article1Mohamed Shafi

What is ACCA?-A brief Introduction about ACCA Exam

article1

By studying ACCA, you can promote your career development in all aspects. Open the door to the most exciting and best roles in the world. You can become a financial expert to respond to the rapidly changing needs of the world. It is a rewarding and intense journey, and we will support you at every stage of your career. There are several reasons why you should choose ACCA. Here in this blog, you will read about the ACCA exam and syllabus. 

What is ACCA?

ACCA stands for Association of Chartered Certified Accountants and is a leading international accounting institution. ACCA qualifications are also recognized in other countries and are considered equivalent to those qualifications.

ACCA certification shows your employer that you are competent in all aspects of your business. It is the largest and fastest-growing qualification globally, with over 500,000 members and students in 170 countries and territories. Recognized by the European Union and the United Nations, this certificate will help you travel and work worldwide.

To join them, you need to take a series of written tests to show a deep understanding of the accounting industry. The 14 papers cover various topics, from business ethics and law to technical topics such as auditing and financial reporting. They are divided into four main areas: knowledge, Essentials, skills, and choices.

You can also use ACCA certificates to study other subjects. Many institutions that provide ACCA can be combined with a bachelor's or master's degree in a similar discipline to obtain a dual qualification at the end of the study. As you know, the exams are complicated, but it takes ten years to pass all the exams. Most people can pass within three years. With the right mentor and focus, you can do it faster. So lots of reasons to choose ACCA certification for your career development.

Once you are qualified, you can also access the network of other accounting professionals. These professionals provide support and advice in your study and career, as well as forums and resources to help you grow. ACCA certificate can be an essential asset to your CV, opening the door to a flourishing accounting career.

Why is ACCA important?

The Association of Chartered Certified Accountants (ACCA) is a significant accounting organization. To become an ACCA member, you need to pass multiple exams. The ACCA qualification is globally recognized, and many countries consider it equivalent to local accounting studies.

ACCA certification covers all aspects of business management. In addition, it covers theoretical aspects such as motivational theory and more technical aspects such as bookkeeping and cost accounting. The ACCA qualification is a prestigious qualification. There are many reasons for choosing it.

Here are some of the most important reasons to study ACCA.

  • Comprehensiveness
  • You can start your own business
  • Easy to manage
  • Continued professional development
  • Competence measurement
  • Cost-effectiveness
  • Comprehensiveness

ACCA qualification is a very comprehensive qualification. You can acquire the technical and management skills required by a certified chartered accountant. The areas covered by the syllabus include taxation, business studies, auditing, law, professional and ethical issues, financial management, management accounting and financial reporting. This qualification is designed to provide students with a wide range of skills and abilities. ACCA certification aims to ensure that members have all the skills and abilities required to work in different organizations in various roles.

  • You can start your own business

ACCA introduces business and financial management issues. The knowledge and insights gained from the course will help you lay the foundation for doing business. Anyone who wants to be an entrepreneur can set the right course that suits their ambitions. ACCA members have begun to engage in auditing, tax, and other operations.

  • Easy to manage

Studying ACCA does not require any special academic agreement as it can be taken directly through the internet. Therefore, you can choose the learning model that suits your specific needs based on your preferences.

In addition, the exam structure is very flexible, and you can take the exam according to your needs. Once approved by ACCA, you will be registered for ten years. Therefore, you have enough time to complete the certification. Furthermore, it is easy to enrol in ACCA Training Course because you can find many academies around you.

  • Continued professional development

ACCA members should continue their professional development throughout their lives. It ensures that the knowledge and skills of ACCA members will not become obsolete. They need to continue to learn to maintain the latest knowledge and skills. That allows ACCA members to work in a volatile and rapidly changing environment. There is a wide range of career options you can choose from.

  • Competence measurement

ACCA combines the advantages of traditional accounting skills with a broad and forward-looking curriculum. The course recognizes that financial professionals increasingly need to demonstrate strategic thinking, personal skills, good communication skills, and fluency in information technology.

The ACCA members are required to maintain their professional development throughout their life. It ensures that the knowledge and skills of the ACCA members do not become outdated. They are required to keep learning to keep their skills and knowledge up to date. It ensures that the ACCA members can work in highly volatile and rapidly changing environments.

  • Cost-effectiveness

ACCA certification is a very affordable way to gain knowledge and professionalism. Members acquire not only accounting and financial skills but also valuable organizational and strategic management skills. This combination of management skills enhances a member's career prospects.

What is the ACCA exam syllabus?

The ACCA syllabus includes 14 exams. The basic level includes nine exams from F1 to F9. From a professional perspective, you must pass five exams to be certified. It includes the required papers P1, P2, and P3, and then two of the four optional P4, P5, P6, and P7. There are four paper exams every year, and some papers can also provide computer-based exams on request. Depending on your previous qualifications, you may also be exempted from specific papers.

The ACCA exam pattern and structure

The ACCA Exam Pattern has two parts: Computer-based and Paper-based, including multiple-choice questions (MCQs) and Scenario-based questions. The ACCA exam pattern and Structure is as below:

Exam Pattern for Computer-based Papers
(ACCA Papers from F1-F9 are all computer-based exams)
  • Papers F1, F2, F3 and F4 involve questions
  • 100% MCQs — (2 × 50 questions)
  • You can give those by booking your exams at any of the centers
  • Papers from F5 to F9 contains
  • 60% MCQs, is divided into two sections:
  • Section A: 2× 15 questions
  • Section B: Each of the 3 scenario questions has 15 numbers. Each scenario has 5 MCQs under it.
  • 40 long answer questions: A scenario will be given, and 3 to 4 questions will be asked on this basis.

 

Exam Pattern for Paper-based
(P1 - P6 are paper based exams)
  • The ACCA SBL paper consists of a single question of 100 marks which gets sub divided into various questions of varied marks.
  • 100% scenario-based questions.
  • Section A: A case study of 50 marks will be given and 4-5 questions will be asked on it.
  • Section B: Each will be given 3 cases of 25 marks. Have to try 2 out of 3.

 

Exams are held in March, June, September, and December of each year. In six months, a person can take four or eight exams per year, which require a total of thirteen exams to qualify.

Conclusion

Employers are always looking for ACCA-certified professionals because they have a qualitative understanding of practical, technical, and analytical skills. In fact, due to the high demand, employers in many industries such as banking, auditing, retail, insurance, and IT offer profitable packages. ACCA accreditation is probably one of the most trusted options for students and professionals interested in pursuing a career in the financial sector. ACCA is the perfect short course if you want to make a difference in your CV.

article1Mohamed Shafi

article1

He is a Financial Accounting trainer with over 7 years of teaching experience in Financial accounting fundamentals and software. Apart from training experience, he has industry experience of two years as a senior accountant at GCC countries. He is well versed in Tally, Sage 50, Zoho Books and SAP FICO.

He follows easy to learn methodologies which work wonders on his training. He loves to travel a lot and has a craze in driving too. His passion for teaching and training engages him to attend conferences and in exploring new areas of learning.

Leave a Reply

back-to-top