ACCA Full Form in Commerce & More – All That You Need to Know About ACCA

ACCA course full form – An Intro

Have you been wondering what is ACCA full form? Well, recognised in over 180 countries and offering you the dignified designation of global CA, the abbreviation ACCA stands for the Association of Chartered Certified Accountants. ACCA is highly popular worldwide as it provides the key to unlocking one of the most prestigious careers, that is, the globally recognised ‘Certified Chartered Accountant’. The ACCA provides the certification of the same to students. The ACCA full form course, the Association of Chartered Certified Accountants, is the best choice for those who seek to build an international career in finance and accounting, taxation, auditing, management accounting and financial consulting. With its comprehensive approach, the ACCA certification not only helps candidates master skills in accounting, financial management and finance but also helps them pursue rewarding shining professions. While you may explore a wide array of senior roles in accountancy and finance in international companies, this accreditation also unveils opportunities of becoming a registered Auditor for you!

If you too are an aspiring accountant and wish to gain this globally recognised and highly coveted international certification, you must be curious to know about all the details of this certification including the full form of ACCA course, ACCA subjects, ACCA course details and ACCA course fees. Get ready to enhance your knowledge on the same as we have covered all this and more for you, here, in our blog. So, let’s get started!

What is ACCA Full Form & Meaning

Based primarily in the UK and embedding core values like integrity, innovation, inclusivity, and accountability, the Association of Chartered Certified Accountants (ACCA) provides internationally recognised certification in accounting, finance and audit to the candidates. It is interesting to know that ACCA is the oldest and still one of the most popular CA programmes in the world. The three levels of ACCA are - Knowledge, Skill and Professional. After clearing the ACCA exam, candidates get brilliant job opportunities in diverse domains of accounts, finance, auditing, etc all over the world. ACCA has 200,000 plus members and more than 600,000 students (from 180 countries) across the globe. ACCA has 100 international offices that are dedicated to offering localised support too. Moreover, the flexibility of the ACCA course allows students to pursue this international qualification along with their graduation studies.

Why You Should Choose ACCA?

Apart from offering a wealth of knowledge and skills to accountant aspirants, the ACCA certification brings forth a myriad of prospects for them. With your ACCA certificate, you are ready to explore the bright job chances in more than 180 countries. Note that ACCA (ACCA course full form - Association of Chartered Certified Accountants) holds great value and recognition globally and therefore, popular international companies are always looking for ACCA certificate holders. It is also important to notice that ACCA is quite affordable and it simultaneously offers you the opportunity of acquiring an international professional qualification.

Who Should Enrol in the ACCA Course?

• Candidates who wish to pursue a rewarding career in Finance, Auditing or Accounts.
• Candidates who want to acquire an international professional qualification with bright career opportunities across the world.
• Accountant aspirants who are looking for flexible study schedules along with a wealth of knowledge and promising careers ahead.
• Accountants who want to take their career to the next level. Note that based on your previous qualification, ACCA exempts you from 9 out of 13 papers!

ACCA Course Details at a Glance

• ACCA Full Form in Commerce - Association of Chartered Certified Accountants
• Duration of ACCA Course – 1 to 7 Yrs.
• ACCA Eligibility Criteria - 10+2 with a minimum of 65% aggregate in Maths/Accounts and English, and 50% in other subjects
• ACCA Admission - You may enrol in ACCA after passing your 10th-grade examination. However, you must finish a Diploma course first before you step into further core subjects of ACCA subjects (Total 13 in no.)
• ACCA Course Fees - INR 28,000 to INR 2,60,000
• Total Exams/Papers in ACCA – 13 (with the provision of exemption based on your previous qualification)
• ACCA Avg. Salary - INR 3.5 to 4 LPA

Important Points You Must Know for the ACCA Eligibility

ACCA course (full form of ACCA course - Association of Chartered Certified Accountants) is quite popular for its rich and inclusive eligibility criteria. You must enlighten yourself with the given below points related to the eligibility criteria of ACCA.

• To pursue the ACCA Foundation, you do not need any formal education. It’s an open opportunity for all!
• After the successful completion of the Diploma course for the ACCA Foundation, you may apply for the primary ACCA certification exam.
• If you are applying to ACCA after your 12^th Grade, you must have a minimum of 65% in subjects like English, Mathematics, and Accounts & a minimum of 50% in the rest of the subjects.

ACCA Exams – At a Glance

Foundations Level:

• Exam Duration: 2 hours
• Passing Marks: 50%
• Total Marks: 100

Applied Knowledge Level:

• Exam Duration: 2 hours
• Passing Marks: 50%
• Total Marks: 100

Applied Skills Level:

• Exam Duration: 3 hours
• Passing Marks: 50%
• Total Marks: 100

Strategic Professional Level:

• Exam Duration: 4 hours
• Passing Marks: 50%
• Total Marks: 100

The Criteria for ACCA Exemptions

Now that you know about the ACCA full form in Commerce and other details, it’s time to discuss the ACCA exemption criteria.

• Undergraduates - If you have passed the 10+2 exam, you must take all 13 ACCA papers. No exemptions are available.
• BCom & MCom Graduates - If you have a BCom or MCom degree, you only need to take 9 ACCA papers. You are exempt from 4 papers: 3 from the Knowledge Level (Management Accounting, Business and Technology, and Financial Accounting) and 1 from the Skills Level (Corporate and Business Law).
• CA Inter Passes - If you have passed the CA Inter exams, you need to take 8 ACCA papers. You are exempt from 5 papers: Business and Technology, Financial Accounting, Management Accounting, Audit and Assurance, and Taxation.
• CA Final Passes - If you have completed CA exams, you only need to take 4 ACCA papers. You are exempt from all Knowledge Level and Skills Level papers and only need to take the Professional Level exams.

ACCA Course Details/ ACCA Subjects

The ACCA Syllabus is divided into four main sections. Let us take a quick look at these four sections along with the necessary details.

Foundations in Accountancy

• ACCA Diploma in Financial and Management Accounting (RQF Level 2)
• ACCA Diploma in Financial and Management Accounting (RQF Level 3)
• ACCA Diploma in Accounting and Business (RQF Level 4)
• Certified Accounting Technician (CAT)

Knowledge Level

• Business & Technology
• Management Accounting
• Financial Accounting

Skill Level

• Corporate and Business Law (LW)
• Taxation (TX)
• Performance Management (PM)
• Financial Reporting (FR)
• Audit and Assurance (AA)
• Financial Management (FM)

Professional Level

• Strategic Business Leader (SBL)
• Strategic Business Reporting (SBR)

Optional Subjects in the Professional Level

• Advanced Financial Management (AFM)
• Advanced Performance Management (APM)
• Advanced Taxation (ATX)
• Advanced Audit and Assurance (AAA)

ACCA Course Fees

The total cost for the ACCA program is approximately INR 1,70,000. Below is a detailed breakdown of the fees:

• Initial Registration: INR 2,700
• Annual Subscription: INR 10,440
• Knowledge Level: INR 22,680
• Skill Level: INR 69,660
• Professional Level: INR 64,170

Total: INR 1,69,650

ACCA Career Prospects

The ACCA course offers numerous opportunities, particularly due to globalization and expanding business markets. Here’s why ACCA is a strong choice:

1. Worldwide Recognition: ACCA is a prestigious qualification acknowledged in over 180 countries. Indian ACCA graduates frequently secure positions in countries like the UK, Australia, Singapore, and Germany.
2. High International Demand: Foreign businesses operating in India seek ACCA professionals with expertise in international accounting standards such as US GAAP and IFRS.
3. Broad Career Pathways: ACCA professionals have career opportunities comparable to Chartered Accountants (CAs), with roles available in more than 180 countries.
4. Extensive Network: ACCA is integral to many sectors, including government and education. It features 7,500+ approved employers and 80+ partnerships with accountancy organizations, offering valuable connections.

Wrapping Up

In summary, pursuing the ACCA certification can open doors to a global career in finance and accounting. With its esteemed international recognition and wide range of opportunities, ACCA equips you with the skills needed for a successful career in various sectors worldwide. Whether you aim to work abroad or with international firms, ACCA provides the credentials and flexibility to advance your professional journey. Embrace the potential of ACCA and set yourself on a path to a distinguished career in finance.

FAQs

Q1. Is ACCA harder than CA?

A1. No, ACCA is considered easier than CA because of the following factors.

• The CA course duration is approximately 4 to 5 years, while the ACCA course duration is 3 years.
• CA has a more detailed syllabus compared to ACCA.
• CA has a pass rate of 4%-5%, whereas ACCA has a higher pass rate of 40%-50%.

Q2. What is ACCA qualification?

A2. The ACCA qualification is a globally recognised professional accountancy qualification which combines practical experience and ethics training. The ACCA qualification prepares individuals for rewarding careers in accounting and finance.

Q3. Can I do ACCA after 12th?

A3. Yes, you can pursue ACCA after completing 12th grade if you have secured 65% or more in Accounts/Mathematics and English and 50% or more in other subjects in class 12.

Q4. Is ACCA better than CFA?

A4. Both ACCA and CFA are considered prestigious qualifications. Choosing one of these depends on an individual’s career objectives and interests. ACCA offers a broader range of job roles in finance and accounting, while the CFA mainly focuses on financial analysis and investment management.

Q5. Who is eligible for ACCA course?

A5. Students who have passed class 12 with a minimum of 65% marks in Accounts, Maths, and English, and 50% in other subjects, are eligible to apply for the ACCA course. They can enrol in the ACCA course after passing class 10. However, they must complete the ACCA Foundation diploma course before stepping into the core ACCA subjects, which are a total of 13 in number.

Q6. What is the salary of ACCA?

A6. The salary of ACCA professionals depends on factors like experience and job roles. However, the starting average salary of ACCA professionals is 3.5 to 4 lakh per annum.

Q7. Is ACCA a high paying job?

A7. Yes, ACCA is considered a high-paying career. The starting salary for ACCA professionals in India is around ₹3.5 to ₹4 LPA, but with experience, it can go up to ₹15 to ₹20 LPA or even more. ACCA-qualified individuals enjoy strong career growth opportunities both in India and abroad.