Osmania University is a collegiate public state university located in University town, Hyderabad, India, and founded in 1918. It was established by and named after Mir Osman Ali Khan, the 7th Nizam of Hyderabad. It is the third oldest university in southern India, and the first to be established in the erstwhile Kingdom of Hyderabad. It is the first Indian university to have Urdu as a medium of instruction.
Osmania University is re-accredited by the National Assessment and Accreditation Council (an Autonomous Institution of the University Grants Commission) as 'A+' Grade University.
The University is the largest affiliated University of Asia with 720 affiliated colleges with an enrolment of 3.2 lakh students every year. As of 2019 the University also has 5155 foreign students from 87 different countries of the world.
ACCA is the world's most forward-thinking professional accountancy body. ACCA believes that accountancy is vital for economies to grow and prosper, which is why ACCA works all over the world to build the profession and make society fairer and more transparent.ACCA commenced in 1904 one of the oldest accounting bodies of the world. In 1974, ACCA received the UK Royal Charter, recognizing the excellent quality of ACCA’s core qualification.
ACCA have more than 219,000 fully qualified members and 527,000 students worldwide, they operate in more than 180 countries and have offices in more than 90 countries. ACCA follows a program of approved employers and currently has over 7000 approved employers to ensure that ACCA affiliates and members are able to get relevant jobs. They're among the world’s best-qualified and most highly sought-after accountants - and they work in every sector you can imagine.
Organizations know and trust our designation. We're out there every day, connecting with businesses large and small, governments, educational establishments, and opinion formers. We're on top of emerging trends, legislation, and legal requirements, helping to shape them.
Because of all this, we’re able to create the innovative, strategic-thinking accountants our fast-changing world needs.
With the advent of the new millennium of the 21st Century, it was seen that there is an emerging change in the field of business and finance due to which everything is getting globalized and is rapidly changing especially with the introduction of technologies like Artificial Intelligence, Blockchain, Robotics, etc., due to which the students at the undergraduate level is required to equip themselves with various professional skills.
In this context, the Department of Commerce of OU and ACCA came together and signed an MOU wherein the syllabus of Bachelor of Commerce (BCom) of OU was compared and it was identified that 5 out of the 13 ACCA exams are common and the students of Bcom from OU shall be given the benefit of these 5 papers not being written by the students.
This MOU between OU and ACCA shall be effective for the students from the Academic year 2019-2020 onwards.
Students pursuing Bcom from OU can claim exemption of 5 subjects out of the total 13 exam qualification of ACCA. Students can start studying and writing ACCA exams for the balance 8 papers while they are pursuing their Bcom. This provides an opportunity to the student to complete a professional accounting qualification by the time student finishes Bcom. So in effect the student can get one Bcom degree and an international professional accounting qualification ACCA in the same time of pursuing Bcom. (Read more about B.Com with ACCA).
The papers which are exempt are AB, FA, MA, TX, AA and the balance other 8 paper exams have to be written. The students should start their studies towards ACCA in the first year of their Bcom itself and prepare for 3 exams by studying the paper.
The moment the students enter the 2nd year of Bcom in the month of June, they should write these 3 exams which have prepared in the first year. After which they are left with 5 exams which should take 5 quarters or maximum 3 semesters. So therefore by the end of 5th semester the student has already completed ACCA qualification if all the papers are completed in one attempt. In case of non-clearance of exams the student anyway has 3 quarters available to write the repeat papers.
Students can take the required support for from Approved Learning Partner and ACCA coaching Institute like CFO NeXt to get to know more about this program and the teaching methodologies and successfully becoming an ACCA qualified accountant.
Therefore from the above it can be seen that such an MOU between OU and ACCA is beneficial to the students of OU to carry out a professional exam in a much better and faster mechanism to be job and future-ready.