An Exceptional Opportunity Through Financial Support and Academic Reward to aspiring finance professionals. Hatched from the notion of relieving some manner of financial burden, a scholarship now permits students to concentrate more on the success of their ACCA journey. Let’s dig into the key details about this scholarship: eligibility, application process, and what it covers.
About ACCA Scholarship 2024
The ACCA Simpson Scholarship is the most prestigious award offered annually by the Association of Chartered Certified Accountants (ACCA). This scholarship is named after Muriel Simpson FCCA and recognizes academic excellence and commitment to the ACCA qualification. Each year, five students who have excelled in ACCA exams receive financial support to complete their remaining ACCA papers.
The scholarship is not only intended to assist financially but also aims to encourage professional growth, helping recipients unlock their potential in the field of accounting and finance.
Key Deadlines:
- Opening Date: April 15, 2024
- Closing Date: June 21, 2024
- Winner Announcement: August 23, 2024.
Eligibility for Applying for ACCA Scholarship 2024
To qualify for specific opportunities within the ACCA program, candidates must fulfill several registration and exam performance criteria. Below is a detailed breakdown of these requirements:
Registration and Fee Payment:
- ACCA Student Registration: You must be actively registered as an ACCA student.
- Fee Status: There should be no outstanding fees at the time of consideration.
- Advance Payment: Fees for the upcoming year must be fully paid.
Exam Performance Criteria:
- Applied Knowledge Exams:
- Performance: Achieve an average of 80% or higher.
- Attempt: This score must be obtained on the first attempt.
OR
Alternative Criteria with Exemptions:
- Applied Skills Exams:
- Performance: Achieve 66% or higher in a minimum of two exams.
- Attempt: Scores must be obtained at the first attempt.
- Exemptions: Only applicable if you have exemptions from the Applied Knowledge exams.
| Criteria | Requirement |
|---|---|
| ACCA Student Status | Must be registered |
| Fee Payment | No outstanding fees; payment made for the next year |
| Exam Performance (without exemptions) | 80% average at first attempt in Applied Knowledge exams |
| Exam Performance (with exemptions) | 66% in at least two Applied Skills exams at first attempt |
How to Apply for an ACCA Scholarship?
The process for applying is straightforward but requires attention to detail:
- Prepare an Essay: Write a 1,000-word essay explaining how the scholarship will help you achieve personal and professional goals.
- Submit Documentation:
- Completed application form.
- Two references were submitted directly to ACCA by your referees.
- Income statements, if applying under financial need considerations.
3. Online Application: Submit your application through the ACCA portal by the deadline.
Ensure all documents are accurate and complete to avoid delays or rejection.
What Happens in the Next Step?
Once the application period closes, a panel of ACCA professionals reviews all submissions. They evaluate applications based on:
- Essay quality and alignment with scholarship goals.
- Academic performance and financial need, if applicable.
- Career aspirations and community involvement.
Selected candidates will be notified via email. The scholarship covers exam fees, student subscription fees, and membership admission fees for up to five years or until the student becomes a member. Additionally, recipients receive learning materials for each paper from ACCA’s content partners.
What is Included in the ACCA Scholarship 2024?
The ACCA Scholarship provides comprehensive financial support:
Covered Costs:
- Exam fees for ACCA papers.
- Annual student and affiliate subscription fees.
- Membership admission fees upon completion of all exams.
Learning Materials: Recipients receive study guides and other materials from approved content providers.
- Note: The scholarship does not cover general living expenses or the annual membership subscription fee after becoming a full ACCA member.
Conclusion
The ACCA Scholarship 2024 can turn out to be a great chance for the students to complete professional accounting qualifications without any burden on their finances. Proper planning, articulation of clear career goals, and impressive academic performance can enhance the chances of a prestigious award. Apply well in advance, though, meeting all the requirements, to take full advantage of such a big career-defining opportunity.
ACCA Scholarship FAQs
What is the ACCA Simpson Scholarship?
The Simpson Scholarship provides financial support for ACCA students by covering exam fees and other costs associated with completing the qualification.
Who is eligible for the ACCA Scholarship in 2024?
Registered ACCA students with a history of excellent exam performance and no outstanding dues are eligible to apply.
How can I apply for the ACCA Scholarship?
Applicants must submit an essay, provide references, and complete the online application by the June 21, 2024 deadline.
What does the scholarship cover?
The scholarship covers exam fees, subscription fees, and membership admission fees but does not include the annual membership fee after becoming a full member.
When are winners announced?
The winners of the ACCA Scholarship will be announced on August 23, 2024.
