Take a look at our in-depth details on the program, criteria, exam format, fees, and strategies for ACCA qualification. This comprehensive guide will help you get a grip and a clear understanding of the course. I hope this helps you make an informed decision. The following is the structure of the article:
Table of contents
ACCA Exam Tips
Why ACCAis one for Accountants?
About ACCAQualification
ACCA QualificationCompletion Criteria
Why Pursue ACCA?
ACCA Exam Format and Syllabus
ACCA Part I exam (Fundamental level)
ACCA Part II exam (Professional level)
ACCA QualificationFees
The pass percentage for ACCA Exams
ACCA Exam Strategies
Recommended Articles
Why ACCAis one for Accountants?
ACCA as a qualification is growing rapidly across the globe, with opportunities for students and members in more than 170 countries.
This certification assures the employers that you are eligible in all aspects of a business.
It gives you better job prospects and growth in higher senior management.
It is the largest and fastest-growing global accountancy body with more than 320,000 members and students from different parts of the world.
Most importantly, it gives you personal satisfaction while acquiring business skills.
Did you know that these criteria of the ACCA certification give you strong reasons to acquire it even if you have to invest a good amount of money and time? But, does it also involve alot of sacrifices?
About ACCAQualification
The Association of Chartered Certified Accountants is a competent and leading global accounting body. This qualification gives you recognition as an employee who can help in all aspects of a business. A Chartered Certified Accountant is protected legally as anyone who claims to be a chartered certified accountant has to be a member of ACCA.
Roles: Banker, Consultant, Auditor, Taxation, and Law professionals.
Exam Structure: ACCA consists of 14 written English examinations and relevant business experience. Each part has four exams that normally take about 2 to 3 years to clear; however, the maximum time to clear ACCA is ten years.
Exam dates: These exams are held twice a year, in June and December.
Eligibility: While registering in different countries, the eligibility criteria also changes. The candidate needs to have relevant experience to have this certification.
ACCA QualificationCompletion Criteria
The ACCA qualification is divided into two parts.
The first part is Fundamentals subdivided into a ‘knowledge module’ and a ‘skill module.’ The knowledge module has three papers, whereas the skills module has six.
The second part is the Professionals, divided into the ‘essentials module’ and the ‘options module.’ The essentials module has three papers, and the options have four out of which the candidate has to choose any two.
The candidate has to clear all 14 papers. They can choose as many papers as they want to clear in one part; a maximum of 4 papers can appear in one part.
Normally, aspirants can cover the course in 2 to 3 years; however, the association gives the candidates ten years to complete the certification.
To enroll for this certification, you must have a minimum work experience of three years in relevant fields. ACCA believes in relating the bookish knowledge to practical knowledge and applying it accordingly.
Why Pursue ACCA?
ACCA gives you better employment prospects and displays your ability in all aspects of the business.
It gives you the designation of a chartered certified accountant, a legal term that only ACCA members can obtain.
ACCA opens your doors to a senior management position as it assures the employers of your efficiency and performance.
It is evident that you have the skills and abilities employers look for in the banking, auditing, consulting, law, and taxation professions.
Besides gaining professional knowledge in finance and accounting, the candidate also acquires an organization’s valuable management and strategic skills.
Along with the theory, this certification also believes in employing them in practical life.
International accounting and auditing standards are the basis of this certification.
ACCA Exam Format and Syllabus
ACCA Exam
ACCA Part I Exam (fundamental level)
ACCA Part II exam (professional level)
Focus on
Accountant in Business, Management Accounting, Financial Accounting, Corporate, and Business Law, Performance Management, Taxation, Financial Reporting, Auditing and Assurance, Financial Management.
Governance Risk and Ethics, Corporate Reporting, Business Analysis, Advanced Financial Management, Advanced Performance Management, Advanced Taxation, Advance Audit, and Assurance
Exam Format
Written exam
Written exam
Pass percentage
50% marks in all subjects
50% marks in all subjects
Duration
Varies for each paper
Varies for each paper
ACCA Part I exam (Fundamental level)
This part has nine papers to attend or appear; it includes commerce basics like accounting and management.
ACCA part 1 exam focuses on accounting in total, including business, management, and financial. The focus includes corporate and business laws, performance management, taxation, financial reporting, auditing assurance, and financial management.
Unlike other modern online examinations, this exam is a written exam as it tests the candidate’s ability.
To clear each part of the examination, the candidate needs 50% marks.
The duration of each examination differs.
ACCA Part II exam (Professional level)
To clear this level, you need to appear for five papers, out of which three papers are essential ones, whereas the last two levels are options that you can choose from.
ACCA part II focuses on ethics and governance risk, business analysis and corporate reporting, advanced financial management, performance management, auditing and assurance, and taxation.
Unlike other modern online examinations, this exam is a written exam as it tests the candidate’s ability.
To clear each part of the examination, the candidate needs 50% marks.
The duration of each examination differs.
ACCA QualificationFees
Besides the registration fee for ACCA, you need to pay a specific fee to appear for the exam. We can help you understand the examination fee structure better with the notes below.
Professional P1, P2, P3 and also any 2 from P4, P5, P6, P7
Early
£110
Standard
£116
Late
£277
The chart above is self-explanatory. However, as you can notice, you have to make sure that you enroll for your examinations on time to avoid the late fee charge, which is pretty high, close to £100 to £200.
Above all, the study material and at-home audios are free after enrolling for ACCA examinations.
The pass percentage for ACCA Exams
Because the next examination secession was due in June 2016, let us give you the pass percentage rate for June 2015 ACCA examination.
Remember, there is only pure and original hard work in any professional exam. If you want to get the right degree, you must work extremely hard with utmost dedication. Listed below are a few tips that can help you get there sooner.
Before studying for a professional course like ACCA, you need to plan. First of all, decide how many papers you would like to clear in a single sitting, how to study and manage your time.
You need to know what you are studying and how. Hence, it is extremely important to know the syllabus and structure of ACCA certification.
Understand the examiners’ approach. You need to know what the examiner is expecting in the answers.
Study only from the approved text or study material of ACCA. They have a defined and planned syllabus that they want you to study and understand.
Have a daily set target of studying. It will help you better understand and complete your portion on time.
Instead of memorizing, understand the concepts and logic behind what you are asked to study. This will help you explain yourself better while answering.
If you are stuck somewhere or are unable to understand something, you can refer to the audio and video tutorials and take help of the matter available.
Solve as many practice papers as possible to better understand your position. Don’t forget to solve the previous examination papers too.
Check examiner’s reports published on websites and look for their marking schemes and strategies; you will understand how much you need to focus on what part of the portion.
Analyze exam papers, examiners’ interviews, and technical parts of the material and revise accordingly. Revision is important as it will help you recollect everything you have studied.
While you put all your efforts into studying well, do not forget to control yourself. Don’t panic, and make sure you take enough rest before taking the examination.
Recommended Articles
This has been a guide to ACCA Exams. Here we discuss the ACCA exam, why you should pursue it, its fees, structure, passing strategies, tips, tricks, etc. You may also have a look at the following articles –
(You'll find plenty of videos on these on my channel. So after reading this, feel free to check those out!) So let's review the recommended order til now: we suggested starting with the Law paper first, and then moving on to Financial Reporting.
You should never rely on the last moment if you want to clear the ACCA Certification in India at the very first attempt. You will definitely perform well if you start preparing from the very beginning with the proper planning.
To Become ACCA you must pass exams in 13 ACCA papers in 3 levels, complete an ethics module, and gain 3 years of relevant work experience. All professional exams are difficult to crack, and so is ACCA. However, with the right guidance, you can clear ACCA.
Here's the good news: no, the ACCA exam is not very difficult. In fact, it is easier to clear the ACCA when compared to other professional finance and accountancy courses like the CA and CFA. It is, of course, tougher than the school and undergraduate tests with which most students are familiar.
When you're studying ACCA we recommend you plan to do a minimum of 8 hours per week. Study time varies in terms of how long it will take you to cover the syllabus, but you can expect to spend about 11 weeks on each paper.
Students are allowed to take a maximum of 4 exams during each exam cycle across a maximum of 8 distinct exams over the course of a calendar year. These can be any combination of computer-based and paper-based exams.
There is no restriction to the number of exams you may attempt, allowing you to choose to sit as many or as few papers as you like at each exam session. You are, however, recommended to attempt a maximum of four exams in a six-month period.
It generally takes 4 to 5 years to complete the examinations, together with the Ethics Module and relevant 3 years work experience. It may be possible to finish earlier depending on how many exemptions are granted from your education and if you have already accumulated enough work experience.
The ACCA Course duration ranges from one year to five years, based on the time you invest each day towards the qualification. To make a stable career for yourself, you must constantly incorporate recent trends in the field of accountancy within your learning process.
As such, from the below table, it can be inferred that F1 (Accountant in Business) is the easiest paper with highest pass rate of 85% in June 2019, while P7 (Advanced Audit and Assurance) is the toughest paper with lowest pass rate of 30% in March 2019.
Other professionals like CA, CS, etc. can also take up ACCA and complete in an even lesser time based on their qualification. E.g., A qualified Chartered Accountant will only require taking up 4 papers as 9 papers will be exempted, thus making it possible to complete the qualification in 6 months to 9 months.
If you passed your Advanced Financial Management (AFM) exam in December 2017 it will have an 'expiry date' of December 2024. If you don't complete all Strategic Professional exams by December 2020 your AFM exam pass would expire and need to be re-taken.
In conclusion, Accounting Degree gives an individual a variety of career choices in and outside the accounting field whereas, ACCA provides an individual with deep professional skills in Accounting.
So yes, it's a very good time to study ACCA. What employment opportunities does achieving the ACCA Qualification give you? In June 2020, ACCA Careers had nearly 150,000 job adverts from around the world from amazing companies such as EY, Amazon, PwC, Nestlé, Deloitte and State Street, all seeking ACCA candidates.
However, as you also need three years practical experience before you can become an ACCA member and be considered a qualified accountant, the qualification takes a minimum of three years to complete.
Karen Young, director at Hays Accountancy & Finance, says: 'The average salary for an ACCA trainee is currently around £19,300 per annum, while an ACCA part-qualified can expect to earn £25,800 per annum. ACCA finalists are commanding an average salary of £30,700 a year.
One of the biggest reasons of failure in ACCA examinations is lack of understanding of the concepts. Students spend too much time on memorizing the rote knowledge instead of understanding the underlying concepts. Knowledge can get you a few marks but knowledge alone cannot get you passing marks.
We run four exam sessions per year. Students can sit a maximum of four exams at each session, and a maximum of eight distinct exams each calendar year. You could therefore complete all of the exams in two years.
The ACCA Qualification is broadly equivalent to degree standard when you take the first nine papers (the Fundamentals level). When you take the Professionals level, it is equivalent to a masters degree.
Regardless, failing an unqualified exam doesn't ruin your future career. If you are unable to qualify on the first attempt you have more chances to qualify, it doesn't mean you have failed in the initial exam, and you couldn't secure your future, or you cannot make yourself outshine.
Working and studying for ACCA in parallel is considered to be reciprocally advantageous. Your job helps you learn better, and your learning improves your performance at work. As a pre-requisite, ACCAs have to complete practical experience of a minimum of 3 years to gain membership.
CFA Charter is much more difficult to attain as compared to ACCA Qualification, but it can be worth it. However, CFA is more suited for experienced finance professionals looking to specialize in a certain area.
You must be at least 18 years of age, and must complete 10+2 as a minimum required qualification with a minimum of 65% in Accounts or Mathematics and English ,and should have scored 50% in other subjects. No,Maths is not compulsory for pursuing ACCA as long as you had accountancy in your 12th.
The BSc (Hons) in Applied Accounting is available exclusively to ACCA students and offers a cost-effective way to obtain an undergraduate degree. That's because the ACCA Qualification Applied Knowledge and Applied skills exams are considered equal to bachelor degree level.
ACCA F9 Financial Management, the last paper in the foundation stage of ACCA. Though it is at the last paper of ACCA Skills module even then it is considered friendly among students and also it is evident from past years' pass rates.
Even if you're done for the first time, ACCA is still worth it because you still have a degree that promotes your professional development. If you are fully qualified, it is an ideal choice, and you are a Certified Accountant and ACCA member.
Commonly the CA course is considered to be harder than ACCA, considering the number of years, the number of papers, course levels and versatility of both courses. Finplan ACCA institute makes it easier to clear ACCA examination, over 1000+ ACCA students clear their examination with good marks.
ACCA December 2021 pass rates have been announced. APM is the paper with the lowest pass rate among the Options – just 32%, and AFM has the highest pass rate at 41%.
First, the CPA US course has fewer sections (4 exam sections vs 13 papers for the ACCA Qualification), but they are all hard. In fact, the US CPA pass rate hovers around 45-55%. Likewise, the ACCA estimates their mean pass rate is about 55%.
The Performance Management (F5 paper) in ACCA historically has some of the lowest pass rates globally (source: ACCA global website). This paper tests your technical grasp of management accounting concepts, their application and analysis based on their metrics.
ACCA trainees can work in any sector and size of organisation - you don't have to work for an ACCA Approved Employer. Your experience doesn't have to be gained in a single role or in one continuous period and you can gain your experience in different roles and with different employers.
With all the points covered above, if you complete the ACCA course, you have better and higher chances of getting a job abroad. This is because ACCA professionals work in over 180 countries and there are plenty of job opportunities available for ACCA professionals in India as well as abroad.
After your 10 year time limit is reached, you will lose any Strategic Professionals results that are seven years old, or older, and you will need to take these exams again. Check your myACCA account to find out when your Strategic Professional results will expire.
On average, it can take you two to three years to complete studying for all the 13 papers of the exam, but you could complete the qualification in 18 months if you focus on the major eight papers.
We run four exam sessions per year. Students can sit a maximum of four exams at each session, and a maximum of eight distinct exams each calendar year. You could therefore complete all of the exams in two years.
How many hours should I study for ACCA? When you're studying ACCA we recommend you plan to do a minimum of 8 hours per week. Study time varies in terms of how long it will take you to cover the syllabus, but you can expect to spend about 11 weeks on each paper.
Students are allowed to take a maximum of 4 exams during each exam cycle across a maximum of 8 distinct exams over the course of a calendar year. These can be any combination of computer-based and paper-based exams.
The ACCA Diploma in Accounting and Business (RQF Level 4) could be completed in 1 year, as could the Certified Accounting Technician qualification provided you achieve your required work experience whilst studying.
There is no restriction to the number of exams you may attempt, allowing you to choose to sit as many or as few papers as you like at each exam session. You are, however, recommended to attempt a maximum of four exams in a six-month period.
The ACCA Qualification is broadly equivalent to degree standard when you take the first nine papers (the Fundamentals level). When you take the Professionals level, it is equivalent to a masters degree.
Once you have completed your ACCA Qualification by passing your exams, along with three years' practical experience and the Ethics and Professional Skills module, you will be invited to become an ACCA member. You will be able to use the 'ACCA' letters after your name.
You must be at least 18 years of age, and must complete 10+2 as a minimum required qualification with a minimum of 65% in Accounts or Mathematics and English ,and should have scored 50% in other subjects. No,Maths is not compulsory for pursuing ACCA as long as you had accountancy in your 12th.
Other professionals like CA, CS, etc. can also take up ACCA and complete in an even lesser time based on their qualification. E.g., A qualified Chartered Accountant will only require taking up 4 papers as 9 papers will be exempted, thus making it possible to complete the qualification in 6 months to 9 months.
All questions in the exam are compulsory. The exam contains a mix of objective test and longer style questions with a duration of 3 hours and 15 minutes. The pass mark continues to be 50%.
For Sections A and B, look for the short and easy questions and answer them first. In whatever time you have left then spend more time on the longer and harder questions. Try not to spend too long on either section – you should be allowing yourself about 27 minutes for each of Sections A and B.
Introduction: My name is Tyson Zemlak, I am a excited, light, sparkling, super, open, fair, magnificent person who loves writing and wants to share my knowledge and understanding with you.
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