Table of Contents
Do you revel in your numeracy skills? Do you enjoy dissecting the truth behind numbers? Are you keen to understand what makes a business tick by looking at financial statements?
Well, this is the superpower of an ACCA graduate. Becoming a Chartered Accountant is part of the journey and ACCA is a popular choice to get there.
This guide will show you everything you need to know about the ACCA pathway.
1. What Is ACCA
The Association of Chartered Certified Accountants, known by its shorthand, ACCA, is a globally recognised body for professional accounting. They establish what is considered the global education standard for accountants.
2. Where To Study ACCA?
The ACCA course is flexible. You don’t have to be enrolled into a university to study it. You can take classes online through ACCA’s Study Hub.
The online route is best for part-time students who would benefit from its flexibility.
For students who are able to commit to full-time study, it is recommended to enrol with an ACCA Approved Learning Partner (ALPs) for the best learning experience. These are higher education institutions that are approved to teach ACCA classes and provide exam support services.
Here are 5 Best Universities for ACCA Course In Malaysia:
- #1 Taylor’s University
- #2 Sunway University
- #3 Methodist College Kuala Lumpur (MCKL)
- #4 University Of Wollongong (UOW) Malaysia
- #5 Quest International University (QIU)
3. ACCA Components And Modules
The ACCA student lifecycle consists of 3 stages that are referred to as the 3Es: Exams, Ethics, Experience. Let’s break it down.
Exams
Source: ACCA Global
To graduate with an ACCA course qualification, you are required to complete 13 modules. The 13 modules are grouped into different categories which are the Applied Knowledge, Applied Skills and Strategic Professional modules.
Applied Knowledge modules are computer-based exams that can be administered on-demand while Applied Skills and Strategic Professional papers are administered in four sessions throughout the year: March, June, September, December.
Applied Knowledge
- Module 1: Business and Technology
- Module 2: Financial Accounting
- Module 3: Management Accounting
Applied Skills
- Module 4: Corporate and Business Law
- Module 5: Taxation
- Module 6: Financial Reporting
- Module 7: Performance Management
- Module 8: Financial Management
- Module 9: Audit and Assurance
Strategic Professional
- Module 10: Strategic Business Leader
- Module 11: Strategic Business Reporting
For Modules 12 & 13, pick two below
- Advanced Audit Assurance
- Advanced Financial Management
- Advanced Performance Management
- Advanced Taxation
Ethics
ACCA’s component of Ethics and Professional Skills Module (EPSM) is a module that trains you to be a better employee at the workplace. Over the course of 10 units, students will undergo practical exercises that will help build their professionalism as an accountant.
It is advised to complete this segment before moving on to the Strategic Professional exam modules. According to ACCA Global, students who completed EPSM have an easier time when going into the Strategic Professional papers.
Including the 13 exam modules and EPSM, the total number of modules required for an ACCA student to take is 14 modules.
Experience
As part of the effort to become a full-fledged ACCA member, you are required to complete 36 months of relevant working experience. This is known as the Practical Experience Requirement (PER) component. Students are required to fulfil the work experience requirements to become a full-fledged member of ACCA.
4. Pathways to ACCA
There are 4 pathways you can consider to complete your ACCA course.
Pathway 1: ACCA’s Foundation In Accounting → ACCA
Foundation in Accounting (FIA) is a direct pathway after secondary school offered by ACCA as a 1 year course as an entryway into obtaining an ACCA qualification. After that, you’ll go on to complete the rest of the ACCA course pathway over the course of 2 years.
(As an SPM / O-Level leaver, the minimum entry requirement for FIA is 5 credits including English and Mathematics.)
Pathway 2: Pre-U / Foundation → ACCA
An alternative pathway is through the usual pre-university or other foundation courses route. Courses under this category are typically 1 to 2 years long after successful completion and students may continue on toward the ACCA course.
Pre-university courses and foundation courses are typically not recognised for exemptions. Since no exemptions are awarded, it would take up to 3 years to complete all the modules within ACCA.
Pathway 3: Diploma → ACCA
You also have the option to proceed to ACCA after your diploma course.
If you took Accounting-related subjects in any relevant diploma course, you may be exempted from 3 Applied Knowledge modules. All exemptions are subject to your course being recognised by ACCA and if you meet the grade requirement.
Typically it would take 2 years to complete ACCA on this pathway.
Pathway 4: Degree in Accounting → ACCA
As an Accounting Degree graduate looking to attain the chartered accountant qualification, you can continue studying for the ACCA qualification after completing your 3 year degree course.
With an accounting degree, you can be exempt from up to 9 ACCA papers from the Applied Knowledge and Applied Skills modules.
These exemptions are on a case-by-case basis, subject to your grades and if ACCA recognises your course.
Receiving the maximum number of exemptions will shorten the duration of your ACCA course study to 1 year.
Refer to the ACCA Global’s Exemptions Calculator to find out which exemptions you qualify for.
5. Why Take ACCA
Despite being known as a challenging course, ACCA is still a popular choice because of its many benefits:
- Global Recognition – ACCA is offered everywhere in the world and many top corporate executives are ACCA-accredited Chartered Accountants. ACCA is highly valued in the workforce.
- Global Mobility – As an ACCA member, you will also be eligible to work in over 180 countries globally without a need to apply for other qualifications.
- Access To Industry Development – You also have access to the collection of resources provided by ACCA. As a student, this includes exam notes and preparation materials.
- Good Earning Progression – Graduates with this qualification automatically become contenders for higher positions and higher salaries than the average accounting degree graduate.
6. ACCA Affiliates, Membership and Fellowship
Another reason to take ACCA is to be part of their community. The global ACCA community consists of over 200 thousand members and 500 thousand students as part of their network.
Once you graduate as an ACCA member, you will be able to enjoy benefits from membership including:
- Enhanced professional development
- Networking opportunities
- Mentorship
- Career growth
- Lifelong learning
There are different tiers of membership within ACCA, which represent the individual’s professional experience and commitment to the industry.
Affiliates: Entry-level status for ACCA students who have completed all their other modules but have not obtained the required work experience.
Members (ACCA): ACCA qualification holders who have fulfilled the 36 months of required professional experience. It is at this point that you will be allowed to use the ACCA designation.
Fellows (FCCA): Fellows are loyal ACCA members (of at least 5 consecutive years) who have fulfilled their yearly Continuing Professional Development (CPD) learnings. Fellowship is considered the highest achievement to be awarded to ACCA members for their long-term commitment and dedication for continuous development.
As you continue to be a member of this community, your value to the workforce also increases as employers trust in the skills and dedication that being part of ACCA requires.
It is important to note that each individual status in ACCA comes with its membership costs, which you can find out on ACCA Global’s fee section.
Got Scholarship?
Use our Pathway Match tool to accurately get matched with your preferred courses, fees and scholarships you qualify for in 5 minutes.
7. ACCA VS Other Accounting Certifications
While you do not necessarily need a professional accounting certification to start working as an accountant, having one significantly increases your career prospects. But which should you take?
There are two key factors that set apart different accountancy certifications which are recognition status and area of focus. Choosing which to qualify for is dependent on your career goals. Here’s an overview of some of the globally recognised certifications:
| Qualification | Globally Recognised | Focus Area |
| ACCA | Yes | Broad scope of accounting skills with emphasis on financial accounting |
| Institute of Chartered Accountants in England and Whales (ICAEW) | Yes | Broad scope of accounting skills with emphasis on audit |
| Chartered Institute of Management Accountants (CIMA) | Yes | Management accounting |
| Certified Public Accountant (CPA) | Yes (primarily US, Aus, & most English-speaking countries) | Financial analysis, taxation, audit, business consulting |
| Chartered Financial Analyst (CFA) | Yes | Financial analysis |
| Certified Internal Auditor (CIA) | Yes | Internal audit |
| Certified Fraud Examiner (CFE) | Yes | Fraud detection |
When it comes to the scope of technical skills, ACCA is one of the more competitive certifications to obtain and a first choice for many employers.
Recommended Course Guides
Looking for other related courses? Here are accounting and business-related course guides you should check out:
If you’re still unsure about what to study, we have many other Course Guides that can provide further guidance.
You must be logged in to post a comment.