ACCA FAQS

ACCA FAQS: Key Questions and Answers

1. What is ACCA?

ACCA is a globally recognized professional accountancy qualification offered by the **Association of Chartered Certified Accountants**. It equips individuals with skills in financial accounting, management accounting, taxation, audit, and business leadership, enabling them to work in various finance and business roles worldwide.

2. Who can pursue ACCA?

To start ACCA, you typically need:

• A minimum of **2 A-Levels and 3 GCSEs** (or equivalent) in five subjects, including English and Mathematics.
• Alternatively, a degree or relevant work experience may qualify you.

No prior accounting knowledge is required, but specific entry requirements vary by country. Check ACCA’s official website for country-specific criteria.

3. How long does it take to complete ACCA?

The ACCA qualification typically takes **3–4 years** to complete, depending on your study pace and prior qualifications. This includes:

• Passing **13 exams** (some exemptions may apply based on prior education).
• Completing **3 years** of relevant practical work experience.
• Completing the Ethics and Professional Skills module.

4. What are the ACCA exam levels?

ACCA exams are divided into three levels:

• **Applied Knowledge:** 3 exams (Business and Technology, Management Accounting, Financial Accounting).
• **Applied Skills:** 6 exams (Corporate and Business Law, Performance Management, Taxation, Financial Reporting, Audit and Assurance, Financial Management).
• **Strategic Professional:** 4 exams (2 compulsory: Strategic Business Leader and Strategic Business Reporting; plus 2 optional from 4 choices).

5. How much does ACCA cost?

Costs vary by region and study method (self-study, tuition providers, etc.). Key expenses include:

• **Registration fee:** Approximately **£89** (one-time).
• **Annual subscription fee:** Around **£112**.
• **Exam fees:** £100–£200 per exam (varies by level and location).
• **Study materials and tuition:** Varies widely (e.g., £500–£2,000+ depending on providers).

For precise costs, visit https://www.accaglobal.com for details.

6. Can I get exemptions from ACCA exams?

Yes, **exemptions are available** if you have relevant qualifications (e.g., a degree in accounting or finance, or other professional certifications like CIMA or CPA). You can check eligibility on ACCA’s exemption calculator at https://www.accaglobal.com.

7. What is the Practical Experience Requirement (PER)?

To become an ACCA member, you need **3 years of relevant practical work experience** in a finance or accounting role, supervised by a qualified professional. You must document 9 performance objectives in the PER logbook on ACCA’s website.

8. How are ACCA exams conducted?

Exams are **computer-based** and offered in **March, June, September, and December**. Applied Knowledge exams are on-demand in some regions, while Applied Skills and Strategic Professional exams follow fixed schedules. Exams can be taken at ACCA-approved centers or remotely in some cases.

9. What is the passing rate for ACCA exams?

Pass rates vary by exam and session but typically range from **30% to 80%**. Applied Knowledge exams generally have higher pass rates (e.g., 65–85%), while Strategic Professional exams are tougher (e.g., 30–50%). Check ACCA’s website for recent pass rate data.

10. What career opportunities are available after ACCA?

ACCA opens doors to roles like: **Financial accountant, Management accountant, Auditor, Tax consultant, Finance manager, Chief financial officer**. ACCA members work in industries like public practice, corporate finance, banking, and consulting, with global recognition in over 180 countries.

11. Can I study ACCA online?

Yes, ACCA offers flexible study options, including **self-study, online courses, and tuition** through Approved Learning Partners (ALPs). Resources like ACCA-X provide online learning for some exams.

12. What is the Ethics and Professional Skills module?

This is a **mandatory online module** focusing on ethical decision-making and professional skills like communication and leadership. It must be completed before becoming an ACCA member and typically takes 15–20 hours.

13. Is ACCA recognized globally?

Yes, ACCA is recognized in over **180 countries** and has partnerships with employers, governments, and other professional bodies. It’s highly valued in regions like the UK, Europe, Asia, and the Middle East.

14. Can I pursue ACCA alongside a degree or job?

Yes, ACCA’s **flexible study options** allow you to study part-time while working or pursuing a degree. Many students balance ACCA with full-time jobs, though time management is key.

15. How do I register for ACCA?

Register online via https://www.accaglobal.com. You’ll need to submit academic transcripts, pay the registration fee, and provide identification. Check eligibility and deadlines on the website.

16. What is the difference between ACCA and other qualifications like CPA or CIMA?

• **ACCA** focuses on global accounting, finance, and business skills, with flexibility in career paths.
• **CPA** (Certified Public Accountant) is U.S.-focused, emphasizing U.S. GAAP and tax laws.
• **CIMA** specializes in management accounting and business strategy.

ACCA is broader in scope and more globally recognized than CPA, while CIMA is more niche in management accounting.

17. What support does ACCA provide for students?

ACCA offers:

• Study resources (e.g., practice questions, study guides).
• Approved Learning Partners for tuition.
• Online communities and forums.
• Career support and networking events.
• Webinars and exam preparation tools.

18. Can I switch to ACCA from another qualification?

Yes, you can transfer from qualifications like CIMA, CPA, or a degree program. ACCA may grant **exemptions** based on prior study. Use the exemption calculator on their website to assess eligibility.

19. What are the benefits of becoming an ACCA member?

• **Global recognition** and mobility.
• **High earning potential** (e.g., ACCA members in senior roles can earn £50,000–£100,000+ annually, depending on location).
• Access to a network of 241,000 members and 547,000 students.
• Continuous professional development (CPD) opportunities.

20. How do I maintain ACCA membership?

After qualifying, you must:

• Pay an **annual subscription fee**.
• Complete **Continuing Professional Development (CPD)** requirements annually.
• Adhere to ACCA’s code of ethics and conduct.