ACCA exemptions and how to apply for them | CFO NeXt

ACCA Exemptions for MBA Qualified Students · F1 – Business and Technology (BT) · F2 – Management Accounting (MA) · F3 – Financial Accounting (FA) ... ACCAexemption cfonext October8,2021 ACCA ACCAeligibilityOctober1,2021JourneyfromCMAtoCFOOctober13,2021 Ifyoualreadyhavesomequalifications,youmaynothavetotakealloftheexamsintheACCAQualification.ThesearecalledACCAexemptionsandmeanthatyouwillstartyourstudiesattherightlevelforyourknowledgeandskill. Followingarethemostcommonexemptionsavailable: ACCAExemptionsforB.ComandM.ComQualifiedStudents ForstudentswhohavealreadyqualifiedB.Com/M.Com,theyhavetheexemptionsofACCAknowledgeleveli.e.F1toF3,andACCASkillleveli.e.F4subject. F1–BusinessandTechnology(BT) F2–ManagementAccounting(MA) F3–FinancialAccounting(FA) F4–CorporateandBusinessLaw(LW) ACCAExemptionsforBBAQualifiedStudents ForstudentswhohavealreadyqualifiedBBA,theyhavetheexemptionsofACCAknowledgeleveli.e.F1subject. F1–BusinessandTechnology(BT) ACCAExemptionsforMBAQualifiedStudents ForstudentswhohavealreadyqualifiedMBA,theyhavetheexemptionsofACCAknowledgeleveli.e.F1toF3subject. F1–BusinessandTechnology(BT) F2–ManagementAccounting(MA) F3–FinancialAccounting(FA) ACCAExemptionsforCAStudents: ACCAExemptionsforCAFoundationStudents Noexemptions ACCAExemptionsforCAIPCCQualifiedStudents ForCAIPCCqualifiedstudentsF1toF3subjectsareexempted,andF6&F8subjectsareexempted. IncasethestudenthasalsocompletedtheB.Com/M.cominadditiontoIPCC–HeshallalsohaveanexemptionofF4–CorporateandBusinessLaw(LW) F1–BusinessandTechnology(BT) F2–ManagementAccounting(MA) F3–FinancialAccounting(FA) F6–Taxation(TX) F8–AuditandAssurance(AA) ACCAExemptionsforQualifiedCAs ForCAFinalQualifiedStudentswithalltheKnowledgeandSkilllevelSubjectsareexempted.ICWA/ICMAIqualifiedstudentswillalsogetalltheexemptionsasmentionedabovesubjecttospecificworkingexperience. F1–BusinessandTechnology(BT) F2–ManagementAccounting(MA) F3–FinancialAccounting(FA) F4–CorporateandBusinessLaw(LW) F5–PerformanceManagement(PM) F6–Taxation(TX) F7–FinancialReporting(FR) F8–AuditandAssurance(AA) F9–FinancialManagement(FM) Noexemptionsareawarded: FortheStrategicProfessionalexamsoftheACCAQualificationor Onthebasisofworkexperienceor Foranyoftheexamsormodulesexaminedwithinourpost-professionalqualifications ACCAExemptionsletyoustartyourstudiesatalevelthatisconsistentwiththeknowledgeandskillsgainedfrompriorlearning.TheyprovideyouwiththequickestroutetoACCAmembership. ExemptionsApplicability–ExemptionsareavailablefortheentirelevelofAppliedKnowledgeandAppliedSkillsexaminationsdependingonthecandidate’squalification,buttheexemptionisnotallowedfortheProfessionalmoduleorbasedonone’sworkexperience.Inthespiritofimpartingthebestprofessionalknowledge,theACCAapexbodydoesnotallowtoavailexemptionsifthecandidatehasattainedthepreviousqualificationsalongtimebackorhasworkedinanyfieldexceptfinance/accounting.Also,existingstudentswhohavealreadyenrolledfortheACCAcoursecanclaimfreshexemptionsiftheyhaveattainedadditionalqualificationsinothercoursessubsequenttojoiningtheACCAcourseandhavenowbecomeeligibleforexemptionsintheACCAcourse. Processofclaimingexemptions–TheACCAcourseregulatorybodyhasmadeitveryeasytoclaimexemptionsforvariouscourses.TheimportantrequisitesareunderstandingwhichcoursesareexemptedbasedonyourpreviousqualificationandhavingnecessaryqualificationcertificatesinEnglish.Posthavingallnecessarypaperwork,onecanapplyforclaimingexemptionsonthewebsiteaswellasbyemailingthem. Feesforclaimingexemptions–Itisimportanttonotethatclaimingexemptioniscompleteonlywhenonehassuccessfullycompletedthepaperworkandhasmadetherequisitepayment.Thefeesandchargesrequiredtobemadearebasedonthelevelofcoursei.e.appliedKnowledgeorAppliedSkills.Also,onehastomakepaymentforeachpaperexemptionsought. Byallowingexemptions,ACCAcoursenotonlyrespectsthepriorhardworkofthecandidateinobtainingthesaidskillsandknowledgebutalsoactsasaboosttoexpeditetheprocessinobtainingthedualdegreewhichhelpsthecandidateinsteeringtheircareer,nottoforgetthesavingincost(feesforexemptionislessthanexamcost).AllthecandidatesmustrememberanimportantthingthattheACCAisaregulatorybodythatperformsverystrictscrutinybeforeallowingexemptions,andanywrongdoingistreatedsternlysoastonotallowanyfalseclaims. WhencanIclaimexemptions? Ifyou'vegainedadditionalqualificationsafterregisteringasastudent,youmaybeeligibletoclaimfurtherexemptions.Youcanapplyfortheseatanytime. ShouldIclaimmyexemptions? Exemptionsmeanyoudon'thavetostudythesametopicsthatyou'vealreadybeentaught.Thisisgreatifyou'verecentlyachievedaqualification,asit'sstillfreshinyourmind.OurprocessofawardingexemptionsisrigorousasweneedtoensureweareconfidentthatthepriorlearningmatchestheskillsandknowledgeneededfortheACCAQualification. However,ifyou'rethinkingofclaiminganexemptionbasedonqualificationsyougainedyearsago,oryou'vebeenworkinginafieldotherthanaccountancyforsometime,youmayneedtotaketheexam. Studyingfortheexamwillallowyoutorefreshyourknowledgeandensureyouaresufficientlypreparedforthehigher-levelexams,whichgointotopicsingreaterdepth. Ifyou'renotsurewhethertoapplyforanexemption,youcoulduseastudysupportresourcesfindertoaccesspastexamstotestyourknowledge.Ifyou'renotconfident,youcouldpasstheexamrightnowbut,youshouldstudyforandtakethatexam. Note: IfyourapplicationforACCAexemptionsisfoundtobebasedonthefalsedocument(s),ACCAmaytreatyourregistrationasnullandvoid.ThenyoumaybeadministrativelyremovedfromACCA’sregister.Ifyou’reremoved,forthisreason,youwillnotbeentitledtoarefundofanyregistrationand/orexemptionfee(s).IfyouregisteredasanACCAstudentpriortoJanuary2019andyourapplicationforexemptionsisfoundtobebasedonfalsedocumentsyouwillbeliabletodisciplinaryactionandfaceanallegationofdishonestconductbeforeACCA’sDisciplinaryCommittee.ThismayleadtoyourremovalfromACCA’sregister. RequestMoreinformation cfonext RelatedpostsApril8,2022SCOPEOFIFRSReadmoreMarch24,2022HowtoStudyandpassIFRSExamReadmoreMarch4,2022HowtostudyACCAwhileworking?Readmore LeaveaReplyCancelreply Youremailaddresswillnotbepublished.Requiredfieldsaremarked*CommentName* Email* Website Savemyname,email,andwebsiteinthisbrowserforthenexttimeIcomment. Openchat