Career Prospects of ACCA

Edusanjal

April 06, 2021
Last updated September 26, 2021
Career Prospects of ACCA

The ACCA (Association of Chartered Certified Accountants) is one of the globally recognized accountancy bodies that offer ACCA qualification.  This world-leading accountancy qualification is suitable for students aspiring to build a rewarding career in accountancy, management, or finance.

The certification is designed to provide students with the accounting expertise, skills, and professional values required to pursue a successful career in any sector within the finance industry. Divided into three levels with an additional online level, the course comprises a total of 14 subjects that the students are required to complete within a maximum period of 10 years.

Upon completion of the qualification, professionals are integrated into the global ACCA body. This opens avenues for the professional in the international platform.

Why Study ACCA?

Flexibility

ACCA is flexible in terms of curriculum and test style. Although a rigorous course, the flexibility in examination scheduling enables students to prepare accordingly. ACCA exams are conducted four times a year, and applicants can schedule or exam at a time, which gives them time to focus on one particular subject without other distractions at a time. ACCA candidates also have up to ten years from the date of registration to complete the course. This flexibility of duration provides a certain respite from otherwise a very demanding qualification. ACCA also acknowledges applicants' existing expertise and qualifications and exempts them from tests based on their qualifications. 

Relevance

ACCA qualification is a globally recognized finance and accountancy qualification that is tailored as per the need of today's finance world. This global qualification offers skills and techniques that are required to land a job in the finance industry. ACCA global qualification offers the subjects and curriculum that are most appropriate to tackle the challenges of the ever-growing business world.   

Cost-Effectiveness

The ACCA is considered a quite cost-effective qualification compared to other accounting or finance qualifications globally. One reason for this is that ACCA qualification is often offered by training institutes that charge lesser fees compared to universities and colleges. The professional Accounting body does however charge a universal examination fee per exam. For ACCA qualification one needn't even enroll in any institution provided they complete all 14 examinations. 

Competitive

ACCA qualification encloses a highly rigorous course syllabus that demands students to put in maximum effort in order to succeed in completing the courses to qualify. The degree of competitiveness of the accounting and finance course makes it a highly sought-after pre-requisite for employment in the finance industry. 

Global Recognition

With recognition in over 180 countries around the world, qualifying as an ACCA will open doors for you in the reputed firms in Nepal and other multinational corporations all over the world. 

What are the Career Prospects After Competing ACCA?

ACCA members have a strong understanding of financial and accounting models, they earn skills and expertise upon completion of the qualification. They are also well trained as they are required to acquire at least three years of professional experience in the field they specialize in. This opens for them avenues to the world of finance in their capacities as Accountant, Auditor, Tax Advisor, and a variety of other top-level positions at renowned firms. ACCA offers professionals in-depth knowledge of international laws and reporting practices, as well as practical skills to enable them to cope with real-world business complexities.

To qualify as an ACCA member candidate should complete 13 exams (a maximum of nine are eligible for exemptions given you can prove the professional expertise on the subject), gain 3 years of practical experience (PER) and complete the online Ethics and Professional Skills Module (EPSM).

1. Audit and Assurance

Auditing is a sought-after career path in the finance industry. A bachelor's degree in accounting or finance, or a professional accounting certification such as the ACCA, is required for entry-level auditing positions. The auditing profession has a very formal career path, and auditing is considered one of the most difficult fields of accounting. The second module under ACCA qualification accords one with applied knowledge on auditing and assurance that is highly valued by audit firms.

2. Tax Consultant/Advisor

Tax accountants are professionals who are familiar with many of the government laws and regulations who advise clients on tax law at local and international levels. They also counsel clients about how to handle their assets to avoid tax penalties, keep them updated about changes in tax legislation, and help them with any legal conflicts or audits that might occur. It is very important for anyone aspiring to be a tax consultant/ advisor to be adept in the discipline and have a fine grasp on tax laws both national and international. ACCA qualification covers the consultation techniques and the functioning of the tax laws both national and international molding an individual perfectly into these roles.

3. Financial Accountant

A to Z of the accountancy discipline falls under the scope of the subjects under ACCA qualification. It makes an ACCA qualified individual most suitable for the position of a financial accountant. As a financial accountant, the individual is required to be in charge of an organization's accounting and financial operations. They are also responsible for assessing the company's financial status and provide financial data to other departments, allowing them to make budgeting and investment decisions.

4. Financial Analyst

With the rigorous curriculum of ACCA, a person is soaked in meticulous details of the business world. Since as part of their work, financial analysts are required to perform analysis for external or internal clients related to accountancy, investment, risks, or business management, it is a well-suited career path for an ACCA qualified.

5. Finance Manager 

They are in charge of overseeing the company's day-to-day financial activities, such as payroll, invoicing, and other transactions, as well as tracking the company's financial position and results, researching industry patterns, finding areas for future improvement, and generating financial reports. An individual gradually develops all these competencies as one goes on completing all the modules of the ACCA qualification. Thus opening avenues for oneself to work in the capacity of finance manager.

6. Risk Manager

The role of a risk manager is to ensure that the company's integrity and profitability are protected by detecting and advising on a variety of risks (business, financial, and legal) and potential threats, as well as developing strategies to avoid and mitigate these issues. A practitioner with an ACCA qualification can go on to specialize in risk management. 

Besides these roles, you can start your own business with relevant skills and expertise for it to run smoothly and successfully. ACCA opens doors to other opportunities to pursue other qualifications like MBA and CFA as well as work as a freelancer. Hence, there are multiple options to choose a career after completion of the ACCA qualification. Unlike so many other specialized finance or accounting certifications, ACCA is quite broad and covers most aspects of the finance and accounting discipline, this facilitates professionals to move away from the traditional career paths and explore the field to their liking.