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ACCA course details: Full form, Eligibility, Exemptions, and Qualifications

ACCA full form?

ACCA full form stands for Association of Chartered Certified Accountants. Considered to be one of the most prestigious qualifications in the world in the field of finance and accounting, this includes a global body of professionals who are renowned experts in the fields of accounting and finance.

ACCA Eligibility Criteria

In order to get qualified for one of the most sought-after qualifications in the world, it is important to ensure that one is fully eligible for it. ACCA course full details include the criteria and full information about eligibility criteria.

In order to be eligible for ACCA qualification, the following academic qualifications are necessary to attain-

An individual must have qualified for their 10+2 examinations with at least 65% aggregate in Mathematics/Accounts & English
At least 50% aggregate in other subjects

ACCA Course Exemptions

While there are 13 papers in total that an individual has to complete in order to get qualified for ACCA, there are various exemptions that are offered to individuals depending on their academic qualification levels. The following tables describe the various ACCA course full details and exemptions at various levels.

Academic Qualification	Exempted Papers
Class 12th	None of the papers are exempted and an individual is required to sit for all 13 papers to become ACCA qualified.
Graduation	If an individual has completed B. Com they are exempted from up to 4 papers however if they have done BBA they can be exempted from up to 1 paper only in order to get their ACCA qualification.
Foundation CA	If an individual has completed their foundation CA course without graduation, they cannot be exempted from any of the papers and have to appear for all of them. However, if they have completed their graduation the exemptions are similar to those as described above.
Inter CA	If an individual has completed their Inter CA course they have exemption of up to 5 papers, however if they have completed their Inter CA course alongside B.Com, they can be exempted from up to 6 papers.
Final CA	Finally, if an individual has completed their final CA level they can be exempted from up to 9 papers to get their ACCA qualification.
CA qualified	If an individual is qualified CA then they can be exempted from 9 papers to get their ACCA qualification.

Fundamentals

Infographic on level wise papers

What is the ACCA qualification?

Association of Chartered Certified Accountants or ACCA is one of the most highly respectable qualification globally which involves expertise in finance and accounting. ACCA qualification can open doors to careers in various domains of corporate finance, finance accounting and other business-related areas along with high recognition from employers across the globe.

This reputed qualification involves three levels that an individual has to complete in order to get certified. The three levels are described below as follows-

Applied Knowledge:

The first level involves and consists of three papers that help an individual in developing and building upon foundational knowledge of important concepts of finance and accounting. The three papers under this level are-

Accountant in Business (AB)
Management Accounting (MA)
Financial Accounting (FA)

Applied Skills:

The second level of the ACCA involves six papers that help an individual focus on their technical knowledge of the concepts of finance and accounting. The six papers under this level are-

Corporate and Business Law (LW)
Performance Management (PM)
Taxation (TX)
Financial Reporting (FR)
Audit and Assurance (AA)
Financial Management (FM)

Professional:

The last level of ACCA involves four papers that help develop the professional skills of individuals. At this level, there are two papers that are mandatory, however, there is an option to choose the other two from a group of four

Mandatory Papers

Corporate and Business Law (LW)
Performance Management (PM)

Options (Choose any two out of 4 options)

Advanced Financial Management (AFM)
Advanced Performance Management (APM)
Advanced Taxation (ATX)
Advanced Audit & Assurance (AAA)

Benefits of becoming a member of ACCA

Being a member of ACCA brings along with it a lot of benefits and advantages for those who consider it. Following are some of the benefits of becoming an ACCA member-

ACCA is an internationally recognized degree which can open doors for individuals who wish to work abroad in countries like United Kingdom, United States, Australia, Canada among others. This enhances employability and provides work opportunities globally. To know about the latest jobs update, anyone can check out the official website of ACCA through this link: https://jobs.accaglobal.com
Being a member of this prestigious group can provide a lot of networking opportunities with like-minded individuals, thus enabling intellectual curiosity.
ACCA membership can enable an individual to get exclusive resources including Continuing Professional Development (CPD), discounts on conferences, online classes, and practice papers. This ensures that professionals stay updated with new developments and keep upgrading themselves.
ACCA membership brings along with it great monetary benefits, as ACCA professionals earn a higher salary as compared to others.
This membership provides prestige to one’s professional profile and gives increased respect and recognition within the community.

Pathway to become an ACCA member

There are a number of steps that one is required to take in order to become an ACCA member. Following are some of the steps and processes that must be followed and kept in mind-

Check your eligibility: The first step towards starting your ACCA journey is to check for your eligibility. While eligibility conditions may vary country to country, at the common level one must have completed their secondary education. You can find more details on eligibility criteria on our ACCA course details page.

Complete your registration with ACCA: After ensuring that you meet the eligibility requirements, you must register for ACCA as a student. This will require a one-time registration fee.

Pass the three levels of ACCA course: After the registration comes the main part of passing all the three levels of ACCA course. The whole course has been divided into three levels- Applied Knowledge, Applied Skills and Professional, which consists of 13 papers altogether. Check out more details on the three levels and how to prepare for them on our ACCA course details page.

Complete the Practical Experience Requirement: Once all the 13 papers have been cleared, an individual must meet their practical experience requirement in order to get ACCA certified. This involves supervised work of three years in finance or accounting roles.

Apply for ACCA membership: After all the theoretical and practical requirements have been met, an individual can go ahead and apply for the ACCA membership and pay the membership fee by providing relevant documentations of eligibility. Once accepted by the ACCA committee, one becomes a member of this prestigious community.

Becoming ACCA qualified gives one the opportunity to use the designation of ‘Chartered Certified Accountant’.

What type of qualifications does ACCA offer?

Along with ACCA main course, it also offers a number of qualifications which can be helpful for someone aiming for a career in finance and accounting. Check out our ACCA course details page for more information on the ACCA main qualification, ACCA course fees, eligibility etc.

Following is the list of various programs as provided by ACCA-

Certificate in Sustainability for Finance
Diploma in International Financial Reporting
Foundations in Accountancy
Certified Accounting Technician
Certificate in Business Accounting
Certificate in Sustainability for Finance
Certificate in International Auditing
Certificate in Public Financial Management
Certificate in International Public Sector Accounting Standards
Advanced Diploma in Accounting and Business

Conclusion

ACCA or The Association of Chartered Certified Accountants is one of the most respectable qualifications in the world. It is a global qualification which is recognized in more than 180+ countries. Becoming ACCA qualified gives one an opportunity to network with individuals around the world and contribute to the field of finance and accounting. This qualification opens doors to various reputable careers in the fields of finance and accounting.

In order to become ACCA qualified, one must pass the three levels of ACCA course which includes 13 papers and practical experience requirements. After this, an individual can become a member of the ACCA community by applying for membership.

FAQs

In order to be eligible for ACCA, an individual must meet the following academic qualification criteria-
1. An individual must have qualified their 10+2 examinations with at least 65% aggregate in Mathematics/Accounts & English.
2. At least 50% aggregate in other subjects.
3. If English is not one's first language, they must provide evidence for their proficiency by providing scores of English Language tests like IELTS or TOEFL.

Yes, the ACCA course can be completed in 2 years given one’s education qualifications. The ACCA certification however takes 3 years as one must complete their practical experience requirement and apply for membership to get ACCA qualified.

ACCA qualification can open doors to a wide number of careers in the field of accounting and finance such as financial controller, chief financial officer, consultants, business analyst, financial and treasury analyst and auditor.

Yes, one can start the ACCA course after completing their 12th with at least 65% aggregate in Mathematics/Accounts and English along with an aggregate of 50% in other subjects.

While one cannot register for ACCA unless they have completed their 12th, one can start preparing for the course and the papers before time. Once class 12th is complete, they can proceed to register and appear for the papers and get ACCA certified after meeting the requirements.

ACCA classes can be both online and offline depending on the course being provided by different organizations. The ACCA course by VGLD provides a unique experience of online classes which are both instruction based and self-paced. ACCA course by VGLD provides recorded lectures along with live online classes and special online doubt classes. You can check out more details on the ACCA course details page.

There is a lot of material in the form of videos, books and notes available online. However, ACCA is one such course which requires constant instruction and doubt clearance, hence choosing a specialized course can be extremely helpful while preparing for this examination. ACCA course by VGLD is one such option that provides easy access to course content, resources, live classes and recorded lectures which can be beneficial for an ACCA aspirant.

PER refers to Practical Experience Requirements which is a prerequisite and key component for getting the ACCA qualification. After completing the 13 papers, one must work under supervision for three years in order to get ACCA qualified. This helps in developing practical experience, professional knowledge and gives an insight into the world of finance and accounting.

The salary ranges from 4 lac to 14 lac depending upon the candidates skills and companies demand. Fresh Graduates earn around 4 lac(which is same for a CA) while the average salary is around 8 lac. There will be an increase in average salary in future as the demand for ACCA qualified candidates is on a steady rise.