Are you looking forward to making your career in finance that gives you a rewarding career in no time? Well, like you many students want to make a career in accounting and finance and dream to pursue either ACCA, CIMA or a CFA. But above all, many people go for ACCA which gives them potential wings to their career.
Being a member of the Association of Chartered Certified Accountants (ACCA)-the global professional body is a prestigious thing in itself.
There are approx. 188,000 members and 480,000 students in 178 countries who are registered as ACCA. This regulatory authority’s qualifications are considered superior and are highly recognized in comparison to different educations across the world.
The degree ensures that only high-caliber individuals have the potential to earn this globally recognized ACCA.
The ACCA professional examinations are conducted worldwide twice in a year, in June and December.
Eligibility Criteria to obtain ACCA
- Any nationality is entitled to pursue ACCA.
- Your age should be above 18 years.
- You must have qualified your 10+2 exam with an aggregate of 65% in Mathematics/Accounts and English and a minimum of 50% in other subjects.
- No graduation degree is required to pursue along with ACCA. You can clear 9 papers of ACCA to become a graduate.
- If you aim to switch your career and want to pursue your career in accounting. You are eligible to enroll yourself in ACCA.
Benefits of Pursuing ACCA
- Flexibility
ACCA gives you the flexibility in such a way that you can easily enroll yourself at any age and offers you online study material to study as per your own comfort. However, ACCA also conducts its offline classroom program as well where ACCA students can have a doubt clearing session with the experts.
You need to pass 3 GCSEs and 2 A Levels in 5 different subjects including Mathematics and English for getting entry into ACCA. However, other equivalent qualifications are also acceptable.
You can study for ACCA while maintaining a balance between studies and work. Since exams are held twice a year in June and December, there is no restriction on the number of attempts to qualify the exam.
However, there is a limit of a maximum of four exams in one attempt, you can choose any number of exams from 1 through 4. You can also skip one attempt if you feel you’re not prepared for it. The ACCA provides you complete freedom to qualify your ACCA exam in 10 years from the registration date.
There is no such pressure on you to enroll yourself in an institution or to take classes. Self-study using self-study textbooks and other study material is the best option to go for.
Completeness including Variety of Career Options
ACCA enhances your skills to be a master of both technical and management skills—that is essential quality to be a chartered accountant. The syllabus encompasses various fields such as business studies, auditing, taxation, law, professional and ethical issues, financial reporting, financial management and management accounting.
The qualification is meant to develop a variety of skills and competencies which prepares them to hold a key role or prominent positions in a wide variety of organizations.
For instance, you would consider working in audit, tax or advisory roles. You may decide to work as an in-house accountant or for a specialist firm, in a small and medium or a large organization. There is a huge demand for ACCA skilled accountants both in public and private sector and the scope is very extensive in any economic conditions.
- Cost Effectiveness
Having an ACCA degree serves as a highly cost-effective option for you to obtain knowledge and professionalism. The ACCA members not only have a grip of technical knowledge in accounting and finance but also have sound skills and decision-making capability in strategic and organizational management.
This blend of technical and management skills makes the best use of the career prospects of the ACCA members.
- Global Recognition
ACCA degree is globally recognized which means that it is strongly accepted from overseas multinational organizations, accounting bodies, educational institutes, governments, World Bank and the United Nations. That is why ACCA professionals can go and work in any part of the world.
- Based on International Standards
The ACCA qualification is based on international accounting and auditing standards and is IFAC compliant. This is why ACCA member is permitted to work in any country where these standards are recognized.
- Huge Demand for Skills and Knowledge of ACCA Members
Organizations look for those accountancy professionals who are proficient enough to understand their financial requirements and can easily examine and identify solutions. The ACCA qualified members possess essential knowledge and skills that are needed for finding and taking concrete business solutions.
- Permitted to travel and Work in any country
Earning an ACCA degree no longer restrict you to work in just one location. Since you have globally recognized qualification, you can work as far afield in Africa, North America or the Middle East.
This will carry an additional value for allowing you to understand the international jurisdictions which provide you with specialist knowledge in any other language. In short, ACCA offers you international exposure with unique benefits that can accelerate your overall career.
- Opportunity to augment income
There are various career opportunities available to you as an ACCA chartered accountant. You can bargain for a higher pay and secure your advancement to more senior positions. You need to express the additional value you can add, as a result of being an ACCA member.
As per the Robert Half Salary Guide —an average group accountant, working for a larger organization in the UK is expected to earn between £47,000 and £75,500 this year, while a cost accountant working for a smaller organization earns between £39,000 and £45,500. As an ACCA qualified accountant, you have more controlling power in your own hands to negotiate for a higher salary, as employers will be willing to hire your services.
- ACCA Accountants should continue their learning process throughout life
Earning an ACCA degree doesn’t mean that the learning process comes to a halt. Instead, you should invest your time in training, coaching and further leaning sessions in your career.
Since the accountancy nature is variable; as the finance function is the epitome of the business, the role of accountants is also changing with the ongoing advancement. As a result, it is necessary to keep up-to-date, learn new skills and techniques, and document your progress on your CV to highlight your commitment and achievements.
- Partnership with Employers
The ACCA has significant partnerships with employers across the world. ACCA has authorized over 8,500 employers which offer opportunities to ACCA members and students. The ACCA works in joint efforts with these approved employers to accelerate the career prospects of its members.
What are the subjects covered in ACCA?
ACCA course will cover the following subjects:
- Financial Accounting
- Financial Reporting
- Management Accounting
- Taxation
- Company Law
- Audit
- Assurance & Financial Management
On successful completion of up to 14 professional examinations and three years of supervised, relevant accountancy experience, it permits you to become a Chartered Certified Accountant.
What kind of Job opportunities you can look for with ACCA degree in hand?
ACCA offers you the following job opportunities:
- Financial Services: The course offers you extensive learning avenues that provide you with several job prospects in the financial world.
- Industry/Commerce: Working for an MNC, especially the Big Four offers you another profitable opportunity to accelerate your career.
- Public Sector: ACCA Professionals can also work for local government organizations, education and health department, 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.