How to do ACCA after CA to get a global qualification?

How to do ACCA after CA to get a global qualification?
ACCA stands for Association of Chartered Certified Accountants which is a global professional accounting body that offers Accountant qualification certified by Chartered Accountant. ACCA is one of the most popular global accountancy qualifications. And needless to say, the ACCA is the catalyst that drives your career in the right direction as well. Find everything about the ACCA such as the process of admission, application form submission process, entry requirements, and lots of other details in the following post.

How to Apply for ACCA after CA?

  • The CA candidates can apply for ACCA online at ANY TIME of the year. The applications can be submitted online along with the supporting documents which will be mentioned on the official website of ACCA.
  • As the applications are submitted online, the processing of ACCA applications is very fast and the candidates are able to find the levels at which they have to begin their studies.
  • The candidates are advised to upload all the supporting documents at once while applying for ACCA; so that the forms are submitted and processed rapidly.
  • The candidates should note that without uploading the supporting documents and fee remission, the ACCA form submission will not be over.

Find all the other important details related to the ACCA application and other stages of certification.

Entry Level Requirements for ACCA:

There are some entry- level requirements for individuals who applied for ACCA after CA which can also be termed as the ACCA eligibility norms. The candidates will be allotted subjects for different levels depending on these entry level requirements.

Minimum Entry Requirements for ACCA are as follows:

  • The candidates are required to have passed TWO A-Levels and 3 GCSEs or any other equivalent exam.
  • The above mentioned exams (qualifying exams) should have been taken in 5 different subjects inclusive of English and Maths.
  • The official website of ACCA has a list of all kinds of exams conducted across various nations that are recognized by the ACCA.
  • In order to check whether the educational qualifications of any applicant are enough or not, they can visit the official website and find the database of minimum entrance requirements.

Entry Level Requirements for Foundation in Accountancy:

  • No minimum requirements have been fixed for the Foundation course. The candidates can begin at any level; though the Introductory Certificate is recommended in case the candidate has no formal education.
  • The candidates with education gap for formal education are also recommended, to begin with, the Introductory Certificate.
  • This is due to the fact that the candidates beginning at the Introductory Certificate level and moving to Foundation Level Qualifications are better performers in the higher level exams.

ACCA Application Submission Process

While applying for ACCA certification, the candidates are required to upload the copies of the supporting documents related to their qualification and personal verification. Without uploading the supporting documents, the submission process will not be over.
Documents Required for ACCA Application Submission

  • Official documents related to the educational qualification such as completion certificates or transcripts.
  • ID proofs such as Birth Certificate, National ID Card, Driving License and Passport etc.
  • Passport size photograph.

The candidates should note that the documents that are issued in any language other than English are to be uploaded in English Language as well. This means that the candidates have to get them translated into English and upload them along with the copy of the original document.
The candidates should note that mere filling of details in the application form and uploading of the supporting documents is not enough. After that they have to fill the fee as well.

Time taken for registration as ACCA student:

  • As the application process is online and candidates have to complete all the steps such as document submission and fee remission online only, the time taken to complete the registration is very less. If the candidates have all the documents and other things ready, they can complete the registration process in 15 to 20 minutes.
  • After the form has been submitted, the information has been verified and the fee has been acknowledged, the candidates can begin the course within 5 to 7 working days. In case, the documents are submitted offline i.e. via Mail, the complete process will take around 10 days to complete.
  • The candidates will be issued and sent a communication via email or offline mail to intimate that the form has been accepted and other details regarding the course.
  • The candidates can find the detailed fees on the official website. The fee is different for each country and each course.

EXEMPTIONS in ACCA:

The candidates can choose the exemptions while applying. These exemptions are based on the educational qualifications of the candidates and vary from person to person. This means that the candidates will not have to take some exams depending on the type of their qualifications. For example, candidates who applied for ACCA after CA has to appear only less number of exams when compared with normal exams.
There is an exemption calculator available online on the official website which will help the candidates to figure out the exemptions they can apply for.

Exams to be taken for completion of ACCA:

  • The candidates are to take 13 exams in total to complete the ACCA qualification and become a member of the same.
  • The exemptions in the number of exams mentioned above will be awarded based on the previous qualifications.
  • Apart from that, they are to have 3 years practical work experience.
  • Ethics and Professional Skills modules.

Duration of ACCA Qualification:

  • Number of sessions in each year: 4
  • Number of exams that a student can take at each session: 4
  • Maximum number of exams a student can take in each calendar year: 8
  • Number of years of professional experience: 3 years
  • Minimum duration in which a student can complete the ACCA qualification: 3 years

Duration of Foundation in Accountancy:

The initial foundation level qualifications are:

  • Introductory Certificate in Financial and Management Accounting
  • Intermediate Certificate in Financial and Management Accounting

They contain 2 exams and Foundation in Professionalism Module. This can be completed in 6 months.
The Diploma in Accounting and Business can be completed in 1 YEAR. The Certified Accounting Technician Qualification can also be completed in 1 YEAR given that you achieve the level of required work experience.
The candidates can find the details on required work experience level online on the official website.

How to Study for the ACCA after CA?

  • ACCA itself doesn’t provide any tuition. Though, it has a recommended global network of 3rd party tuition providers which helps the students to prepare for the exams and other kinds of requirements such as professional experience etc.
  • The candidates can find the Tuition Provider Directory on the official website.

Scope and opportunities for ACCA in India

ACCA stands for Association of Chartered Certified Accountants and is a reputed and world renowned association that provides a global qualification for the CAs. The certification includes 13 exams, 3 year professional work experience and ethic and professional work modules. The candidates can be exempted from some exams depending on their existing educational background.

Scope and opportunities for ACCA in India

Being a globally recognized qualification, the candidates having required ACCA membership can apply for jobs overseas as well. Similarly, the ACCA members can also apply for jobs in all the major MNCs in India including the Big Fours (KPMG, Deloitte, PwC and EY). The following post is concerned with the various  ACCA job opportunities in India.

The syllabus of ACCA comprises of knowledge module, skill module and essential module, which is as follows:

Knowledge Module

F1 – Accountant in Business
F2 – Management Accounting
F3 – Financial Accounting

Skill Module

F4 – Corporate and Business Law
F5 – Performance Management
F6 – Taxation
F7 – Financial Reporting
F8 – Audit and Assurance
F9 – Financial Management

Essential Module

P1 – Governance Risk and Ethics
P2 – Corporate Reporting – (UK or International)
P3 – Business Analysis

Options

P4 – Advanced Financial Management
P5 – Advanced Performance Management
P6 – Advanced Taxation
P7 – Advanced Audit and Assurance – (UK or International)

ACCA Scope in India:

  • The scope of a bright career and secure future that leads to financial freedom is on the rise. The companies (all sizes and might) are becoming more and more aware of the ACCA, its repute and value as an international standard.
  • Though some companies are still unaware of the global ACCA certification, the awareness is spreading really fast.
  • With ACCA membership, you can secure a job at the top MNCs inclusive of the BIG FOURS. Apart from them, the core companies such as TATA, BARCLAY’S, STANDARD CHARTERED, BDO, GRANT THORNTON etc are also recruiting ACCA.
  • The various job profiles that a student can follow after the successful completion of ACCA course in India

 

    • Investment Advisory
    • Risk Advisory
    • Audit and Assurance
    • Accounting Advisory
    • Internal Audit
    • Taxation
    • Corporate Finance etc

 

  • The job offers, designation and salary packages are though similar to those of CAs.

ACCA Job Opportunities in India

Though it really depends on the ACCA himself or herself, there are numerous career options once the qualification is over. As the qualification itself requires a professional work experience of 3 years, the ACCA can either resume their jobs at the companies they choose to work for in that tenure or go for the corporate jobs or private consulting etc.

  • The ACCA can secure a job in consulting, advising, fund management and taxation etc abroad such as USA, UK, Dubai and Singapore.
  • Financial or consulting job in the top-level MNCs.
  • Starting your own business for advising, consulting, tax filing etc can be another career option for the ACCA.
  • In case you wish to complete another program in Masters and pursue teaching etc in the field, you can do that as well.
  • Though the ACCA members don’t have the signing authority in India, they can do the audit work in the firms they are employed in.

ACCA Jobs in India:

There is one single dictum as far as the job market in India is concerned. In case you are the best of your field, the jobs will chase you themselves and in case you are average, the race is going to be at your end. Finally, if you are the one that falls into the category of below average performer, it is going to be really hard for you to find and grab a job.

The same principle applies to ACCA members as well. Having a good academic background, a good performance at the ACCA course exams and a good work experience will ensure that you have 2 or 3 job offers waiting for your final createresponse. The number actually depends on your abilities as well.

Taking help from some consulting or referral firm that connects you to the good firms with vacancies is one way to grab the ACCA Job opportunities in India. Sending individual resume to different firms on your own is another approach.

Further, the ACCA members are yet to achieve that distinct level of qualification and skill set in India. The jobs and designations will be equal to those of CAs. Therefore, a mere ACCA course certification will not make you superior to a CA competitor. You have to be good at your work.

Perks of being an ACCA member:

  • As the ACCA qualification is globally recognized, the candidates can apply for all the top international firms and get positive responses depending on their performance and professional experience.
  • The international jobs are always a yes.
  • The ACCA member is obviously a better choice for every firm as he or she is already well versed with the work ethic; has the required set of skills, has a better understanding and knowledge of the accounting world.
  • Apart from the core knowledge, the ACCA members have an exceptional understanding of the market strategy and organizational management.
  • What makes ACCA a big YES is the fact that the candidates can study while being in a job as well.

Another plus point of having an ACCA course certification is that you can move to the senior management positions very easily and in the very beginning of your career.

Hence, ACCA certification can really give a thrust to your career and make you a financially secure person in no time. In case your career choice is driven by the monetary benefits, you can rest assured that you can find really good ACCA job opportunities, job profiles, and big fat salaries after becoming an ACCA member.