Ready to Apply for ACCA? Here are the Details Candidate Must Know
What the candidate must know
ACCA is a qualification which is recognized all over the world as an equivalent to their local qualification. It stands for the Association of Chartered Certified Accountants. It is considered one of the leading international bodies in the world.
Many consider it as an alternative to MBA. The qualification in ACCA proves that you can ably run the business and all its aspects. It is also one of the growing qualifications in the world.
As a student, there are often doubts about whether to pursue this course or not? Or what are its benefits? How will this course help me? So, here are some of the answers to your doubts.
Things That You Should Know About the Qualification
1. The ACCA is considered as a highly recognized and professional body. It is respected all around the world.
2. Its qualifications are internationally accepted.
3. This qualification is recognized by all the members of the European Union and the United Nations.
4. To get qualified in this exam, you need to pass a maximum of 13 exams.
5. All these exams are conducted in English. You also need to have relevant work experience which can be gained by working in any business sector.
6. This qualification covers all areas of businesses like financial statements, business law, taxation, management accounting, and business ethics.
7. In each session, you can take up to 4 exams. For this, you need a maximum of 10 years to complete the course.
8. Students clear this in 2 to 3 years.
9. There are requirements by many local firms or multinationals that their employers should have this qualification.
Benefits of the ACCA Qualification
1. This qualification ensures the employer that you have the skills required to progress to the senior management level.
2. It helps you become a chartered accountant and work in aspects of management or finance of the business.
3. This qualification establishes higher status in the eyes of clients as well as the employers.
4. It helps in looking for better job prospects as it covers all the aspects of the business.
5. It is the fastest growing professional accountancy body in the world.
6. This course will help you gain knowledge not only theoretically but also prepares you well for the practical usages.
7. This course is a testament that the person is equipped with skills and knowledge and is high in demand for the various sectors like banking, auditing, consulting, as well as professional courses like law and taxation.
8. The learning in this qualification is not only finance and accounting specific. Candidates also get valuable skills in strategy and organizational management.
9. The exams for this qualification occurs 4 times a year so candidates can work while studying.
Further, this course is considered better than MBA as it is more internationally accepted. The course and standard of the quality in the MBA program is determined by the universities itself. Thus it varies from one university to the other. This is not the case with the ACCA qualification.
ACCA Syllabus and Other Details
There are 13 examinations in this qualification. Although you have a relevant background you can get an exempt up to 9 fundamental levels. The order of the examination will be applied knowledge, then applied skills and then finally strategic professional. The exam occurs 4 times a year in March, June, September, and December. For each of this sitting, you can give a maximum of 4 exams. The number of examination can be less than 4 also. But the maximum period within which the exams needs to be completed is 10 years. The exams are held all around the world.
You need to register as a student before giving the exams. You can register this by logging in the ACCA's official website. There are also some compulsory costs that you need to pay to ACCA. These costs include a one-time registration fee, then an annual subscription if you are a student and also the exam fees whenever you take the exams. There are different costs for different exams. However, these costs do not include the cost of studying to be done for the exam. You can choose your mode of study based on your convenience.