The Association of Chartered Certified Accountants (ACCA) is one of the most sought-after professional qualifications for aspiring accountants and finance professionals globally. As a highly respected certification, ACCA can open up numerous opportunities in the accounting and finance sectors. However, before starting on this journey, it’s essential to understand the ACCA course duration, which depends on various factors like study pace, work experience, and personal circumstances. In this article, we’ll explore the typical timelines for completing the ACCA qualification and the factors that influence how long it takes.
What is the ACCA Qualification?
The ACCA qualification is a globally recognized certification that prepares students to become certified accountants and finance professionals. The qualification covers various topics such as accounting, taxation, law, and financial management, and it is known for its comprehensive curriculum.
ACCA’s qualification is split into three levels:
1. Applied Knowledge: This level provides foundational knowledge in accounting and finance.
2. Applied Skills: This level develops technical skills and covers core areas such as performance management and taxation.
3. Strategic Professional: The final level focuses on high-level professional capabilities and strategic thinking.
How Long Does it Take to Complete the ACCA Course?
The duration of the ACCA course varies depending on several factors, including:
Entry qualifications: Your starting point within the ACCA qualification will impact the duration. For instance, if you have a relevant degree, you might qualify for exemptions from some exams, thus shortening your ACCA journey.
Study mode: Whether you choose full-time study, part-time study, or self-paced learning will affect the time it takes to complete the course.
Work experience: To qualify as an ACCA member, you need three years of practical work experience. Some students gain this experience alongside their studies, while others acquire it after completing the exams.
For most students, the ACCA qualification takes anywhere from 2 to 4 years to complete. Below is a more detailed breakdown of the factors that influence this duration.
1. Entry Point and Exemptions
One of the main factors that affect how long it takes to complete the ACCA course is where you start. Depending on your previous qualifications, you may be eligible for exemptions from some ACCA exams.
School leavers: If you’re starting ACCA with no prior qualifications (i.e., after completing high school), you will need to take all 13 exams, which will take longer to complete.
Graduates: Those who hold a relevant degree, such as in accounting, finance, or business, may qualify for exemptions from some or all of the exams at the Applied Knowledge and Applied Skills levels. Graduates with these exemptions can complete the ACCA qualification in as little as 2 years.
2. Study Options: Full-time vs. Part-time
Your choice of study mode is another important factor in determining how long it will take to complete ACCA.
Full-time study: If you can dedicate yourself fully to studying, you might complete the exams in a shorter time frame, potentially 2 to 3 years.
Part-time study: If you’re working while studying, it may take longer, typically 3 to 4 years or more, depending on how many papers you take per exam session.
ACCA allows students to attempt up to four exams per exam sitting and a maximum of eight exams in a year, but many students opt to take fewer exams each session, especially if they’re balancing studies with work.
3. Work Experience Requirement
Besides passing exams, you need to complete 36 months of relevant work experience to qualify as an ACCA member. This experience can be gained either while studying or after completing the exams. Many students choose to work and study simultaneously, gaining their work experience while progressing through their exams.
For students who already work in a relevant field, the work experience requirement may not add significant time to the overall course duration. However, for those who focus solely on studying before seeking work experience, it may take an additional 1 to 3 years after completing the exams to fulfill this requirement.
4. Self-paced Learning and Flexibility
The ACCA qualification is designed to offer flexibility. You can take the exams at your own pace and adjust your study schedule based on your personal circumstances. While some students opt to fast-track their way through the qualification, others might choose to space out their exams to maintain a healthy balance between study, work, and personal commitments.
5. Exam Availability and Retakes
ACCA exams are held four times a year, in March, June, September, and December. If a student passes all exams on their first attempt, they can complete the qualification faster. However, retakes might prolong the duration, especially if more than one exam needs to be retaken across multiple sessions.
Can You Shorten the ACCA Course Duration?
While the ACCA course is already structured for flexibility, there are some ways to potentially shorten the duration:
Maximizing exemptions: If you have a degree or relevant qualification, make sure to apply for exemptions, which can reduce the number of exams you need to pass.
Full-time study: Committing to full-time study can allow you to take more exams per session and complete the qualification faster.
Studying efficiently: Using effective study techniques, preparing well in advance, and focusing on passing exams on your first attempt can help reduce the overall time taken.
Conclusion
In summary, the duration of the ACCA course varies greatly depending on your starting point, study mode, work experience, and personal pace. Most students complete the course in 2 to 4 years, with some taking longer depending on their circumstances. Whether you’re a school leaver or a graduate, understanding the factors that influence the ACCA course duration can help you plan and manage your journey toward becoming a qualified ACCA member.
