Does your future seem too far away?
Are you mentally calculating the number of years left before you can start earning your first paycheque?
Would you be willing to speed up the pace?
As a commerce student, you are in luck. If you are preparing for a career in accountancy, there is a way to reach your goal quicker. After you are done with your 12th board exams, you can apply for the ACCA certification. It is possible to study for the course and your commerce degree simultaneously. It might seem like a daunting venture to take both of them on, but it is doable. There are many benefits to doing the ACCA program along with your B.com degree, as you soon shall see.
But hold on, don’t I get exemptions if I do the ACCA course after graduation?
Yes, you do. And agreed, the prospect of omitting certain papers can sound very enticing. As a graduate, you skip the first level and one exam from the next level. The possibility of four paper exemptions after graduation could stop some 12th-year students from doing the course. But here’s the thing you don’t know. The first four papers are similar to what is taught in your graduation syllabus. This should make it easier for you to prepare for both courses. It shouldn’t take you more than a few months to clear the first module. After that, you can move on to the next level while you are still an undergrad student. If you wait till graduation, you skip four papers, but you still have the rest of the course to take on, which will consume more of your time. It will also delay the start of your career.
How to become an ACCA member
The association of certified chartered accountants is the global standard of excellence in accountancy and finance. Once you are a part of this esteemed organization, you stand to benefit from the many opportunities available. However, to get there, you have to apply and study for all three levels. Here below are the ACCA course details.
- You should be 18 years or older
- You need to score a minimum of 65 percent in your maths or accounts paper and similarly in your English paper. The rest of your subjects need a score of 50 percent or more.
- To complete the ACCA course, you have to score 50 percent or more in each of the 13 exams across 3 modules
- You have to complete 3 years of experience within the accountancy industry. Your work requirement can be acquired before or after you finish the course.
Reasons to do the course with your degree
#1 The exams have flexible timings
Doing two separate courses together requires some very efficient time management. Luckily, the ACCA exam schedule does half the work for you. The exams are organized so that it is very convenient for a commerce student to manage.
- The first four ACCA subjects, F1, F2, F3 and F4, are computer-based, multiple-choice exams that can be taken on demand. So you can choose the dates that suit you, or where your college work is at a minimum.
- The rest of the exams can be taken in four installments during the year. You can take a minimum of one paper and a maximum of four papers in one sitting.
- You can register for exams when you are on college break, or have a good amount of free time to study. You can skip the exam sessions when your college tests are on. Or, choose fewer papers if you have a lot of work on your plate. How many exams you give, and when, is entirely up to you.
- There are no group exams, so you can decide your study plan accordingly
#2 The material will overlap with the B.com syllabus
Two courses can sound like they would require double the work, doesn’t it? Good news — it’s not. The first 9 subjects of the ACCA course will be fairly similar to your college syllabus. So very often the topics will overlap and you don’t have to study twice as hard to finish both courses.
If you complete your accountancy papers first, then the B.com papers will only need revision as preparation. So turns out, you don’t have to do that much extra studying.
#3 You can save up to 3 years of your time
Let’s say your stars align, your hard work pays off and you manage to complete both courses in record time. That means you get to add precious, salaried years to your career.
You could gain 3 years that you would have spent becoming an accountant. So, you get a head start on your career, and climb up the corporate ladder quicker. 3 extra earning years can result in so many opportunities coming you way sooner.
#4 You can start a job straight after graduate
During their graduation, most commerce students will be thinking about what to study next. Not you. You can start handing out your resumes to financial companies straight away. You can even be the first to get hired in your batch. By the time your peers catch up with you, you are already an experienced professional with an ACCA certification. Therefore, you are more likely to be promoted over them.
#5 A coaching institute can help you
If you choose to join a coaching institute, they will also help you manage your time and study plan. They will help you prepare the course material, clear your doubts and grasp concepts quicker and optimize your study time. Whether you need to take a mock exam or revise certain subjects, your teachers will have your back. You can physically attend the coaching classes or do the course online. Either way, you will receive the help you need so you can also focus on your degree side by side.
#6 You will be more qualified than your peers
When you have an ACCA qualification, employers sit up and take notice. They will know you have the skills and industry-specific knowledge they are looking for in a professional accountant. This will make you a better hire than other candidates who only have a commerce degree.
#7 It will look good on your resume
You managed to acquire two academic qualifications at such a young age. If this doesn’t hat impress potential employers, what will? It will also show you are good at multitasking, can handle intense pressure and meet your deadlines.
The ACCA course duration is around 2 to 3 years. This means you have to wait a while after getting your degree before you can start working. Commerce students who study for the ACCA course get a head start on their future. The qualification equips them with the technical and soft skills they need to become an expert in their field. If you choose to get the ACCA credential after your 12th year, it will be a delicate balance. You will have to organise yourself and work methodically. It will all be worth it as when you become a graduate, you are also a certified accountant.