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The Association of Chartered Certified Accountants (ACCA) is a global professional accountancy body that offers the “Chartered Certified Accountant” certificate. It was founded in 1904 and is rapidly expanding worldwide with over 200,000 members and 500,000 students in 180 countries.
You will need to have 3 years of relevant work experience along with your graduate or undergraduate degree. Along with that, you need to clear a minimum of 13 exams and pass your Ethics and Professional modules as well. There are 15 topics out of which you have to complete at least 13 if you have no exemptions for your previous relevant education.
The ACCA Syllabus
The ACCA syllabus covers various aspects of Chartered Accountancy such as –
- Financial Reporting
- Auditing, Taxation
- Business Finance
- Financial Management
The ACCA has a total of 13 examinations that a candidate must appear for. These are split into 3 levels:
The knowledge level tests are on-demand exams that you can appear for at any time during the year. However, you can appear for the skill and professional level tests in March, June, September, and December of each year. All three levels of the ACCA exams are now computer-based (CBE).
- Management Accounting (MA)
- Accountant in Business (AB)
- Financial Accounting (FA)
- Corporate and Business Law (LW)
- Taxation (TX)
- Performance Management (PM)
- Audit and Assurance (AA)
- Financial Reporting (FR)
- Financial Management (FM)
- Strategic Business Reporting (SBR)
- Strategic Business Leader (SBL)
Optional Advance Courses
- Financial Management (AFM)
- Taxation (ATX)
- Performance Management (APM)
- Audit and Assurance (AAA)
ACCA course fees: Registration and subscription
To attempt the ACCA exams, you must be a registered ACCA student. The one-time registration fee is £89 after which you will have to pay a £116 yearly subscription fee. You must pay both the £89 and £116 fees in your first year. Every year after that, you only need to pay the £116 annual subscription fee, which is usually due on January 1st.
The subscription fee is mandatory to pay even if you are not taking any examinations that year. If you don’t, you risk being removed from the student registrations. Reregistering to continue your studies, which will cost you £89.
Fees for ACCA Exemption
Any exemptions require you to pay additional ACCA test costs. These costs depend on the level of the exam. For instance, the fee for the applied knowledge test is £98 and the fees for the applied skills exams are £123.
Exam Fees for the ACCA
Exams for Applied Skills Fees
Standard entry Fees: £136
Late admission: £348
ACCA Strategic Professional Fees
You should ideally undertake your Ethics and Professional Skills module before or concurrently with your first Strategic Professional topic. The module will improve your chances of passing at this level by supplementing your technical knowledge with the ethical and higher-level professional abilities you’ll require. Make sure that you complete this module prior to Strategic Business Leader (SBL). If you postpone the EPSM until later, you may be at a disadvantage.
We recommend that you do your Ethics and Professional Skills module before moving on to Strategic Professional. This will cost you £82.4
Strategic Professional Examinations
The Strategic Professional examinations have two sections: Essentials and Options.
Strategic Business Leader Exam Fees
Standard entry: £233
Late entry: £375
Exam Fees for Strategic Business Reporting
Standard entry: £181
Fees for Strategic Professional Options Exams
Standard entry: £181
Late entry: £375
Fees for the ACCA Exam: Affiliates
Students who have passed their ACCA examinations and the ethics module but have not fulfilled the professional experience requirement are classified as ACCA Affiliates. Once you have earned affiliate status, you must pay a £135 yearly subscription charge.
This status is valid for three years. The annual subscription charge for extending your ACCA affiliate status after three years rises to £270.
Exam Fees for the ACCA: Membership
You can apply for full ACCA membership once you have completed your ACCA examinations, ethics module, and professional experience requirement. This implies you must pay a one-time entry charge of £270 to become a member. Then you pay a £270 yearly subscription charge. There is also a £270 Lifetime subscription (membership) commutation fee.
- ACCA is recognized in more than 78 countries and has more than 80 international accounting body partnerships.
- It communicates credibility and is a terrific method to offer an edge to your CV since the examination tests every aspect of your skillset.
- The curriculum is revised regularly to ensure that students are learning business-relevant information, skills, and professional values.
- ACCA career program prepares you to work in senior management positions in strategic roles.
Liked this blog? Read Chartered accountant | 7 Easy steps on how to become one!
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Q1. How long will it take to clear the ACCA exams?
Answer – The ACCA course normally takes two years to finish, however depending on your prior education, you may be exempted from certain of the tests, which will drastically reduce your ACCA course duration. You are also required to have 3 years of practical experience so you need not hurry, but another advantage is you can work while pursuing an ACCA course.
Q2. How Many exams can an aspirant attempt at each exam session?
Answer – Students are allowed to take a maximum of 4 exams during each exam cycle across a maximum of 8 distinct exams over a calendar year. These can be any combination of computer-based and paper-based exams.
Q3. If someone has cleared the 10+2 exams, are they eligible for ACCA?
Answer – The students who have scored 65% in English & Maths and 50% in the remaining subjects in 10+2 are eligible for ACCA qualification. Other students are eligible to join ACCA through Foundation in Accountancy Route, which is an entry-level qualification for ACCA. 12th pass students who have scored below 65% need to give only 3 exams in Foundation level FBT, FMA, and FFA.