What is ACCA: Everything About ACCA Course

There are many courses of education out there. Among the plethora of choices, ACCA is one of the best choices you can make. That said, what is ACCA? What are the subjects within this course? And what is the scope of this course? Well, ACCA is essentially a global accounting qualification. This course covers a detailed curriculum covering areas such as financial accounting, management accounting, taxation, audit, and more. It is a qualification that requires passing a series of exams and completing practical requirements. This is just a general gist of what an ACCA course is.

In this blog, we discuss the details of what is ACCA course including the eligibility, subjects, exam details, and career prospects. So, with this in mind, let's get started.

About ACCA Course

ACCA stands for Association of Chartered Certified Accountants. As mentioned earlier, it is a globally recognized professional accounting that offers the Chartered Certified Accountant qualification (ACCA or FCCA). These qualifications are recognized and respected worldwide, providing opportunities for accountants to work in various industries such as public practice, industry, commerce, and the public sector. This course offers a wide range of courses associated with accounting.

Furthermore, the ACCA course is recognized in over 180 nations, making it one of the most globally respected accounting qualifications. This recognition opens doors for accountants to work in various nations and sectors worldwide. Furthermore, during this course, to graduate from this course, you need to complete practical experience requirements. This hands-on experience ensures that as an ACCA member, you not only have theoretical knowledge but also practical experience as well.

Overall, ACCA courses provide you with a pathway to become qualified professionals with the skills, knowledge, and values needed to succeed in accounting and finance.

ACCA Course Eligibility

After knowing what is ACCA course is, you may want to know about the requirements to study in this globally accredited course. The good news here is that the entrance bar for this course is relatively low and wide. As long as you are a graduate of any education course, you can easily enroll in ACCA courses. The specific ACCA course eligibility is as follows:

SEE Completion
+2 Result Awaiting Students (Any Stream)
+2/ A-Level Qualified Students (Any Stream)
BBS/BBA Graduation
MBS/MBA/EMBA Graduation

ACCA Course Structure

After the eligibility criteria, the next aspect of ACAC you may want to know is the ACCA course. The course structure of ACCA is divided into three levels. These levels further contain their own subjects. The overview of this division and the subjects contained within are as follows:

Applied Knowledge Level

This level of ACCA introduces you to the core areas of financial management accounting along with the basic business and technologies. The papers at this level of ACCA include the following;

Business and Technology (BT)

BT introduces you to the business environment and the role of information systems in business operations. The topics covered in this paper include the nature and purpose of business, business organization structure, information systems, and the impact of technology on businesses.

Management Accounting (MA)

MA focuses on the role of management accounting in assisting management in planning, controlling, and decision-making. In this paper, you learn about costing methods, budgeting, variance analysis, and performance measurement techniques.

Financial Accounting

This paper covers the principles and practices of financial accounting. The topics taught in this paper include the preparation of financial statements for single entities and consolidated groups, as well as accounting for transactions such as revenue recognition, inventory valuation, and depreciation.

Applied Skills Levels

Applied skills levels are a continuation of the Applied Knowledge level. This level focuses on the application of accounting techniques in real-world scenarios. The papers at this level are as follows:

Performance Management (PM)

This paper builds on the management accounting concepts and focuses on performance measurement and management techniques. The topics in this paper include performance measurement frameworks, budgeting, variance analysis, and performance evaluation.

Corporate and Business Law (LW)

This paper covers the legal framework in which the business cooperates. While studying this paper, you learn about the various legal concepts related to business including contract law, company law, and employment law.

Taxation (TX)

TX covers the principles and practices of taxation. The topics taught in this paper include the taxation of individuals and businesses, as well as the calculation of income tax, value-added tax (VAT), and corporation tax.

Financial Reporting (FR)

This paper extends the knowledge you gained in FA. In this course, you learn about the preparation and presentation of financial statements as per the internal accounting standards, along with the accounting treatment of complex transactions.

Audit and Assurance (AA)

AA teaches you the principles and practices of auditing and assurance services. The topics in this paper include the audit process, audit planning, internal controls, audit evidence, and auditors' reports.

Financial Management (FM)

FM explores the principles and techniques of financial management. In this paper, you learn about financial decision-making, investment appraisal, risk management, and working capital management.

Professional Level

The professional level is essentially a step up from the previous two levels, and in this level, you learn about the complex aspects of ACCA. The papers at this level are divided into two categories: Essential and Optional.

Essential

This includes papers that you must attend if you wish to complete the course of ACCA. There are two appears in this category, and they are as follows;

Strategic Business Reporting (SBR – INT): This paper focuses on the application of knowledge and understanding of accounting principles in the preparation of financial statements, and the interpretation and communication of financial information.
Strategic Business Leader (SBL): This paper integrates various areas of the syllabus and requires students to demonstrate their ability to make strategic decisions across a range of business scenarios.

Optional

These are papers where you can choose your preferred papers. There are four papers in total, and to graduate from the ACCA course in Nepal, you must choose two papers. The optional papers are as follows:

Advanced Audit & Assurance (AAA – INT): This paper builds on the knowledge gained in the Audit and Assurance paper at the Applied Skills Level and covers more advanced topics in auditing and assurance services.
Advanced Performance Management (APM): This paper focuses on advanced management accounting techniques and their application in strategic business contexts.
Advanced Taxation (ATX – UK): This paper covers advanced taxation issues and requires students to apply their knowledge of taxation principles to complex scenarios.
Advanced Financial Management (AFM): This paper explores advanced financial management techniques and their application in strategic decision-making.

This is the basic overview of the course and what you can expect from ACCA.

ACCA Exemptions

Another key aspect of ACCA is exemptions. ACCA offers exemptions to commerce graduates. These are essentially credits given based on your previous academic qualifications or professional certifications. Postgraduates, Inter CA students, and CA-qualified students. If you have just graduated from +2, then sadly, you would not qualify for the exemptions. However, the good news is that you can still register for the ACCA exam through the Foundation in Accounting (FIA).

The various aspects of ACCA exemptions are as follows:

Students with just graduated from the 12th exam must appear in all of the ACCA exams
Commerce graduates with B.Com can gain up to 5 exemptions for ACCA exams.
CA IPPS candidates can get exemptions for 5 ACCA exams.
CA candidates may get exemptions from 9 ACCA exams.
These are some of the exemptions that you can get based on your education qualification levels.

ACCA Exam Details

Along with the course details and exemptions, you may also want to know the exam details of this course. Well ACCA organizes its exam four times a year. It offers you the flexibility to appear in the exam at your convenience. The exams are held in March, June, September, and December every year.

The patterns for modules at each level are different. That said, there are common elements among all of these exams. Some of the common aspects of exams are as follows:

Each exam has two sections
Section A comprises of objective question
Section B consists of long pattern questions
The papers have 100 marks per module
You must get 50% to pass
There are no negative markings for wrong answers

Along with the exam, you are also tested on whether or not you have the following skills:

Mathematics skills
Professional ethics
Creativity
Accounting skills
Global mindset
Decision Making skills
Analytical skills and critical thinking
Communication skills

This is the overall gist of examinations for the ACCA course.

Reasons to Pursue ACCA in Nepal

Now after knowing the overall gist of what an ACCA course is and about its exam, some of you may still need some reasons to pursue ACCA. Some of the key reasons to pursue ACCA are as follows:

ACCA is recognized and respected worldwide, which opens doors to a wide range of career prospects and enhances employability.
ACCA equips you with a diverse range of skills covering areas such as financial accounting and corporate governance, allowing you to pursue careers in different sectors.
It offers a structured pathway for career progression.
There is a high demand for accountants with ACCA credentials across the globe.
ACCA offers flexible study options which allow you to balance your studies with work and other commitments.
ACCA places a strong emphasis on ethical behaviour and professionalism, which develops your ethical conduct.
ACCA provides networking opportunities through events, seminars, and online communities.

All in all, ACCA offers you a rewarding and dynamic career in accounting finance and provides you with the knowledge, skills, and credentials necessary in the modern business environment.

People Who Pursue ACCA

Now that you know why you should pursue ACCA, you may also want to know who should pursue ACCA. The simple answer is that anyone who meets the qualifications and wants a career in accounting can pursue this course. That said, some of the key personnel who can pursue this course are as follows:

ACCA is suitable for individuals aiming to pursue a career in accounting, auditing, finance, or taxation.
It is also suitable for those looking for a globally recognized qualification in accounting and finance.
It is also suitable for working professionals.
This course is also suitable for people who are looking for career progressions in accounting and finance.
This globally recognized course is also ideal for entrepreneurs and business owners as it provides financial management, compliance, and strategic planning.
ACCA is also ideal for professionals who wish to expand their network.

These are some of the key types of personnel for whom the ACCA course is ideal. That said, as mentioned previously, just about anyone who has had a high school level education can pursue this course.

Career Prospect of ACCA

By now, you know what is ACCA course, the eligibility criteria, and the reasons to pursue this course, along with the types of people for whom ACCA is ideal. But is it worth the effort? The simple answer is yes. There are many career prospects that you can enrol in after the ACCA course, which makes it worth the effort. Some of the career prospects of ACCA are as follows:

Accounting and audit roles
Financial management
Consultancy
Corporate finance
Taxation
Risk management and compliance
Entrepreneurship
Academia and education

These are some of the areas where you can enhance your career as a graduate of ACCA.

Conclusion

ACCA is a globally recognized professional accounting body and it offers chartered accountant qualifications. The eligibility criteria of this course are low enough for anyone interested in this course, and there are many reasons why this course is worth the effort of enrolling in ACCA.

In this blog, we discussed what is ACCA course and its various aspects. We hope you found this helpful. If you want further insights into the various aspects of ACCA, do check out some of our other blogs. And if you want the best ACCA college in Nepal, feel free to contact Seekshya Academy. Thank you for reading till the end.

FAQs on ACCA Course

What exactly does an ACCA do?

ACCA is a membership body that accredits and supports professional accounts all over the globe.

What is the ACCA qualification?

The ACCA (Association of Chartered Certified Accountants) qualification is a globally recognized professional accountancy certification. It involves passing 13 exam papers covering topics like financial accounting, auditing, and taxation, as well as gaining relevant practical experience. Completing the ACCA qualified individuals to become chartered certified accountants.

Is ACCA very hard?

The difficulty can vary depending on your individual strengths, approach, and prior experience. That said, studying ACCA does require dedication and perseverance.

How many years is ACCA?

The ACCA course requires a minimum of three years of full-time equivalent supervised training.

How many hours of study for ACCA?

The specific depends on your comprehension level and approach but the recommended hours of study is eight hours per week.

Can I do CA after ACCA?

Yes, you can. You can take up the CA final after completing the ACCA course.

How many levels are in ACCA?

There are three levels in ACCA which are made of 13 ACCA papers across these levels. These levels are as follows:

Applied Knowledge
Applied Skills
Professional

Is ACCA in demand?

Yes, ACCA is in high demand across the globe as there is a constant need for accounting and finance professionals, and this need is on the rise.