How Do ACCA Exam Work- Job Opportunities & Employers after ACCA in India

Becoming an ACCA professional opens up a range of career opportunities within global firms like Deloitte and KPMG. As an ACCA member, you gain access to a network of professionals and resources provided by the Association of Chartered Certified Accountants. Understanding IFRS (International Financial Reporting Standards) is crucial for ACCA professionals, as it is a key component of modern accounting practices. The Association of Chartered Certified Accountants offers valuable support and development opportunities for its members. ACCA professionals often find that their qualifications enhance their career prospects compared to Indian CA qualifications alone. Firms like Deloitte and KPMG highly value ACCA certification, which can lead to significant career advancement in the accounting and finance sectors. The ACCA qualification is recognized internationally and can open doors to various roles within leading global accounting firms. ACCAs who are well-versed in IFRS are often sought after for their expertise in financial reporting and compliance across different industries.

Key Takeaways

• ACCA Exam Work

• ACCA Exam Syllabus

• Study Strategy and Plan

Introduction

The Association of Chartered Accountants (ACCA) exams are very popular in the UK and all over the world. ACCA stands for Association of Certified Chartered Accountants and is one of the largest professional accounting bodies in the world with over 188,000 members and 480,000 students. With ACCA qualifications, a person can work as an accountant, financial advisor, management consultant, financial planner, etc. The chances of ACCA in India have grown significantly, especially with the growing network of Big 4s and MNCs in the country. ACCA degrees are equivalent to CA (ICAI) in India and salaries are similar to those of a Chartered Accountant. 

ACCA EXAM SYLLABUS

The ACCA Exam Syllabus can be divided into the next 4 levels. Each level has several ACCA papers. So far, however, there are 13 total ACCA Exam course tests.  

Level of Knowledge Used - Three tests that include:

• F1 AB - Business Accountant 
• F2 MA - Financial Management 
• F3 FA - Financial Accounting 

Level of Skills Used - Six tests that include:

• F4 LW - Business and Business Law 
• F5 PM - Performance Management 
• F6 TX - Tax 
• F7 FR - Financial Reporting 
• F8 AA - Audit and Assurance 
• F9 FM - Financial Management 

Strategic Professional level - Six tests that include

Two mandatory papers: 

• P1 SBL - Strategic Business Leader 
• P2 SBR - Strategic Business Reporting

Four paper options, of which two must be selected: 

• P4 AFM - Advanced Financial Management 
• P5 APM - Advanced Performance Management 
• P6 ATX - Advanced Tax 
• P7 AAA - Advanced Research and Assurance

Study Strategy and Plan

The ACCA examination is one of the most popular exams in India. With ACCA actual certification nowhere in India, students find it difficult to decide whether a career path is right or not.

Reading one ACCA paper every three months allows you to focus on one study at a time which you may find useful as you progress through the advanced papers. This is because some high-level subjects are difficult or have a larger syllabus to study. However, this may mean that you should start studying your next paper before you have the results of your recent tests if you want to have enough time to prepare. If you want to wait until you get your test results before you start your studies for your next paper, this could mean studying for a solid seven-week period.

Study plan: 

• Review questions from previous years and comprehend it 
• Understand new syllabus content and practice it 
• Do not be overconfident, be consistent
  
  

How to Register for ACCA Exam

• Find a center that provides much-needed CBEs
• Make arrangements to deliver your tests directly
• Pay the CBE center directly for the tests
• On the day of the test, your identity will be checked by the invigilator. Further eligibility and qualification tests are performed, and the supervisor's instructions are read.
• When the test is completed, your temporary result is displayed on the screen. Your result will be forwarded to your ACCA records within 72 hours.
• Each exam session has a deadline to apply if you want to write an exam for that session. Applying early means you can use lower fees.
• Once you have booked a test, you can view the booking details and cancel or amend the booking. Any changes or cancellations to booking the test must be made before the normal entry deadline and your test fee will be credited to your account.
• Changes or cancellations made after the standard deadline are not allowed and your trial fee will not be credited to your account.

ACCA Career Prospects

As we all know, ACCA eligibility is equivalent to a CA (ICAI) certificate in India. However, the suitability of a CA is much harder to overcome. However, CA eligibility is required if you wish to work for one of the Indian companies, start your own business, or become a partner in a CA company.  Similarly, if you wish to work abroad, ACCA becomes a compulsory qualification. ACCA job opportunities are available throughout Australia, the UK, Singapore, Dubai, etc. Besides, for students who would like to have full experience and knowledge within the financial institution, ACCA works long hours. There are many ACCA job opportunities available worldwide. In addition to being an accountant, an ACCA specialist can work as a management consultant, financial planner, senior accountant, Accounts receivables, Accounts Manager, and so on.

With such an influx, it is predicted that India could easily become one of the world’s largest ACCA markets. Thus, the Indian economy is on the verge of growth and globalization. As a result, even MNCs and large multinational corporations are turning to India in search of professional refugees and ace financial experts. The ACCA salary in India is very similar to that of a CA specialist. A person with an ACCA degree can earn an average salary of almost INR 8 lac p.a. The Payment scale of ACCA is usually from INR 4 lac p.a. to INR 15 lac p.a. It may also increase, depending on the candidate's skills, company requirements, competition, etc.

India’s Best Coaching Center

The most important part is to have the right study plan to prepare for the ACCA exam. Compared with CA, ACCA is more flexible to pass but still, you need to put in hard work and dedication. The first step is to find the right institute to get trained. Practice exam papers from past years, use flashcards, and join in group studies. Choose the right materials to study. Notably, Mr. M. Irfat sir of NorthStar Academy stands out as an excellent faculty. Improving candidates' learning experience and increasing the chances of success in the ACCA path with the help of the right academy like NorthStar Academy. Ideally, you should be able to clear the ACCA exam in one go!

Conclusion

In conclusion, pursuing ACCA certification opens various job opportunities globally, including in India. This certification is equivalent to India’s CA examination. Candidates can work in the role of financial advisor, accountant, management consultant, etc. To tackle this exam you need to have a strategic study plan and dedication. But choosing the right center like NorthStar Academy (NSA) will help you succeed and with the best mentor guidance you will be able to crack your exam in one go!