If you’re considering a career in accounting and finance, the ACCA (Association of Chartered Certified Accountants) qualification is likely on your radar. It’s a globally recognized credential that opens doors to a wide range of job opportunities in accounting, auditing, and finance. One of the most frequently asked questions about the ACCA program is: “How long does it take to complete?”
In this article, we will explore the ACCA course duration, factors that influence the length of the course, and tips for completing it as efficiently as possible.
What is ACCA?
Before diving into the details of the course duration, let’s briefly discuss what ACCA is and why it’s so highly regarded. ACCA is a global body for professional accountants, offering qualifications that are recognized by employers in over 180 countries. The ACCA qualification covers financial accounting, management accounting, taxation, law, auditing, and professional ethics.
The course is designed to equip students with the knowledge, skills, and professional values needed to excel in accounting and finance careers.
ACCA Course Structure
To understand how long it takes to complete the ACCA, it’s essential to know its structure. The ACCA qualification consists of 13 exams divided into three levels:
- Applied Knowledge (3 exams)
- Applied Skills (6 exams)
- Strategic Professional (4 exams: 2 compulsory and 2 optional)
In addition to the exams, candidates must also complete the Ethics and Professional Skills Module and have 36 months of relevant work experience.
ACCA Course Duration Overview
A. Minimum Course Duration
The ACCA course can be completed in a minimum of 2-3 years. This is based on the assumption that a candidate passes every exam on the first attempt and has already met the practical experience requirement during their studies or work experience.
B. Average Course Duration
For most students, the average duration to complete ACCA is 3 to 4 years. The flexibility of the course allows students to take exams at their own pace, which means that the actual time taken will vary depending on several factors, such as study time, work commitments, and exam scheduling.
Factors Affecting ACCA Course Duration
1. Educational Background
Your educational background can significantly influence how long it takes to complete the ACCA. If you have a relevant degree in accounting or finance, you may be eligible for exemptions from some exams in the Applied Knowledge and Applied Skills levels. This can potentially shorten the duration by a year or more.
For instance, students with a degree in accounting from an ACCA-accredited institution may receive exemptions for up to 9 exams.
2. Exam Preparation and Attempts
Passing each exam on the first attempt is crucial for minimizing the course duration. However, not everyone is able to clear all exams on the first go. Failing an exam means having to retake it during the next available exam session, which could extend your overall course duration.
3. Work Commitments
Many ACCA students pursue the qualification while working full-time or part-time. Juggling work and studies can slow down the pace at which you complete the exams. It’s essential to balance your study schedule with your work responsibilities to avoid burnout.
4. Study Mode
Your chosen study mode—whether full-time, part-time, or distance learning—will also affect how long it takes to complete the course. Full-time students typically complete the ACCA quicker than part-time or distance learners who may have other commitments.
How to Shorten Your ACCA Course Duration
1. Plan Your Exams Strategically
ACCA allows you to take up to four exams per sitting across four annual sessions (March, June, September, December). By planning your exams strategically and spreading them out evenly across the year, you can minimize downtime between exams.
2. Make Use of Exemptions
If you’re eligible for exemptions based on your previous qualifications, make sure to apply for them. This can significantly reduce the number of exams you need to take, shortening the overall duration of the course.
3. Dedicate Time for Study
Time management is key when pursuing ACCA. To complete the course in the shortest possible time, it’s essential to dedicate sufficient time to studying. Create a study plan that aligns with your work and personal commitments, ensuring that you’re able to cover the syllabus thoroughly before each exam.
4. Gain Practical Experience Early
Since the ACCA qualification requires 36 months of relevant work experience, it’s beneficial to start accumulating this experience while you’re studying. This way, you won’t have to delay receiving your ACCA membership after completing the exams.
FAQs about ACCA Course Duration
1. How long does it take to complete ACCA if I study full-time?
If you study full-time and pass all exams on the first attempt, you could complete the ACCA qualification in 2-3 years.
2. Can I work while studying for ACCA?
Yes, many students work while studying for ACCA. However, this may extend the time it takes to complete the qualification depending on how much time you can dedicate to exam preparation.
3. What happens if I fail an exam?
If you fail an exam, you will have to retake it in the next available exam session. This can extend the overall duration of the course, so it’s important to prepare thoroughly for each exam.
4. How many exams can I take per year?
You can take up to eight exams per year, across four exam sessions held in March, June, September, and December.
5. Can I complete the work experience requirement after passing all the exams?
Yes, you can complete the 36 months of relevant work experience requirement either before, during, or after passing your exams. However, starting your practical experience early can help you obtain your ACCA membership sooner.
Conclusion: How Long Will It Take to Complete ACCA?
The duration of the ACCA course depends on various factors, including your educational background, work commitments, and exam preparation. While it is possible to complete the course in as little as 2-3 years, most students take around 3-4 years to finish. By strategically planning your studies, making use of exemptions, and managing your time effectively, you can optimize the course duration and achieve your ACCA qualification in a timely manner.
In the end, ACCA is a flexible qualification designed to accommodate students with varying schedules and commitments, making it an excellent option for those looking to advance their careers in accounting and finance.
