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ACCA Full form and Other Deep Details about ACCA

ACCA full form is The Association of Chartered Certified Accountants, is a globally recognised certification recognised in more than 200 countries. Now unless you came to read this article only to know the ACCA full form then the buck stops here. However, I would highly recommend you to read my full piece on the ACCA and its real use, reputation and jobs in India.

ACCA Full form

ACCA Full form & Are you eligible?

Now, ACCA Full form I have already discussed but you might wonder why is ACCA even there in India? The answer is that ACCA has gained popularity as a course in India for two reasons;

  • High number of CA candidates not passing the CA exam
  • No Alternative options in accounting education
  • Rise of large number of accounting work that gets outsourced to India

There are about 60,000 students who start with their CA preparation every year, while only 2% actually become a CA. That means around 1200 CA’s every year. Also, the fact that CA preparations can start as early as during graduation after class XII.

ACCA Course Eligibility

So, ACCA course eligibility is very simple, you can start as fast as after class x and as late as after completing your post graduation.

Pursuing ACCA: Benefits and Opportunities

Pursuing ACCA can open a plethora of job opportunities globally. The ACCA professional qualification not only equips students with comprehensive knowledge in accounting but also enhances their skills in areas like ethics and professional skills. ACCA students benefit from a curriculum that balances knowledge, skill, and professional level subjects, preparing them for high-level roles in accounting and finance. The ethics and professional skills module, a crucial part of the ACCA curriculum, ensures that graduates are not just technically proficient but also adhere to the highest ethical standards.

ACCA Exemptions and Career Prospects

One of the significant advantages of the ACCA qualification is the exemption policy. Depending on prior qualifications, students can be exempted from certain exams, making the path to becoming a chartered certified accountant more efficient. These exemptions are designed to recognize the previous learning and qualifications of students, allowing them to focus on advanced topics that build on their existing knowledge. A career in accounting with ACCA is versatile and rewarding, offering opportunities in various sectors such as public practice, corporate finance, and financial services, among others.

ACCA Course Duration & Fees

Now there is no absolute accurate time line to complete the course. However, I will briefly categorise the ACCA duration from different starting points.

ACCA After 12th

  • After completion of your higher secondary exam, you will take approximately 2.5 to 3 years to complete 13 exams. Post the completion of 13 paper, you will need another 3 years of relevant experience to become a charter. After finishing 12th grade, you will take 3 papers for the knowledge exams, which are scheduled based on demand.
  • The three papers in foundation level are foundation in accounting or accountant in business, management accounting and financial accounting i.e F1,F2 & F3
  • After you complete the foundation level, you will be appearing for skill level, however you can appear for only 8 distinct exams in a year in the acca certification. Which means that if there are total of 13 papers, then by graduation you should be done with the accounting qualifications.

ACCA course duration After Graduation

Now let me quickly look at the acca course duration after bcom

  • Now, acca after graduation has certain benefits like exemptions of 4 papers. Namely F1,F2,F3 & F4.
  • So you need to complete total of 9 exams with the maximum cap limit of 8 exams per year. However, you also need to understand that these exams are only conducted 4 times a year.
  • Son realistically, acca course duration after boom should be around 2 years.

ACCA Fees

  • If you start after class 12th then you first include the registration 34 Pounds plus 134 Pounds of annual subscription fee.
  • Each exam of knowledge level will cost around:£84 x 3= £252 or approximate around INR 27000.
  • Each Exam of skill level will cost you around $150 per exam, so total is £450. Or around iINR 50,000
  • Finally the professional level or Strategic level as they say will cost £252 x 3+ £74(ethics)=£830. Or around INR 87000.
  • Consider that each training paper requires around INR 20,000 as training fees, in case you opt for one.

Now let me summarise the acca cost basis where you start,

  1. After Class 12th, the total cost would be K- level exams= INR 27000, Skill level = INR 50,000, strategic level = INR 87000. Hence exam cost = INR 1,62,000 & Training fees around 3.5 Lacs INR. Which totals to INR 4.8 Lacs
  2. After Graduation it would be INR 50,000 For skill level exams, iINR 87000 For strategic level and the exemptions fees of INR 27000 For knowledge level . Making the cost almost similar

When Can you start with ACCA?

  1. Hence, ACCA also can be started right after your class XII.
  2. Another requirement is; you must have atleast 65% in accounting, maths and English
  3. Finally you need minimum 50% in all the other subjects in class XII

acca exemptions

ACCA Entrance Exams

ACCA doesn’t really have any entrance exams but has minimum elgibility requirements. In fact, for that matter even CA doesn’t have any entry requirements. Unless you are entering after class XII through CPT.

  • 10+2 / India School Certificate / Intermediate Certificate / Higher School Certificate / Higher Secondary Certificate / Pre-University Course / Intermediate Public Examination
    • (providing passes are held in 5 subjects (at least 3 in Year XII) including English and Mathematics / Accounts, mark of 65% in at least 2 subjects and over 50% on the others)
    • (For the Higher Secondary Certificate the marks are out of 200, so over 130 meets the 65% requirement and over 100 meets the 50% requirement.)
    • Below is a breakdown of the grades in terms of percentage and actual grade.
    • 50%-60% = Satisfactory = C1
    • 60%-70% = Good = B2
    • 85%+, 80%-85%, 70%-80% = A1–A2, B1
  • All India Senior School Certificate/ Senior School Certificate /Senior Secondary School Examination
    • (providing passes are held in 5 subjects including English and Mathematics / Accounts, mark of 65% in at least 2 subjects and over 50% on the others)

ACCA Syllabus in Detail

ACCA SyllabusSubjects
Knowledge LevelBusiness and Technology (BT)

Management Accounting (MA)

Financial Accounting (FA)
Skill LevelCorporate and Business Law (LW)

Performance Management (PM)

Taxation (TX)

Financial Reporting (FR)

Audit and Assurance (AA)

Financial Management (FM)
Professional levelEssentials

Strategic Business Reporting (SBR – INT)

Strategic Business Leader (SBL)
Optional (2 of 4)

Advanced Audit & Assurance (AAA – INT)

Advanced Performance Management (APM)

Advanced Taxation (ATX – UK)

Advanced Financial Management (AFM)

ACCA Exam Strucuture

So, firstly all of the ACCA exams are conducted online in CBE format.However you must note that not all exams are available all the time. Some of the exams are based on the set calender schedule.

ACCA ExamExam nameExam type
ACCA QualificationBT, MA, FAOn-demand
 LW (UK & GLO)On-demand
 LW (other versions)Session-based
 TX, FR, PM, FM, AASession-based
 SBR, SBL, AFM, APM, ATX, AAASession-based
Foundations in AccountancyMA1, FA1, MA2, FA2On-demand
 FBT, FMA, FFAOn-demand
 FAU, FFM, FTXSession-based

Top Colleges- ACCA College Integrated Programs

So, ACCA many years back also integrated their regular degree based courses with the ACCA syllabus. Also the objective of doing that, was to increase the level of learning for students. Now, I will warn you certain things which you know about the top ACCA colleges program;

  • ACCA intergrated programs, grants you exemption but the exemption is not free and is chargeable.
  • Secondly the ACCA top college programs grant you exemption, also on clearing the exams of B.COM. Which by the way is nothing but the ACCA papers itself.
  • Thirdly, if you opt for the ACCA college based programs and change your college or drop it then your application to ACCA drops too.

Comparison of ACCA with Other Qualifications

So, now its time to check the credibility of the ACCA course in comparison with other qualificaitons.

ACCA Vs Other Qualificatiojs

So, now let me take you through the comparison between the three major qualfications apart from ACCA i.e CA, CS & CPA.

ParametersAssociation of Certified Charted AccountantsCA- ICAICompany SecretaryCPA
Fees2,50,0002,50,00050,0004,00,000
Recognition200 CountriesIndiaIndia200 Countries
Entry level salary3.5 Lacs P.A6 Lacs P.A4 Lacs P.A5 Lacs P.A
EligibilityClass XIIClass XIIClass XIIPost Grad
Examination TypeMCQ – 13 CBE BasedRelative3 Examinations4 Papers

ACCA Salary

So, ACCA salary is misinformed in many websites. While I have covered an entire article on debunking the ACCA salary myth. However, for the sake of information you must know that the average entry level ACCA salary is around 3.5 Lacs P.A for freshers.

ACCA Salary in India

on deeper analysis let me give you a quick comparison of fresher salaries in case of CA & ACCA while specifically look at the big fours.

ACCA salary in big four

Conclusion

So, to conclude I would say that ACCA is a qualification that must be pursued by candidates who are not seeking a job in India. Yes! You heard that exactly right. The reason I say, is that until today nor in the future it is next to impossible for any other qualfications. Like ACCA to compete with ICAI’S CA Program.

However, in the middle east, U.K, to certain extent Australia also regard ACCA as a credible qualification.

Frequently Asked Questions Regarding ACCA full form

What is the ACCA Full form?

ACCA full form stands for Association of Certified Chartered Accountants from U.K

Is the ACCA program very expensive?

The ACCA program cost is comparable to qualfications like CA or CFA. The total cost is around 2.5 Lacs

Is ACCA program difficult?

Generally comparing to qualifications like CA, the passing percentage is higher at around 6%.

Is ACCA accepted in India?

The short answer is no, in terms of signing authority. Only CA has the statutory provisions to avail that power.

What is the salary of ACCA course in India?

Entry level candidates can expect to start at a starting salary if around 4.5 Lacs  P.A.

What is BCOM ACCA full form?

There is no such thing as a bcom acca, however there are many colleges that offer an integrated course which includes the ACCA program.

How long does it take to complete ACCA after bcom?

It usually takes around 2 years to complete acca after bcom, considering that you give 4 exams per year.

What is the full form of ACCA?

Firstly, the full form of ACCA is association of certified chartered accountants, an accounting qualification from U.K.

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