To start off with the journey of becoming an ACCA (Association of Chartered Certificate Accountants), the candidates will be expected to get in-depth knowledge of the topics related to finance, accounting, and management. ACCA-qualified professionals are globally recognized by employers from well-renowned companies. If followed well by the steps mentioned in this article, the candidates can have a smooth process with all the necessary information.
What is ACCA?
ACCA full form is Association of Chartered Certified Accountants. It is a globally recognized course in accounting, finance, and business management. ACCA gives a path for people to get qualified as accountants, providing a detailed curriculum covering various topics, including financial accounting, management accounting, taxation, etc.
The ACCA course is well-designed and has several levels and modules. Each level consists of various exams the candidate needs to qualify for the associated exams. ACCA candidates are also expected to clear the practical experience requirement (PER), under a qualified mentor’s supervision.
ACCA’s acceptance globally makes it well-recognized and attractive for employers to recruit good candidates. The scope of employment is quite vast and spread across various sectors. It stressed the ethical standards to be followed along with the professional values.
How to Become an ACCA Professional
Becoming an ACCA-qualified professional is a dream come true for many aspirants, as it opens the door for good career opportunities in the domains of accounts and finance. It promises a good career with a lucrative salary as well. Below are the steps to becoming an ACCA.
Research and Understand ACCA
The first step is to find out about the exam in general. Before starting this journey, information regarding the required qualifications, reputation, and global recognition must be gathered. The more informed the candidate is, the better his journey in this exam.
Check Eligibility
Once the eligibility is known, the candidate should check whether he/she qualifies for the exam. English is the mode of communication for most countries worldwide, and thus, a course with great global opportunities, the candidate must be very proficient in this language. For other details please refer to the article on eligibility of ACCA.
Register as a Student
Once the eligibility criteria are verified by the candidate, the next step is to register for the course. There are several steps to be followed in this, which also require personal details. And so, the candidate is expected to keep all the necessary documents handy in case of emergency.
Plan Your Study
The ACCA course is very demanding, so a lot of dedication is needed to complete it. There are several subjects as well, which are from the accounting and finance field, which will require regular practice. However, it is a self-paced study, which the student can complete at his pace and clear all the necessary exams one after the other.
Pass ACCA Exams
Prepare diligently for ACCA’s rigorous exams covering various topics, including financial accounting, management accounting, taxation, and strategic business management. Each ACCA level comprises multiple modules, with exams held at designated centers worldwide. Utilize past exam papers, revision kits, and mock exams to assess your readiness and improve your exam technique.
Gain Practical Experience
In addition to passing exams, ACCA requires candidates to complete a practical experience requirement (PER). Gain relevant work experience in finance, accounting, or related fields under the supervision of a qualified mentor. ACCA values practical skills and professional competence, emphasizing real-world application alongside theoretical knowledge.
Apply for Membership
Apply for ACCA membership upon completing exams and fulfilling the practical experience requirement. Your membership signifies your status as a qualified ACCA professional, recognized globally for your expertise and professionalism. Enjoy exclusive benefits such as networking opportunities, career support, and access to professional development resources.
Continuing Professional Development (CPD)
As an ACCA member, engage in continuous professional development (CPD) to stay abreast of industry trends, regulatory changes, and emerging technologies. Participate in workshops, seminars, and online courses to enhance your skills and maintain your professional competence. ACCA offers a variety of CPD resources to support your ongoing learning journey.
Career Progression
With your ACCA qualification and membership, pursue diverse career paths in accounting, finance, and management across various industries and sectors worldwide. Advance your career through promotions, job rotations, and specialized certifications. Leverage ACCA’s global network and reputation to unlock new opportunities and achieve your professional aspirations.
Ethical Leadership
Adhere to ACCA’s ethical and professional standards, upholding integrity, objectivity, and confidentiality in your practice. When interacting with clients, colleagues, and stakeholders, demonstrate ethical leadership and social responsibility. Uphold ACCA’s values of accountability and transparency to maintain trust and credibility in the profession.
Expected Salary, Eligibility and Process of Qualifying ACCA
The details about the salary, eligibility, and process of qualifying for the ACCA exams are below to help you better understand the exam processes. This information will help the aspirants to plan their own way.
Expected Salary
The salary of an ACCA professional can vary significantly based on factors such as location, industry, experience, and job role. On average, however, ACCA professionals command competitive salaries due to their expertise and global recognition. In the UK, for example, entry-level ACCA professionals can expect to earn between £20,000 to £35,000 per annum. In comparison, experienced ACCA members with several years of experience may earn upwards of £60,000 to £100,000 or more, depending on their seniority and specialization. Salaries may be higher in financial hubs like London or Dubai, where demand for ACCA professionals is often greater.
ACCA professionals may earn salaries commensurate with local standards in emerging markets or developing countries but still enjoy a competitive edge due to ACCA’s global recognition. With experience and specialization, ACCA professionals can command even higher salaries, particularly in roles such as finance managers, financial controllers, or chief financial officers (CFOs), where their strategic insights and financial acumen are highly valued.
Eligibility
To pursue the ACCA qualification, candidates must meet certain eligibility criteria as mentioned below. Once these criteria are met, the ACCA registration process can be initiated.
- Educational Qualifications: Typically, candidates need a minimum of two A-levels and three GCSEs (or equivalent qualifications) in five subjects, including Mathematics and English. However, ACCA offers exemptions for certain qualifications, such as degrees in accounting or related fields, which may waive some ACCA exams.
- English Proficiency: ACCA exams are conducted in English, so candidates must demonstrate proficiency in the language through recognized tests like IELTS or TOEFL unless they have completed their education in English.
- Age Requirement: There is no minimum or maximum age limit to enroll in ACCA, making it accessible to individuals at various stages of their careers.
- Registration with ACCA: Once eligibility criteria are met, candidates can register as ACCA students and begin their journey toward qualification.
- Exemptions: Depending on your prior educational qualifications, you may be eligible for exemptions from certain ACCA exams. For instance, if you’ve completed relevant qualifications like a diploma or degree in accounting or a related field, you may be exempted from some exams. These exemptions can fast-track your progress through the ACCA qualification. Check your exemption eligibility with our ACCA exemption calculator now.
Process of Qualifying ACCA
Becoming a qualified ACCA professional involves several steps to be followed diligently to smooth the process.
- Registration: Register as a student with ACCA and pay the registration fee. Upon registration, you’ll gain access to study materials, resources, and support.
- Exams: ACCA consists of several levels and modules, each comprising exams covering various topics such as financial accounting, management accounting, taxation, and strategic business management. Prepare diligently for each exam using ACCA-approved study materials and resources. Exams are typically held at designated centers worldwide, and candidates must pass all required exams to progress to the next level.
- Practical Experience Requirement (PER): In addition to passing exams, ACCA requires candidates to complete a practical experience requirement (PER). Gain relevant work experience in accounting, finance, or related fields under the supervision of a qualified mentor. ACCA values practical skills alongside theoretical knowledge, ensuring that candidates are well-rounded professionals.
- Professional Ethics Module: Complete the Professional Ethics module, which covers accountants’ ethical and professional issues. This module reinforces ACCA’s commitment to ethical standards and professional values, preparing candidates to uphold integrity and professionalism in their practice.
- Apply for Membership: Upon completing exams, fulfilling the practical experience requirement, and passing the Professional Ethics module, apply for ACCA membership. Membership signifies your status as a qualified ACCA professional, recognized globally for your expertise and professionalism.
- Continuing Professional Development (CPD): As an ACCA member, engage in continuous professional development (CPD) to stay updated on industry trends, regulatory changes, and emerging technologies. ACCA offers a range of CPD resources, including workshops, seminars, and online courses, to support your ongoing learning journey and maintain your professional competence.
Conclusion
Becoming an ACCA professional is a transformative journey that equips individuals with the skills, knowledge, and global recognition needed to excel in the fields of accounting, finance, and management. By following the structured process outlined above, aspiring professionals can embark on this rewarding path, unlocking a world of opportunities and contributing to their personal and professional growth. ACCA’s emphasis on excellence, integrity, and continuous learning ensures that its members are well-prepared to navigate the complexities of the modern business world and make meaningful contributions to their organizations and communities. Steps to become ACCA if followed if followed properly, will help in a smooth academic journey.
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Steps to Become an ACCA FAQs
How long does it take to qualify as an ACCA professional?
The time taken to qualify as an ACCA professional varies depending on individual circumstances, such as prior qualifications, study pace, and exam performance. On average, it can take 3 to 4 years to complete all ACCA exams and fulfil the practical experience requirement (PER).
Can I study ACCA while working full-time?
Yes, many ACCA students pursue their studies while working full-time. ACCA’s flexible study options, including online learning and evening classes, allow students to balance their studies with professional commitments. However, it requires dedication, time management, and perseverance to juggle work and study responsibilities successfully.
Are there any exemptions available for ACCA exams?
Yes, ACCA offers exemptions for certain qualifications, such as degrees in accounting or related fields, which may waive some ACCA exams. To qualify for exemptions, candidates must provide evidence of their prior qualifications and apply for exemptions during the registration process with ACCA.
Is ACCA recognized internationally?
Yes, ACCA is recognized and respected globally as a leading professional accounting body. Its qualification is recognized by regulatory bodies, employers, and universities in over 180 countries, enabling ACCA professionals to pursue rewarding career opportunities worldwide.
What are the career prospects for ACCA professionals?
ACCA professionals enjoy diverse career prospects in accounting, finance, and management across various industries and sectors. They can pursue roles such as accountants, financial analysts, tax consultants, and finance managers. ACCA’s global recognition and reputation open doors to senior leadership positions and international career opportunities.
