The Association of Chartered Certified Accountants (ACCA) qualification is one of the most respected and recognized accounting qualifications globally. The ACCA designation not only enhances an individual’s knowledge and skills but also opens doors to numerous career opportunities, particularly in prestigious firms such as the Big Four (Deloitte, PwC, EY, and KPMG). We will now explore the ACCA meaning and the impact of ACCA on career development and outline the steps necessary to achieve this esteemed certification.
The ACCA (Association of Chartered Certified Accountants) qualification is highly regarded in the accounting and finance sectors, particularly in today’s competitive job market. Here’s an overview of the ACCA details and of the impact that ACCA can have on a career and the steps to achieve the qualification. In today’s competitive job market, especially within the accounting and finance sectors, obtaining a professional qualification can be a significant differentiator.
- ACCA opens opportunities for employment in various countries and industries. This global acceptance can be particularly beneficial for those looking to work in multinational corporations or firms. The worldwide acceptance allows ACCA professionals to work in various industries and countries, providing them with greater flexibility and mobility in their careers. For individuals aspiring to work in multinational corporations or those considering relocation for better job opportunities,
- ACCA members often command higher salaries compared to their non-qualified counterparts. ACCA members are equipped with the necessary skills to navigate complex financial environments, making them valuable assets to organizations. This is especially true for the Big Four firms, which often prioritize ACCA qualifications during their recruitment processes. As a result, ACCA members are more likely to secure interviews and job offers in these prestigious firms compared to their non-qualified counterparts.
- Big Four accounting firms (Deloitte, PwC, EY, and KPMG), actively seek ACCA-qualified professionals for their expertise in accounting, finance, and business management. ACCA provides a solid foundation in various areas of finance and accounting, allowing professionals to pursue diverse career paths, including auditing, taxation, financial management, and advisory roles.
How to Achieve ACCA Qualification
Achieving the ACCA qualification involves a structured process that requires dedication, hard work, and strategic planning. Here are the key steps to obtaining the ACCA qualification:
- Eligibility: To begin the ACCA qualification, candidates should at least have passed class. However, there are alternative entry routes for those with higher education qualifications or relevant work experience. People who are pre-qualified are also given exemption from certain ACCA exams
- Register as a Student: Candidates must register with ACCA as a student. This involves completing an online application and paying the registration fee. To have a hassle-free registration process and overall ACCA studying experience, you can register for ACCA coaching through Zell Education which is one of the leading institutes in providing ACCA coaching.
- Complete the ACCA Exams:
- Applied Knowledge: This level consists of three exams (Business Technology, Management Accounting, and Financial Accounting).
- Applied Skills: This level includes six exams (Corporate and Business Law, Performance Management, Taxation, Financial Management, Audit and Assurance, and Financial Reporting).
- Strategic Professional: This final level consists of Strategic Business Leadership and two optional papers chosen from a list of four (Strategic Business Reporting, Advanced Management, Advanced Audit, and Advanced Performance Management).
- Practical Exposure: Candidates must complete a minimum of 36 months of relevant work experience, which can be gained before, during, or after the exams. This experience must be documented and signed off by a qualified accountant.
- Membership Application: After passing the required exams candidates can apply for ACCA membership. Upon approval, they can use the ACCA designation after their name.
Tips To Clear for ACCA Exams
- Study from ACCA-approved textbooks and practice past exam papers. Take coaching from a recognised ACCA institute like Zell Education
- Use the ACCA website for updates, ACCA details, webinars, and resources.
- Focus on understanding concepts rather than rote memorization.
- Regularly attempt mock exams to familiarize yourself with the exam format and time management.
- Maintain a balanced diet and get enough rest before the exam.
ACCA is a Profound Professional Career Opportunity
- The ACCA qualification can significantly impact an individual’s career in accounting and finance, providing global recognition, enhanced earning potential, diverse career opportunities, and a commitment to professional development.
- Achieving the ACCA qualification requires dedication, hard work, and a structured approach to studying and gaining practical experience, but the rewards can be substantial in terms of career advancement and professional growth.
- ACCA places a strong emphasis on ethics and professional conduct. The qualification process includes an ethics module that focuses on ethical decision-making and the importance of integrity in the accounting profession.
- Employers increasingly prioritize ethical standards, and ACCA members are recognized for their commitment to upholding these principles. This ethical grounding can enhance an individual’s reputation and credibility in the workplace, further contributing to career advancement.
