Firstly, it should be stated that ACCA stands for The Association of Chartered Certified Accountants. This institution was formed in 1904 and is still the sole globally recognized professional accounting body that offers Chartered Certified Accountant qualification.
ACCA, being the strongest growing international accountancy organization, has5,03,000 students and 7,00,000 members in 178 countries as of 2017.
Pursuing an ACCA qualification is the most respectable way to build a better career within Accounts and Finance. There is also an option where students can pursue the course along with their degree/graduation. This and the schemes of flexible examination of ACCA makes it more favourable to global students.
One who pursuing ACCA course can –
- Earn an ACCA Diploma or Advance Diploma in Business and Accounting. And proceed to earn ACCA Member status, which is a highly respectable one in the current world.
- Earn B.Sc Honours (Hons) in Applied Accounting granted by Oxfords Brookes University - widely recognized and esteemed qualification.
- Earn M.Sc in Professional Accountancy granted by Lond - University of London
Job Opportunities for ACCA after Successful Completion
The scope of ACCA jobs in Kerala and even across India is primarily in Multinational Corporations (MNCs).
Here are few of the companies, along with the Big Four, which has employed ACCA members –Deloitte
- EY - Ernst & Young
- PwC – PricewaterhouseCoopers
- Proctor & Gamble
- Etihad Airways
- Rolls Royce
- Goldman Sachs
- HP - Hewlett Packard
- Grant Thornton LLP
- BDO - Binder Dijker Otte
- Crompton Greaves
- Credit Suisse
- BNP Paribas
- ICICI Securities
- J.P. Morgan & Co
- Tata Communications
- Embassy Group
And many big companies likewise continue hiring ACCA candidates. Apart from that, ACCA, the global body for professional accountants, is closely working with lots of companies. This increases awareness of the importance of ACCA. All these factors make companies open to hiring ACCAs and as its result, increasing the demand for the ACCA qualification in the country.
Most companies often offer a fresher an ACCA average salary package of INR 8 lacks.
In addition, if you wish to start your own firm, you can at first start working in the areas of finance and study further to accomplish the goal.
Some roles performing by ACCA members –
- Financial Manager
- Partner of Professional Firms
- Management Accountant
- Internal Auditor
- Forensic Accountant
- Business Advisor
- Compliance / Governance Officer
- Credit Control Manager
- Chief Financial Officer
- Tax Accountant
- Insolvency Practitioner
- Group Accountant
- Risk Manager
- Funds Manager
- Business Analyst
- Financial Analyst
Furthermore, you could also secure jobs in foreign countries. Some of these are –
- UK – United Kingdom
- South Africa
- New Zealand
So the job opportunities with an ACCA relevant degree are limitless! It is one of the world’s most dynamic and fastest-growing accountancy bodies.
ACCA entry requirements / Eligibility
To get started with your ACCA course, you should have a minimum age of 18 and you should be a 10+2 passed student with a total of 65% in including English and Mathematics / Accounts. And should have scored at least 50% in the remaining subjects. ACCA’s professional exams are being held twice yearly worldwide – June and December.
Also, Lakshya ACCA Institute in Ernakulam provides an opportunity for B.com degree studying students to pursue ACCA course along with it. But please note that the degree should be granted only by any UGC affiliated university.
ACCA course duration is around 2 years. It offers a total of 15 papers, and out of it, you are required to successfully complete 13 papers in order to be an ACCA member.
These 15 papers are divided into 2 levels –
- Fundamental level and
- Professional level
The first level, that is ‘Fundamental’, is further formed into two subdivisions. These are Applied Knowledge and Applied Skills Module.
The first module, Applied Knowledge, introduces to students the primary concepts behind financial accounting and management accounting. It also provides you with a broad understanding of all-important accounting techniques. All the papers of Applied Knowledge are objective and CBE - Computer Based Exams. There is no time limit/time restriction to these papers and can be tried anytime you prefer. CBE offers flexibility to students. Lakshya ACCA Institute in Kerala is a CBE licensed centre, which provides all students with the opportunity to write exams at Lakshya’s campus itself.
Applied Knowledge Module
The module Applied Knowledge is further subdivided into three papers. They are -
- Accountant in Business
- Management Accounting
- Financial Accounting
Note - You are required to be a 12th passed student in order to enter Applied Knowledge level.
Once you have completed these three papers, you will be awarded the ACCA Diploma in Accounting and Business. After that you will be eligible to start the next level – Applied Skills Exams.
Applied Skills Module
The Applied Skills Module chiefly gives importance to technical areas. It is built on the existing knowledge and understanding you have earned prior, and helps to develop strong, wide practical experience in finance skills.
Every ACCA aspirant should have personal knowledge of the technical aspects, which helps them to enhance their knowledge. This module is also a Computer-based exam like the Applied Knowledge Module. But there is a major difference. Applied Skills is time-bound. You can only attempt the exams four times a year.
The exams of this module are conducted during March, June, September, and December. Also, you have the choice to write any four papers in each session.
The module consists of six exams/papers –
- Corporate and Business Law
- Performance Management
- Financial Reporting
- Audit and Assurance
- Financial Management
To opt for Applied Skills module, you must have either completed your Applied Knowledge exams, that is, achieved your ACCA Diploma in Accounting and Business or have an applicable/relevant finance or accounting qualification at graduation level.
At the end of the module, when you completed Applied Skills exams successfully, you can go on to join our Strategic Professional Level.
Whereas, even from completing Applied Skills exams alone, you will have wide job opportunities. Some of them are trainee business analyst, finance trainee and internal auditor.
Completing your Applied knowledge and Skills exams will take only 12 – 18 months.
But to acquire ACCA Qualification and to become a member of ACCA, you need to clear the Strategical Professional level and should have about 3 years’ applicable/relevant work experience.
Strategic Professional Level
The final level is the Strategic Professional Level. You are one step away from being an ACCA member! Closer to adding the letters ACCA just after your name!
At the Strategic Professional Level, you will be developing your dynamic skills and the vast strategic vision, that all greatest business and financial leaders need. This level will offer you the opportunity to specialize in areas that are best suited to your career ambitions.
The Strategic Professional is subdivided into two modules –
- Essentials and
The main focus in the modules is to make you excel in the spheres of advance professional techniques and skills. It is required by senior accountants working in advisory or consultancy roles.
The modules require you to attempt 4 examinations. Of these, two are compulsory. They are - Strategic Business Leader and Strategic Business Reporting. Of the remaining two, you can choose your preferred one according to your career ambitions. These remaining twos are Advanced Audit and Assurance or Advanced Financial Management, Advanced Taxation.
After the successful completion of ACCA, you will be an ACCA member, and it unlocks in front of you a wide number of opportunities. It could even lead you to senior positions like a financial manager, partner of professional firms, chief financial officer etc.
Lakshya gives you a very professional edge where you can kick start your career. It is only a fact that in every field of Finance and Accounting, ACCAs are sought after very much.
All the same, you should note that having an ACCA qualification will improve your profile to higher places, yet the practical experience is also always important.
ACCA Course Fee Structure
Lakshya ACCA Institute in Kochi has the most reasonable fee structure for its excellence in teaching ACCA.
For Applied Knowledge Level - 50,000 + GST
For Applied Skills level -70,000 GST
For Strategic Professional level -50,000 + GST
Exam fees of ACCA needs to be paid directly to the global body ACCA.