Pursuing the ACCA (Association of Chartered Certified Accountants) qualification is a popular choice for students in Nepal who aim to build a career in finance, accounting, or auditing. The globally recognized qualification opens doors to lucrative opportunities both within Nepal and abroad. However, one of the main questions aspiring ACCA candidates ask is: “How much does ACCA cost in Nepal?”
In this article, we will break down the ACCA cost in Nepal, provide insights into the cost of studying at various institutes, and explain the benefits of pursuing ACCA from reputed institutes like Mirchawala’s Hub of Accountancy.
What is ACCA?
ACCA is a professional accounting qualification that prepares students to become Chartered Certified Accountants. It is designed for individuals looking to gain expertise in accounting, auditing, taxation, financial management, and ethics. The ACCA qualification is recognized worldwide, making it an attractive option for Nepali students who want to work internationally.
Why Choose ACCA in Nepal?
Nepal has seen a growing demand for ACCA professionals in the financial sector. From multinational corporations to local businesses, many organizations seek ACCA-certified professionals. By earning this qualification, students in Nepal can enhance their career prospects both locally and globally.
The ACCA course is relatively affordable in Nepal compared to other countries, and students have access to numerous ACCA-approved institutes that offer high-quality training and support.
ACCA Fee Structure in Nepal
The ACCA qualification consists of 13 exams spread across three levels: Applied Knowledge, Applied Skills, and Strategic Professional. Apart from the exam fees, there are also registration fees and annual subscription fees that students need to consider.
Here’s a breakdown of the ACCA costs in Nepal:
Initial Registration Fees:
Students are required to register with ACCA Global before starting the course. The one-time registration fee is around £89 (approximately NPR 14,000).
Annual Subscription Fees:
Every ACCA student must pay an annual subscription to maintain their student status. The subscription fee is around £122 (approximately NPR 19,500) per year.
Exam Fees:
The exam fees vary based on the level of the exam:
- Applied Knowledge Exams: These include three exams: Business and Technology (BT), Management Accounting (MA), and Financial Accounting (FA). The cost per exam is around £125 (approximately NPR 20,000).
- Applied Skills Exams: This level consists of six exams, including Corporate and Business Law (LW), Performance Management (PM), and Financial Reporting (FR). The fees for these exams range from £140 to £150 per exam (approximately NPR 22,500).
- Strategic Professional Exams: The highest level of the ACCA qualification includes four exams, two of which are compulsory (Strategic Business Leader and Strategic Business Reporting), while the other two are electives. The cost of these exams is approximately £170 to £200 (around NPR 28,000 to NPR 33,000).
Exemption Fees:
If students hold a relevant degree or professional qualification, they can apply for exemptions from certain exams. However, exemptions come at a cost. The exemption fee is generally equal to the exam fee for each paper.
Learning Material and Tuition Fees:
The cost of learning materials, including textbooks and revision kits, is an additional expense. On average, students can expect to spend around NPR 10,000 to NPR 20,000 on study materials per level. Tuition fees at ACCA-approved institutes in Nepal also vary depending on the institution and the level of study.
ACCA Institutes in Nepal with Fee Structure
Several institutes in Nepal offer ACCA courses, providing students with the necessary training and guidance. Here’s a look at some of the popular ACCA institutes in Nepal, along with their fee structures:
Mirchawala’s Hub of Accountancy (MHA)
Mirchawala’s Hub of Accountancy is a reputed institute offering ACCA coaching in Nepal. Known for its experienced faculty and high success rate, MHA is one of the top choices for students. The institute offers various packages depending on the level of the ACCA course.
- Tuition Fees for Applied Knowledge Level: NPR 70,000 to NPR 80,000
- Tuition Fees for Applied Skills Level: NPR 80,000 to NPR 90,000
- Tuition Fees for Strategic Professional Level: NPR 90,000 to NPR 100,000
The fees at MHA typically include study materials, mock exams, and additional support classes.
The British College
The British College is another popular choice for ACCA students in Nepal. Known for its international partnerships and world-class facilities, this college offers ACCA coaching at competitive rates.
- Applied Knowledge Level: NPR 85,000
- Applied Skills Level: NPR 100,000
- Strategic Professional Level: NPR 120,000
Certified College of Accountancy (CCA)
CCA is a leading ACCA-approved learning provider in Nepal with a strong reputation for producing ACCA-qualified professionals. The institute offers flexible study options, including weekend and evening classes.
- Applied Knowledge Level: NPR 65,000 to NPR 75,000
- Applied Skills Level: NPR 80,000 to NPR 90,000
- Strategic Professional Level: NPR 95,000 to NPR 105,000
Sunway International Business School
Sunway International Business School is well-known for its focus on ACCA and offers a student-centered approach to learning. They provide one-on-one mentorship and have excellent pass rates.
- Applied Knowledge Level: NPR 70,000
- Applied Skills Level: NPR 85,000
- Strategic Professional Level: NPR 100,000
Additional Costs to Consider
When budgeting for ACCA, students should also factor in additional costs, such as:
- Revision Courses: Some institutes offer additional revision courses for an extra fee, typically ranging from NPR 5,000 to NPR 10,000 per subject.
- Exam Preparation Fees: Mock exams and additional support for exam preparation may also incur extra charges, depending on the institute.
- Travel and Accommodation: If students are attending classes in Kathmandu or other major cities, travel and accommodation costs should be considered.
Benefits of Pursuing ACCA from a Reputable Institute
Choosing the right institute for ACCA training is crucial for success. Institutes like Mirchawala’s Hub of Accountancy (MHA) and others listed above offer several advantages:
- Experienced Faculty: The quality of teaching at these institutes is excellent, with many instructors being ACCA members themselves.
- Comprehensive Study Materials: Institutes provide ACCA-approved study materials, including textbooks, revision kits, and access to online resources.
- Exam Success Rate: Reputable institutes often have higher pass rates for ACCA exams, thanks to their structured learning approach and dedicated support.
- Career Support: Many institutes offer job placement assistance and career counseling to help students secure positions in top firms.
Conclusion
Pursuing ACCA in Nepal is a significant investment, but one that offers immense returns in terms of career opportunities and global recognition. While the costs can vary depending on the institute and personal circumstances, it’s clear that students in Nepal have access to affordable ACCA training compared to other countries. Choosing the right institute, like Mirchawala’s Hub of Accountancy, ensures students receive the support they need to succeed.
FAQs
1. Is ACCA recognized in Nepal?
Yes, ACCA is globally recognized, and its qualification is highly valued in Nepal’s finance and accounting sectors.
2. What is the duration of the ACCA course in Nepal?
Typically, the ACCA course can take 2.5 to 3 years to complete, depending on the number of exams attempted each year.
3. Can I get exemptions in ACCA if I have a degree?
Yes, if you hold a relevant degree, you may be eligible for exemption from certain ACCA exams.
4. Is ACCA a good option for students in Nepal?
ACCA is an excellent option for students in Nepal who want an internationally recognized qualification with wide career prospects.
5. What are the job prospects for ACCA graduates in Nepal?
ACCA graduates in Nepal can find employment in multinational corporations, auditing firms, banks, and various industries.