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All About Acca Course In India

All About Acca Course In India

 

What Is Acca Course?

ACCA acronym for the Association of Chartered Certified Accountants, a professional accounting organization in the United Kingdom; ACCA offers the Chartered Certified Accountant (ACCA) credential.

In addition, it serves as the governing organization for all CCAs. Financial Accounting and Management Accounting are just 2 topics covered in the ACCA curriculum. Members of the ACCA number 233,000 and students number 536,000.

ACCA students can expect to earn:

  • An accounting and business diploma after completing the first-level course of study
  • Accredited Advanced Diploma in Accounting and Business after completing the second-degree level

In addition to the ACCA certification, students can pursue one of the following degrees:

  • Oxford Brookes University's Applied Accounting BSc (Hons) degree
  • The University of London's MSc in Professional Accountancy.

 

Eligibility criteria for ACCA Courses:

To appear for the ACCA exam, a candidate must have the following requirements:

  • Passed the 10+2 examinations
  • Best A total of 65 percent in Math/Accounting and English, and a minimum of 50 percent in all other classes.
  • 24×7 Relevant job experience of three years or more.

Current Qualification

No. Of Exams to be given

Exemptions

12th pass

13*

None

Commerce Graduate

9

BT, MA, FA, LW

CA IPCC (Both Groups)

8#

BT, MA, FA, TX,AA

CA

4#

BT-FM (9 subjects)

Please Note: These are only tentative details, and to learn more about your eligibility and exemptions:

Please visit https://www.accaglobal.com/gb/en/help/exemptions-calculator.html.

 

Exam Details: ACCA Exam Pattern:

ACCA Foundation Level Exams Pattern:

Time Duration:  2 Hrs
Total Questions:        50
Total marks:   100 marks
Pass %:  50%

 

ACCA Applied Knowledge Exams Pattern:

Section A: objective test questions (OTs)

Section B: multi-task questions (MTQs)

Time Duration: 2 Hrs
Total Marks: 100 marks
Pass %: 50%

Please note: BT, MA, and FA examinations all follow the same structure and material as the Foundation-level Diploma exams in business and technology, management accounting, and financial accounting (FBT, FMA, and FFA, respectively).

 

ACCA Applied Skills Exams Pattern:

Using spreadsheets and processing tools, a range of OT questions, multi-task questions, and constructed-response questions.

Time Duration: 3 hrs
Pass %: 50%
Total marks: 100

During the three-hour exam, students will be tested on all aspects of the course and their ability to apply this knowledge.

 

ACCA Strategic Professional Level Exams Pattern:

Practical Situation /Case Study Based Questions will be there in several forms.

Time Duration: 4 hrs for SBL / 3 hrs for other exams.
Pass %: 50%
Total marks: 100

The four-and-a-half-hour exam will cover the whole course and evaluate students' ability to apply their knowledge in various contexts.

Duration of the ACCA Program:

  • The ACCA program requires two years of study and three years of work experience to accomplish.
  • However, the ACCA course can be completed in two years if the individual has previous job experience.

Course Fees for ACCA:

Click here for the most up-to-date fees for registration, exemption, and examination.

 

The ACCA examinations are held at what time?

ACCA offers a variety of educational options. ACCA offers Computer-based tests in two variants.

  • On-demand CBEs: The exams like BT, MA, FA, and LW are taken at any time of year.
  • Session CBEs: The exams like PM-FM are held in 4 exam sessions: March, June, September, and December.
  • Strategic professional CBE exams: The exams [Essentials and 2 options] are taken in 4 exam sessions: March, June, September, and December.

 

What Is The Acca Scope In India?

  1. There are more than 80 international accountancy body partnerships, and it is globally recognized in over 78 markets.
  2. Given that your expertise is assessed for up to 13 difficult examinations, it communicates credibility, and it is an excellent approach to offer yourself an edge on the job market.
  3. A well-designed curriculum that is regularly updated to acquire information, skills, and professional values relevant to the business.
  4. Because the ACCA prepares you to execute strategic tasks at top management levels, it is a long-term career.
  5. The total cost, which ranges between 2 and 4.5 lacs, is less expensive than the alternatives.

 

Who should pursue the ACCA Course?

  • Graduates of the Commerce stream who have passed all five of their 12th-grade classes with a minimum of 65 % in at least two topics and 50 percent in the rest of their classes are eligible.
  • B. Com, BBA, BMS, etc., students who are enrolled in a commerce degree program.
  • Graduates of a recognized university (no marks limitations) who have completed a foundation in Accountancy are eligible.
  • Incoming CPT and IPCC students.
  • Chartered accountants should take the ACCA exam to get more credibility and a worldwide perspective.

 

Association of Chartered Certified Accountants: ACCA Course Structure:

To become a member of the ACCA, an applicant must complete the following:

  • An ACCA applicant must take and pass 13 tests (the organization provides up to nine exemptions based on the individual's previous qualifications).
  • Record 36 months of relevant work experience. The experience might be gained before, during, or after the candidate completes the qualification.
  • Make sure you finish the module on ethics and professional skills.

ACCAs 13 courses and tests are broken down into three levels: 

  • Applied Knowledge 
  • Applied Skills
  • Strategic Professional

Knowledge Level

Skill Level                    

Professional Level

Ethics & Professional Skills

Professional Experience

Applied Knowledge Level:

  • Business and Technology (BT)
  • Management Accounting (MA)
  • Financial Accounting (FA)

 

Applied Skills Level:

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

 

Strategic professional Level:

Essentials:

  • Strategic Business Leader
  • Strategic Business Reporting

Options: (Any 2)

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

 

The module on Ethics and Professional Skillsets

 

To meet the needs of today's scenario, students must pass a 20-hour module on ethics and professional skills.

 

Requirement for Practical Knowledge

 

At least 36 months of work experience is necessary to become an ACCA member, as are nine performance goals.

Students to be offered the ACCA Diploma in Accounting and Business (RQF Level 4) if they have passed the examinations in Business and Technology, Management Accounting (MA), and Financial Accounting (FA), plus the Foundations of Professionalism.

If a student passes or is excused from the Applied Skills tests, they are awarded an Advanced Diploma in Accounting and Business.

A minimum of two of these papers must have been attempted and passed.

Students who pass all of the Strategic Professional tests of the ACCA Qualification are awarded a Strategic Professional Certificate.

In addition, the two Strategic Professional Essentials examinations and any two of the Strategic Professional Options exams are included in this package.

Students are prepared to impress recruiters and succeed in the job if they are exposed to a wide range of advanced ethical and professional abilities and allowed to operate in a real-world commercial environment.

A practical experience supervisor must sign off on the candidate's time in a relevant position and performance goals.

Job Opportunities And Acca Salary In India :

Over the last few years, the scope of the ACCA certification in India has expanded significantly. As a result, candidates are employed by some of the most influential organizations globally, including PwC, Deloitte, KPMG, EY, Grant Thornton, BDO, and others.

They are employed in a variety of roles, including:

  • Accounting Advisory 
  • Risk Advisory
  • Statutory Audit
  • Internal Audit
  • Forensic Auditing
  • Mergers And Acquisitions
  • Valuations and Other related areas of expertise. 

The Salary Of Acca (between 5 and 8 lacs) is the same as that of a CA, as is their profile.

Companies Hiring ACCA In India:

Big 4 and MNC companies employ the majority of ACCA-qualified professionals in India. Now that the ACCA certification is well known in India, employers are keen to hire it.

Price Waterhouse Coopers, Ernst and Young, Deloitte, KPMG, TATA Communications, Embassy Group, Grant Thornton, etc., are the primary employers of ACCA in India.

It's becoming more common for CA and ACCA members to be employed in the same positions, with equal pay and benefits.

  • With the introduction of the Indian Accounting Standards (Ind-AS), India has taken another step toward globalization.
  • ACCA's syllabus includes extensive coverage of IFRS, giving ACCA members in India a distinct advantage.
  • India has become a significant outsourcing hub for accounting and financial activities, and ACCA-qualified personnel is desired by the firms who hire them.

Overseas Scope Of Acca:

There are 219,000 ACCA (Association of Chartered Certified Accountants) members and 527,000 ACCA students in 179 countries worldwide.
In addition, an international network of more than 7400 Approved Employers provides high-quality training and development for ACCA members.
  • A wide variety of nations provide ACCA professionals with a leg up when it comes to immigration.
  • In addition, technical expertise, professional ethics, and values from ACCA members propel the organization forward.

Qualified ACCA applicants have access to an official job site through ACCA (see https://jobs.accaglobal.com/ for details).

 

Here are the steps we take to get you ready for the ACCA Job:

Which Is Better CA Or ACCA In India?

CA and ACCA are well-known options on the market. Here are some key differences between the two.

  • ACCA is a globally recognized degree that is approved in more than 180 countries.
  • CA is only recognized in India because the course is tailored explicitly to Indian students' needs. 
  • ACCA course has been around for over a century and is recognized worldwide.
  • CA is exclusively valid in India and began in 1944.

To know more: Click here

Conclusion:

Fields like:

  • Accounting
  • Tax Consulting
  • Auditing, Business Valuation
  • Treasury Management

and other related fields benefit greatly from the ACCA credential, which is widely recognized across the world.

Q : Is the CA and ACCA the same thing? ?
A : The CA certification is only valid in India because the course was created specifically for Indian students. The system is sanctioned by the Institute of Chartered Accountants, which is an authorized body. The ACCA is a course that has been around for more than 100 years and is recognized in almost every country. However, CA is only applicable in India, and it was first implemented in the year 1944.
Q : What is the average acca salary in India after completing the ACCA course? ?
A : In India, the pay after completing the ACCA course ranges from Rs. 6 lakhs to Rs. 16 lakhs.
Q : Is the Acca qualification useful if I want to work or study abroad? ?
A : Because of their qualifications, applicants are excluded from taking certain papers and levels in the examination process.
Q : Is it possible for me to take an ACCA course examination at the same time as my graduation? ?
A : Yes, you can follow the ACCA course in parallel with your graduation, but only if you completed the ACCA Foundation course.
Q : Following completion of the ACCA course, what other qualifications will I receive? ?
A : Upon successful completion of the Knowledge level, you will get a Diploma in Accounting and Business. Upon completing the Skills level, you will receive an Advanced Diploma in Accounting and Business Certificate.
Q : How many ACCA course papers can we take in a single sitting? ?
A : Applicants are allowed to take a maximum of four tests in a single try and a maximum of eight exams in a calendar year.
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