Phoenix Financial Training (PhoenixFT) is a leading provider of finance qualification and training courses in the Middle East and India. If you want a career in accountancy, consider getting PhoenixFT’s preparation courses for the Association of Chartered Certified Accountants (ACCA) exams.
Passing up to 13 ACCA exams is one of the primary requirements for attaining the ACCA professional designation, and PhoenixFT can help you prepare for these exams. It does this by providing tuition and revision classes (online or face-to-face, depending on your learning package), study notes, webinars, and personalized tutor support. The platinum package also provides students access to a physical study lounge and facilities, access to PhoenixFT’s skills and recruitment services, and a lifetime resit guarantee.
Do you want to become an ACCA professional? The discussion below provides a general overview of the ACCA qualification process.
ACCA refers to the global body of professional accountants. ACCA is also a professional accountancy qualification awarded by the same body to anyone who completes the ACCA program.
The ACCA qualification is a globally recognized designation for finance and accounting professionals. It demonstrates expertise in financial management, taxation, audit, and other key areas of accounting.
To become an ACCA member, you must enter the ACCA program and fulfill all the exit requirements.
ACCA has a minimum academic requirement. At the very least, you must have:
- At least two A-levels
- At least three general certificate of secondary education qualifications
That’s five different subjects, two of which must be English and math.
The ACCA program entry requirements vary by country. In the UAE, a university diploma is sufficient for registration. In Oman, you can get in with a two-year diploma, an institute of health sciences diploma, or a technical industrial college diploma. If you’re from India, you can enter the ACCA program with an All India Senior School Certificate or an equivalent credential, provided you have passes in five subjects including math and English, at least a 65% mark in two subjects, and at least 50% in the remaining three.
What if you don’t meet the minimum eligibility requirement for your country? You can start by acquiring the Foundations in Accountancy qualifications and then use them as a stepping tool to enter the ACCA program. PhoenixFT has a Jumpstart course for this purpose.
The Foundations in Accountancy (FIA) qualifications are:
- ACCA Diploma in Financial and Management Accounting, a Level-2 RQF credential
- ACCA Diploma in Financial and Management Accounting, a Level-3 RQF credential
- ACCA Diploma in Accounting and Business, a Level-4 RQF credential
- Certified Accounting Technician (CAT)
You must fulfill all the program requirements once you’ve been admitted into the ACCA program. You’ll need to sit for and pass up to 13 exams (the actual number will depend on the exemptions for which you’re qualified), accumulate and log three years of relevant work experience and finish the Ethics and Professional Skills module.
There are 15 ACCA exams, but you need to complete only 13. These exams are distributed among four categories:
- Applied Knowledge: Business Technology, Management Accounting, Financial Accounting
- Applied Skills: Corporate and Business Law, Performance Management, Taxation, Financial Reporting, Audit and Assurance, Financial Management
- Strategic Professional Essentials: Strategic Business Leader, Strategic Business Reporting
- Strategic Professional Options (choose two): Advanced Financial Management, Advanced Performance Management, Advanced Taxation, Advanced Audit and Assurance
How do you know how many exams you must pass? If you have the minimum academic credentials required for program entry, start with the applied knowledge and applied skills exams. If you have a finance-related degree (e.g., bachelor’s degree in accountancy), you may qualify for exemptions from the applied knowledge and applied skills exams and go directly to the strategic professional exams.
Note: ACCA has a seven-year rule, which states that you have seven years to complete all strategic professional exams after passing your first strategic professional exam. Failure to do so means retaking every single strategic professional exam, even those you’ve already passed.
The Ethics and Professional Skills Module
This online module strengthens your professional skills and ethical decision-making. It includes topics such as leadership, communication, data analytics, and commercial awareness.
The Practical Experience Requirement
ACCA candidates must accomplish three years of supervised, relevant work experience. It may be gained from multiple roles, and you don’t need to get three years of experience in one continuous period, but every logged role must align with ACCA’s performance objectives. These performance objectives include ethics, stakeholder management, strategy, and governance. You must document your experience with real workplace examples, which your work supervisor must review and sign off on.
Once you pass all exams, complete the ethics module, and meet the practical experience requirement, you can apply to become an ACCA member. This qualification opens career opportunities worldwide in auditing, taxation, financial management, and consultancy.
Become an ACCA With PhoenixFT’s Help
PhoenixFT is a leading provider of financial qualification and training courses in the Middle East and India. If you want to become an accountant, enroll in PhoenixFT’sACCA course.
