Qualifications like ACCA, CPA and CMA are globally sought after by students and professionals aspiring to build a rewarding career in accountancy. Among these, the ACCA certification has become a coveted choice with employers and job aspirants in various fields like management accounting, financial accounting, risk advisory, and taxation.
Headquartered in London, ACCA (Association of Chartered Certified Accountants) is a professional global accountancy body offering the highest standards in accountancy certification. The body has 500,000 students and 200,000 members spread across 176 countries.
The ACCA qualification comes with its set of benefits. From global acceptance and placements in accounting and consulting firms in government and private sectors to lucrative pay packages and opportunities for international travel, the perks are many.
Yet, aspirants are often on the edge about pursuing ACCA and speculate, “Is ACCA worth it in 2023?” Questions like “Is ACCA worth it in India?” or “Is ACCA in demand?” are also abound
So, let’s address these burning questions and determine if ACCA is worth your time and effort.
Benefits/Advantages of Doing ACCA
The ACCA certification opens a world of opportunities. The qualification makes you a highly sought-after accountancy professional.
Let us look at some of the advantages of doing ACCA:
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Employment opportunities from the best employers
Employers of global financing and accounting firms seek ACCA-trained professionals. Along with the major MNCs like Amazon, Tesla, Alphabet Inc, Apple Inc and many more, there are excellent employment opportunities in the Big Four.
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Gain a wide range of skills and knowledge in accounting
The ACCA curriculum covers competencies and abilities like valuations, financial modelling, advanced Excel, stock market research, and more. It includes various accountancy concepts, including financial reporting, taxation, management accounting, law, financial management, auditing, ethics and strategic planning.
Such diverse accounting skills and knowledge are indispensable for accountancy roles across sectors, from financial services to corporate and SMEs.
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Join a global network of professionals
Today’s business world is fast-paced. Regardless of your industry, you must have a solid professional global network to remain competitive and keep windows of opportunities open. Your ACCA journey will present ample opportunities to attend various networking events and meet valuable contacts physically and through virtual forums.
On becoming an ACCA member, you will join the vast network of more than 219,000 members and connect with similar accounting professionals from around the world.
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Grab lucrative job roles
The demand for skilled finance and accounting professionals is unlikely to plummet in today’s interconnected world. And an ACCA certification is the cherry on top. With an ACCA certification, you qualify for roles like Chief Financial Officer, Management Accountant, Financial Accountant, Tax Specialist, and many more. Almost all these job profiles are financially rewarding, with ample opportunities for professional growth.
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Work in different parts of the world
ACCA has a reputation for excellence globally. With ACCA certification, you can expect to work in different parts of the world as an accounting and finance specialist or in related roles. The certification is accredited globally and accepted by almost 170+ countries worldwide.
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Get a headstart in your entrepreneurship journey
ACCA covers topics related to financial management and business in the course curriculum. The insights and knowledge gained from the course serve as a foundation for those with an entrepreneurial vision. ACCA is the best course to follow if you want to become an entrepreneur in taxation, and other accountancy or finance business practices.
Is ACCA a High-Paying Job?
The salary of an ACCA in India depends on factors like candidate experience, job profile and job location. Freshers with ACCA certification find job roles similar to that of Indian Accountants in India. Some popular entry-level job roles for ACCA freshers include Account Executives, Taxation and Accounts Specialists and Financial Analysts.
An ACCA member has an annual income of INR 6.4 and 39.5 LPA. However, freshers and ACCA Affiliates must gain experience to reach this income range. Along with expertise and experience, the career stage also plays a decisive role in ascertaining the salary of an ACCA.
Is ACCA in Demand? Is ACCA Worth It in India?
Yes, ACCA professionals are highly in demand in the leading global accounting and finance firms in India and abroad. The skillset and knowledge of ACCA professionals help them stand out and prepare them to work in challenging business environments.
Once you become an ACCA member, you will have unmatched credibility in accountancy, finance, and related subjects. Along with expertise in consultancy and advisory, ACCA members are experts in taxation, fund management, and associated fields.
With the ACCA certification, you will successfully grab the attention of prospective employers of leading global corporate houses, MNCs and the Big 4. In India, there are excellent career opportunities for ACCA professionals in top-tier and leading multinational companies in financial, consultancy and accountancy roles.
Conclusion
The answer to the question, “Is ACCA worth it in 2023?” is a definite yes. The ACCA certification is a globally accredited standard in accountancy. It opens up excellent career scopes and lucrative pay packages for job aspirants in this field. ACCA members make flourishing international careers as the certification provides the opportunity to work in different countries across the globe.
The first step to reaping the benefits of ACCA and building a fulfilling career in accountancy is signing up for an ACCA course and strategically preparing for the exams. The WallStreet School, India, offers ACCA coaching classes with exhaustive prep materials, personalised attention from experienced faculty and 100% placement assistance. Visit The WallStreet School, India, for more details.
FAQs
- How well is the demand for ACCA professionals?
ACCA-certified professionals are in high demand in the global market for job roles like Management Accountants, Financial Analysts, Finance Managers, and many more. Along with prestigious professional designations, this certification also offers highly competitive salaries.
- Is it difficult to pass ACCA?
The ACCA exams include 13 papers. Candidates who are not eligible for exemptions must clear all these papers. While some ACCA papers have high passing rates, like 83%, others have low passing rates, like 34%. With proper coaching and guidance, you can clear all the papers of ACCA.
- Is ACCA easy for CA students?
Yes, candidates who have completed CA fully or even partially find ACCA easier. They can complete the ACCA course in a short span along with articleship.
