The ACCA course is considered to be highly rewarding for those pursuing a career in the field of finance and accounting. The top reason why it is highly
in-demand is because it guarantees job opportunities in high-paying roles and placements in renowned companies. Let us look at the insights and
learn more about the nuances of the ACCA course and why a student must enroll in an ACCA course to level up their career in Finance and Accounting.
Students who desire to pursue a career in ACCA must meet certain criteria to be eligible for the course. The eligibility criteria requires them to have a 10+2 level of education qualification with an aggregate score of 65% in Mathematics or Accounts and English.
Additionally, they must score a minimum of 50% marks in the other subjects. There may be students who have not yet passed their 10+2 level of education
or who do not fulfill the aforementioned eligibility criteria. Such aspirants can register for the ACCA course through the Foundation in Accountancy or
FIA route.
Commerce graduates, CA-qualified individuals, and Post-graduate (M.Com) Inter CA students are eligible for exemptions from the ACCA course. As mentioned earlier, some individuals in this field may not have completed their 10+2 level of education. However, they can still qualify to register for the ACCA examination through the Foundation in Accountancy or FIA route.
Students who have completed their 12th-grade education must appear for 13 papers without any exemptions. These students must pass five subjects, including Mathematics or Accounts and English, with a minimum of 65% in at least two subjects and above 50% in the other subjects.
Commerce and MCom post-graduates have to appear for nine papers with exemptions in BT, FA, LW, and MA. CA IPCC candidates, including both groups, must appear for eight papers with exemptions in
1. BT
2. TX
3. AA
4. MA
5. FA
Please Note: A Chartered Accountant has to appear for four papers with exemptions in 9 subjects ranging from BT to FM. However, a CA final candidate is eligible for additional exemptions if they score 40 marks and above in their exam for the relevant subjects.
The ACCA syllabus covers a wide range of topics from various fields and areas of accounting and finance, making it a holistic course. It covers topics such as Financial Reporting, Auditing, Business Finances, Taxation, and Financial Management, which are also part of Chartered Accountancy. The ACCA syllabus comprises 13 examinations, which are divided into three levels - Knowledge, Skill, and Professional.
The Knowledge level examinations are on-demand exams, and students can take them at any time of the year. However, the Skill and Professional level exams take place four times a year, in March, June, September, and December. Prior to 2021, the Professional level exams were paper-based, but now, all three levels of the ACCA syllabus are CBE, meaning that they are computer-based examinations.
Here's the information presented in a table for syllabus for ACCA course:
| Level | Examinations |
|---|---|
| Knowledge | On-demand exams: |
| - Accountant in Business (AB) | |
| - Management Accounting (MA) | |
| - Financial Accounting (FA) | |
| Skill | Exams held in March, June, September, and December: |
| - Corporate and Business Law (LW) | |
| - Performance Management (PM) | |
| - Taxation (TX) | |
| - Financial Reporting (FR) | |
| - Audit and Assurance (AA) | |
| - Financial Management (FM) | |
| Professional | Exams held in March, June, September, and December: |
| Essential papers: | |
| - Strategic Business Reporting (SBR) | |
| - Strategic Business Leader (SBL) | |
| Optional papers (students choose two out of four): | |
| - Advanced Financial Management (AFM) | |
| - Advanced Performance Management (APM) | |
| - Advanced Taxation (ATX) | |
| - Advanced Audit and Assurance (AAA) |
The ACCA course comprises nine papers that are divided based on the level of the examination. At the Knowledge level, there are three papers: Accountant in Business (AB), Management Accounting (MA), and Financial Accounting (FA). At the Skill level, there are six papers: Corporate and Business Law (LW), Performance Management (PM), Taxation (TX), Financial Reporting (FR), Audit and Assurance (AA), and Financial Management (FM).
The Professional level has two parts of papers for examination: the essential part includes Strategic Business Reporting (SBR) and Strategic Business Leader (SBL), whereas the optional part includes Advanced Financial Management (AFM), Advanced Performance Management (APM), Advanced Taxation (ATX), and Advanced Audit and Assurance (AAA). In the optional part, students have to choose two papers out of the four for their examination.
Here's the information presented in a table format for better Understanding Papers in ACCA course:
| Level | Papers |
|---|---|
| Knowledge | Accountant in Business (AB) |
| Management Accounting (MA) | |
| Financial Accounting (FA) | |
| Skill | Corporate and Business Law (LW) |
| Performance Management (PM) | |
| Taxation (TX) | |
| Financial Reporting (FR) | |
| Audit and Assurance (AA) | |
| Financial Management (FM) | |
| Professional | Essential: Strategic Business Reporting (SBR) |
| Strategic Business Leader (SBL) | |
| Advanced Performance Management (APM) | |
| Advanced Taxation (ATX) | |
| Advanced Audit and Assurance (AAA) |
In recent years, the scope and purpose of ACCA in India have substantially increased. Students who successfully complete the ACCA course are assured of employment in some of the best companies, such as PwC, Deloitte, Grant Thornton, KPMG, EY, and BDO. Therefore, students pursuing a career in this field through the ACCA course can be guaranteed high-paying jobs at some of the most popular companies in India. Choosing the best ACCA course in Mumbai ensures that students acquire the best skills and knowledge necessary for securing high positions in popular companies.
Various prestigious positions are available to students who complete their ACCA course and establish their careers in this field, such as Risk Advisory, Statutory Audit, Accounting Advisory, Internal Audit, Mergers and Acquisitions, Valuations, Forensic Auditing, and more.
The ACCA course offers benefits for securing high-paying jobs in India and over 180 countries worldwide. For students availing of the ACCA course in India, the countries where ACCAs are highly demanded include the UK, Singapore, Canada, Australia, and Dubai, where they even have signing authority.
The
UK board offers the ACCA course, which stands for Association of Chartered Certified Accountants. The headquarters of ACCA is currently located in London, with an administrative office in Glasgow. The board operates a vast network of more than 110 offices across approximately 51 countries, with 346 learning partners worldwide.
To register for the course, an initial one-time payment of ₹7,375 is required, along with an annual subscription fee of ₹10,362. The fee structure also includes a payment of ₹9,500 for the Knowledge Exam, covering four papers. For the Skill Exams and Professional Exams, the fees are ₹10,362 and ₹12,700, respectively. The Skill Exams fee covers five papers, while the Professional Exams fee covers four papers. Overall, the cost of an ACCA course in India can average around ₹1,80,000.
Here's the information presented in a table format - ACCA Course FEES :
| Fee Description | Amount (in INR) |
|---|---|
| Initial registration fee | 7,375 |
| Annual subscription fee | 10,362 |
| Knowledge Exam fee | 9,500 |
| Skill Exams fee | 10,362 |
| Professional Exams fee | 12,700 |
| Total approximate course fee | 1,80,000 |
The ACCA salary in India is dependent on various factors, which are as follows:
The salary of an ACCA member can vary depending on the number of years they have been practicing or working as an ACCA member and their present designation or position in the company. On average, a regular CA in India can earn an approximate annual salary of ₹8.07 lacs.
Read: ACCA Articleship Duration, Salary and Jobs in IndiaThe level of experience gained by an ACCA member substantially determines their salary. The more experience aspirant has in the industry, the higher their salary will be. More years of experience would indicate that they have a practical and more profound knowledge of the different aspects of finance and accounting, and their value of service will be valued by employers, globally.
Thus, the salary of ACCA members highly depends on the level of experience they have in the industry. For entry-level ACCA members, the approximate annual salary is ₹7.05 lacs. A mid-senior level ACCA member's approximate annual salary can be ₹11.17 lacs; for a senior level ACCA member, their approximate yearly salary can be ₹19 lacs.
Depending on the job role, the salary of ACCA members can vary substantially. An accountant can expect a salary range of ₹172k – ₹729k and an average salary of ₹348,171. A CA can expect a salary range of ₹364k – ₹2m and an average salary of ₹985,808. A finance manager executes a salary range of ₹197k – ₹2m and an average salary of ₹967,750. An auditor can expect a salary range of ₹300k – ₹2mn and an average salary of ₹6,25,710. An associate auditor can expect a salary range of ₹252k – ₹839k and an average salary of ₹398,739.
The salary of ACCA members in Dubai is influenced by various factors such as their experience and job role. However, the average annual salary of an ACCA member in Dubai can be as high as AED 91,000, which is equivalent to ₹20,48,097. Two primary aspects that affect the salary of an ACCA professional in Dubai are the industry in which they work and the quality, reliability and the years of experience.
In Dubai, an accountant can expect a salary range of AED 20k to AED 152k and an average salary of AED 59,547. A finance manager can expect a salary range of AED 20k to AED 410k and an average salary of AED 203,898. An auditor can expect a salary range of AED 10k to AED 163k and an average salary of AED 66,000.
A senior accountant can expect a salary range of AED 43k to AED 170k and an average salary of AED 100,446. An associate auditor can expect a salary range of AED 3k to AED 145k and an average salary of AED 60,000. Finally, a senior auditor can expect a salary range of AED 31k to AED 209k and an average salary of AED 116,350.
| Job Role | Salary Range (AED) | Average Salary (AED) |
|---|---|---|
| Accountant | 20,000 - 152,000 | 59,547 |
| Finance Manager | 20,000 - 410,000 | 203,898 |
| Auditor | 10,000 - 163,000 | 66,000 |
| Senior Accountant | 43,000 - 170,000 | 100,446 |
| Associate Auditor | 3,000 - 145,000 | 60,000 |
| Senior Auditor | 31,000 - 209,000 | 116,350 |
The following points highlight the differences between ACCA and CPA courses:
ACCA is an international degree that holds worldwide validity, while CPA is a certification for management accountants that serves as a regulator for businesses. ACCA is based on the advanced model of finance, while CPA has a varied approach.
For ACCA, a work experience of one or two years is required, whereas CPA mandates three years of work experience.
ACCA has been around for a century, whereas CPA was established in 1974 and has served over 75,000 organizations so far.
The primary work area for ACCA is inspection, accounting services, and related fields. In contrast, CPA certification grants a license to provide accounting services to the public.
Here's the information presented in a table format - Difference Between ACCA vs CPA:
| Feature | ACCA | CPA |
|---|---|---|
| International Validity | Yes | Primarily U.S.-based, but recognized globally |
| Focus | Advanced finance and accounting | Management accounting and regulation |
| Work Experience Requirement | 1-2 years | 3 years |
| Establishment | Established in early 1900s | Established in 1974 |
| Scope of Work | Inspection, accounting services, and related fields | Public accounting services and regulation |
| Geographic Reach | Global | Primarily U.S., expanding internationally |
These are the crucial details about the ACCA course that aspiring students need to know to pursue high-paying jobs in the finance and accounting sector. Choosing the right institution and field of study is crucial to ensure success. Use this information to pave your way towards success in the field of finance and accounting.
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