All You Need to Know About ACCA Exemptions After CA

The Association of Certified Chartered Accountants (ACCA) is a global accounting qualification. Just like CA, ACCA offers a practical approach to learning accounting and finance.

ACCA qualification is perfectly suited for people working in roles like auditing, taxation, and consulting.

All ACCA subjects are divided into 3 levels – Knowledge, Skills and Professional. Based on a student’s education level, he/she can avail exemptions.

This article will take you through ACCA exemptions for CA and ACCA exemptions based on all education levels.

What are ACCA Exemptions?

ACCA course has exemptions for Commerce graduates, postgraduates (MCom), Inter CA students, and CA qualifiers.

Exemptions mean you will not have to appear for certain ACCA papers. By getting exemptions, you can start your preparation from the right level and clear the certification quickly.

ACCA Exemption For CA and CA Inter Students Table

As a CA student, you can claim 9 exemptions out of 13 papers. The exempted subjects are

1. Business and Technology (BT),
2. Management Accounting (MA),
3. Financial Accounting (FA),
4. Corporate and Business Law (LW),
5. Performance Management (PM),
6. Taxation (TX),
7. Financial Reporting (FR),
8. Audit and Assurance (AA),
9. Financial Management (FM).

There are 5 ACCA exemptions for CA inter students. You can avail these exemptions only if you have cleared both groups of CA IPCC. The subjects exempted are Business and Technology (BT), Management Accounting (MA), Financial Accounting (FA), Taxation (TX), and Audit and Assurance (AA).

There are no exemptions for CA foundation students.

Additionally, if you’re a Bcom graduate or Mcom postgraduate, you get 4 exemptions in subjects of Business and Technology (BT), Management Accounting (MA), Financial Accounting (FA), Corporate and Business Law (LW).

Should You Claim ACCA Exemptions?

Here are some important factors you should consider when deciding to take exemptions:

• Recent Qualifications & Work Experience

You can claim exemptions if you have recently acquired a CA qualification or work as a CA. This is because all the topics will be fresh in your mind. 

• Time Passed Since Qualification

Avoid claiming exemptions if it’s been some time since your qualifications and you have not worked in the relevant job. Because of a long gap, you may have forgotten certain important topics. In such a situation, studying for the exam would make more sense as it can refresh your knowledge. 

• Assess Your Preparation

If you are unable to decide, consider referring to past exam papers and attempt to answer questions. Compare your answers with model answers; if confident in your abilities to pass the exam, claim the exemption or consider preparing for all papers. 

• Cost Consideration

Evaluate the financial aspect; claiming exemptions can save costs on study materials and tuition fees. However, an exemption fee equivalent to the exam fee for the paper must still be paid to the ACCA.

How to Apply for ACCA Exemptions?

There are two ways to apply for exemptions. Firstly, candidates can claim exemptions while registering on the ACCA website. There is a second option of emailing documents to ACCA.

You will have to provide official proof of your CA qualification along with award certificates or academic transcripts. The documentation should be signed by ICAI.

Based on the proof you submit, the ACCA will assess your qualifications and confirm or reject your eligibility for exemption.

If you have earned additional qualifications after registering for the ACCA course, you can apply for a renewal exemption. However, you have to apply for the exemption at least 20 days before the closing date of the exam entry.

Benefits of ACCA Exemptions After CA

There are various benefits of ACCA exemptions after CA:

• Time-Saving

Claiming exemptions in particular subjects saves significant time and allows you to expedite your ACCA journey.

• Cost Efficiency

By skipping certain exams through exemptions, CA students can save on expenses related to study materials, tuition fees, and examination fees for those specific papers. This cost efficiency is beneficial, especially for those managing tight budgets or seeking to minimize financial strain during their ACCA studies.

• Morale Boost

Exemptions recognize the educational achievements and expertise gained through CA qualifications. This itself is a huge confidence booster for students.

What are ACCA Exemption Fees For CA?

There is a fee to be paid for each subject exemption you claim. The exemption fee for the applied knowledge level exam is £84 per paper and the exemption fee for the applied skill exam is  £114 per paper.

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FAQs

Can I do ACCA after CA?

Yes. It makes sense to do ACCA after CA as you can learn IFRS, a globally accepted accounting system which is an integral part of the ACCA syllabus. ACCA qualification can provide you with global exposure and expand your horizons. Moreover, there are multiple ACCA exemptions after CA, helping you to expedite your studies.

Is it worth doing ACCA after Bcom?

Yes, doing ACCA after Bcom is a good option as it can give you good exposure to accounting and global trends in the field. You can even be eligible to get exemptions and expedite your qualification.

What is the expiry of ACCA exemptions?

The ACCA exemptions are said to be valid for a period of 5 years or until the date of the next specified revalidation exercise (whichever is sooner).