ACCA-X Online Learning Programme Review
If you are looking for accounting classes for beginners covering accounting basics, here I am glad to share with you what you should consider before making your choice by quoting an example to illustrate my points.
Probably you don’t know me well. I am a member of ACCA (Association of Chartered Certified Accountants), a global recognized accountancy body headquartered in London with more than 200,000 members and 500,000 students worldwide. I’ve taught ACCA courses since 2009.
I am fully aware of what are the skills required in auditing, accounting and finance. I would like to share with you my experiences so that you have more understanding in planning your path to be a professional accountant or finance professional.
Define your objective before choosing accounting classes
Before finding accounting classes, you need to be clear of your objective. The objective should be straight forward and simple. No more than 2 objectives is suggested as they are your only reason to join the classes.
Here are some examples of objectives –
Having been in an accounting job but without proper accounting training and qualification, the classes could help your current role and qualification offers you a pay rise opportunity;
Not working in an accounting role but interested to switch into accounting as your future career;
Having a job now and not interested to work in accounting, but you want to know more about accounting so that you know what your accountants are talking;
No job or no working experience and would like to explore what is accounting and how is the career prospects.
Objectives determine your commitment to the study as well as your decision in which course that you are looking for.
ACCA-X Online Courses Outline and Structure
One of many accounting basics classes to be reviewed by me is ACCA-X, which is developed and launched by ACCA. Some of the online accounting courses offered by ACCA-X is free and they are for students starting their studies in accountancy, finance and business.
The courses are hosted on the edX.org, a platform founded by Harvard University and the Massachusetts Institute of Technology (MIT). And the course content is created by Epigeum, which was founded as a spin-out company from Imperial College London and is now part of Oxford University Press.
In April 2016, ACCA-X Online Courses won the Best eLearning and Online Education Award at the International and European Association Awards held in Berlin, Germany.
The program consists of seven courses while some of them are suggested to be gone through step-by-step. Seven Courses in 3 stages offered by ACCA-X are –
Introduction to Bookkeeping
Introduction to Management Accounting
Intermediate Management Accounting
Accountant in Business
Basically, there is no entry requirement for all subjects above. But if you are not working in accounting and finance or not ready to start out in finance, it is recommended to start your study in subjects under Stage 1.
Courses in Stage 1 and Stage 2 are six weeks long and ‘on-demand’ so you can start at any time you want. Courses in Stage 3 are 10 weeks long and you can start in January, April, July or October.
You are expected to spend about 5 hours per week for each course. The course content are not only theory but also many real live examples and cases are presented so that what you learn can be applied in your job as well.
All courses are offered tutor-moderated discussion boards, plus exciting and interactive content that is designed to support individuals to gain financial literacy skills.
For courses under Stage 3, weekly tutorial (Stage 3 only) live session are offered to students. If you cannot join the live session, a recorded session is also available.
Up to now, you may ask what is the price? All courses under Stage 1 and Stage 2 are completely free. For courses in Stage 3, each course is priced at US$89 (as at February 2019).
There is no certificate offered.
If you want a certificate as a proof, you need to register as an ACCA student and pass ACCA exams in Accountant in Business, Management Accounting and Financial Accounting.
In addition, you are required to complete a Foundations in Professionalism module which is an online, interactive module and no set time allocated. You can complete the module at your own pace.
When all of these are done, you will be awarded the ACCA Diploma in Accounting and Business. It is equivalent to a Certificate of Higher Education in UK National Qualification Benchmark (RQF Level 4).
What does the course work well?
Flexible is the number one advantage of this program. You can start from any course based on your committed study hours, knowledge and experience. If you are very committed, even you don’t have any background knowledge and related working experience, you can still study courses under Stage 3.
If you aim at professional qualification, the program is best fitted to you. You join the courses and then attempt ACCA exams. Once all the requirements are done, you can obtain the Diploma in Accounting and Business which is globally recognized. Many employers recognized the Diploma as a benchmark in the accounting skills and knowledge.
Each course is divided into different sessions and in the end of each session, there are plenty of revision questions for you to prepare ACCA exam. If you have any questions, you can ask in the discussion board and a tutor assigned in your course would help.
For courses under Stage 3, a weekly live tutor session is offered to learners and many students find it is very helpful because it offered interaction between students and tutor.
To me, the most fantastic part of ACCA-X Online Course is the course progress.
Your progress is updated after you join each session and complete the questions.
The progress towards ACCA exam is showed which is very useful in your study planning.
What do you need to consider before enroll the course?
If you are not committed to any professional qualification or diploma, it takes you about 8 to 10 months to complete all course works but no certificate. Honestly, it is disappointed.
In addition, total costs to have ACCA Diploma in Accounting and Business are not that low if you count all required expenses.
^ Assume GBPUSD exchange rate is GBP 1 = USD 1.3
All the fee information are referenced to ACCA website at 9 February 2019.
Frankly, if you are only looking for a certificate proving you have basic accounting knowledge and you are not interested to develop your career in accounting and finance, it is a bit costly to pay GBP 616 for it while there are some other online course options available in the market.
Should you join this program?
In my opinion, if objective #1 or objective #4 above is describing your situation, ACCA-X online courses are suitable to you. You need to have high quality accounting training and opportunity to get a professional qualification in your current or future accounting role. Besides, you commitment level should be the highest.
But if you do not plan to work in accounting and finance, there are many short term or medium terms courses available fitting your needs
Books you may be interested
Note: Some of the links in this page contain affiliate links. I will earn a small commission for any purchases you make, though there is no extra cost to you.
The products or services I recommend only I use them myself or after my investigation and truly believe they are useful to you. Don’t forget there are many other options out there – these are simply my preferred choices.