ACCA (Association of Chartered Certified Accountants) is a benchmark qualification of finance and accounting worldwide. It is much less difficult for M Com graduates to take up ACCA as a result of the exemptions they get up to date in terms of prior educational qualifications. The ACCA exemption for MCom graduates enables them to exclude up to 9 of the 13 papers for the ACCA syllabus. Not only does this save the time needed to obtain the certification, but the time needed is also reduced, making it possible for the graduates to only study more advanced levels of the subject. The exemption amount will vary according to the curriculum of the M Com course and the extent of its congruence with the ACCA standards.
[quillforms id=”489″ width=”100%” ]
What is ACCA?
The Association of Chartered Certified Accountants (ACCA) is the forefront professional organization for accountants. Having been created in 1904, it provides the qualification of ACCA, which is globally recognized. ACCA professional has the competencies of accounting, audit, tax, financial reporting, and strategic management, making them very in-demand professionals in the international job market.
- Applied Knowledge: In this level, accounting and finance concepts are introduced. Students acquire basic topics like financial accounting, management accounting, and business principles.
- Applied Skills: By this time, candidates have become intermediate in skills needed to handle financial operations and financial reporting. It covers areas like taxation, audit, and performance management.
- Strategic Professional: This is the final stage, focusing on advanced strategic and leadership skills. Candidates must satisfy core modules (e.g., Strategic Business Leader and Strategic Business Reporting), and optional papers.
ACCA Exemptions
ACCA exemptions are a program feature that allows eligible candidates to skip specific exams based on their previous academic achievements. These exceptions are based on the fact that you already have the knowledge and skills and that it will save you the time and efforts of relearning the already learned concepts.
Exemptions are usually allowed for papers at the Applied Knowledge and Applied Skills levels. Nevertheless, all candidates need to pass the Strategic Professional-level exams, as they focus on to-date advanced topics which form an integral part of the ACCA qualification.
| Qualification | Exemptions |
| B.Com | Up to 6 papers from Applied Knowledge and Applied Skills |
| MBA | Up to 5 papers, depending on specialization |
| CA (India) | 9 papers, including all Applied Knowledge and Applied Skills levels |
| CMA (India) | 9 papers, including all Applied Knowledge and Applied Skills levels |
| M COM | 9 papers from Applied Knowledge and Applied Skills |
[quillforms id=”489″ width=”100%” ]
Why Does ACCA Offer Exemptions?
ACCA grants exemptions to facilitate the learning pathway for students with existing appropriate testamur/diploma levels. This avoids unnecessarily duplicating subjects and allows students to focus on learning and developing new knowledge and skills. The exemptions allow the qualification to be available to candidates from a variety of educational backgrounds, thereby motivating them to pursue ACCA and seek professional advancement.
Exemptions, in addition to saving time, help minimize the program cost as students no longer need to pay examination fees for exempted papers. This means that ACCA is a desirable one for professionals to upskill.
ACCA Exemptions for M Com Graduates
ACCAs provide a real advantage to M Com graduates, as it permits a maximum of 9 papers to be exempted. There is reduced time, effort, and expense needed to complete the program. Exemptions usually apply to all papers at Applied Knowledge and Applied Skills level and, candidates will only be expected to take Strategic Professional level exams.
How Many Exemptions Can M Com Graduates Claim?
The exact number of exemptions available to you depends on the contents of the M Com curriculum you are following. The case of academic setting taking in topics of financial accounting, management accounting, and business law are you to benefit maximum exemptions? Typically, M Com graduates can skip the following papers:
| ACCA Level | Papers | Exemption for M Com |
| Applied Knowledge | Business and Technology (BT) | Exempt |
| Management Accounting (MA) | Exempt | |
| Financial Accounting (FA) | Exempt | |
| Applied Skills | Corporate and Business Law (LW) | Exempt |
| Performance Management (PM) | Exempt | |
| Taxation (TX) | Exempt | |
| Financial Reporting (FR) | Exempt | |
| Audit and Assurance (AA) | Exempt | |
| Financial Management (FM) | Exempt |
How to Determine Your Exemptions?
ACCA makes an Exemptions Calculator available online on its homepage. Entering your country, university and qualification allows you to know which papers you don’t have to sit instantly. Therefore, it is essential to verify this prior to enrolling in the programme, to gain an understanding of your route and accordingly plan.
Can I Claim Exemptions at Any Time?
Yes, you can make exemptions now either at the point of registration or during your ACCA study. Nonetheless, exemptions are advisably applied for as long as possible. This helps you understand your pathway better and avoids unnecessary delays. To apply for exemptions, you should provide corresponding documents such as degree certificates, transcript and course syllabus. ACCA shall assess your application to decide if you fulfil the criteria for exemption. If approved, it will be required to pay exemption fees prior to completion of the program.
How to Apply for ACCA Paper Exemptions?
Applying for ACCA exemptions is a straightforward process. Follow these steps to ensure a smooth application experience.
- Register on the ACCA Website: Implement an account in the ACCA website and finish the registration procedure.
- Submit Academic Documents: Upload scanned copies of your degree certificates, transcripts, and course syllabi. These documents must clearly outline the subjects you studied and the marks you received.
- Use the Exemptions Calculator: Before submitting your application, please make use of the Exemptions Calculator to check your exemption entitlement.
- Pay the Exemption Fee: When your application is checked and approved, the exemption fee needs to be settled. These fees are per paper and depend on the stage.
- Receive Confirmation: After processing your payment, ACCA will confirm your exemptions and update your student profile accordingly.
Applying these steps makes it possible to file for exemptions quickly, and then start to embark on the ACCA course.
Benefits of These Exemptions
Exemptions for members of the Association of Chartered Certified Accountants (ACCA) from the requirements for MCom graduates are of many potential benefits as the qualification becomes increasingly attractive to those embarking on a career in accountancy. The following advantages illustrate why exemptions are a beneficial program component.
- Time Efficiency: Exemptions decrease the number of exams you must sit, and thus you can finish the qualification more quickly.
- Cost Savings: If you do not take the exams, you can save money on exam fees and study books.
- Focus on Advanced Topics: Excluding foundational exams, it is possible to focus on the high level concepts as part of the Strategic Professional level.
- Recognition of Prior Learning: The exemptions will validate your MCom and will also acknowledge the skills that you have already learnt.
- Enhanced Career Opportunities: Achieving exemptions in ACCA from the demands gives you a highly recognised professional status, which will make you eligible for international job placements.
Are There Fee Waivers?
Although ACCA does not implement full fee waivers, it does offer proffered cost reduction opportunities. For instance, registration fees for ACCA are often waived during promotional events, or program fees may be partially funded by scholarships. Some employers also sponsor ACCA fees for their employees, especially in industries that value professional certifications.
In order to be informed about fee waivers and discounts, it is worth while checking the ACCA website, or speaking with an ACCA-registered learning partner.
ACCA Exemptions for MCOM FAQs
How many ACCA exemptions for MCom graduates claim?
M. Comgraduates are entitled to as many as 9 exemptions, which apply to all papers (Applied Knowledge and Applied Skills levels).
Can B.Com graduates also claim ACCA exemptions?
Yes, B.Com graduates can claim up to 6 exemptions, depending on their university curriculum.
What documents are required to claim exemptions?
To claim exemptions, you are required to submit your M Com degree certificate, transcripts and a complete syllabus of your course.
Do ACCA exemptions require additional fees?
Yes, ACCA charges a fee for each exemption. These fees are lower than the corresponding exam fees.
Are exemption fees refundable if the application is rejected?
No, exemption fees are non-refundable, so please check the eligibility criteria prior to applying.
