Scope of ACCA in India: Explore the Career Opportunities

ACCA is a highly reputed qualification and it is gaining much recognition in India but still, it is considered a new certification. Many commerce students are becoming aware of the professional certifications coming their way. 

So students are curious to know more about it, the choice of career after ACCA, and ACCA salary in India. Let us explore the scope of ACCA in India including various job opportunities across industries.

ACCA: An Overview

The Association of Chartered Certified Accountants, or ACCA, is a well-known global accounting organization. It offers the certification to equip professionals with the abilities and know-how needed to be successful in the accounting and financial industries. With a long history that dates back to 1904, the ACCA has made a name for itself as a renowned and widely accepted credential. It is an invaluable tool for anybody looking for international job prospects in the accounting domain.

The extensive ACCA curriculum covers all topics related to finance and accounting. For example, the syllabus includes management and financial accounting, taxation, financial reporting, audit and assurance, corporate planning, business technology, and strategic business reporting. The aspirants are prepared to tackle the real-world problems of the accounting and finance industries and are well prepared to think out of the box to overcome these problems.

The widespread recognition of the certification is one of its main benefits. The ACCA degree opens doors to new ACCA opportunities in India and globally across various sectors. It is valued and respected by employers worldwide. Having an ACCA certification greatly improves your employability. Regardless of your career goals, you are qualified to work for financial institutions, public accounting companies, or global organizations.

Why is ACCA Certification Important?

ACCA is a globally recognized and respected qualification that offers a wide range of ACCA career jobs for professionals to work anywhere in the world. ACCA has 252,500 members and 526,000 students in 180 countries. The credential is proof that ACCA professionals are experts in strategic thinking, technical skills, and professional values making them most sought after by employers. 

ACCA Applied Knowledge Level exams can be taken on demand, allowing students to progress through their qualifications at their own pace. ACCA members can also join the global network of over 219,000 members connecting them with thousands of like-minded finance professionals worldwide.

You may pursue any path in your profession when you study with ACCA. You get access to the most intriguing and excellent professions available globally. And with that, you turn into one of the highly sought-after financial experts that our rapidly evolving globe needs. The goal of the ACCA Coaching offered by edZeb in Delhi and online all over India, not only to instruct but to train you. In order to help students apply their knowledge to real-world issues, it offers a wealth of real-world examples. Over 179 nations recognize ACCA certification offering a worldwide career after ACCA in multinational corporations providing lucrative jobs. 

What is the ACCA Scope in India?

Certifications like ACCA are trending in India these days among commerce students. They are becoming aware of modern professional credentials equipping them with industry-specific knowledge and practical skills. Moreover, everyone is aware of the importance of application-based learning especially in the finance and accounting industry. 

Due to this, skilled professionals are hired for their global perspective, and practical expertise. They can adapt to evolving industry demands making them valuable assets in today’s competitive business environment. It results in an increasing number of students turning their heads to earning ACCA credentials rather than choosing a conventional course of theoretical study programs.

After spending around 3 to 4 years to gain ACCA certification, you will be qualified to work for multinational corporations, accounting firms, government agencies, and non-profit organizations. As an ACCA-qualified professional, you will be adept in financial management, auditing, taxation, and strategic business management. This certification allows you to use your skills in diverse and dynamic environments while contributing to the financial integrity of the organization. Below are some of the common job positions for ACCA professionals in India hinting at the wide scope of ACCA in India.

Accountants

are responsible for maintaining financial records, preparing financial statements, managing budgets, and ensuring compliance with tax regulations at an average salary of ₹3,00,000 to ₹6,00,000 per annum.

Financial analysts

are responsible for analyzing financial data, creating financial models, forecasting future financial performance, and providing insights for business decision-making. Their average salary ranges from ₹4,00,000 to ₹10,00,000 per annum initially.

Tax Consultant

specializes in tax planning, compliance, and providing advice on tax-related matters to individuals and businesses, depending upon his nature of work. They earn an average salary of ₹5,00,000 to ₹12,00,000 per annum.

Internal Auditor

evaluates the effectiveness of internal controls, risk management, and governance processes within an organization offering an average salary from ₹6,00,000 to ₹15,00,000 per annum.

Financial Manager

oversees financial operations, develops financial strategies, prepares budgets, and manages financial reporting. They earn ₹8,00,000 to ₹20,00,000 per annum salary on average.

A Compliance Officer

is hired to ensure that financial institutions comply with external regulations and internal policies. It involves risk management and reporting. They work at an average salary ranging from ₹6,00,000 to ₹18,00,000 per annum.

The Finance Controller

is the head of the finance department. He is responsible for financial reporting, budget management, and financial strategy development. Their salary ranges from ₹10,00,000 to ₹25,00,000 per annum on average.

Chief Financial Officer (CFO)

is an executive-level position. The professional in this position is responsible for the overall financial strategy, risk management, and financial performance of the organization. Their average salary ranges from ₹20,00,000 to ₹50,00,000+ per annum.

ACCA professionals are hired for various job positions apart from the ones listed above as well. The scope of ACCA in India is vast, offering opportunities in diverse sectors such as banking, consulting, audit firms, corporate finance, and risk management. 

*Note – The salary packages may vary depending on factors like company, experience, location etc.

Leading Firms Hiring for ACCA Graduates in India

The demand for skilled finance and accounting professionals continues to rise in India. That is why, ACCA qualification has become valuable for graduates seeking promising careers. Many leading firms across various sectors are actively hiring ACCA professionals to drive business growth. All the positions are commonly hired by companies in India, with more varying job roles across industries. The companies hiring ACCAs are 

Big Four Accounting Firms

Deloitte, PwC, EY, KPMG

Multinational Corporations in India

Capgemini, Accenture, Morgan Stanley, Goldman Sachs

Indian Corporates

Tata Consultancy Services (TCS), Infosys, Wipro

Investment Banking

Morgan Stanley, Goldman Sachs, JP Morgan Chase, UBS.

Consulting Firms

McKinsey & Company, Boston Consulting Group, Bain & Company, and Capgemini.

Banking Institutes

HDFC Bank, ICICI Bank, Axis Bank, State Bank of India (SBI).

Government and Regulatory Bodies

Reserve Bank of India (RBI), Securities and Exchange Board of India (SEBI), and various state government finance departments.

Non-Governmental Organizations (NGOs)

Oxfam, Pratham, and Akanksha Foundation.

Insurance

Tata AIG, ICICI Lombard and HDFC ERGO

Manufacturing and Retail

Tata Group, Reliance Industries, and Wipro Consumer Care

Energy and Utilities

NTPC Limited, ONGC (Oil and Natural Gas Corporation) and Power Grid Corporation of India

Technology and Information Systems

Accenture, Cognizant and Infosys

Therefore, there is a wide ACCA scope in India across various sectors. They have a significant choice of opportunities to be grabbed by and you can opt to work in any industry or a company of your preference. 

Trends and Analysis of ACCA Salary in India

The ACCA scope in India is wide and that is why the professionals in India earn competitive salaries based on their expertise. The freshers’ salary ranges from ₹6 lakhs to ₹8 lakhs annually, but with experience the earnings increase. Senior ACCA professionals can earn way more which is ₹20 lakhs per year. The table below represents the trends and analysis of the ACCA salary prospects at different levels.

It is also noticed that the more significant the firm, the more responsibilities it is accountable for, and thus it pays greater salaries. The Big 4 accounting firms offer the best salary to those placed in positions like auditing, financial analysis, and regulatory compliance. It suggests a vast ACCA scope nationwide. However, ACCA salary in India also depends upon the region: professionals working in regional cities like Mumbai and Bangalore receive better pay. This is due to the living cost and the number of multinational corporations, therefore so much competition.

Monthly and Annual Remunerations Of ACCA Professionals

The ACCA professionals wage ranks with experience and organization type in India. Newly joining employees earning between ₹50,000 to ₹66,000, per month. If they work in the same profile, then their salary increases with a handful of years of experience. Notably, the salary reaches up to ₹1.5 lakhs per month or even more than that. Finally, senior ACCA professionals or those in high-demand specialties work at executive-level jobs more like veterans. They earn over ₹1.67 lakhs per month, which results in over ₹20 lakhs annually or more. 

Industry-Wise ACCA Salary

If we consider the salaries of the ACCA professionals based on their industry, then it varies. Financial services and banking offer better salaries in comparison to nonprofit sectors or early-stage startups. The Big 4 accounting firms – Deloitte, PwC, EY, and KPMG – know the value of the comprehensive skill set provided by ACCA qualifications, especially in audit, tax, and advisory services. ACCA-qualified accountants earn competitive salaries working in the technology and pharmaceutical sectors.

Future Prospects of ACCA Career Opportunities

There is no denying the fact that there is a great ACCA future scope in India and globally. The ACCA career opportunities for professionals are increasing in number and will continue to increase in the future as well. The demand seems to be ever-increasing due to the global culture of businesses flourishing in each and every sector be it financial services, IT, Manufacturing, Baking, Consulting, Investing, Insurance, Retail, and many others.

Finance and accounting principles are deeply engraved in the ACCA course. It provides a good foundation for professionals to execute work with efficiency and effectiveness. The present environment of business always deals with financial transparency, rules, and high-order strategic decision-making leading to a better ACCA future scope. The finance and accounting principles provided in an ACCA course are applicable in the rapidly changing environment of business. They require experienced professionals to appropriately analyze the data, risks, and progress toward sustainable growth and development.

The ACCA scope in future will additionally be wider as the ACCA professionals are well-prepared for technological changes including artificial intelligence, blockchain, and analytics. The introduction of these technologies into finance and accounting processes transforms job roles and responsibilities. This has opened up a new route for more innovative ACCA professionals who welcome change. 

Globalization has expanded the ACCA scope in future, creating new opportunities for professionals worldwide. ACCA career in India is also growing rapidly due to the multinational businesses running around the world. This has now created a great need for accountants with varying regulatory requirements who can understand cross-border financial challenges. In this regard, accountants are increasingly becoming accountability and transparency experts. So, the ACCA opportunities in India are widely increasing in numbers. 

Valuable comments from and maintenance of integrity in financial reporting by ACCA professionals are sought regularly for such purposes. This trend, therefore, strengthens the profession further and expands the scope of consultancy, compliance, and advisory opportunities.

Conclusion

With every passing day, the scope of ACCA is only expanding in India. Today, more and more businesses use it as a tool to employ financial management and earn global credentials. The quality of accreditation that ACCA offers is such that one acquires all the skills required in this industry-from finance and banking to technology, consulting, and many other industries. Hence, there are ever-rich opportunities for growth, and thus an ACCA career in India awaits those seeking this prestigious qualification.

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