Pursuing Chartered Accountancy with Limited Background in Commerce: Possibilities and Costs

Is it possible to pursue Chartered Accountancy (CA) with limited background in Commerce only? Yes, it is feasible, but the road may require additional effort and resources. The ACCA (Association of Chartered Certified Accountants) provides a pathway for professionals from various backgrounds to enter the accounting and finance sector. This article will explore the options available and the associated costs, tailored for individuals with a limited background in Commerce.

Introduction to ACCA Qualification

The ACCA Qualification is a globally recognized professional accounting qualification that is not based on a degree obtained from a traditional college or university. It is a knowledge-based qualification that demands a comprehensive understanding of accounting principles and practices. The ACCA courses are designed to be accessible to individuals with diverse backgrounds and experiences, including those with limited knowledge in Commerce.

Possible Paths for Limited Background in Commerce

For individuals with limited background in Commerce, ACCA offers a pathway through exemptions. If you have relevant work experience or have studied any Commerce-related subjects, you may be eligible for exemptions in some of the initial exams. This can significantly reduce the time and cost required to complete the qualification. Prior knowledge and experience in areas such as bookkeeping, financial management, or basic accounting principles can be valuable in obtaining these exemptions.

Comprehensive Costs Associated with the ACCA Qualification

The ACCA Qualification involves various fees, including registration, subscriptions, exemption fees, and exam entry fees. The detailed breakdown of these fees is as follows:

Registration and Subscription Fees

ACCA offers a structured pathway for ACCA students through different stages of registration and subscription fees. These include:

Initial Registration: ￡79 Re-registration: ￡79 Annual Subscription: ￡97

These fees help cover the administrative costs of maintaining your membership within the ACCA community.

Exemption Fees

Exemption fees are required if you are awarded exemptions from certain ACCA exams based on your prior knowledge or experience. These fees vary depending on the specific exemptions you obtain.

Exam Fees

The cost of each exam varies based on several factors, including the type of exam and the time of entry. Below is a detailed breakdown of the exam fees:

Applied Knowledge Exams (AB, MA, FA)

Fees for these exams are fixed and vary by exam. Some recent fees are:

September 2018 early entry: ￡100 September 2018 standard entry: ￡105 September 2018 late entry: ￡269

Applied Skills Exams (LW, PM, TX, FR, AA, FM)

These exams also vary by entry date, with additional fees for late entries. For example:

September 2018 early entry: ￡100 September 2018 standard entry: ￡105 September 2018 late entry: ￡269

Strategic Professional Essentials

Fees for these exams are structured similarly, with early, standard, and late entries having different costs. For instance:

Strategic Business Leader exam: ￡180 (early entry) to ￡298 (late entry) Strategic Business Reporting exam: ￡125 (early entry) to ￡298 (late entry)

Strategic Professional Options

Fees for these options exams are also categorized into early, standard, and late entries, with all options having similar costs per exam entry. For example:

Advanced Financial Management AFM: ￡125 (early entry) to ￡298 (late entry)

It's important to note that costs can vary, so it's advisable to check the ACCA official website for the latest fees and entry policies.

Conclusion

With careful planning and a strategic approach, individuals with limited background in Commerce can pursue and succeed in the ACCA Qualification. The pathway and associated costs can be navigated to achieve your career goals in the demanding field of accounting and finance.