, the aspirants are streamlined to adapt to a clear roadmap and exam strategies, exam simulations.
Offline Mode
Studying ACCA offline encourages collaborative and experiential learning with personal interaction with faculty and peers in the same environment.
Studying ACCA course offline or face-to-face can be an excellent choice for aspirants:
- Those who are full-time ACCA aspirants
- Those who are not employed in a full-time job
- Those who are on a career break
Online or Blended Mode
Studying ACCA online can be a boon for aspirants who are
- Working professionals managing ACCA preparation with a full-time career
- Full-time Degree Students who need flexibility in their studies
- Have the flexibility to attend live classes by experts or take the same recordings offline to watch and learn repeatedly
- Have the plan to upgrade their career, upskill with better knowledge in finance
- Single-source access to many online learning tools and supportive platforms well streamlined by the educators
Self-paced
In self-paced learning, students do not have the pressure of setting deadlines, unlike regular ACCA coaching giving them a pathway for preparation. They can make progress on any subject at their own pace. It promotes the freedom of learning with self-reflection and discipline to complete the levels of examination from time to time.
Career choices after the ACCA Course
Financial Accountant
- Analyse financial data, prepare financial statements, budget, and forecast, oversee financial operations, and generate insights and reports for management to make decisions.
Financial Analyst
- Conduct market research, analyse risk and potential returns of financial instruments, develop financial models, and communicate recommendations to management.
Auditor
- Statutory Audit: Prepare financial statements, findings, and reports for local bodies, ensure ethical standards in auditing procedures, and summarise findings and recommendations for stakeholders.
- Internal Audit: Prepare audit reports for the organisation’s internal control systems, risk management practices, and authority.
- Forensic Audit: Audit financial irregularities, misconduct, and fraudulent practices. Provide evidence for legal proceedings.
Advisory
- Accounting Advisory: Implement accounting policies, and ensure financial reporting and compliance.
- Risk Advisory: Identify potential financial risk assessment, and internal control systems to evaluate financial reporting, fraud detection, and prevention.
- Mergers & Acquisition: Asses financial risk, develop financial models to understand M&A Transactions, conduct post-transaction analysis.
Tax Specialist
- Help clients with tax law, and regulations and minimise liabilities. Prepare tax returns, and reports, and represent clients before tax authorities.
Risk management
- Analyse potential risks, develop risk mitigation strategies, track risk indicators, and regulatory changes, and communicate risk assessment with management.
Chief Financial Officer
- Lead all financial operations, manage financial resources, and implement financial strategies aligned with corporate goals and objectives.
Investment Banker
- Work on financial modeling, and valuation, advise companies on mergers and acquisitions, raising capital, and other financial transactions.
Audit Manager
- Lead Audit teams, oversee audit reports, practice risk management framework, and effectively solve complex auditing issues.
Financial Controller
- A key role in strategic leadership in managing financial performance, overseeing the budgeting process, mitigating financial risks, and serving as a data-driven decision-maker for senior management.
Conclusion: Is the ACCA Course the best choice for you?
ACCA is a globally recognised qualification, respected and accepted in 180+ countries. Their diverse exposure to finance and accounting curricula makes them highly competitive over other non-ACCA accounting professionals in terms of skills and career progression. So, if you are looking for a versatile range of roles in finance and accounting careers, and need to pace your professional development in record time along with your academic years or profession, ACCA Course is the best choice for you!