ACCA Membership Made Simple: Steps To Get Started Now!

Members of ACCA are revered by employers and peers alike. The Associate of Chartered certified accountants have a global reputation of launching some of the finest, most reputed workers. With more than 252,500 members holding different positions and predicting 526,000 future members, ACCA is one of the leading accountancy bodies.

Becoming an ACCA member presents you as a reputed ethical financial expert. It ensures you have a realm of opportunities to choose from and support of mentors who push you to keep learning and updating your knowledge.

Note, an ACCA affiliate and ACCA member are two completely different qualifications. A person can only use the term ACCA in their qualification once they have completed all the necessary steps. Now, who wouldn’t want to be a part of a body whose goal is to build a profession that drives a sustainable future for all.

Let’s Understand The ACCA Membership Requirements First!

To become an ACCA member and enjoy all the benefits that come with it you need to complete 3 steps.

1. Pass All ACCA Exams

ACCA has 13 exams in total. These exams are divided across three stages – Applied Knowledge, Applied Skills, and Strategic Professional. Some of these exams can be skipped based on your previous education background, though the 4 strategic professional exams are a must for every aspiring ACCA student.

Also Read – ACCA Course Duration: For Graduates, CA’s, MBA’s & more

2. Complete the Ethics and Professional Skills Module

After completing all the exams, every student is required to complete the ACCA, 20 hours, ethics module. This unit is designed to develop your professional ethics, communication, and leadership skills which will prepare you to excel in the business world.

It’s an online, self-learning module that can be taken anytime.

3. Finish the Practical Experience Requirement

The last step to qualify for ACCA membership is to complete your PER. Herein you need to get 36 months of practical experience in a relevant accountancy or finance role. The prerequisites for gaining your PER are:

• • Achieve 36 months of relevant work experience: This work experience must align with the ACCA’s standards for professional development.
  • Complete Nine Performance Objectives: You will need to demonstrate that you’ve met nine performance objectives aligned with the skills required for membership. Proschool, India’s leading ACCA coaching program, recommends working at a CA firm or under an ACCA-approved employer. Their placement support cell connects you with appropriate employers to achieve your PER.
  • Get Your Experience Signed Off: All your experience must be verified and signed off by a practical experience supervisor who oversees your work.

Did you know, Proschool has 15+ Offline Centres across India! And we provide comprehensive ACCA Coaching + Job Support!

How To Apply For ACCA Membership?

Once you have successfully fulfilled all the aforementioned requirements you can apply for ACCA membership. The process for submitting your application is pretty easy.

1. In the myACCA portal click on ‘My Qualification’ present in the dashboard section. Here you will be directed to a pop-up inviting you to ‘Apply for membership’.
2. This button will take you to a window where you will see a box recording your qualifications. If you have finished all of them and dutifully recorded it, they will be marked as completed. If you find any area not showing completed check whether you have updated your profile.
3. Read through the checklist provided in the same window before applying. These include, checking and updating your contact details if required, disclosing any conviction or cautions you are charged with and lastly documents supporting your engagement in a public practice if applicable.
4. Next you may choose to fill your employment and qualification information or you may choose to skip it.
5. Then you fill in what private information you are comfortable sharing with the ACCA members directory.
6. Then read and confirm the declaration which includes your understanding of the ACCA admission fee.
7. Finally, you will receive a confirmation of your application.

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

Detailed Comparison: ACCA Affiliate vs. ACCA Member

Many people mix up ACCA Affiliate and ACCA Member, but these are two different statuses with distinct benefits. Here’s a quick breakdown to help you understand the differences:

While ACCA Affiliates have completed the exams, only ACCA Members have the full qualification. To transition from affiliate to member, you need to complete the Practical Experience Requirement (PER) and the Ethics and Professional Skills Module. Think of it as the finishing touch on your ACCA journey that opens the door to high-level opportunities and lets you proudly add “ACCA” after your name.

Also Read – ACCA PER | How To Get ACCA Practical Experience | Are 36 Months Enough? What Are The Objectives?

Benefits for ACCA Members in India vs. Abroad

ACCA membership is recognized in over 180 countries, but the benefits can vary depending on where you are. Here’s a look at some specific advantages for ACCA members in India compared to other popular regions like the UK, Middle East, and Southeast Asia.

• ACCA in India

  • High Demand in MNCs: With globalization, many multinational companies in India prefer ACCA-certified professionals for roles in accounting, finance, and auditing.
  • Cost Advantage: Pursuing ACCA in India is relatively affordable. The total cost, including tuition and exam fees, ranges between INR 2 to 3 lakhs, which is competitive compared to other professional courses.
  • Diverse Sector Opportunities: Indian ACCA members can work in sectors like consulting, auditing, and even in technology companies needing finance experts.

• ACCA in the UK and Europe

  • Higher Salary Packages: In countries like the UK, ACCA members can expect average annual salaries ranging from £30,000 to £50,000, depending on experience and role.
  • Tax-Free Income: In the Middle East, particularly in the UAE, professionals benefit from tax-free salaries, enhancing their net income.
  • Global Mobility: ACCA membership facilitates easier relocation and employment opportunities across different countries due to its international recognition.

• ACCA in the Middle East

  • Tax-Free Income: In countries like the UAE, salaries are tax-free, making the ACCA qualification financially rewarding.
  • Demand in Financial Services: The region’s growing financial services sector actively seeks ACCA members, especially in banking, consulting, and oil & gas.
  • High Expat Community: With a high concentration of expats, ACCA members benefit from a globally diverse work culture and networking opportunities.

In short, ACCA members have great opportunities in India and abroad, with specific advantages depending on the region. Whether you plan to work domestically or explore global options, ACCA membership keeps doors open.

Also Read – ACCA India Job opportunities, Scope & Salary for Professionals

Common Mistakes to Avoid on Your ACCA Membership Journey

Becoming an ACCA member is an achievement, but there are some common pitfalls that can delay or complicate your path. Here’s what to watch out for:

• Delaying Practical Experience Requirement (PER)

  • Common Mistake: Some candidates focus solely on exams and put off gaining practical experience.
  • Solution: Start building relevant experience early, even while studying. This makes it easier to meet the 36-month requirement without rushing.

• Not Completing the Ethics and Professional Skills Module on Time

  • Common Mistake: Some affiliates skip this step or wait until the last minute.
  • Solution: Prioritize the ethics module once you complete your exams. It’s a quick but crucial step toward membership.

• Forgetting to Document and Verify Work Experience

  • Common Mistake: Failing to properly document and get your experience signed off by a supervisor.
  • Solution: Regularly update your practical experience records and have your supervisor sign them off periodically to avoid backlogs.

• Missing Deadlines for Membership Application

  • Common Mistake: Many candidates are so focused on PER and exams that they forget the final membership application deadlines.
  • Solution: Keep track of all requirements in the myACCA portal, where you can check your progress and receive reminders.

By avoiding these common mistakes, you can streamline your journey to ACCA membership and avoid unnecessary delays.

Want someone to hold your hand throughout your ACCA Journey? Enroll with Proschool! Our Passing Rates are higher than the Global Average.

ACCA Membership Renewal and CPD Requirements

Once you become an ACCA member, you’re not done yet! To keep your membership active and credible, there are renewal requirements you need to fulfill every year. Here’s what’s involved:

• Annual Membership Renewal

  • Requirement: Members must pay an annual fee to maintain their ACCA status. As of 2024, this fee is £134, approximately INR 13,800.
  • Why It Matters: This fee contributes to ACCA’s support services, resources, and global reputation. Staying up-to-date on fees also ensures you don’t lose access to member benefits.

• Continuing Professional Development (CPD)

  • Requirement: Members must complete 40 units of CPD annually, with at least 21 units from structured learning activities. CPD helps you stay updated on industry standards, best practices, and emerging trends.
  • CPD Categories:
    • Structured Learning: Attend workshops, seminars, or formal courses relevant to finance and accountancy.
    • Unstructured Learning: Reading finance-related articles, attending ACCA webinars, or engaging in online learning.
  • Why It Matters: CPD is a commitment to lifelong learning, which not only enhances your skills but also showcases your dedication to employers. CPD ensures that you’re always in tune with industry changes, keeping you competitive and informed.

Maintaining your ACCA membership isn’t just about paying fees—it’s a continuous journey of growth and learning. ACCA provides multiple resources to help members fulfill their CPD requirements, making it easier to keep up with the changing landscape of global finance.

Also Read – Countries where ACCA holders have the signing authority

How Proschool Eases Your Journey to Becoming an ACCA Member!

Becoming an ACCA member is no easy task. It’s like climbing a mountain—challenging but incredibly rewarding. But what if you had a guide who knew the way, provided the right tools, and even gave you a lift up the steepest parts? That’s where Proschool comes in, making your path to ACCA membership as smooth as possible.

Here’s how Proschool’s unique approach and support can make all the difference:

• Cost Savings on Registration Fees and Training: Proschool offers financial relief by helping students save on registration fees and training costs. In a course as rigorous as ACCA, every bit of savings counts, especially when there are multiple exams involved.
• Assistance in Getting Exemptions: If you’re eligible for exemptions based on your previous education, Proschool can help you make the most of them. Skipping exams you don’t need to take is like getting a fast pass—letting you focus on what’s essential and cut down on exam time.
• Classroom Training in 10+ Cities: Prefer learning in a classroom environment? Proschool’s in-person training is available in 10 major Indian cities, so you can learn with peers and benefit from interactive sessions and personalized guidance.
• Exam Pass Commitment with Unlimited Support: Worried about passing? Proschool offers unlimited classroom and doubt-solving sessions until you clear the exams. Fail an exam? They’re there to help you bounce back and come stronger!
• Extensive Pool of Questions for Practice: Practice makes perfect, especially when it comes to ACCA exams. Proschool provides over 600 questions per subject to help you master each topic. It’s like training for a marathon by running with weights—by the time of the actual exam, you’re more than ready.
• Higher Pass Rate Than Global Average: Proschool’s pass rate for ACCA exams is higher than the global average. This means their training methods work—better than most!

FAQs

1. Till when is ACCA membership valid?

ACCA membership remains valid as long as you continue to meet the requirements, which include paying your annual subscription fee and fulfilling Continuing Professional Development (CPD) obligations.

2. Is it Necessary to Become a Member?

While becoming a member is not mandatory after completing your ACCA exams, it is highly recommended. Membership grants you global recognition, enhances career prospects, and provides ongoing access to ACCA resources and support.

3. Do I Have to Pay Every Year?

Yes, to maintain your ACCA membership, you are required to pay an annual subscription fee. This ensures you retain your status and continue enjoying membership benefits.

4. What Happens if I Don’t Become a Member?

If you choose not to become a member, you may miss out on key advantages such as career support, global recognition, and exclusive access to ACCA resources. Without membership, you may not fully leverage the value of your ACCA qualification.

5. What is the minimum salary of an ACCA member?

Salary of an ACCA member can vary depending on their location, job post and experience. But on average, an Indian ACCA member can start their profession as a fresher on a salary of INR 5 – 6 Lakhs per annum.

6. Which country pays highest in ACCA?

As per the poles of 2024, Germany and UK have the top most paying jobs for an ACCA.