ACCA Exemptions Qualification and Exam Details

Exemption terms and conditions recognize previous professional experience and accomplishments. This way, you can begin your ACCA journey at a level that complements your existing skill sets and knowledge base. Primarily aimed at minimizing repetitive learning, these advantages identify and acknowledge candidates already adept in fundamental principles related to finance and accounting. These advantages are called exemptions that allow you to complete your ACCA without taking all the ACCA exams.

Exemptions are not available to every candidate. The Association of Chartered Certified Accountants adopts a very rigorous process to award these exemptions. Such a thorough process helps the association ensure and verify that the candidate's skills and knowledge match the qualifications required for the ACCA. Usually, these exemptions are offered to candidates with the following degrees or qualifications in the finance and accounting stream:

• Bachelor degrees

• Foundation degrees

• Professional qualifications

• Postgraduate degree

• Diplomas and Certification courses from recognized institutions

The ACCA continuously administers the granting of exemptions based on syllabus updates and evolving skill sets. The critical thing to remember is that the number of exemptions differs for everyone; the ACCA determines how many tests each candidate is exempted from depending on their credentials.

One of the qualifications for which exemptions are available for ACCA is Chartered Accountancy. CAs are offered maximum exemptions as they gain significant finance and accounting knowledge and skills. Different exemptions are awarded based on your qualifications, as given below.

• Qualified CA- If you have cleared the CA exams, earning the ACCA credentials is the fastest for you compared to other candidates, as you are allowed maximum exemptions. If you are fully qualified as a CA, you could be eligible for up to 9 exemptions, encompassing the Applied Knowledge (F1-F3) and Applied Skills Exams (F4-F9). You can not claim exemptions for Strategic Professional Exams.

• Qualified CA Inter Student- The ACCA exemptions for CA Inter-qualified students are less than those available for a qualified CA. You can claim up to 6 exemptions as a qualified Inter CA. These account for all the Applied Knowledge Exams (F1-F3) and some Applied Skills Exams (F4-F6).

Claiming exemptions for CA is difficult as it requires you to consider several factors before choosing your path. Based on the evaluation of certain factors, availing exemptions is beneficial for some CA students and professionals, while for some, it is better not to claim them.

Qualification Achievement Time

The time passed after your qualification is one of the first and most crucial factors to help you determine whether you can receive exemptions for CA. If you are a recently qualified CA, claiming exemptions is suitable for you. With your fresh knowledge, you can also claim these exemptions if you are practicing as a CA or working in a relevant field.

However, exemptions are not the right path for you if you cleared CA finals several years back and have not worked in the field for quite some time. Your non-updated knowledge and old skills will make it challenging to clear the Advanced Strategic Professional Exams for ACCA if you claim exemption for the Applied Knowledge and Applied Skills Exams. So, avoid them in such cases.

Cost

Another crucial factor to determine is cost. ACCA CA exemption fees help you avoid tuition and study material costs for preparing for specific ACCA exams.

Time Availability

If saving time in your professional growth is your aim, gaining exemptions in ACCA based on your previous qualifications can help you do so. It will help you become an ACCA quickly without the need to take all the exams. 

You must submit certain documents to the ACCA to apply and claim exemptions. It involves documents verifying your identity and your qualifications documents. Your proof of identity can be your driver's license, passport, national identification card, birth certificate, or any other document with your date of birth.

The qualification documents you present must have the name of the qualification, signature or stamp, logo of the awarding institution, date of completion, marks achieved in each CA subject, and an official letter confirming your qualification as a CA.

Exemptions for CA can be claimed using one of the two paths available.

1. With Initial Registration

The first path involves applying for exemptions with the initial Student Registration process by following the steps below. 

• The first step is to go through the Exemption policies of the ACCA and find out the exam exemptions you can apply for. 

• Checking the applicable exemption fee is the second step to start with this process, as after being awarded exemptions, you will have to pay the exemption fee for each exam awarded. 

• You can now begin the registration process to apply for exemptions. Upon successful receipt of your email application, ACCA reviews it thoroughly before either acknowledging your exemption grant or soliciting further supporting documentation.

• The initial processing will proceed within five days, and you will receive a mail for additional documents if needed for the ACCA qualification. On the other hand, if no additional documents are required, the ACCA will mail you about the claimable exemptions.

• You can pay the exemption fee for each awarded exam within 30 days of receiving the mail to receive exemptions you may be eligible for. 

2. Via Email

You can also apply for ACCA exemptions for CA via email. 

• Start with preparing all the required documents. 

• Email them to ACCA Global at [email protected].

• Once document validation is accomplished, ACCA will send an official recognition mail stating approval of your exemptions.

• After receiving the confirmation mail, you can claim the exemptions with your ACCA student registration. 

The Association of Chartered Certified Accountants (ACCA) necessitates a fee in the process of awarding exemptions. This fee is equivalent to the Exam fee associated with each exam, and it must be paid within a month upon receiving your exemption confirmation from the ACCA.

Exemption Fee for Applied Knowledge Exams

For each awarded Applied Knowledge Exam, candidates from India have to pay an exemption fee of £84. 

Exemption Fee for Applied Skills Exams

For each awarded Applied Skills Exam, candidates from India have to pay an exemption fee of £111.

Pursuing CA and ACCA is arguably one of the shrewdest paths that can amplify your accounting career onto the international stage. Moreover, suppose you are a CA or a qualified CA Inter student. In that case, you may be eligible for exemptions out of total 13 papers in ACCA, facilitating faster advancement into higher levels within their exam structure. So, if you are a CA or a CA Inter student and wish to access global job opportunities, join NorthStar Academy™s expert ACCA course today. In addition to offering world-class education, being an official ACCA partner also enables us to offer you discounts as you claim an exemption for CA.