Did you know that ACCA provides exemptions from certain papers if you have cleared certain courses such as CA or hold a graduate or post graduate degree? Don’t worry all your doubts will be cleared now so just get yourself a comfortable place and go through this article which will take just a few minutes.
I will take into consideration the frequently asked questions that people have regarding ACCA
Q.1. I HAVE COMPLETED AN UNDER GRADUATE/POST GRADUATE/OTHER PROFESSIONAL QUALIFICATIONS – CAN I GET ANY EXEMPTIONS?
If you have completed your bachelors, masters or hold qualification from other bodies, then you will be entitled to exemptions. To check how many exemptions you can claim, click here and enter your institute name. Follow the steps thereafter to find out your exemptions. However, please note that until you are registered with ACCA as a student the exemptions will not be finalized or reflected on your account.
Q.2. IF I AM AN INDIAN CA, HOW MANY EXEMPTIONS DO I GET?
If you are an Indian CA since May 2003 or a passed finalist then you are exempted from 9 papers out of the 14 in the ACCA qualification. You are directly eligible to begin your ACCA qualification at the professional level and progress to your ACCA membership through just 5 papers.
If you are an IPCC cleared student, you are eligible to get 5 exemptions (F1, F2, F3, F6 & F8).
To apply for the ACCA course, you can click on this link and fill out the online application form
Q.3. WHY SHOULD INDIAN CA’S STUDY ACCA?
The ACCA qualification helps Indian CA’s in the following ways
International recognition – Indian CAs also pursuing the ACCA qualification broadens their career options. As an ACCA member, they are able to undertake more diverse roles, work in more diverse industries as well as work with multinational organizations that require expertise of finance professionals who are trained with international standards.
Flexibility – An Indian CA needs to give only 5 papers (professional level) of The ACCA Qualification in order to gain their ACCA membership. The CA articleship counts towards the ACCA Practical Experience Requirement (PER).
Exams – Exams are not held in groups. You will only appear for modules you haven’t cleared when appearing for ACCA exams.
Q.4. WHAT IS THE TIME FRAME TO COMPLETE ACCA?
The ACCA qualifications have 14 papers in total. You can take exams twice a year and up to 4 exams in each session. Keeping this in mind, you can finish your exams in a minimum of 2.5 years. You may also get some exemptions depending on your previous qualifications which mean you can also complete the qualification sooner.
However, in order to attain the ACCA membership, you should also complete the Ethics modules and have 3 years or 36 months practical work experience which you can gain before, alongside or after your studies.
Q.5. DO I HAVE TO GIVE EXAMS IN INDIA OR UK?
Exams can be taken in India. We also have developed Computer Based Exam centers at various locations in India. If during the course of the study, you have an opportunity to relocate for work or other commitments, you can let your national office know who can help you find a suitable learning partner and exam center in the new city.
Q.6. WHAT ARE COMPUTER BASED EXAMS? WHY SHOULD I GIVE THEM?
Computer-based exams (CBEs) are available for the first seven Foundation-level exams. These are the exams required for the Introductory Certificate in Financial and Management Accounting (FA1, MA1); the Intermediate Certificate in Financial and Management Accounting (FA2, MA2); and the Diploma in Accounting and Business (FAB, FMA and FFA).
These exams are also required for the Certified Accounting Technician qualification. CBEs are also available for the ACCA Knowledge module exams (F1, F2 and F3) of the ACCA Qualification.
Q.7. WHAT SUBJECT VARIANTS ARE AVAILABLE FOR INDIAN STUDENTS?
We have subject variants available for Tax and Law. You can read more here
Q.8. WHAT DO I HAVE TO DO ON TOP OF THE ACCA QUALIFICATION TO ACHIEVE THE BSc DEGREE FROM OXFORD BROOKES?
If you didn’t study an undergraduate degree course at university, then you can still have the chance to gain a degree while studying to become a qualified accountant with ACCA.
We have a partnership with Oxford Brookes University. This means you can gain a BSc (Hons) degree in Applied Accounting while you work towards achieving your ACCA Qualification. And you won’t have to double your workload. It is the perfect way to enhance your ACCA Qualification and broaden your skills set.
To attain your BSc degree, you must:
• Be registered with Oxford Brookes University i.e. opted-in to the BSc degree scheme before passing any of the three ACCA Fundamentals papers, F7, F8 and F9. You are not eligible for the degree if you have claimed exemptions from any of these papers.
• Pass the three ACCA Fundamentals papers F7, F8 and F9 and pass the other papers as required to successfully complete all nine Fundamentals level papers.
• Complete the ACCA Professional Ethics module according to the Research and Analysis Project submission dates.
• Complete and pass the Oxford Brookes University Research and Analysis Project.
Go through this infographic and the tables below to understand ACCA and its advantages much more deeply and properly.
| EXAM ENTRY DEADLINES | |||
| Exam entry period | Early | Standard | Late |
|---|---|---|---|
| June exam session 8 March9 March – 8 April9 April – 8 May | |||
| December exam session 8 September9 September – 8 October9 October – 8 November | |||
| Exam entry method online onlyonline and paperonline only | |||
FEES
• ACCA initial registration fees – £79
• ACCA annual subscription fees – £83
• Reinstatement fees – £79
EXEMPTION FEES
You are required to pay a fee for each exemption ACCA awards you. This will be the same as the early exam entry fee. Please refer to the table above to estimate your exemption fees or find more detailed fee information here
For more FAQ’s click here
| Exam level | Exam entry period | June 2015 exam fee (per exam) | December 2015 exam fee (per exam) |
|---|---|---|---|
| Knowledge (F1 – F3) | Early | £71 | £71 |
| Standard | £76 | £76 | |
| Late | £231 | £231 | |
| Skills (F4 – F9) | Early | £90 | £90 |
| Standard | £96 | £96 | |
| Late | £252 | £252 | |
| Professional P1, P2 and P3 (and any two from P4, P5, P6 and P7) | Early | £103 | £104 |
| Standard | £111 | £112 | |
| Late | £266 | £268 |
LOANS FOR STUDYING ACCA
To help you fund your ACCA qualification, we have also partnered with Canara Bank so that ACCA students can borrow student loans for studying the ACCA Qualification. You can
register with EduPristine for classroom training and EduPristine will give you a letter for loan application. To know more about this procedure call us at 1800 200 5835 or you can mail us at support@edupristine.com
Hopefully, all your queries and questions were answered, but if you still have any doubt or query leave a comment below or visit this page. There are many more career options present for you in the field of finance as well. Here is the list of finance course that you can pursue for a better career.
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