ACCA - Frequently Asked Questions (FAQs)
As a globally recognized education and updated/Industry relevant content, ACCA qualification is a great way to build a career in Accounts and finance. Students can pursue this along with their graduation. Its flexible examination scheme makes this qualification more attractive. Here are some of the Frequently Asked Questions about ACCA.
Is ACCA worth doing?
If you are looking to take your accounting and finance career to the next level, taking professional exams is the best next step. If you’re willing to put the work in, make certain sacrifices and work through the occasional tough times, then ACCA is worth it.
You might face some setbacks, but you’ll learn from your mistakes and you’ll keep ploughing on. Plus, when you do pass, you’ll unlock fantastic benefits like a global career and higher earnings.
However, if you’re uncertain about committing to the amount of work, or you think you can just coast through the exams, or you aren’t sure you really want this, the ACCA is probably not for you.
Is ACCA valid in India?
There is a lack of awareness in India about ACCA and in part, that is because Indian firms do not recognize ACCA. Companies founded and based in India follow ICAI, the well-established Institute of Chartered Accountants of India. The scope of ACCA in India is rapidly growing. ACCA qualified professionals are securing high profile jobs across several countries and are being hired by MNCs in India. As an ACCA qualified, you’re eligible for different career opportunities in India as well as overseas. You qualify yourself to become a Financial Consultant, securing a professional profile abroad, or starting up your own business.
In India, ACCA is recognized by most multinational companies (MNCs) operating in India. This means that ACCA opens up plenty of career opportunities, both in multinational companies in India, as well as internationally. It is quickly becoming one of the more sought-after courses, due to the lack of qualified ACCA professionals globally, and it also opens up a host of career opportunities such a management consultant, financial planner, and so on.
To know more about ACCA in India, Click Here
Can I get a job after ACCA?
ACCA Qualifications open multiple options at a wide range of organizations because:
- Holistic approach in curriculum trains you for diverse roles; you can go on to per strategic tasks
- Multinational organizations including the Big 4 and a large number of captives/KPOs are aware of the ACCA qualification since its members/students are spread across 181 countries.
Can I finish ACCA in 2 years?
ACCA examinations comprise a total of 14 papers including 9 fundamentals and 5 professional papers. In a year, ACCA runs 4 exam sittings allowing students to take a maximum of 8 papers. Therefore, the fastest duration possible to complete ACCA is 2 years. Most people take 3 years but some can go on for 6-7 years.
Can we do CA and ACCA together?
You can have the certification of both CA and ACCA but you need not do it together. Begin with CA and complete up to the IPCC/Inter examinations. You will have approximately 2 years of work experience (articles) before you begin studying full-time for Final CA. This will entitle you to 5 papers (6 if you are also a graduate) of ACCA. n this time frame, you start studying for ACCA.
F5 and F9 can be completed relatively quickly as the syllabus overlaps with the IPCC examinations of Costing and FM. Study F7, P1, P2, P3 with diligence in the following year along with articles. Opt for either P4, P5, P7 as your final 2 papers, as this overlaps with your Final CA syllabus.
Like a symbiotic relationship, completing IPCC will ease your effort for the Fundamental level of ACCA, and the Professional level of ACCA will ease your effort for a few subjects for Final CA. Attempt your Final CA.
3 years of work experience can be counted towards both the qualifications. This would allow you to complete CA as well as ACCA in the same time frame it would take for CA (notice how you begin with CA and end with CA without flexing the timeline, and complete ACCA in the interim).
To know more about ACCA Exemptions for CA Students, Click Here
Can I self-study ACCA?
It is very much possible to pass the exams by self-studying provided one is focused and is systematic in their exam prep techniques. ACCA provides “Study Support Guides” which comes with a plan layout they have made considering the recommended time frame to give to each paper. (So ACCA has done most of the work for you!)
Is ACCA easy? How difficult or hard is it to pass?
Compared to some of the other accountancy courses, ACCA a relatively easier course. While the CA and CFA courses notoriously have a 3-4% pass percentage, the average for ACCA is as high as 30-40%. Known for its flexibility, with ACCA you can choose between part-time or full-time study. It is perfect for those who are planning to work and study simultaneously, as you can choose how many subjects to take at a time.
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