Graduation degrees only dip their toes into the water of the ocean to a certain point. But in order to learn more and develop more specialized skills in any given field, students constantly want to delve deeper and explore new topics. In this article we discuss, if pursuing ACCA after graduation actually makes sense for a better career or not.
Introduction to ACCA after Graduation
The world in which we live is a reflection of and centred on technological prowess. In today’s society, specialized knowledge and skills are in high demand, while general knowledge and skills have limited room for advancement. Candidates can look into a number of specialization courses in the accounting field. Having an expert on hand in this number-crunching field will be beneficial to them. One of the top professional organizations for accountants in the world is called ACCA, or the Association of Chartered Certified Accountants.
The prestigious organization provides the ACCA qualification, which enables students to obtain both ACCA membership and Certified Chartered Accountant Status. Students who join ACCA have the opportunity to learn useful accounting techniques and connect with esteemed accounting industry experts. Students who pursue ACCA can enhance their professional skill set and gain advantageous career benefits.ACCA helps students advance their careers. However, it necessitates a commitment of time, money, and effort. Therefore, students should only enroll in this course after determining their need for it or the potential value of ACCA to their career path.
Should you pursue ACCA after Graduation?
The ability and foresight of the student to pursue a specific graduate degree is the key to the answer to the aforementioned question. With their degree, students can enroll in professional courses like ACCA if they have the aptitude and willingness to do multiple things.
In India, students interested in accounting pursue a Bachelor of Commerce degree (B.Com). Students will learn about the complexities of this dynamic field in this course. The chance for students to take additional professional courses while pursuing their degrees is tremendous. Because B.Com requires less effort and energy than other graduation courses, students have the excellent opportunity to pursue other professional programs concurrently.
ACCA can be pursued in addition to graduate degrees other than B.Com because there are no prerequisites for it. Students can review the benefits and drawbacks of pursuing an ACCA course before or after earning a degree to provide a more thorough response to this question.
Benefits of ACCA AFTER Gradudation
The reasons listed below are why students ought to think about pursuing ACCA with a degree:
- The typical ACCA course lasts 4 to 5 years, but if students pursue it alongside their degree, they can finish it in 1 to 2 years after receiving their diploma. Saving the students some important time in the process.
- Students can determine whether or not the ACCA program will suit their career path by participating in it during their graduation. With plenty of time left over, they can quickly withdraw from the course.
- The candidate may be able to obtain an exemption from a few ACCA papers by pursuing a B.Com at a reputable university.
- Numerous colleges and universities offer focused ACCA classes to aid students in getting ready for the course.
- Students have more opportunities to find employment because employers can entice them with lucrative offers. After completing their ACCA, they can also hold senior positions within that organization.
Benefits of Continuing Your Education in ACCA After Graduation
The benefits of continuing your ACCA studies after graduation are as follows:
- After graduation, students who want to concentrate and meet the requirements for their graduate degree may choose to pursue ACCA subjects.
- It allows students the time they need to consider and research different career options, freeing them from the pressure to move quickly.
- If necessary, students can apply for a job and then continue with the course. It provides them with a variety of flexible options.
Cons of doing ACCA after graduation
- The ACCA course curriculum is international and not nation-specific. The fact that every economy is unique makes this a problem. Therefore, local experts who are familiar with local issues would obviously be preferred over international ones when dealing with problems specific to a particular country. as CPAs in the US or CAs in India.
- Though ACCA is reputed, it is not accredited. In India and most other nations, ACCAs are not permitted to practice. ACCAs are not permitted to certify; this is still only a job for Chartered Accountants.
- What makes a company prefer ACCA to CA? Although the course structure and topics are nearly identical, CAs triumph because they focus on local rather than global scenarios. I would prefer a CA if my operations were in India. When my business is international, I will retain experts from all nations, one for each nation. Due to their size, multi-national operations cannot be trusted to be managed by a single person, so ACCA will be useless. ACCAs are, therefore useless.
- You can work only in large companies and only in that capacity. ACCA offers fewer options than CA or other regional programs. There is only one road at ACCA, and there are no alternate routes. If you land a job, everything is fine; if not, you are unable to switch to any other modes, such as consulting.
Depending on some of these factors, some students will find the ACCA harder than others:
You’ll probably be completely new to accounting if you begin the ACCA with only the minimum requirements, which will make the course harder for you to learn.
That’s not to say that ACCA will be harder for you to pass, but you might find that it takes a little more effort to understand.
Contrarily, students who learn ACCA from scratch frequently acquire a stronger foundation in the subject matter and ACCA exam methodology than more seasoned students with exemptions, which makes the professional level simpler.
The AAT (Association of Accounting Technicians) certification is frequently chosen by students as their first accounting course, but the ACCA is a significant improvement.
The subject matter will be more familiar to you if you have a Bachelor’s or Master’s degree in finance and accounting or a closely related field. But that doesn’t necessarily mean it will be simpler, especially if you use exemptions and don’t go into enough detail about earlier material.
Last but not least, you might be a practising accountant seeking certification from the ACCA. Your practical experience may make the ACCA easier, but it may also require you to “unlearn” some habits, which can make the exam more challenging.
ACCA After Graduation- Jobs
ACCA (the Association of Chartered Certified Accountants) is a global professional accounting qualification that provides students with a comprehensive understanding of accounting and business principles. Completing ACCA can open up a wide range of job opportunities in various sectors and industries. Here are a few examples of jobs that may be available to those who have completed ACCA:
- Financial Analyst: Financial analysts use financial data to evaluate the performance of companies, industries, and economies. They use their knowledge of accounting and financial analysis to develop financial models, make investment recommendations, and provide strategic financial advice.
- Audit Senior: An Audit Senior is responsible for planning, executing, and finalizing financial audits and reviews. They assess the internal control systems of the organization and ensure that all financial information is accurate and complete.
- Tax Manager: Tax Managers are responsible for ensuring that an organization is compliant with tax laws and regulations. They work with financial data to prepare and file tax returns and identify tax planning opportunities.
- Financial Controller: Financial Controllers are responsible for the financial operations of an organization. They oversee the preparation of financial statements, develop financial strategies, and ensure that the organization’s financial activities are in compliance with laws and regulations.
- Management Accountant: Management accountants provide financial information to managers and other decision-makers within an organization. They use financial analysis to help managers make better decisions, improve operations, and identify new business opportunities.
- Financial Advisor: Financial Advisors help individuals and organizations plan their financial futures by providing advice on investments, insurance, taxes, and retirement planning.
- Investment Banker: Investment bankers help companies and governments raise money by underwriting and issuing securities, and by acting as intermediaries in the buying and selling of securities.
- Risk Manager: Risk Managers assess and manage the financial risks associated with an organization’s operations. They use financial analysis to identify potential risks and develop strategies to mitigate those risks.
These are just a few examples of the many career opportunities that may be available to those who have completed ACCA. The specific job opportunities will depend on the skills, experience, and interests of the individual and the job market
ACCA Vs CPA
ACCA (Association of Chartered Certified Accountants) and CPA (Certified Public Accountant) are both professional qualifications in the field of accounting, however, they have some key differences.
ACCA is a global qualification offered by the Association of Chartered Certified Accountants. It is widely recognized in many countries around the world, including the UK, Europe, and Asia. The ACCA qualification covers a broad range of accounting and finance topics, including financial reporting, audit, and tax. It is designed for individuals who want to become professional accountants and work in a variety of industries.
CPA, on the other hand, is a professional certification offered by the American Institute of Certified Public Accountants (AICPA) and is recognized in the United States and other countries. The CPA exam covers a wide range of accounting and finance topics, including financial reporting, audit, and tax. It is intended for individuals who want to become licensed public accountants and work in the accounting profession.
In terms of the exam structure, ACCA has a computer-based examination, whereas CPA is traditionally offered in paper-based format, but now also computer-based.
Another major difference is that ACCA is considered more flexible than CPA as it allows the candidate to specialize in certain areas of accounting and finance, whereas CPA is more focused on the US market and laws.
In summary, ACCA and CPA are both professional qualifications in the field of accounting, but they have different focuses, recognition and exam structure. ACCA is recognized globally and is more flexible, whereas CPA is primarily recognized in the United States and is more focused on the US market and laws.
Studying ACCA can give students an edge over their peers because it is a professionally recognized course that is offered all over the world. Students should consider their suitability, ability, and requirements before deciding whether to pursue it alongside or after receiving a degree and only then should they move forward. The pressure to pursue ACCA shouldn’t affect how well a student performs on their graduation exam. They should therefore weigh all options before moving forward with pursuing ACCA.