In recent years, accounting has noticed a significant shift in trends, where one professional certification has captured eyes, which is the Association of Chartered Certified Accountants (ACCA) . This course is gaining immense popularity among aspiring professionals. This transformation has led to a substantial increase in the number of students opting for ACCA over other traditional qualifications like Chartered Accountancy or MBA. But what’s behind this change in interest, and what makes ACCA so appealing?
Changing Landscape of Accounting
The accounting profession has undergone a significant transformation in recent years, driven by changes in traditional ways of doing business, technological changes. The modern accountant is no longer just a number-cruncher as they are expected to be strategic business advisors, well-versed in financial management, taxation, auditing, and financial reporting. The ACCA, with its forward-thinking curriculum, has adapted to these changes, offering the similar education and skills as needed.
Why ACCA?
So, why are students shifting their focus from traditional qualifications like Chartered Accountancy or MBA to ACCA? There are several reasons:
- ACCA is a globally recognized qualification, with a presence in over 180 countries. This broad acceptance opens up a world of career opportunities, making it an attractive option for those looking to work internationally or with multinational companies.
- ACCA offers a flexible learning pathway, allowing students to study at their own pace, choose from a range of courses, and select from various exam formats (on-demand, session-based, or online). This adaptable approach makes it easier for working professionals to balance their studies with other commitments.
- As per the ACCA course details, it covers a wide range of topics, including financial management, taxation, auditing, financial reporting, and business strategy. This broad area of subjects gives students a well-rounded education, preparing them for a variety of roles in accounting and finance.
- ACCA also has an emphasis on practical application that sets it apart from other qualifications. Students are required to complete a professional experience requirement, which ensures they already have adequate experience in the field before becoming certified.
ACCA Course Contents and Features
The ACCA course is divided into three levels: Applied Knowledge, Applied Skills, and Strategic Professional. Each level builds on the previous one, providing a career changing learning experience:-
- Applied Knowledge Level: This level introduces students to the fundamentals of accounting, taxation, and law. It consists of three papers: AB (Accountant in Business), FA (Financial Accounting), and LW (Law).
- Applied Skills Level: This level builds on the knowledge gained in the first level, focusing on financial management, taxation, auditing, and financial reporting. Students complete six papers: PM (Performance Management), TX (Taxation), FR (Financial Reporting), AA (Audit and Assurance), FM (Financial Management), and FI (Financial Instruments).
- Strategic Professional Level: The final level emphasizes strategic thinking, business leadership, and professional skills. Students complete four papers: SBL (Strategic Business Leader), SBR (Strategic Business Reporting), AFM (Advanced Financial Management), and AAP (Advanced Audit and Assurance).
Some notable features of the ACCA course include:
- Exemptions: Students with prior qualifications or experience may be eligible for exemptions from certain papers.
- ACCA Coaching: ACCA as a profession is now in demand and so is the appropriate coaching that provides ACCA exams preparation. Zell Education is a recognized ACCA coaching institute that provides complete preparation for ACCA exams. The name of Zell and ACCA go hand-in-hand, because Zell has been able to make its mark by establishing a successful passing rate.
The Future of ACCA
As ACCA qualified professionals are in high demand across various industries, and their skills are highly valued by employers. Here are some job opportunities available to ACCA qualified professionals:
- You can work as a financial controller who is responsible for overseeing financial planning, budgeting, and forecasting, with an average salary range of 5 LPA to 10 LPA
- If you are good with the analytical job you can also consider the job profile of an Analyst who analyses financial data to inform business decisions, with an average salary range of approximately 8 lakhs to 10 lakhs yearly
- Auditing is primarily the most hired job by the company. As an auditor you conduct audits to ensure financial accuracy and compliance, with an average salary range of 12 lakhs to 15 lakhs per annum.
ACCA is a New Beginning
- The ACCA course is offering a forward-thinking education that provides professionals with the skills to succeed in the changing business world. With its global recognition, flexible learning pathway, and quality syllabus.
- ACCA has become the go-to qualification for aspiring accountants and finance professionals. As the accounting landscape continues to evolve, it’s clear that ACCA will remain a leading force in shaping the profession.
- ACCA has continued its upward growth, attracting talented individuals from around the world. If you’re considering a career in accounting or finance, now is the perfect time to enroll for the ACCA course and become part of the future of the profession.
