Would you like to pursue a career in tax consulting, auditing, accounting, treasury management, or business valuation? Then, enrolling on an ACCA course is a good choice!

The Association of Chartered Certified Accountants (ACCA) is a globally recognised body that aids in expanding your career opportunities and helps you obtain the capabilities to work in the best and most interesting roles in the world.

ACCA is a globally recognised certificate that helps you find jobs around the globe and can help you make a remarkable career in several countries.

What is ACCA?

The Association of Chartered Certified Accountants (ACCA) was established in 1904, and the qualification of a Chartered Certified Accountant helps you establish international accounting and obtain audit standards. This certificate allows you to work in any country where accounting standards are accepted.

There are numerous benefits of the ACCA course, which are listed below: 

  1. It is a globally-recognised course that certifies more than 200,000 members around the world and more than 600,000 students in more than 180 countries.
  2. Earning ACCA certification will be a significant advantage that will help you to apply for senior positions and to establish a successful career in management, accounting, consulting, and banking.
  3. Since an ACCA degree has worldwide recognition, acceptance, and appreciation, you can work in many professions and maximise your earnings potential. This degree is beneficial and a great way to start your career. 

Why Should You Pursue an ACCA Qualification?

Having an ACCA qualification opens the door to your dream career, and you will be able to choose the right path for you with ease. The choice of an ACCA career helps to drive you down the right path to amplify your growth as a professional.

Having ACCA certification opens many career opportunities and allows you to take on vital responsibilities across different sectors.

The certification develops your strategic thinking abilities, technical skills, and professional values, which are vital and highly valuable in any business environment.

With this course, thousands of ACCA applicants have enhanced their skills and reached their full potential over the years, so now you have the best opportunities to explore your options after completing the course.

You will receive numerous opportunities that come with each season in an effective way, allowing you to grow in different fields such as auditing, financial consulting, taxation and business management indefinitely. However, even if you do not complete the ACCA course for certain reasons, you can still propel your career forward.

Most institutions provide study material to help you complete your course more effectively, and the ACCA is not an expensive course, so scholarship funding is often not required.

Who Should Pursue the ACCA Programme?

The minimum entry requirements to study the ACCA programme are: 

  • Higher Secondary Certificate (HSC) and graduate students interested in an accounting career are eligible for the ACCA course of study, which equips you for roles beyond accounting and to build a long-term career. In addition to your graduation in commerce, business, or business-related streams like B. Com, BBA, or BMS, you can also pursue ACCA at the same time.

  You should pass five subjects, including English and mathematics/accounting, with 65% marks in two subjects and over 50% in the rest. If you possess higher qualifications, you may qualify for exemptions from some modules.

  • You are eligible for more exemptions if you are a CA final pursuing candidate and scored 40 or more marks in the relevant subject in the CA final examination.
  • However, if you don't qualify for the CA IPCC exams and score 40 or higher in the relevant CA IPCC Exam subjects, you are eligible for additional exemptions.
  • With several exemptions, the ACCA programme allows you to prepare for multiple roles and gain access to multinational companies more quickly and at a lower cost.

What are the Best Ways to Prepare for the ACCA Exam?

To succeed in the ACCA exams, you need to adopt effective study techniques. It is important to assess all objective questions and to prepare strategically for module exams, which usually require many hours of study.

  1. Start with the Study Guide

You always start with a study guide that helps you understand all subjects, areas, and sections.

You have to go through all subjects and familiarise yourself with all sections of the syllabus, go through all the questions very carefully and don’t skip certain questions assuming that they are unimportant.

  1. Read the Official Textbooks 

You must have official textbooks and ACCA-approved study materials. These texts must include formative texts of knowledge and invaluable practice questions that have been reviewed to ensure their relevance to the current examination materials.

  1. Understand and Differentiate Between Question Types

Depending on computer-based exams, the objective questions may take different forms, and you must prepare for this. 

Most of these forms are as follows:

  •   Number entry exercises 
  •   Multiple-response matching questions
  •   Multiple choice questions
  •   True/false questions
  •   Multiple choice questions

  1. Don't Just Prepare for Objective Questions

You should not only study for objectives but also for questions that require longer answers. 

Preparing in this manner will help to create a better understanding of the material, and you will also be able to answer the questions with the correct definition of theory and concept. 

You need to have a greater understanding of the study material that provides accurate answers.

  1. Managing Exam Time Appropriately

You have a knowledge module exam with 50 questions to answer in two hours, which takes about 1.2 minutes for each question.

You must complete half of your questions within the first hour to allow time for the remaining questions.

However, mostly it depends on the paper and questions; you might take longer to answer certain questions than others. As a result, judging the order in which you need to answer the questions is difficult, and it all depends on the overall time constraints; you must make the right judgments as you monitor your progress during your exam. 

Ensure that you are not running out of time and make sure that by the end of the first hour, you have completed at least 25 questions.

It isn't advisable to guess the answers under normal circumstances, but if you are running out of time, guessing is better than not writing anything. In paper-based exams, you are advised not to guess using options C or D where the alternatives are less than four, which will be void in most situations.

  1. Make Use of ACCA's Official Website

Ensure that you will use all the resources that are present on the website. You always take advantage of the wealth of resources available on the official website, where these study materials are available for your use and will help your studies.

An Overview of the ACCA Career Path and Salaries

Since the ACCA is a prestigious accounting qualification, you can work in different fields like finance, banking, financial consulting, taxation, law, auditing, and other areas of business management.

Initially, corporate salaries are higher than those in the public sector. 

Even though you are trainees, accountants holding bachelor's degrees in accountancy, finance, or business will have exceptional salary packages because of the tax benefits.

You will have a wide range of options depending on the size of the organization, location, sector, and qualifications.

You can earn higher salaries, working for banks and insurance companies as a chartered certified accountant.

These are the ACCA salaries for accounting and certified chartered accountants:

  • Salary range for accountants: £19,000 to £27,000
  • An average certified chartered accountant (ACCA) earns between £35k and £58k

Additionally, pay packages vary depending on the sector in which you work. The salaries for different sectors are given below.

  • Banking: £25-30k
  • Auditing: £23-35k
  • Financial consultant: £45-50k
  • Taxation: £25-40k
  • Business management: £29-60k

As the statistics above illustrate, ACCA can prove to be quite a lucrative career option.

Because the ACCA qualification is globally recognised in over 180 countries, you can work anywhere in the world, and you can establish yourself in any country. Enrolling on the ACCA qualification is a great step to take.

Earning an ACCA qualification helps you gain international recognition and opens a wide range of career opportunities throughout the world, including employment with overseas accounting firms, multinational corporations, other organisations like the World Bank and the UN, and many others.

Gaining an ACCA will help you achieve a world accountancy qualification as a financial professional, which provides you with the skills, knowledge, and values to have a successful career and to lead the organisations that you work with into the future.

If you see yourself as an individual who could secure a high-level job working across the globe, getting an ACCA course could be the next step towards enhancing your career.  

At LSBFx, you can guarantee that you will receive a high-quality education and networking opportunities to help you move forward with your career. Learn more about why you should complete your ACCA course at LSBFx. 

 

 

This article was written by Joseph Chinnabathini and edited by Taylor Gardner