The scope of ACCA is vast and a career in ACCA can transform your professional journey, equipping you with the skills and credentials needed to excel in the competitive world of finance. ACCA aims to offer business-relevant, first-choice qualifications to people of application, ability, and ambition seeking a rewarding career in accountancy, finance, management, or specifically, a career in ACCA.
Moreover, India is a rapidly growing global economy with a dynamic accounting and financial ecosystem. The ACCA professionals have carried over 5,000 jobs in a financial year. Still, the certification is new in India, and students are curious about their career prospects after completing the ACCA Course.
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How To Make A Career In ACCA?
Everyone is worried about building their career which is why they pursue professional certifications to land themselves a rewarding career. If you’re asking, Is ACCA difficult? know that like any prestigious qualification, it requires effort and commitment. Making a career after ACCA requires a candidate to pass all thirteen papers included in three broad levels – Applied Knowledge Level, Applied Skills Level, and Strategic Professional Level. Leveraging ACCA exemptions can make this process more manageable and tailored to your background.
Plan A Career in ACCA
One of the essential criteria before deciding on an ACCA career path is to explore the various job opportunities after ACCA. This way, you will get to know about the practical or technical skills, educational requirements, and personal attributes needed to build a successful career. Comparisons and prioritizing attributes will help you gain information regarding the flexibility offered by the course, its examination pattern, eligibility criteria, coaching institutes, and last but not least, the affordability factor. Then, decide what you will take up after a few years of investment in the ACCA course.
Study Simultaneously
Following a continuous course of study along with professional certification gives you an upper hand in availing better job opportunities after ACCA than your less competitive peers. However, it is not an easy job to multitask so, it completely depends on you whether you would like to study your certification course simultaneously to your degree or work.
However, the beauty of pursuing this course is that your work experience in the field of finance and accounting will add to the 36 months of work experience required as part of your Practical Experience Requirement (PER).
Networking
No doubt, specialized certifications help build industry networks that not only help in building strong careers but also gain valuable insights and opportunities within your field. Moreover, ACCA organizes webinars and alumni events on a regular basis where you will meet experienced professionals and ACCA members.
Skills for Landing a Good Career After ACCA
Possessing a certain skill set aligned with your field of study can significantly help you distinguish yourself in the job market. By developing and showcasing these skills, you can secure rewarding job opportunities after completing the ACCA qualification. Here are skills that can help you become more employable in a competitive job market.
Strategic Business Decision-Making
ACCA is purely an accounting and finance-based affiliation, which is why it is valued by employers. Likewise, the ACCA professionals have an upper hand in the case of employability for the commercial insights covered in the curriculum.
It is of great importance to at least gain basic knowledge of business administration along with a strong hold on the decision-making process. The skills learned during the ACCA course also help professionals strategize their business profits, opening the ACCA career path for freshers in finance and accounting domains.
Commercial Acuity
ACCA professionals have developed an understanding of commercial market trends during their course tenure. They also understand the fiscal behavior of businesses and their related entities, which helps them work out on increasing business revenue.
Innovation Potential
Thinking out of the box equips employers with innovative minds solving problems and brainstorming unique efficient ideas to increase business earnings. They are trained to understand work-related and organizational issues, to arrive at appropriate outcomes.
Industry-Specific Expertise and Compliance
An ACCA accounting professional must possess the most basic technical requirements, including up-to-date knowledge of industry regulations and market trends, to land ACCA jobs with leading firms and large investment companies. They should also be able to derive valuable insights from these trends and communicate them effectively.
Best Jobs After ACCA
Students have a variety of employment opportunities, nationally as well as globally. Jobs After ACCA course are diverse and in high demand, offering roles in various sectors. Also, ACCA salary in India is competitive, often reflecting the growing recognition and demand for ACCA-qualified professionals. Here is a list of the best accessible ACCA career paths to choose from.
Financial Reporting Analyst
ACCA professionals are highly sought after for Financial analyst job roles. They are familiar with the insights into the financial systems, processes, and controls used to record the growing volume of regular transactions. They also make budgets and financial reports to present their observations to bring out forecasts and insights from them.
Financial Reporting Analysts earn an average annual salary of 8.1 Lacs which can be more in other countries. It is one of the suitable ACCA jobs for freshers to enter in the industry.
Credit Control Manager
Out of many ACCA job opportunities, a Credit Control Manager’s role is among professional ACCA jobs. It is a highly responsible job as they have to manage an organization’s credit collection team and manage incoming capital. This can be from other businesses or individual consumers. Credit management is crucial for a company’s financial management as it keeps track of its capital.
The average base salary for a Credit Control Manager is 8 Lacs per annum.
Management Consulting
A management consultant is a specialist who enhances company performance by offering expert solutions. They can work for accounting and finance companies after ACCA completion or for consulting firms like McKinsey & Company, Boston Consulting Group, Bain & Company, or the Big 4 firms like PwC and Deloitte.
After ACCA job roles in management consulting firms have a median salary of more than 10 Lacs per annum. You can enter the industry as a consultant being one of many ACCA jobs for freshers as an intern.
Tax Accountant
Tax accountants offer advisory services on various tax issues to organizations and individuals. They specialize in tax preparation, creating tax return documents, and helping clients plan financial goals. Depending on their job, they may or may not need a bachelor’s degree in accounting but multinational companies expect their tax accountants to be licensed ACCAs earning 5 Lacs at least on a yearly basis which varies based on location and industry.
Forensic Accountant
The major applications of forensic accounting job roles appointing ACCA professionals include fraud investigations, negligence cases, and insurance claims. Subjects like forensic accounting and forensic investigation lay the foundation for such job roles earning almost 8 Lacs per annum.
Corporate Treasurer
A Corporate Treasurer is responsible for assessing a company’s capital reserves, determining if it can meet certain obligations, and creating financial strategies to improve the company’s finances. They advise on investment types and help determine where funds can be arranged if the company lacks sufficient capital for certain investments. The average base salary is 10 Lacs per annum. These above-mentioned job opportunities after ACCA are just some of the exemplifications and there are many more designations to work on. As the demand for skilled accountants is increasing, more and more ACCA jobs for freshers open every year. After ACCA jobs allow you to earn significantly more and allow you to start earlier than your non-certified peers.
Conclusion
FAQ’s
Is ACCA The Same As CA?
Any two certifications can hardly be the same, they may have similarities but cannot be the same. Similarly, CA is significantly different from ACCA in terms of course curriculum, examination structure, and career opportunities. CA focuses on the Indian financial and regulatory environment, while ACCA offers a global perspective, emphasizing international financial reporting standards and practices. It is designed to provide broader exposure to global accounting principles, suitable for those seeking international ACCA job opportunities in finance and accounting.
How Long Does It Take To Complete All Levels Of ACCA?
Gaining ACCA certification in less than 3 years is an optimum time period but on the basis of ACCA paper exemptions it could take less time as well, otherwise in unavoidable circumstances it can take more than 3 years to complete as well.
Who Is Eligible For ACCA?
The eligibility criteria for the finance and accounting career program are flexible, allowing students from any academic background, qualification, and experience to apply. The program requires 10th and 12th pass out, a degree or postgraduate, CA Intermediate, or CA, CMA with 5+ years experience.
What Qualifications Do I Need For ACCA?
A 10th-grade pass is a minimum qualification required, however, it is preferable to have a solid understanding of the foundations of accounting and finance. If not, things could get difficult until you grasp the course's concepts.
