ACCA Exemptions For B.Com/ BBA/ CA Foundation/CA Inter/ CA Final/ MBA & How to Get Them

It’s no secret that the ACCA course can significantly boost your career in today’s financial landscape. Many professionals with post-graduate qualifications are also applying for an ACCA certificate to gain maximum career benefits. When competition is fierce and the path to success is crowded, then you need that extra edge to get ahead of your peers.

The ACCA is one of the top accounting qualifications in the world. On the last count, it is recognised in 179 countries, and the number keeps rising. This certification can lead to high-paying, top jobs with companies such as the Big 4, Accenture, HSBC, Tata-Grant Thornton and many more. It can open up doors to lucrative opportunities and widen your prospects.

There is just one tiny hitch. As a working professional, do you have the time and mental space to take on a course of this magnitude? Or is there a way to reduce the years it would take to get your valued ACCA stamp? Well, there is some good news on this front.

We all know that the ACCA course has three levels and 13 papers. It can take an average student three to four years to complete the course. However, your post-graduate credentials can help you shave off a few papers and save valuable time. However, the course has clear guidelines on who is eligible for ACCA exemptions.

Keep reading to see if your current qualification can help you get your ACCA certification quicker.

Why does the ACCA board offer exemptions?

Undergraduates must study for all ACCA exams without any exceptions. However, graduates and post-graduates get a little leeway in this regard. The board offers ACCA exemptions to those students who have done courses where the subjects overlap with the syllabus. This helps to fast-track your ACCA education and begin your career sooner. It is perfect for professionals who can’t do a full-fledged course and already come from a finance or accounting background.

How can you claim ACCA exemptions?

You have to apply for the exemptions when you enrol in the course on the ACCA website. You can click on the ACCA exemption calculator and submit the necessary information about your certification and the university from which you received it. If you match the criteria, you will receive the list of exams you don’t have to take.

In case, you add another certification to your name that could lead to more exemptions, you can upload your documents to the ACCA form. The board will charge you a fee for every exemption. More details are available on the official website. Remember to wait till you receive confirmation about your exemption before you pay your course fees.

Types of ACCA exemptions

The ACCA organisation is very strict about granting exemptions. Only those professionals who can prove they possess the knowledge and skills taught in the ACCA subjects are permitted to skip exams. Most certifications receive exemptions in the first two levels. All professionals and students must sit for the Strategic Professional level without exception.

Here below are some of the popular professional credentials that receive ACCA exemptions.

1. B.com or M.Com graduates

Most undergrad and postgrad commerce students have already studied the subjects covered in the ACCA Applied Knowledge module and one from the Applied Skills module. However, there is a comprehensive list of colleges in India recognised by the ACCA board. You will only receive exemptions if the ACCA acknowledges your university.

Applied Knowledge module exam exemptions:

• Business and technology (F1)
• Management accounting (F2)
• Financial accounting (F3)

Applied Skills module exam exemptions:

• Corporate and business law (F4)

Want help with getting ACCA Exemptions & Exemption Fees? Proschool Can Help You!

2. MBA graduates

It makes perfect professional sense for MBA holders to do the ACCA course. When applying, you’ll discover you are exempt from the knowledge module. There may be more if you have an MBA in finance and accounting. You can check the ACCA exemptions calculator to know exactly how many exams you can skip.

Applied Knowledge module exam exemptions:

• Business and technology (F1)
• Management accounting (F2)
• Financial accounting (F3)

Also Read – MBA with ACCA: Why it’s a winning combination

3. CA IPCC

CA foundation students have to take all the ACCA exams. Those in the second level of CA, or CA IPCC, get to skip the knowledge module, as well as two papers from the Applied Skills level.

Applied Knowledge module exam exemptions:

• Business and technology (F1)
• Management accounting (F2)
• Financial accounting (F3)

Applied Skills module exam exemptions:

• Taxation (F6)
• Audit and Assurance (F8)

Also Read – What You Need To Know About ACCA Exams | Exam Structure, Setting Timetables etc.

4. Final CA

Certified CAs have the biggest advantage when it comes to ACCA exemptions. Due to the overlap in syllabus between the two courses, students who have cleared the CA final exam can omit sitting for nine exams. You can skip the first two ACCA levels and only sit for the Professional level exams.

Applied Knowledge module exam exemptions:

• Business and technology (F1)
• Management accounting (F2)
• Financial accounting (F3)

Applied Skills module exam exemptions:

• Corporate and business law (F4 )
• Performance management (F5)
• Taxation (F6)
• Financial reporting (F7)
• Audit and assurance (F8)
• Financial management (F9)

Also Read – The Value of ACCA After CA – Unlock Global Opportunities

5. BBA degree

Students who have completed their graduation in BBA and want to study the ACCA course receive one paper exemption in the Applied Knowledge level.

Applied Knowledge module exam exemptions:

• Business and technology (F1)

Also Read – 10 Trending ACCA Job Profiles In India

6. CMA certification

CMA professionals get a whopping seven ACCA exemptions when they apply for the course. You can drop all papers in the Applied Knowledge level and skip four exams in the Applied Skills module.

Applied Knowledge module exam exemptions:

• Business and technology (F1)
• Management accounting (F2)
• Financial accounting (F3)

Applied Skills module exam exemptions:

• Corporate and business law (F4)
• Performance management (F5)
• Audit and assurance (F8)
• Financial management (F9)

Also Read – Countries where ACCA holders have the signing authority

7. BMS degree in Finance

A bachelor’s degree in management studies can be your ticket to skipping the entire knowledge level you qualify to skip the first four papers in the course.

Applied Knowledge module exam exemptions:

• Business and technology (F1)
• Management accounting (F2)
• Financial accounting (F3)

Applied Skills module exam exemptions:

• Corporate and business law (F4)

Get dedicated ACCA revision classes, placement prep & assistance, free financial modelling and much more with Proschool’s ACCA Coaching

Who doesn’t get any ACCA exemptions?

• Students who haven’t completed their 12th year.
• Students who have done a professional course from an unknown university.
• CA foundation course students will have to take all exams.
• Professionals who have work experience but lack the educational qualifications.

Here’s How Proschool Helps You Get ACCA Exemptions & Ace The ACCA Exams

One of India’s most respected coaching institutes, Proschool is also an ACCA-approved learning partner. This means a lot of things. Firstly, you get the latest, updated course material. Secondly, you receive relevant information about the ACCA exams. Next, the registration and ACCA exemptions are waived.

That’s not all! When you enroll at Proschool, you are taught by industry professionals who use active learning methods and innovative training techniques that enhance your educational experience. Working professionals with busy schedules find learning easier at Proschool as all processes are streamlined and the staff are highly efficient.

Advantages of learning with Proschool:

• There are multiple coaching centres across India as well as online classes available.
• Students don’t have to pay registration or exemption fees.
• The institute offers five mock tests and around 2,000 practice papers to help students prepare for the exams.
• Professors provide personalized attention and doubt-clearing sessions.
• Proschool students can access the placement portal, which has hundreds of job openings.
• There is also recruitment-based training where students improve their interview and resume writing skills.

FAQs

• How do I find out which exemptions I qualify for?

Visit the official ACCA website or visit the ACCA exemption calculator. This handy tool will ask questions about your qualifications and grant you your ACCA exemptions if applicable.

• What are the fees for ACCA exemptions?

All papers in the Applied Knowledge level are charged at 86 GBP each. The exams in the Applied Skills level are 114 GBP each.

• How do I avoid paying the ACCA exemption fees?

If you enroll with an approved learning partner such as Proschool, you can get your registration and exemption fees waived. Otherwise, you will have to pay the listed price per paper.

• What if my university or degree is not listed on the ACCA exemptions calculator?

Then the ACCA organization will not grant you the exemptions immediately. You can email your documents to the email ID provided and see if they change their minds.

• What documents do I need to apply for ACCA exemptions?

The organization will require official documentation to prove your qualifications. You will need to upload copies of your certifications. In case any of the paperwork is not in English, you will also have to provide official, stamped copies of translations done by a professional interpreter.

Conclusion

The ACCA course is one of the world’s best accounting programs. It’s no surprise that many professionals, including MBAs and CAs, are signing up to get their certificates. An ACCA qualification can get you hired in over 160 countries in high-paying jobs across all major financial institutions. If that deal is sweet enough, you don’t even have to take all the exams if you have a relevant degree or certification. The ACCA exemptions will help you get certified faster and jump-start your financial career.