ACCA Exemption Calculator | ACCA exemptions you might get!

Did you know that when you study for the ACCA qualification, in certain cases you might not have to start the syllabus from scratch? Yes, this is possible if you’ve already completed certain qualifications, like a degree in accounting or relevant work experience that can make you eligible for exemptions. But what are exemptions? Well, exemptions simply mean you don’t have to take certain ACCA exams because you’ve already covered similar topics in your previous studies or work.

These exemptions can be a lifesaver as they can let you to save so much time and money by skipping exams you don’t need to take. Also, if you’ve already studied similar things before then exemptions can give you the confidence that you’re on the right track. In fact, the ACCA Exemption Calculator is a handy tool provided by ACCA official sources that helps you figure out which exams you might be exempt from based on your previous qualifications and experience. Sounds interesting right? 

So in this blog, we’re going to discuss more about ACCA exemptions by understanding why exemptions matter, how to use the calculator like an expert, any fees you might encounter along the way, and even share a handy list of institutes whose qualifications could score you some sweet exemptions.

Understanding ACCA Exemptions:

ACCA exemptions are like credits or waivers that allow individuals with certain qualifications to skip specific exams within the ACCA qualification framework. These exemptions are granted based on previous academic or professional achievements. 

The importance of ACCA exemptions for qualified candidates lies in several factors:

• Time-saving: Exemptions help candidates avoid studying topics that they’ve already learned. This allows them to focus solely on new and challenging areas of the ACCA syllabus and can significantly reduce the time needed to complete the qualification.
• Cost-effectiveness: By exempting candidates from certain exams, ACCA exemptions can lead to savings in terms of exam fees, study materials, and tuition costs. This is particularly beneficial for individuals who are pursuing further education while working or managing other financial commitments.
• Career advancement: ACCA exemptions allow qualified candidates to progress through the ACCA qualification more rapidly and therefore help in accelerating their career advancement opportunities. With fewer exams to complete, individuals can achieve ACCA membership and become fully qualified accountants sooner that’ll open up doors to higher-level positions and increase their earning potential.

But the most important question here is what are the eligibility criteria for ACCA exemptions? Let’s have a look at them

• Academic qualifications: Candidates may be eligible for exemptions based on completing relevant academic programs such as university degrees or diplomas that ACCA recognizes as equivalent to certain ACCA exams.
• Professional qualifications: ACCA also grants exemptions to individuals who hold certain professional qualifications or memberships from recognized accounting bodies. These qualifications must demonstrate a level of knowledge and skills comparable to the ACCA syllabus.
• Work experience: In some cases, candidates with extensive relevant work experience may be eligible for exemption from certain ACCA exams. ACCA assesses work experience on a case-by-case basis to determine its relevance and suitability for exemptions.
• English language proficiency: Since ACCA exams are conducted in English, candidates must demonstrate proficiency in the English language if their previous qualifications were obtained in a language other than English.

Also Read – ACCA Step by Step Registration Process

The following are given exemptions in ACCA exams:

• Fully Certified CA: Eligible to skip 9 papers.

• CA IPCC Level: Eligible to skip 5 papers (3 from Knowledge, 2 from Skills).

• CMA Certified: Drop 7 papers across the first two ACCA levels.

• BMS or BBA Degree in Finance: Qualify to skip the first 4 papers.

Now here is a list of some non-qualifiers of exemption:

• 10+2 pass-outs
• Still at the CA foundation level
• Received degree/certification over 5 years ago
• Unrecognized academic institution by the ACCA board
• The previous course didn’t cover foundation or skills level material
• Work experience but no accountancy qualification

Therefore ACCA exemptions play a crucial role in streamlining the qualification process and helping candidates to achieve their career aspirations more efficiently and effectively.

Want help with understanding relevant ACCA exemptions for you? 

Using the ACCA Exemption Calculator:

By now it’s clear that the ACCA exemption calculator is a helpful tool that helps candidates figure out if they can skip some exams based on their previous qualifications or not. 

But do you know the Step-by-step procedure on how to use the ACCA exemption calculator?

• Go to the ACCA website where you can find the ACCA exemption calculator.
• Enter details about your previous qualifications, like your degree or other relevant certifications.
• The calculator will analyze your qualifications and compare them to ACCA’s requirements.
• It will then show you which ACCA exams you might be exempt from.
• Make sure to review the exemptions carefully to understand which exams you won’t have to take.
• If you’re satisfied, you can proceed with your ACCA registration, knowing which exams you’ll need to focus on.

But wait, make sure you remember these input requirements and factors that are considered in calculating ACCA exemptions:

• Previous qualifications: You’ll need to provide details about your academic background, such as your degree or other certifications.
• Relevance: The calculator will assess how relevant your previous qualifications are to the ACCA syllabus.
• Content match: It will look at the content of your previous studies and compare it to what’s covered in ACCA exams.
• Level: The calculator considers the level of your qualifications and how they align with ACCA’s standards.
• Currency: It also takes into account how recent your qualifications are, as ACCA may require recent knowledge in certain subjects.

Once you’ve determined the exams from which you are exempted, it’s important to start your ACCA journey with proper support so that you are prepared for the remaining papers effectively. Therefore, to ensure you receive proper guidance and get to learn from top professionals in the industry make sure to consider exploring the ACCA coaching provided by IMS Proschool, where a new batch commences every month. With features like Exam Pass Commitment and Internship and Placement Support, IMS Proschool offers the necessary assistance for your ACCA preparation and career advancement.

By considering these factors, the ACCA exemption calculator helps determine which ACCA exams you may be exempt from, based on your previous qualifications.

Also Read – A Beginners guide to clear the ACCA exams

ACCA Exemption Fees:

Well, from the above sections, it’s clear that the cost of ACCA exemptions varies depending on factors such as the number of exemptions and the country you’re applying from. Generally, each exemption comes with a fee, and the more exemptions you apply for, the higher the total cost will be.

So it’s important to consider the long-term benefits of exemptions because while these exemptions can save you time by skipping exams you will need to weigh this against the cost of the exemptions themselves.

Well, so the following statements addresses the availability of exemptions for specific ACCA papers and outlines the associated fees for each:

• ACCA Qualification students: 

  • The fees for Applied Knowledge and Applied Skills exams are applicable per exemption granted.
  • Applied Knowledge exams, including Business and Technology (BT), Management Accounting (MA), and Financial Accounting (FA), may be accessible either as remote on-demand exams or at local Computer Based Exam (CBE) centers, contingent upon geographical location. 
  • Applied Skills exams include Corporate and Business Law (LW) (available only in markets where a local variant is offered as a sessional exam), Performance Management (PM), Taxation (TX), Financial Reporting (FR), Audit and Assurance (AA), and Financial Management (FM).
  • The exemption fee is £86 for remote on-demand exams or £84 at local Computer Based Exam (CBE) centers.
  • For Applied Skills exams, the exemption fee is £114 for remote on-demand exams or £111 at local CBE centers

• Foundation in Accountancy students:

  • Exemptions are provided free of charge for papers FA1, FA2, MA1, and MA2.
  • Exemption Fees for Other Papers: ACCA Diploma in Accounting and Business (RQF Level 4): Exemption fee is INR 7,762 or INR 7,581.
  • Certified Accounting Technician (CAT) Qualification: Exemption fee is INR 7,762 or INR 7,581, depending on the specific qualification.
  • Dip IFR (Global) exam: Exemption fee is INR 12,184.
  • These exemption fees are applicable for each ACCA exam for which you are granted exemption.

Before making any payment make sure to check the current fee structure on the ACCA website or contact ACCA directly for the most accurate information so that you fulfill all the requirements for the exemptions to avoid any complications in the process.

Did you know, Proschool helps its students get relevant exemptions plus gets the exemption fees waived off!

Well as a student, it can be quite challenging to first pay and secure exemptions from exams and then afford the high fees charged by institutions for ACCA coaching. However, there’s no need to worry because we’re here to recommend one of the top institutions for ACCA students. This institution not only offers reasonable fees but also provides numerous opportunities to its students like top placements in renowned companies like Big 4, TCS, Accenture, and Hindustan Times so that students can smoothly navigate through their ACCA journey and achieve success.

Yes, you can check out the ACCA coaching offered by IMS Proschool to ace your ACCA exam journey.

ACCA Exemptions University List:

Did you know that ACCA recognizes certain university qualifications that align with its syllabus and grants exemptions to students from certain ACCA exams? Yes, these qualifications can allow students to progress faster in their ACCA studies and even join universities that are recognized by ACCA for ease in preparation.

You can discover the list of universities acknowledged by ACCA for exemptions on their website but these are some of the many institutions recognized. Ahmedabad University, Bangalore University, Calicut University, DC School of Finance, Deccan Education Society’s Brihan Maharashtra College of Commerce (affiliated with Savitribai Phule Pune University), Hindusthan College of Arts & Science, etc.

• For example, Bachelors in commerce students of Ahmedabad University are exempted from the following papers:

• • Level 1: F1 – Business and Technology (BT)   F2 – Management Accounting (MA)   F3 – Financial Accounting (FA)
  • Level 2: F1 – Business and Technology (BT)   F2 – Management Accounting (MA)   F3 – Financial Accounting (FA)   F4 – Corporate and Business Law (LW)
  • Level 3: F1 – Business and Technology (BT)   F2 – Management Accounting (MA)   F3 – Financial Accounting (FA)   F4 – Corporate and Business Law (LW)

• For example, Masters in Business Administration students of Manipal University are exempted from the following papers:

• • Level 1: N/a
  • Level 2: F1 – Business and Technology (BT)   F2 – Management Accounting (MA)   F3 – Financial Accounting (FA)

• • Level 3: F1 – Business and Technology (BT)   F2 – Management Accounting (MA)   F3 – Financial Accounting (FA)

• For example, Masters in Commerce students of Bangalore Central University are exempted from the following papers:

• • Level 1: F1 – Business and Technology (BT
  • Level 2: F1 – Business and Technology (BT)   F2 – Management Accounting (MA)   F3 – Financial Accounting (FA)

• • Level 3: F1 – Business and Technology (BT)   F2 – Management Accounting (MA)   F3 – Financial Accounting (FA)

Here’s the simple procedure to find the official ACCA exemption university list:

• Visit the official ACCA website: Start by visiting the ACCA website.
• Explore the exemptions section: Look for the section related to exemptions or qualifications.
• Find the university list: Within the exemptions section, there should be a list of recognized universities and qualifications.
• Search or browse: You can search for specific universities or qualifications, or browse through the list to find relevant information.

Now that you know about the exempted universities let’s have a look at some tips for verifying exemption eligibility based on university qualifications:

• Check the current list: Make sure that you are referring to the most up-to-date list of recognized universities and qualifications provided by ACCA. These lists may be updated periodically, so it’s essential to verify the information.
• Match qualifications: Compare your university qualifications with those listed by ACCA. Look for similarities in the curriculum and topics covered. If your qualification closely aligns with ACCA’s requirements, you may be eligible for exemptions.
• Contact ACCA: If you’re unsure about your eligibility for exemptions based on your university qualifications, don’t hesitate to contact ACCA directly. They can provide personalized guidance and assistance regarding your specific situation.
• Gather necessary documentation: If you believe you are eligible for exemptions, make sure to gather all relevant documentation, including transcripts and certificates from your university. These may be required when applying for exemptions.
• Understand exemption rules: Familiarize yourself with ACCA’s rules and policies regarding exemptions. This includes understanding the maximum number of exemptions allowed and any conditions or limitations associated with them.

By following these steps and tips, you can effectively verify your eligibility for ACCA exemptions based on your university qualifications and ensure a smoother progression in your ACCA studies.

Conclusion:

As we come toward the end of this blog it is clear that understanding the ACCA exemptions and utilizing the exemption calculator are key steps in planning one’s ACCA qualification journey. The emphasis on using the ACCA exemption calculator cannot be overstated, as it acts as a useful tool for assessing exemption eligibility and mapping out the path toward ACCA qualification. Moreover, candidates are strongly encouraged to explore exemption opportunities to ease their ACCA qualification process. By taking advantage of their existing qualifications, candidates can save time and effort and ultimately fasten their journey towards becoming accredited ACCA professionals. 

Well, carefully using these insights and resources provided by ACCA will undoubtedly pave the way for a smoother and more efficient qualification journey. In fact, you can even seek guidance and assistance from reputable institutions such as IMS Proschool to further enhance the ACCA journey as they ensure that their students not only obtain the most useful knowledge but also receive the necessary support to explore and maximize the benefits of exemptions effectively.

FAQs

• How to attain 9 exemptions in ACCA?

Those who have accomplished CMA in India along with 5 years of relevant work experience can qualify for 9 ACCA exemptions.

• How many ACCA exemptions are granted with AAT?

Upon completion of AAT Level 4, you will receive the advantage of free exemptions for 3 ACCA papers at the Applied Knowledge level.

• Are ACCA exemptions free?

No, an exemption fee is charged for each ACCA exam for which you are awarded an exemption. Please note that exemptions from papers FA1, FA2, MA1, and MA2 are free of charge.

• How many CMA papers are waived after completing ACCA?

A CA/CMA professional can pursue the ACCA qualification through many institutions across India and may also be eligible for up to 9 exemptions. This implies they would need to take only 4 ACCA papers

• How many exemptions does ACCA provide for CIMA?

A candidate holding an ACCA certificate can receive 11 exam exemptions, allowing them to directly pursue the Strategic Level CIMA exam.