Do you aspire to become a financial accountant? Do you aim for a bright career abroad as a management consultant? Or would you like to become a tax consultant abroad?
If your answer is yes to any of the above questions, ACCA Qualification is a definite choice for you and this article is a must read for you. Here’s everything you need to know if you are looking to become a Chartered Certified Accountant, accredited by the Association of Chartered Accountants (ACCA).
What is ACCA?
ACCA stands for Association of Chartered Certified Accountants. Based out of UK, ACCA is an international accountancy body with more than 70,000 members and 4,36000 students. It was formed in 1904 and carries with it a rich history. It is headquartered in London and has operations in 180 countries. It has a hundred offices and more than 7000 employees around the world.
What is ACCA Qualification?
Chartered Certified Accountant is one of the major professional qualifications given by the ACCA. It is considered as a desirable qualification for young professionals and students, given the numerous benefits associated with it. After the completion of the exams and relevant experience, you will become a member of ACCA.
Who can apply for the ACCA?
Here is the best part of opting for the ACCA. It does not ask for any specific academic requirements or graduate qualification for candidates applying from India. After completing the All India Senior School Certificate/ Senior Secondary School Examination/Pre University Education/Intermediate Public Examination, you can apply for the exam. Remember, the eligibility changes with your nationality.
How to become Chartered Certified Accountant?
You can register for the ACCA Qualification online on their website. The registration can be done at any time of the year. You should attach the supporting documents and a passport size photograph along with the application. The supporting documents include proof of your educational qualification and proof of identity. You will be intimated through mail regarding the status of the application. Once the application is approved, you can kick-start your exam preparation.
In order to become a Chartered Certified Accountant, you need to complete:
Ø A total of 14 exams in different modules
Ø Practical work experience of 3 years
Ø And the ethics and professional skills module.
The Fundamental Level will include nine papers in Knowledge Module and Skill Module. The papers include Accountant in Business, Management Accounting, Financial Accounting, Corporate and Business Law, Performance Management, Taxation, Financial Reporting, Audit and Assurance, and Financial Management. These papers are mandatory for all the aspirants.
The Professional Module includes five papers. Out of which, papers viz. Government, Risk and Ethics, Corporate Reporting, Business Analysis are compulsory. The remaining two can be chosen from the four options. They are Advanced Financial Management, Advance Performance Management, Advanced Taxation, Advanced Audit and Assurance.
Exams are conducted twice a year- in the month of July and September.
How much does it cost?
There is a one-time registration fees that is required to be paid during the registration time. It will cost you around INR 6700. Also, you need to pay the annual subscription fees which will be around INR 7200.
The examination fee depends on the modules you choose. Each of the exams in the knowledge module will cost you around INR 6100. The skill module costs you around INR 7900 per exam. For the professional module, you need to pay INR 9300 for each of the exam. The costs may change according to the tax.
Why choose ACCA Qualification?
As mentioned earlier, ACCA is a dynamic accountancy body with global presence. A bright career awaits you, once you complete the ACCA qualification. You’ll be recognised as an ACCA member all around the world. You can work in India as well as abroad in the business and finance sector, which makes it a favourite choice for young professionals.
The course materials teach you international accounting and auditing standards. You can look for a job anywhere in the world where these accounting standards are accepted. Moreover, you will be recognised and respected as an ACCA member and enjoy high professional status.
Scope of ACCA
There is a huge demand for ACCA qualified professionals in the global market. More than 8500 employers recognise ACCA qualification around the world. So you can be ensured of brighter career prospects once you become a member of ACCA.
You can work on different job roles like Financial Consultant, Chartered Accountant, Tax Consultant, etc. If you prefer to practise independently, you can set up your own firm as well.
Undoubtedly, qualifying the ACCA would open doors to a great career in financial accounting. It is one of the sought-after financial management courses and worth an effort if you dedicate your time and get through it.
You can prepare for the qualifying examination with our preparatory skills courses in association with London School of Business and Finance. Check out our ACCA Preparatory courses and gear up to put your career in Finance on the fast track.