ACCA Accounting Course

A country’s progress depends on the transparency of its economic operations and sound reporting. This builds confidence among investors and fosters a well-balanced investor-based environment, even attracting international investors. It ensures financial stability and reduces resource mismanagement and corruption.

All this can be achieved through solid accountancy competencies. The Association of Chartered Certified Accountants, a.k.a ACCA, comes in here. This oldest and most credible global accounting fraternity consists of a highly trained body of accountants who are efficient in handling financial and management accounting.

To join this prestigious community, you must take the ACCA accounting course. This blog is a comprehensive guide to the course, its exam levels, and the curriculum for each level.

What Does Doing an ACCA Mean for Your Future?

The ACCA accounting course will equip you with the essential skills, knowledge, and values to succeed in finance, accounting, and business management. The certification covers various topics, from financial and management accounting to taxation, law, and ethics.

Before you learn more about the curriculum, let’s give you a brief idea of what pursuing and completing the ACCA accounting course would mean for your career.

• Global recognition: Valued and recognised in approximately 180 countries and by 80 global accountancy bodies.

• • Promotion to senior roles: Get entry to senior strategic roles like CFO, financial manager, and partners in financial accounting firms.
  • Learn the latest skills: The ACCA curriculum provides access to the latest and most relevant industrial skills and knowledge.

• Be a part of the prestigious alumni network: Get the opportunity to join the 200,000-strong ACCA alumni network.

• ROI: Get value for money by enrolling in an ACCA accounting course. The course fees range between ₹2-4.5 lakhs.

• Continuous learning: Remain industry-relevant and foster ongoing professional development. 

Overview of Each Course Level

The ACCA accounting course is divided into three levels, totalling 13 papers. Each builds on the knowledge from the previous one. These levels are:

• Applied Knowledge
• Applied Skills
• Strategic Professional

Applied Knowledge

It is the foundational level and is perfect for newcomers in accounting. It covers the basics and gives you a solid understanding of financial and management accounting.

The level comprises three papers:

• Business and Technology (BT): How businesses operate, the role of IT, and the impact of the external environment.

• Management Accounting (MA): Key management accounting concepts, including planning, budgeting, and decision-making.

• Financial Accounting (FA): Fundamental principles of financial accounting, how to prepare financial statements, and the importance of financial reporting.

Applied Skills

Once you’ve completed the basics, you can move on to the Applied Skills level. Here, you’ll build on your knowledge and develop advanced skills in finance and accounting.

It comprises six papers:

• Corporate and Business Law (LW): Understanding the legal framework of businesses, including contracts, employment law, and corporate governance.

• Performance Management (PM): Techniques to manage performance, costing, and budgeting.

• Taxation (TX): The basics of taxation, including income tax, corporation tax, and VAT.

• Financial Reporting (FR): How to prepare financial reports in line with international accounting standards.

• Audit and Assurance (AA): The principles of auditing, including the audit process, risk, and ethics.

• Financial Management (FM): Understanding financial management, including investment appraisal, risk management, and working capital management.

Strategic Professional Level

This is the final and most advanced level of the ACCA course. Here, you’ll develop strategic and advanced professional skills essential for leadership roles in finance and accounting.

This level is divided into mandatory and elective subjects:

• Mandatory Subjects

• Strategic Business Leader (SBL): A comprehensive case study approach that integrates various aspects of business leadership and strategic decision-making.

• Strategic Business Reporting (SBR): Advanced skills in financial reporting, focusing on complex financial reporting issues.

• Elective Subjects (Any 2)

• Advanced Financial Management (AFM)

• Advanced Performance Management (APM)

• Advanced Taxation (ATX)

• Advanced Audit and Assurance (AAA)

Depending on your chosen subject, you will learn in greater depth about any of the above-advanced topics.

Ethics and Professional Skills Module (EPSM)

Above and beyond the three levels, you must also complete the EPSM. This module focuses on developing your ethical judgment and professional accounting skills.

Exam Structure and Timing

Exam Sessions: ACCA exams are held four times a year—in March, June, September, and December.

Exam Format: The exams are a mix of CBT (computer-based tests) and written formats. Applied Knowledge exams are computer-based, while the higher-level exams can be both computer-based and paper-based.

Passing Marks: You must score at least 50% in each exam to pass.

How Long Does It Take to Become an ACCA?

The answer to this question varies greatly depending on your prior qualifications and the time you can dedicate to studying. On average, it takes around 3-4 years to complete all the levels and the required professional experience.

Below is a table detailing ACCA exemptions in greater detail:

Qualification	Papers You Must Appear For	Exemptions	Duration
10+2 / Undergraduate	13	0	2.5-3 years
Commerce Graduates/M.Com	9	4	2-2.5 years
CA Inter	7	6	1.5-2 years
CA/CMA	4	9	1-1.5 years

 

Practical Experience Requirement (PER)

Simply clearing each level won’t earn you the ACCA credential. You must also complete a Practical Experience Requirement (PER), which involves three years of relevant work experience. You can start on this while prepping for the exam. This way, you would save precious time and gain professional experience, helping you transition from learning to applying smoothly. 

Final Thoughts

The ACCA accounting course is undoubtedly a challenging qualification but also immensely rewarding. If you want a global accounting career, ACCA is the right call. Enrolling in ACCA can be the next big step for you if you are seeking opportunities in finance, business or accounting.

FAQs

• Is ACCA full of accounting?

ACCA is much more than just accounting. In addition to financial and management accounting, it imparts knowledge in various topics, such as taxation, financial management, strategic management, and corporate governance.

 

• Is ACCA a stressful job?

Being an ACCA can be stressful, but the amount of stress depends on many factors. Some of these include your company’s size, position, and work habits.

• Can I finish ACCA in 1 year?

You can finish ACCA in one year if you have three years of prior work experience and are a qualified CA or CMA.