Acca Per Exemption

[Shanta Plansinis]

Youcan choose to start again, or you can tell us the type of qualification you studied. For further assistance you can contact us at our global customer service centre by emailing stud...@accaglobal.com or call us on +44 (0) 141 582 2000.

If you intend to complete the BSc degree in Applied Accounting*, Oxford Brookes University gives credit for exemptions awarded to ACCA students for any of the following Applied Knowledge and Applied Skills exams:

If you're claiming your exemption(s), please be aware that these must be paid within 30 days from the date that exemptions are awarded to you. If you change your mind and decide to cancel some, or all, of your exemptions, you must notify ACCA within 14 days from the date that the exemptions were awarded or you will not be eligible for a refund or credit of the exemption fee. Please refer to the exemption terms and conditions before applying.

Exemptions mean you don't have to study the same topics that you've already been taught. This is great if you've recently achieved a qualification, as it's still fresh in your mind. Our process of awarding exemptions is rigorous as we need to ensure we are confident that the prior learning matches the skills and knowledge needed for the ACCA Qualification

However, if you're thinking of claiming an exemption based on qualifications you gained years ago, or you've been working in a field other than accountancy for some time, it may be more beneficial to take the exam. Studying for the exam will allow you to refresh your knowledge and ensure you're sufficiently prepared for the higher level exams, which go into topics in greater depth.

If you're not sure whether to apply for an exemption, use the Get Ready Modules to test your underlying knowledge of the subject. If you have significant gaps in your underlying knowledge, we would advise you to forfeit the exemption and sit the exam.

My dilemma now is whether to forfeit 3 of the exempt papers do the exams again so that It can prepare me for the advanced P papers or whether to just accept all the 9 exemptions and just do the P papers with hard revisions. Anyone ever had this issue before or can advice me?

Take as many exemptions as you can cause none of these papers can assure you a pass for P papers. Each ACCA paper is difficult and if you cannot clear any of these 3 papers you want to forfeit quickly enough, the longer you have to wait.

However, there is a reason ACCA has kept the option to forfeit their exemptions and that I think is primarily, flexibility to choose what one thinks is best suited for his/herself. Hence, there can be many reasons for some to consider forfeiting exemptions.

It is advisable to consult the syllabus and study guides for each ACCA exam that you are eligible to receive exemption from and consider whether you are entirely comfortable with the topics covered before accepting exemption.

If you intend to complete the BSc degree in Applied Accounting, please be aware that Oxford Brookes University gives credit for exemptions awarded to ACCA students for any of the Applied Knowledge exams, but a student must sit and pass the Financial Reporting (FR), Audit and Assurance (AA) and Financial Management (FM) Applied Skills exams to be eligible for the BSc degree. Oxford Brookes is not able to give credit for exemptions based on qualifications gained more than 10 years ago.

The graduates find it difficult to cope with the demands of the Advanced Level Papers (it is well known that University is not as challenging as ACCA as ACCA is a professional qualification). I know this since I have come across graduates who have been given 9 paper exemptions, giving their opinion that they are finding the P level papers very difficult while their friends who have been ACCA students from the start can easily manage the same papers. In fact, when talking with a faculty member of a University he had the same opinion as stated by the graduates.

Hence, I personally think it would be wise if you forfeit the exemptions of 3 papers Being 2 papers in accordance to which 2 optional papers you wish to take the advance version of and 1 of Financial reporting (prevoiusly F7) is a must then for SBR (the compulsory paper). However, that is for you to decide at the end of the day.

@lastfinanlist and easdledave. Thank you guys for your input on this. I can definitely the see point about doing an exam I have essentially passed 5 years ago again and it might take me longer to finish my acca.

@dollpals I studied accounting and finance at university. I also picked auditing and taxation as one of my options at uni hence why I am exempt from them. Though I am quite surprise they gave me taxation exemption as I am assuming things would have changed a bit in the tax world from 5 years ago.

I have friends who started from the Fs and they still fail at professional level at times. the Professional levels have an extended and larger syllabus so you do not gain much starting from the beginning

You save money, time and possible unsuccessful attempts on the exams . I would not be too negative about passing exams after 5 years. I have a degree and masters in accounting and just finished in 2017 and a still struggle to pass some papers at firts attempts. so you are not at a disadvantage at all

@aodukoya said:

@jetavi thank you for the motivation. May I ask if you are still studying at the moment/how far you are or if you are done and how long it took you/your own personal experience on the whole thing.

I am very traditional in my approach. I like going through theories etc, then I do the practice after. The downside is that I lose a lot of time trying to go through all texts but really not everything is needed. It is better to read a bit and understand the key topics then go straight to question practice, approx. 60-70% should be practicing exam papers.

many thanks for your reply. May I ask many exemptions did you get from ACCA (based on your CMA) and how many ACCA papers did you have to do at the end? I am just trying to gauge the time it will take me to complete ACCA..

This assessment will take approximately 15 working days to be completed and you will be able to view awarded exemptions in the exam status screen within your myACCA account. You will be contacted via email with the outcome of the assessment.

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>An invoice will be raised on your myACCA account for any awarded exemptions. Exemptions are charged at the early entry exam rate and are required to be paid within 30 days of being raised on your account. I have included a link below with the fees for these exemptions.

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> -career/fees.html

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>After the exemption request has been processed, you will then be able to enter for exams.

It was quite long ago, 2018 maybe. That time you had to pass 9 elementary ACCA papers + 5 professional. So for CMAs there was exemption for 7 of 9 elementary papers. I had to pass just F6 (taxation) and F7 (financial reporting) exams, plus 5 professional.

I will try to apply for ACCA exemptions based on my CMA qualification (plus my MBA) and see if that takes me near getting exemptions for all 9 papers from Applied Knowledge and Applied Skills section. That way I would only have to do the papers from the Strategic Professional Level, which I think I could complete in little over than a year.

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