Want to make your career in finance and aim to climb up the corporate ladder in less time? Well, like most of the students it becomes difficult for you to decide on a career. Why choose ACCA? Well, this article makes you informed on the potential benefits of seeking ACCA as one of your career options.
Becoming a member of the Association of Chartered Certified Accountants (ACCA)-the global professional body gives wings to your career.
ACCA is a recognized organization within the finance sector, having over 188,000 members and 480,000 students in 178 countries. The ACCA body is a benchmark against different education levels across the world which ensures only high-caliber individuals become ACCA accountants.
ACCA conducts its professional examinations worldwide twice in a year, June and December.
Eligibility Criteria to pursue ACCA
- Any nationality is eligible to pursue ACCA.
- You should have completed 18 years of age and must have passed 10+2 exam with an aggregate of 65% in Mathematics/Accounts and English and a minimum of 50% in other subjects.
- You don’t need any graduation to pursue along with ACCA. Just by clearing 9 papers of ACCA makes you graduate.
- If you are willing to work in the accounting field in the midst of your career. You can easily enroll yourself for ACCA.
Advantages of Choosing ACCA
1. ACCA provides flexibility
ACCA offers flexibility. Its entry requirements and study options are very flexible. You can study on your own at your own comfort as you study online ACCA. It also has classroom programs (offline) which give you a room for doubt clearing sessions from experts. This is available both online and offline.
3 GCSEs and 2 A Levels in 5 different subjects including Mathematics and English are required for entry to ACCA Qualification. If you have other equivalent qualifications, they are also acceptable.
You can also pursue ACCA by striking a fine balance between studies and work. Since examinations are held twice a year in June and December. There is no specific requirement of minimum number of exams to be attempted. Whilst there is a limit of maximum of four examinations in one attempt, you can select any number of examinations from 1 through 4. If you are not keen to sit in any attempt, you can also skip it. The ACCA offers you full freedom to complete your ACCA qualification in 10 years from the date of registration.
No such specific need arises for you to get enrolled in an institution or to take classes. You can do self-study using self-study textbooks and other study material. Whilst you are advised to take classes, which is not mandatory.
2. Comprehensiveness Including Myriad Career Options
ACCA promotes you to be a jack of all trades, which means you need to be a master of both technical and management skills –that is a necessity of a chartered accountant. Its syllabus covers fields such as auditing, taxation, business studies, law, professional and ethical issues, financial reporting, financial management, and management accounting. The qualification develops a wide range of competencies and skills which prepares them to work in a wide variety of organizations and in key roles.
For instance, you would prefer working in tax, audit or advisory roles. You may choose to work as an in-house accountant or for a specialist firm, in an SME or a large organization. The skilled ACCA chartered accountants’ demand is huge, in both the public and the private sector. The scope is extremely profound in any economic conditions whether boom or bust.
3. Cost Effectiveness
Earning an ACCA qualification is a very cost-effective option for you to gain knowledge and professionalism. The ACCA members not only derive technical knowledge in accounting and finance but also derive valuable skills in strategic and organizational management. This combination of technical and management skills leverages the career prospects of the members.
4. Worldwide Recognition
ACCA qualification has international recognition. The qualification has gained strong recognition from its healthy relationships with overseas accounting bodies, multinational organizations, educational institutes, governments, and organizations such as the World Bank and the United Nations. This means that an ACCA professional can work in any part of the world.
5. Based on International Standards
The ACCA qualification is subject to the international accounting and auditing standards and is IFAC compliant. That means ACCA member can work in any country which accepts the ACCA standards.
6. Higher Demand for Knowledge and Skills of ACCA Members
Organizations search for those accountancy professionals who can understand their financial needs and can easily evaluate and propose solutions. The ACCA members demonstrate their knowledge and skills when it comes to finding and evaluating business decisions.
7. Allows you to travel and Work in any country
With ACCA qualification in hand, there is no restriction to work just only on one location. Since your qualification is internationally recognized, you can work as far afield in North America, Africa or the Far East.
This will have the added benefit of permitting you to understand international jurisdictions, offering you with specialist knowledge and potentially another language. In short, ACCA gives you international exposure with unique benefits that can advance your whole career.
8. Opportunity to earn more
As an ACCA chartered accountant, you have various avenues to turn to your advantage. You can negotiate for a higher pay and secure your advancement to more senior roles. You are required to demonstrate the additional value you can add, as an outcome of being an ACCA member. According to the Robert Half Salary Guide —an average group accountant, working for a larger organization in the UK is estimated to earn between £47,000 and £75,500 this year, while a cost accountant who works for a smaller organization earns between £39,000 and £45,500. As an ACCA qualified accountant, you have more steering power to negotiate a salary in the upper end of these brackets, as employers will be interested to secure your services.
9. ACCA Accountants should keep on learning
Just by adding ACCA in your CV doesn’t put a stop to your learning progress. Instead, you should view training, coaching and further learning advancement as an investment in your career. Since the nature of accountancy is variable; as the finance function comes even close to the center of business, the role of accountants is also changing with the rapid advancement. As such, it is relevant to keep up to date, learn new skills and techniques, and document your progress on your CV to show your dedication and achievements.
10. Partnership with Employers
The ACCA has relevant partnerships with employers across the world. ACCA approves over 8,500 employers which offer opportunities to ACCA members and students. The ACCA works in collaborative efforts with these approved employers to boost up the career prospects of its members.
Who should do ACCA?
Those students who have a flair for mathematics and statistics can go for ACCA. You can develop core accounting skills from pursuing ACCA. This qualification boosts up your understanding and knowledge in this field. ACCA helps you get a flourishing and rewarding career.
Subjects Covered in ACCA:
• Financial Accounting
• Management Accounting
• Financial Reporting
• Company Law
• Assurance & Financial Management
Upon completion of up to 14 professional examinations and three years of supervised, significant accountancy experience, it allows you to become a Chartered Certified Accountant.
ACCA helps you fetch the job opportunities in the following sectors:
• Financial Services: The course offers you detailed learning options that open up the variety of job prospects in the financial world.
• Industry/Commerce: Working for an MNC, especially the Big Four serves another lucrative opportunity for your career.
• Public Sector: ACCA Professionals can also work for education and health department, local government organizations and non-profit organizations.
And if you are ACCA qualified or ACCA intern, our Nexa Accountant team welcomes you for a rewarding career with us for a longer term.