The ACCA (Association of Chartered Certified Accountants) qualification is one of the most recognized credentials for aspiring accountants around the world. But if you’re thinking of enrolling in the ACCA program, you might be wondering just how much time you need to invest to achieve this globally respected qualification. In this blog post, we’ll break down the ACCA course duration clearly and provide you with everything you need to know to plan your journey toward becoming a chartered accountant.
What Is ACCA and Why Is It Important?
Before diving into the duration, let’s briefly talk about what the ACCA qualification is. The ACCA is a professional accounting body that provides a prestigious qualification aimed at helping you build a career in accounting, finance, or management. It’s recognized in over 180 countries, and completing the ACCA can open up global career opportunities.
The ACCA course duration can vary depending on factors like your education background, the time you have available for study, and your ability to pass exams. Let’s break this down in more detail.
ACCA Course Structure and Levels
The ACCA course is divided into three main levels:
- Applied Knowledge – Foundation-level knowledge, covering topics like Business and Technology.
- Applied Skills – Focuses on more detailed subjects, such as Taxation, Financial Management, and Performance Management.
- Strategic Professional – Advanced studies involving essential and elective topics that prepare you for senior roles.
Each level involves a set of exams that you must pass to progress to the next.
How Long Does It Take to Complete the ACCA Course?
The ACCA course generally takes three to four years to complete. However, the total duration depends on various factors:
- Previous Qualifications: If you have prior qualifications, such as a degree in accounting, you may be eligible for exemptions. This could shorten the ACCA course duration significantly, perhaps reducing it by a year or more.
- Study Mode: You can choose full-time, part-time, or even self-study options for the ACCA. Full-time study will likely allow you to complete the course quicker, while part-time or studying alongside a job will extend the duration.
- Exam Pass Rate: Since the ACCA exams can be challenging, failing any of the exams may mean retaking them, which also increases the time taken to complete the entire course.
Breakdown of Each Level
- Applied Knowledge Level
- Typically takes 6-12 months to complete.
- This level includes three exams that lay the foundation for accounting concepts.
- Applied Skills Level
- 12-18 months is the average time required for this level.
- Involves six exams covering a wide range of skills needed in the field of accounting.
- Strategic Professional Level
- Takes around 12-18 months to finish.
- You will complete four exams (two compulsory and two electives) which prepare you for higher-level responsibilities in your career.
In total, you can expect the ACCA course duration to be anywhere between 3 to 4 years, depending on how you plan and progress through the exams.
Factors That Impact the ACCA Course Duration
There are some factors that can influence how long it will take you to complete the ACCA course:
- Exemptions: If you have a relevant degree or qualification, you may get exemptions from certain exams. This reduces the number of exams you need to take and can shorten the duration of your course.
- Study Time Available: If you can study full-time, you will complete the course much faster. However, many students opt to study while working, which means a part-time approach will take longer.
- Passing Exams: Each level of the ACCA requires passing multiple exams. Since the pass rate can vary and some subjects are challenging, it’s common for students to retake exams, which adds to the overall duration.
How to Shorten the ACCA Course Duration?
If you’re eager to complete the ACCA course as soon as possible, here are some tips:
- Apply for Exemptions: If you qualify, exemptions can save you a lot of time. Check with ACCA to see which subjects you might be exempt from based on your previous qualifications.
- Create a Study Schedule: Plan your studies in advance and set a consistent schedule. This helps ensure that you stay on track and prepare well for exams.
- Take Multiple Exams: If you’re comfortable, try taking more than one exam during each exam session. ACCA allows you to take up to four exams in a single session, provided you can manage the workload.
What’s the Maximum Duration to Complete the ACCA Qualification?
ACCA allows a maximum of 10 years to complete the entire qualification. This means you can take your time if you need to, especially if you have other commitments like a full-time job or family responsibilities.
Conclusion: Is the ACCA Worth the Time Investment?
Absolutely! While the ACCA course duration might sound long, especially if you’re balancing work or family obligations, the benefits of obtaining this prestigious qualification are significant. The ACCA opens doors to diverse career opportunities, a potentially higher salary, and the chance to work globally. It requires time, dedication, and focus, but with a clear plan, achieving the ACCA qualification is a realistic goal for anyone passionate about building a successful career in accounting and finance.
FAQs About ACCA Course Duration
1. How many exams are there in the ACCA course?
The ACCA course consists of 13 exams in total, divided across the three levels: Applied Knowledge, Applied Skills, and Strategic Professional. However, you may be exempt from some exams based on your prior qualifications.
2. Can I complete ACCA in two years?
Yes, it’s possible, but it requires intensive study and dedication. This is usually achievable only if you are studying full-time and pass all exams on the first attempt.
3. What if I fail an exam?
You can retake any failed exam during the next exam session. There’s no limit to the number of attempts, but failing an exam will increase the overall duration of your course.
4. Is ACCA harder than a university degree?
The ACCA can be challenging, especially because it requires consistent study and the exams can be difficult. However, the difficulty is comparable to a university degree, and many students find the focused and practical nature of ACCA more engaging.
5. How many hours should I study for ACCA?
It is recommended to dedicate 150-200 hours per exam. However, your study time may vary depending on your familiarity with the subject and learning pace.