ACCA qualification is fast climbing the popularity charts as a highly sought after degree for students to build a great career in the field of finance and accounting. Students have started their ACCA journey right after completing their class 10th.
ACCA with its in-depth curriculum, application mindset, active support from the governing body is a degree that is not only recognized in 180+ countries but is becoming a preferred choice amongst student groups and communities.
A lot of students who have completed their graduation are also eager to join the programme. Through this article we will try to address questions that they have before in terms of the roadmap going forward.
Step No 1 – Check Eligibility for no. of exemptions
Students after completing their graduation, can get started with the ACCA qualification. Students who have completed their graduation are eligible for exemption for ACCA papers as under –
B. Com / BAF / BBI – These students are eligible for exemptions for 4 out of 13 ACCA papers, which means that students must clear only 9 papers (5 Applied Skills Level and 4 Strategic Professional Level) to complete the ACCA qualification. The subjects that are exempt are as under –
- Business & Technology (BT), Financial Accounting (FA) and Management Accounting (MA) from Applied Knowledge Level
- Corporate and Business Law from the Applied Skills Level
BBA / BMS – These students are eligible for an exemption for 1 out of 13 ACCA papers, which means that students must clear only 12 papers (2 Applied Knowledge Level, 6 Applied Skills Level and 4 Strategic Professional Level) to complete the ACCA qualification. The subject that is exempt Is as under –
- Business & Technology (BT) from Applied Knowledge Level
B. Com + CA Inter – These students are eligible for exemptions for 6 out of 13 ACCA papers, which means that students must clear only 7 papers (3 Applied Skills Level and 4 Strategic Professional Level) to complete the ACCA qualification. The subjects that are exempt are as under –
- Business & Technology (BT), Financial Accounting (FA) and Management Accounting (MA) from Applied Knowledge Level
- Corporate and Business Law (LW), Audit and Assurance (AA) and taxation (TX) from the Applied Skills Level
Step 2 – Plan the duration for completing the qualification
Depending on the number of exemptions that students would be eligible for, duration for clearing the ACCA qualification could be as under –
B. Com / BAF / BBI – Assuming that a student would appear for one paper every quarter, he / she would be able to complete the qualification in 9 quarters (Approx. 2 years)
BBA / BMS – If a student would appear for one paper every quarter, he / she would be able to complete the qualification in 10-11 quarters (2.5 to 3 years)
B. Com + CA Inter – If a student would appear for one paper every quarter, he / she would be able to complete the qualification in 7 quarters (less than 2 years).
Please note that the timelines provided above are the maximum timeline to complete the qualification. However, under the guidance of your faculty / mentor, it is possible to further reduce the time it would take to complete the qualification with meticulous planning and diligent execution. We would thus advise students to prepare a proper study and implementation plan to achieve their goals
Step 3 – Acquire technical skills
Irrespective of the number of exemptions that a student gets (minimum 1 to maximum 6) based on the criteria identified above, students would take anywhere between 1-2 years to complete the ACCA qualification. Generally, ACCA classes offered by different coaching institutes are weekend classes thereby, providing ample time to students during the week to acquire technical skills which are in demand with corporates. Some such skills include Advanced excel, financial modelling, data science, analytics, foreign language etc. This would be an effective way for students to improve their skills, become more employable, enhance credibility, and differentiate themselves from their peers.
Step 4 – Build your Resume
To apply for a job, it is important for a student to complete their graduation. Thus, it is important for students to sit with their mentors to review their resume, identify gaps and plan the next steps accordingly.
Step 5 – Get started with Internship / Job
Based on a combination of completion of graduation, having practical skills and pursuing ACCA, students are likely to get good jobs and as a result start the process of gathering working experience. Please note that for a student to become an ACCA member, post completing the ACCA qualification, he / she needs to fulfill the 3 years (36 months working experience criteria) as well. Along with working experience, it is highly advisable that students prepare for one exam per quarter and by the time they would complete their qualification, they would have anywhere close to 18-24 months of working experience as well.
Reputed institutes such as The WallStreet School work closely with students to balance aspects of pursuing a degree, acquiring technical skills, and working experience as well.
Step 6 – Get onto LinkedIn
This must be a “No Brainer”. If there is one skill that students need to nurture, then it must be Networking. Get on to LinkedIn as early as possible, be there, interact, engage, grow your network, and make your presence felt. Please be aware that in the current scheme of things, you would need to add a link to your LinkedIn profile on the first page of your resume. Before an interviewer would be ready to meet you, he / she would generally visit your LinkedIn profile to understand more about you and your activities. Students who are physically present on LinkedIn and otherwise absent, do not be surprised if you do not receive an invite for an actual interview to discuss your candidature forward.
A lot of students come to discuss their career roadmap after completing their graduation and one common behaviour that I have observed amongst most of them is that all of them are worried about their career and have a common fear of having missed the bus. Having gone through all the grind over the last 2+ decades, you have not missed the bus by any means. All you need are few things as under –
- A good mentor
- A plan that is relevant for you (not a generic plan that novice mentors share with you)
- Inspiration to focus on smart, diligent, and consistent work and efforts
- High cadence of accountability and a specific monitoring plan
