ACCA Exemptions in Nepal: Which Papers Can You Skip Based on Your +2, BBA, or CA Background?

Planning to study ACCA in Nepal? If yes, you should know about the ACCA exemptions in Nepal that eliminate your need to start ACCA from scratch. ACCA exemptions remove the need for repeating courses and exams for students. The Association of Chartered Certified Accountants (ACCA) provides these advantages only if you have previous knowledge or have academic qualifications. Depending upon academic qualification and eligibility, you can receive multiple exemptions. These exemptions help you save months of time, remove loads and burdens, and save money on exam fees. 

This blog provides information about what ACCA exemption is and how ACCA exemption works in Nepal. You get information about your qualification and eligibility for ACCA exemptions based on experience and academic background.

What are ACCA exemptions?

ACCA exemptions are credits or waivers granted by the Association of Chartered Certified Accountants (ACCA) for students who have previous academic or experience related to their ACCA papers. Students are qualified or eligible for exemptions based on their expertise and academic qualification that matches the learning outcome of ACCA papers. 

The ACCA exemptions are applicable for both applied knowledge and applied skills-level papers. However, these exemptions are not automatic, and you are required to apply for exemption as an ACCA student. Once you submit your application along with academic documents and experience, the applications are evaluated, and exemptions are granted accordingly.

How ACCA exemptions save time and exam costs

The ACCA course is a globally recognized qualification that requires dedication, effort, and time. There are a total of 13 papers, and you require an average time of 3 to 4 years to complete the course in Nepal. However, if you are qualified for exemption and apply for it, you save your time and exam costs. It saves your time and exam costs by:

• In case of eligibility, applying for exemption saves your ACCA material and paper cost by NPR 16,000 to NPR 22,000, depending upon the paper and currency exchange rates. However, many paper require you to pay exemption fees 
• As you get exemption according to qualification up to 9 papers, it saves your time and effort by allowing you to enter directly at strategic professional level
• As you complete your course faster, it gives you time for early career progression and gaining higher experience. 

For students in Nepal, where the cost of living and income expectations matter, trimming even two or three papers from your journey can make a significant financial difference.

How it works: Up to 9 exemptions (Applied Knowledge + Skills)

While there are a total of 13 ACCA papers that students need to attempt, the exemption applies only to the Applied Knowledge and Applied Skills levels. The strategic professional level does not allow any exemption, and students are required to attempt 4 papers within the level. Meanwhile, applied knowledge allows a maximum of 3 exemptions, and the applied skills level allows a maximum of 6 exemptions. 

+2 students: Usually no exemptions, but early start benefits

Most of the intermediate or +2 students get no exemptions, or they are limited in comparison to BBA/BBS or master’s degrees. A-Level students or graduates with a finance and accounting background may get an exemption from the ACCA Foundation Diploma. Although there is no exemption, +2 students get early advantages when they choose ACCA as an option. The benefits of attempting the ACCA exam for +2 students include the following:

• Complete ACCA course and get relevant knowledge at early age
• Opportunity to get ACCA qualifications along with BBA or BBS qualifications
• Get competitive job advantage with finance, taxation, and accounting-related skills at early age

BBA/BBS graduates: Common exemptions based on Nepali syllabus

BBA or BBS graduate students in Nepal are exempt depending upon their university and syllabus. Students may be eligible for exemptions for papers like Business and Technology (BT), Management Accounting (MA), Financial Accounting (FA), and Corporate and Business Law (LW) depending upon their curriculum and course contents. The general guide for ACCA exemption for various courses and universities in Nepal includes the following:

CA (ICAN) students: Strong overlap with ACCA papers

A Nepali student with a CA qualification from the Institute of Chartered Accountants of Nepal (ICAN) has a high ACCA exemption rate, as the CA course strongly overlaps with ACCA papers. 

The mutual recognition of ICAN and ACCA makes Nepalese CA students eligible for receiving a maximum exemption of 9 ACCA papers. While ACCA students with ICAN CA qualifications waive Applied Knowledge and Applied skills papers, they must attempt 4 strategic professional-level exams. Below we provide some common ACCA exemptions based on your ICAN status.

Application process: How to apply via ACCA Global

To apply for ACCA exemptions, you are required to submit an application. Before submitting an application, ensure your eligibility using the official tools like ACCA Exemptions Calculator. Once your application is approved, you may get an exception for up to 9 papers depending upon your qualification. The ACCA application process is mentioned below:

Step 1: Check Eligibility

The first step during the ACCA exemption application process is to verify whether you are qualified or not. Go to the ACCA global website and access the Online ACCA exemption calculator. Fill in your experience or academic qualification details along with your university or course details. You get general information about the exemption you are eligible for after you submit the documents.  

Step 2: Register as a Student

For enrolling in the ACCA course and exemption, you are required to register yourself as a student. You are required to upload necessary documents such as transcripts and experience documents carefully. 

Step 3: Submit Documentation

For an ACCA exemption application, you must submit all required documents, such as academic documents and relevant experiences, again. Ensure submitting genuine documents in English format. 

Step 4: Pay Exemption Fees

Once your documents are submitted, the process for exemption carries forward following submission of exemption fees. While some FA1, FA2, MA1, and MA2 papers do not require exemption fees, most require exemption fee payments. 

Step 5: Confirmation

Once fees and documentation are submitted, your application is accessed and verified by ACCA. According to your qualification, your final exemptions are awarded. 

Fees: Exemptions still require payment

As we mentioned before, ACCA exemption still requires payment. While some papers such as FA1, FA2, MA1, and MA2 are free, most papers require payment equivalent to standard exam costs. Although these incur fees, the exam preparation expenses and requirement of a re-exam cost (if needed) save expenses. In addition to cost, it also saves time, effort, and the burden of multiple papers on students. You get time and opportunity to focus on a specific topic.

How Exemptions Shape Your Paper Choices

ACCA exemption significantly shapes your paper choices by giving you the opportunity to choose and prepare for papers with planning. Knowing exemption eligibility, you can choose particular papers that match your qualifications and save time applying for exemption. The remaining paper can be completed with proper prioritizing and planning. Meanwhile, considering the knowledge gap after choosing the exemption is important. If you have gaps, forfeiting exemption can be the best option so that you can start with base or foundational knowledge. 

Conclusion

Choosing ACCA exemption can help Nepali students to reduce exam time and burden if they have prior skills and knowledge related to the papers. The eligibility includes academic qualifications and experience such as a BBA/BBS, CA (ICAN), or some +2 qualifications like A-level. 

While +2 students get no or fewer exemption limits, they get the advantage of attempting and completing ACCA papers at a young age. They can attempt the ACCA parallel to other degrees like BBA and BBS. While ACCA exemption of most papers requires standard payments, it reduces exam burden, time, and expenses related to exam preparation and retakes. Also, in situations where your study gaps are high, forfeiting or not applying the exemption can be the best choice for building strong foundational or base knowledge.

If you are ACCA students looking for an exemption or not sure which paper to skip, Contact Seed Financial Academy. Seed Financial Academy is the leading ACCA institute and Nepal’s first platinum-approved learning partner of ACCA in Nepal that helps you to map your exemption based on your experience and qualifications. 

FAQs On ACCA Exemptions in Nepal

1. How many ACCA exemptions can I get in Nepal?

You can get a maximum of 9 ACCA exemptions, where you get up to 3 exemptions in applied knowledge and up to 6 exemptions in the applied skills level. Meanwhile, at the strategic professional level, you get no exemptions. The exemption you get depends upon your academic qualifications, course, and the university you have graduated from.

2. Do +2 students get exemptions in ACCA?

+2 students do not receive ACCA exemption in most cases, as their syllabus does not meet the ACCA papers’ standards. While some +2 courses, like A-level, might waive the ACCA foundation diploma, you are not eligible for exemption on 13 core ACCA papers.

3. Do CA (ICAN) students get more exemptions in ACCA?

Yes, CA (ICAN) students mostly get more exemptions during their ACCA attempts in Nepal. It is because the ICAN course overlaps with ACCA standards, and there is mutual recognition of ICAN and ACCA.