ACCA (Association of Chartered Certified Accountants)
Price
₹1,50,000 to ₹3,00,000
Duration
2-3 years
Skills Required
About the Course
The ACCA qualification is a globally recognized credential that provides aspiring accountants with the skills necessary for a successful career in finance and accounting. The program consists of 13 examinations across three levels, focusing on essential areas like financial management, taxation, and auditing. Students are required to gain practical experience alongside their studies. With an ACCA qualification, graduates have vast career opportunities in various sectors worldwide. This qualification is highly regarded by employers, making it a valuable investment for future accountants.
Education Pathway:
1. Complete 10+2 (2 Years)
Stream Options: While it is preferable to choose Commerce, students from any stream can apply.
Recommended Subjects: -Business Studies: Understanding the principles of business management and operations.
-Accountancy: Basics of financial accounting and reporting.
-Economics: Principles of micro and macroeconomics that impact businesses.
-Mathematics: Fundamental quantitative skills that are essential for financial analysis.
2. Enroll in ACCA
Eligibility: After completing 10+2, students can register for the ACCA qualification.
There is no formal prerequisite; however, a background in mathematics and business is beneficial.
Registration Process: -Create an ACCA account on the official ACCA website.
-Pay the registration and subscription fees.
-Choose your learning provider for ACCA papers.
Course Structure: The ACCA program consists of 13 papers categorized into three levels:
A. Applied Knowledge (3 Papers) -Business Technology (BT)
-Management Accounting (MA)
-Financial Accounting (FA)
B. Applied Skills (6 Papers) -Corporate and Business Law (LW)
-Performance Management (PM)
-Taxation (TX)
-Financial Reporting (FR)
-Audit and Assurance (AA)
-Financial Management (FM)
C. Strategic Professional (4 Papers)
Strategic Professional - Level 1
-Strategic Business Leadership (SBL)
-Strategic Business Reporting (SBR)
Strategic Professional - Level 2
-Advanced Management (PM)
-Advanced Audit and Assurance (AAA)
-Advanced Performance Management (APM)
-Advanced Taxation (ATX)
Exams: Each paper is assessed through a combination of computer-based and written exams.
Exams can be taken in various centers globally, with multiple exam windows throughout the year.
3. Practical Experience Requirement (PER)
Experience Requirement: Candidates must complete a minimum of 36 months of relevant work experience in finance or accounting roles.
Relevant Fields: Work experience can be gained in roles such as auditing, management accounting, financial reporting, taxation, and consultancy.
Mentorship: During this period, candidates are encouraged to work under a qualified accountant who can provide guidance and mentorship.
Documentation: Candidates need to maintain a log of their experience and obtain verification from their employers.
4. Recommended Colleges in India
Mumbai: -Narsee Monjee Institute of Management Studies (NMIMS): Offers ACCA preparation programs integrated with their degree courses.
-Welingkar Institute of Management Development & Research: Known for its strong focus on business and finance courses that prepare students for ACCA.
-K. J. Somaiya College of Arts and Commerce: Provides education and resources for ACCA aspirants.
Other Indian Colleges: -Institute of Chartered Accountants of India (ICAI): Provides foundational courses that align well with ACCA studies.
-Indira Gandhi National Open University (IGNOU): Offers degree programs that are ACCA-affiliated.
5. Recommended Colleges Abroad
United Kingdom: -University of Oxford: Offers finance programs with ACCA alignment.
-London School of Economics (LSE): Provides undergraduate and postgraduate programs with ACCA approval.
Australia: -Monash University: Offers ACCA preparation through its business and commerce programs.
-University of Sydney: Has programs designed to meet ACCA requirements.
Malaysia: -Universiti Kebangsaan Malaysia: Offers courses that prepare students for ACCA examinations.
Singapore: -Singapore Management University: Provides a comprehensive accounting program aligned with ACCA.
Skills Required:
Analytical Skills: Ability to interpret complex financial data.
Attention to Detail: Ensuring accuracy in financial reporting.
Problem-Solving: Ability to resolve financial discrepancies.
Communication Skills: Conveying financial concepts clearly to stakeholders.
Regulatory Knowledge: Understanding of accounting standards and regulations
Scope:
In India:
The demand for ACCA professionals is rising due to increasing globalization and regulatory frameworks, providing opportunities in accounting, audit, taxation, and consultancy. Companies are keen on hiring ACCA-qualified individuals for their expertise in financial reporting and compliance.
Abroad:
ACCA members are highly sought after in various international markets, especially in the UK, Europe, and Asia. Opportunities exist in multinational corporations, consulting firms, and government agencies, where ACCA professionals can work in finance, audit, risk management, and advisory roles.
Job Opportunities
In India:
Jobs: Financial Analyst, Auditor, Tax Consultant, Management Accountant.
Sectors: Accounting, Finance, Consulting, Banking, and Taxation.
Companies: Deloitte, KPMG, Ernst & Young (EY), PwC (PricewaterhouseCoopers), Tata Consultancy Services (TCS)
Abroad:
Jobs: Financial Consultant, Audit Manager, Tax Advisor, Risk Manager.
Sectors: Accounting, Banking, Finance, Consulting, Corporate Services.
Companies: Deloitte, KPMG, PwC (PricewaterhouseCoopers), EY (Ernst & Young), JP Morgan Chase
Salary
In India:
Entry-Level: ₹4-6 lakhs per annum
Mid-Level: ₹6-12 lakhs per annum
Senior-Level: ₹12-25 lakhs per annum
Abroad:
Entry-Level: $50,000 - $70,000 per annum
Mid-Level: $70,000 - $100,000 per annum
Senior-Level: $100,000 - $150,000+ per annum
Note: Salary and course fees are subject to changes. Course duration can be more depending on the number of papers cleared per attempt.