How to study for an ACCA qualification for a fraction of the normal cost

An ACCA qualification is one of the most respected qualifications that can be attained in all professions. ACCA qualified accountants are held in great esteem and many of its members hold key positions in industry.

ACCA qualifications are however not cheap. It can be extremely costly and many of those studying are funded by employers or through scholarships. This is mainly due to the expensive tuition fees for the course that are provided in ACCA training centres throughout the country. Find out how to look for an accounting job while studying for an ACCA.

However, it is not necessary to break the bank to attain this prized qualification.

Self study

The alternative to attending classes is to study on your own. Below are various steps how this can be achieved:

Apply on ACCA website for student membership

Decide how many papers you are going to take in your first sitting (the Chartered Accountancy body may give you certain exemptions based on previous qualifications or work related qualifications)

Buy the textbooks to study the papers you have selected to do in your first exam sitting. Remember, couple of the papers (including paper 1.1) are often the most fundamental because it covers the basic tenets of accounting) can be done in any month through a computer based examination and not necessarily in June or December, the two usual exam sittings

Look for an accounting role whether in an employment or training position. A fully qualified ACCA accountant is required to meet practical experience to supplement his/her theoretical knowledge.

Costs of distance learning

Initial subscription fee of £57

Recurring annual membership fee of about £57 that entitles you to the monthly ACCA - a one-off payment that entitles you to monthly ACCA newsletter/magazine and other valuable information

An exam fee of £40 for each paper for part 1 (total of £120), £48 for each paper for part 2 (total of £288), £56 for each paper for part 3 (total of £280)

Text books can be bought either new for about £25 for each paper or used copies off Amazon & Ebay for about £10-15

Other exam related study material can also be bought to enhance learning. Again, used material can be found cheaper on Ebay and Amazon

Exemption fees are the same as examination fees

For those wanting to add an Oxford Brookes accounting degree in addition to qualifying for the ACCA, a fee of £50 needs to be made.The Financial Training Company provides an excellent ACCA distance learning package. Find the different ways to train to become a qualified accountant.

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