ACCA is a globally recognised professional qualification renowned for imparting a comprehensive understanding of the accounting and finance industry. It is highly coveted by employers and esteemed by organisations worldwide.
The Association of Chartered Certified Accountants offers several ACCA exemptions. These exemptions validate the candidate’s prior learning and provide flexible entry points for individuals joining at a level that aligns with their existing professional or academic expertise. Plus, ACCA exemptions save time and reduce the overall cost of obtaining the qualification for individuals with prior experience or qualifications.
ACCA Exam Details
Before we discuss the ACCA exemptions, let’s revisit the ACCA exam pattern. The ACCA exam comprises 13 professional-level papers divided into four modules.
| Applied Knowledge | Business and Technology (BT)
Management Accounting (MA) Financial Accounting (FA) |
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| Applied Skills | Corporate and Business Law (LW)
Performance Management (PM) Taxation (TX) Financial Reporting (FR) Audit and Assurance (AA) Financial Management (FM) |
|
| Professional | Mandatory | Strategic Business Reporting (SBR – INT)
Strategic Business Leader (SBL) |
| Optional | Advanced Audit & Assurance (AAA – INT)
Advanced Performance Management (APM) Advanced Taxation (ATX – UK) Advanced Financial Management (AFM) |
Candidates can appear for these exams in any order, with the flexibility to study and take the exams at their own pace.
What are ACCA Exemptions?
ACCA exemptions let you bypass certain ACCA exams while completing the qualification. Depending on your prior qualifications, you may qualify for exemptions from specific ACCA exams.
For example, if you have a commerce background or have studied finance and accounting, ACCA may exempt you from some of the 13 papers. Additionally, relevant work experience in accounting and finance may make you eligible for exemptions.
If you’re unsure about your eligibility, you can easily check by using the exemptions calculator on the ACCA website.
ACCA Exemptions for B.Com and M.Com Students
Individuals who have already completed their B.Com/M.Com qualifications are eligible for exemptions in the ACCA Knowledge level (F1 to F3) and ACCA Skill level (F4) subjects.
The ACCA Knowledge level includes:
- F1 – Business and Technology (BT)
- F2 – Management Accounting (MA)
- F3 – Financial Accounting (FA)
The ACCA Skill level includes:
- F4 – Corporate and Business Law (LW)
ACCA Exemptions for BBA
Individuals with a BBA qualification are eligible for exemptions in the ACCA Knowledge level papers, specifically F1 – Business and Technology (BT).
ACCA Exemptions for MBA
MBA holders are eligible for exemptions in ACCA Knowledge level papers. These exemptions include:
- F1 – Business and Technology (BT),
- F2 – Management Accounting (MA),
- F3 – Financial Accounting (FA).
ACCA Exemptions for CA Foundation Students
No exemption
ACCA Exemptions for CA IPCC Qualified Students
CA IPCC-qualified students are exempt from papers F1 to F3, F6, and F8.
The papers are as follows:
- F1 – Business and Technology (BT)
- F2 – Management Accounting (MA)
- F3 – Financial Accounting (FA)
- F6 – Taxation (TX)
- F8 – Audit and Assurance (AA)
If an individual has completed B.Com/M.Com in addition to IPCC, they will be exempt from paper F4 – Corporate and Business Law (LW).
ACCA Exemptions for Qualified CAs
CA Final-qualified and ICWA/ICMAI-qualified individuals will receive exemptions for specific ACCA papers based on their knowledge, skill level, and work experience.
The exempted papers are:
- F1 – Business and Technology (BT)
- F2 – Management Accounting (MA)
- F3 – Financial Accounting (FA)
- F4 – Corporate and Business Law (LW)
- F5 – Performance Management (PM)
- F6 – Taxation (TX)
- F7 – Financial Reporting (FR)
- F8 – Audit and Assurance (AA)
- F9 – Financial Management (FM)
How Can You Apply For ACCA Course Exemption?
To apply for ACCA course exemptions, you have two options:
- You can claim exemptions by submitting your request when registering as a student on the ACCA website.
- You can also email your documents to ACCA to inquire about exemptions.
Conclusion
For those pursuing the ACCA qualification, it is essential to understand the exemptions available and the associated fees. This will help ensure that obtaining the ACCA qualification is smooth and cost-effective.
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FAQs
- Who is applicable for ACCA exemptions?
The ACCA offers exemptions for commerce graduates (B.Com and M.Com), BBA, MBA, CA IPCC, CA Final and ICWA/ICMAI qualified individuals. Candidates may be eligible for exemptions from the Applied Knowledge and Applied Skills examinations based on their qualifications. However, exemptions are not allowed for the Professional module or based on work experience.
- Can an existing ACCA student apply for an exemption?
Existing students who have already enrolled in the ACCA course can apply for fresh exemptions if they have obtained additional qualifications in other courses after joining the ACCA course and are now eligible for exemptions in the ACCA course.
- Are there any ACCA exemption fees involved?
Yes, the candidate has to pay an exemption fee based on the course level. According to the official website of ACCA, the ACCA exemption fee structure is as follows:
- Applied Knowledge exams – £84
- Applied Skills exams – £111
