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learneducation · 8 months ago

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ACCA Journey – From Beginner To Professional

If you're a millennial with a passion for accounting and finance, then the ACCA (Association of Chartered Certified Accountants) qualification is the perfect fit for you. ACCA is a globally recognized finance & accounting qualification that prepares you for a career in fields of finance, accounting and audit. However, the ACCA journey from novice to pro is not an easy one. It requires dedication, hard work, and a passion for the subject. In this article, we'll take you through a journey from novice to pro, exploring the steps you need to take to become an ACCA professional.

Step 1: Understanding the basics.

Before you embark on your ACCA journey, it's important to understand what the qualification is all about. The ACCA qualification consist of three levels, starting with the Applied Knowledge exams and progressing to the Strategic Professional exams. The qualification is recognized internationally and employers all around the world prefer ACCA professionals.

Step 2: Enrolling in an ACCA program.

The next step in your ACCA journey is to enroll in an ACCA program. To know more on how to enroll acca course details.

Step 3: Studying hard.

Studying for the ACCA exams is not easy, and it requires a lot of dedication and hard work. The practically oriented exams are challenging and require a deep understanding of accounting concepts and principles. Therefore, you'll need to put in the time to read and understand the study materials, practice exam questions, and attend classes or webinars. However, there are plenty of resources available to help you along the way, including study guides, online forums, and study groups. We at IndigoLearn focus on in depth conceptual clarity and examination success. Click here to know more.

Step 4: Gaining practical experience.

In addition to passing the exams, the ACCA also requires you to gain practical experience (PER) in relevant accounting and finance. You'll need to complete 36 months of supervised experience before you can become an ACCA member. Practical experience is a vital component of the ACCA qualification, as it allows you to apply the concepts and principles you've learned in a real-world setting.

Step 5: Becoming an ACCA member.

Once you've passed all the required exams and gained the necessary practical experience, it's time to apply for ACCA membership. As a member, you'll have access to a wide range of benefits, including networking opportunities, career support, and continuing professional development resources. Additionally, ACCA members are highly respected in the industry, which can lead to better job opportunities and higher salaries.

Step 6: Continuing your professional development.

Becoming an ACCA member is just the beginning of your successful professional journey. To stay ahead in your career and continue to grow, you'll need to keep learning and developing your skills. The ACCA offers a wide range of continuing professional development resources, including courses, webinars, and events. Additionally, ACCA professionals are required to maintain their membership through ongoing professional development, ensuring that they stay up to date with the latest developments in the field.

In conclusion, the ACCA journey from novice to pro requires dedication, hard work, and a passion. However, for millennials who are inclined in pursuing a career in accounting and finance, the ACCA qualification can be an asset. Therefore, if you're interested in ACCA and want to know more in detail click here.

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ifcpltd · 11 months ago

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Embark on a journey to financial expertise with our ACCA course. Master the syllabus, aligning theory with real-world applications. Affordable fees, exceptional value. Elevate your career in finance. Enroll now! 📚💼

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eduyush · 11 months ago

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A Deep Dive into ACCA Course Details

Are you looking to elevate your career in finance and accounting? The ACCA course details are designed to offer aspiring professionals a comprehensive understanding of financial management, taxation, audit, and other key areas of accounting. Whether you are a recent graduate or an experienced professional seeking career advancement, the ACCA course can provide you with the necessary knowledge and skills to thrive in the competitive business landscape.

To ensure the relevance and currency of the program, ACCA regularly updates its syllabus to align with the latest industry trends and practices. This means that when you enroll in the ACCA course, you can be confident that you are gaining the knowledge and skills required by employers worldwide.

Unlock your full potential and join the ranks of over 200,000 ACCA members and 486,000 students worldwide. Take the first step towards a successful career in accounting by exploring the ACCA course details today.

What is ACCA?

The Association of Chartered Certified Accountants (ACCA) is a global professional accounting body that offers a comprehensive qualification for finance and accounting professionals. Established in 1904, ACCA has grown to become one of the leading professional accountancy organizations in the world. Its qualifications are recognized and respected by employers, governments, and regulatory bodies across 179 countries.

ACCA equips its members with the necessary knowledge and skills to excel in various roles within the accounting and finance field. The qualification not only focuses on technical accounting skills but also emphasizes the development of strategic and business management capabilities. This holistic approach ensures that ACCA members are well-rounded professionals who can contribute to the success of organizations in today's dynamic business environment.

Why should you pursue the ACCA qualification?

Global Recognition: ACCA is recognized and respected globally, giving you an edge in the international job market. Employers value the ACCA qualification as it demonstrates your commitment to professionalism, ethics, and high standards of accounting practice.

Career Opportunities: ACCA opens doors to a wide range of career opportunities in finance and accounting. Whether you aspire to become a financial analyst, auditor, tax consultant, or even a CFO, the ACCA qualification provides you with the necessary skills and knowledge to excel in these roles.

Flexibility: ACCA offers a flexible learning pathway that allows you to study at your own pace. You have the freedom to choose when and where to study, making it easier to balance your studies with work or other commitments.

Continuous Professional Development: ACCA promotes lifelong learning by requiring its members to undertake continuing professional development (CPD) activities. This ensures that ACCA members stay up-to-date with the latest developments in the accounting profession, enhancing their career prospects and professional credibility.

ACCA course structure and modules

The ACCA qualification consists of several modules that cover a wide range of accounting and finance topics. These modules are designed to provide you with a strong foundation in accounting principles and practices, as well as advanced knowledge in specialized areas. The modules include:

Applied Knowledge: This module focuses on building a solid understanding of the core accounting principles and concepts. It covers subjects such as Financial Accounting, Management Accounting, and Business Law.

Applied Skills: In this module, you will develop the practical skills required to apply accounting techniques in real-world scenarios. It includes subjects such as Corporate and Business Law, Performance Management, Taxation, and Financial Reporting.

Strategic Professional: This module builds on the knowledge acquired in the previous modules and focuses on developing strategic and leadership capabilities. It consists of two essential components: Essentials and Options.

Essentials: The Essentials component includes subjects like Strategic Business Reporting, Strategic Business Leader, and Advanced Financial Management. These subjects provide you with a deep understanding of advanced accounting and finance concepts, as well as strategic management skills.

Options: The Options component allows you to choose two subjects from a range of specialized areas, including Advanced Taxation, Advanced Audit and Assurance, Advanced Performance Management, and Advanced Financial Management. This enables you to tailor your ACCA qualification to your specific career aspirations and interests.

Entry requirements for the ACCA qualification

To pursue the ACCA qualification, you need to meet certain entry requirements. These requirements ensure that you have the necessary academic background and skills to succeed in the program. The entry requirements vary depending on your educational qualifications and work experience.

Typically, the entry requirements for the ACCA qualification include:

Educational Qualifications: You need to have at least two A-levels and three GCSEs (or their equivalent) in five separate subjects, including English and Mathematics. If you do not meet these requirements, you can still apply for the ACCA qualification by taking the ACCA Foundation-level qualifications.

Relevant Degrees: If you have a relevant degree in accounting or finance, you may be eligible for exemptions from certain ACCA modules. These exemptions can reduce the number of exams you need to take to complete the qualification.

Work Experience: While work experience is not mandatory, it can be beneficial when pursuing the ACCA qualification. Relevant work experience can enhance your understanding of the practical aspects of accounting and provide you with valuable insights into the industry.

How long does it take to complete the ACCA qualification?

The duration to complete the ACCA qualification varies depending on your prior education, work experience, and the time you can dedicate to studying. On average, it takes around three to four years to complete all the required exams and modules.

The flexibility of the ACCA program allows you to study at your own pace. You can choose to study full-time or part-time, depending on your circumstances. ACCA also offers computer-based exams throughout the year, providing you with the flexibility to schedule your exams at a time that suits you.

ACCA exam format and assessment methods

ACCA exams are conducted in a computer-based format, allowing you to take exams at ACCA-approved exam centers worldwide. The exams are held throughout the year, giving you the flexibility to choose when to take your exams.

The exam format varies depending on the module. Typically, the exams consist of a combination of multiple-choice questions, case studies, and constructed response questions. The exams are designed to test your knowledge, application, and analytical skills in various accounting and finance scenarios.

To pass each exam, you need to achieve a minimum passing score of 50%. ACCA provides detailed exam guidance and resources to help you prepare effectively and succeed in your exams.

ACCA study materials and resources

ACCA provides comprehensive study materials and resources to support your learning journey. These materials include textbooks, practice questions, revision kits, and online resources. The study materials are regularly updated to align with the latest syllabus and exam requirements.

In addition to the official ACCA Books, there are various third-party publishers and online platforms that offer supplementary study resources. These resources can further enhance your understanding of the topics and help you practice and prepare for your exams.

Choosing the right ACCA learning provider

Choosing the right ACCA learning provider, such as Eduyush, is crucial for your success in the qualification. An accredited learning provider can provide you with quality teaching, support, and resources that will help you maximize your learning experience

When selecting an ACCA learning provider, consider the following factors:

Accreditation: Ensure that the learning provider is accredited by ACCA. This ensures that the provider meets the high standards set by ACCA in terms of teaching quality and student support.

Reputation and Track Record: Research the reputation and track record of the learning provider. Look for reviews and testimonials from current and past students to gauge their satisfaction and success rates.

Teaching Methodology: Understand the teaching methodology employed by the learning provider. Consider whether it aligns with your learning style and preferences. Some providers offer face-to-face classes, while others offer online or blended learning options.

Support Services: Evaluate the support services offered by the learning provider. This includes access to tutors, study materials, online forums, and other resources that can enhance your learning experience.

Career opportunities with an ACCA qualification

Obtaining the ACCA qualification can significantly enhance your career prospects in the finance and accounting field. ACCA members are highly sought after by employers worldwide due to their technical expertise, strategic thinking, and ethical standards.

With an ACCA qualification, you can pursue various career paths, including:

Financial Analyst: As a financial analyst, you will analyze financial data, conduct market research, and provide insights to support investment decisions and financial planning.

Auditor: Auditors play a crucial role in ensuring the accuracy and integrity of financial statements. They assess financial records, identify risks, and recommend improvements to internal controls.

Tax Consultant: Tax consultants provide expert advice on tax planning and compliance. They help individuals and organizations navigate the complex landscape of tax regulations and optimize their tax liabilities.

Management Accountant: Management accountants work closely with management teams to provide financial insights and support decision-making. They analyze costs, budgets, and performance metrics to drive operational efficiency and profitability.

Chief Financial Officer (CFO Full Form ): The ACCA qualification equips you with the skills and knowledge required to assume leadership roles such as CFO. CFOs are responsible for financial strategy, risk management, and overall financial performance of an organization.

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accountcoaching · 1 year ago

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Top 5 Rewarding Career Options after Completing ACCA

Want to make a flourishing career in Global finance & accounting industry and need a path to get there? Go ahead and read on.

Employers all over the world consider ACCA affiliates and members as perfect F&A professionals with the skills & ethics required to support a sustainable business. They are considered employable because of their innovative and sustainable decision-making capability backed with ethics and professionalism.

ACCA qualification embeds all the key skills (apart from the concepts of Finance & Accounting) expected by Employers from an F&A professional, such as

Effective communication skills

Financial modelling

Stakeholder management

Commercial awareness and business acumen

Business partnering

Attention to detail.

Strong analytical skills.

What is ACCA?

ACCA stands for the Association of Chartered Certified Accountants, and they grant Chartered Certified Accountant degree. It is a UK based professional accountancy body. ACCA qualification is internationally recognized.

ACCA is an International Qualification

The ACCA Qualification is recognized all over the world. It is also known as “Global CA” and opens the world of unlimited opportunities in the fields of Finance & Accounting (F&A).

It has offices in more than 180 countries. ACCA has built relationships with multinational organizations, overseas accounting bodies, educational institutes, governments, and organizations such as the World Bank and the United Nations. This ensures that an ACCA member has opportunities in any part of the world.

Top 5 Career Options you can Choose after ACCA

ACCA concentrates on international accounting and auditing standards that help its members develop the knowledge and skills needed to evaluate the business and provide effective solutions to the management. Following are some of the roles an ACCA Affiliate can take up after completing the ACCA Qualification:

Financial Planner & Analyst

Accountant – Financial & Management

Financial Controller / Corporate Treasurer

Auditor

Tax Specialist

Financial Planner & Analyst

A financial analyst makes business recommendations for an organization based on analyses of market trends, the financial status of a company (or companies) and the predicted outcomes. They give insights to increase the profits and decrease the financial risk.

Financial Accountant & Management Accountant

A financial accountant evaluates financial information with the help of financial statements and balance sheets. Their reporting is aimed to answer questions from external stakeholders like investors, shareholders, bankers, creditors, regulators, etc.

Management accountants identify, measure, evaluate and report about the financial information of an entity. They help management make essential business decisions through critical analysis of data.

Financial Controller

It is a popular career path for an ACCA. They oversee all of the day-to-day operations in the finance department. Their role is to manage the company’s transactions, such as accounts payable, receivable, payroll, control accounts and general operational finance, they also prepare compliance audits, assess financial data and assist in the budget-making process.

Corporate Treasurer

The corporate treasurer is responsible for securing the capital funds to fulfil the entity’s financial obligations. They formulate financial policies and strategies to organize funds, maintain liquidity, invest in best opportunities, and manage financial risk.

Auditor

An Auditor checks and certifies the accuracy of financial and operational data and reports. Auditors ensure that the financial statements are consistent with the regulatory framework.

Tax specialist

Tax expert advises on national and international tax law issues and implications. They ensure the entities meet their tax obligations without superseding the statutory compliances.

Salaries & Employers

ACCA-qualified students earn more than graduates by 50% to 70%. The ACCA salary ranges from INR 6 to 10 lakhs per annum after completing the ACCA qualification, depending on the profile of the job, the candidate’s experience; size, and the location of the company.

ACCA affiliates and members are hired by MNCs and Big4s like PwC, Deloitte, KPMG, EY, Grant Thornton.

ACCA Qualification Eligibility

ACCA is a student friendly body. ACCA Qualification has student entry requirements which are very flexible. It allows the students to enter the path as early as after 10+2, during and after graduation and as late as during work. The ACCA eligibility requirement –

Before Graduation: marks in 10+2 as given below:

65% in Math’s or Accounts; and

65% in English; and

50% in rest of subjects

During Graduation: ACCA has entered into tie-ups with certain universities, to enroll students at such universities pursuing graduation into ACCA qualification based on their accredited programs.

After Graduation: Students of B.Com can enroll for ACCA qualification based on their graduation certificate or professional course completion certificate (e.g.: CA; CMA)

ACCA Course – Syllabus

ACCA syllabus is spread over 13 papers across 3 ACCA levels. ACCA papers are as given below Level 1 – Applied Knowledge (3 papers) Level 2 – Applied Skills (6 papers) Level 3 – Professional (First 2 Essential & 2 Electives) Business & Technology (BT) Corporate & Business Law (LW) Strategic Business Leader (SBL) Management Accounting (MA) Performance Management (PM) Strategic Business Reporting (SBR) Financial Accounting (FA) Taxation (TX) Advanced Financial Management (AFM) Financial Reporting (FR) Advanced Performance Management (APM) Audit & Assurance (AA) Advanced Taxation (ATX) Financial Management (FM) Advanced Auditing & Assurance (AAA)

Detailed syllabus for each of the papers can be found here.

ACCA Exams

ACCA exams are all Computer Based Exams (CBEs), this is one of reasons why ACCA qualified are employable as they are equipped to provide solutions through technology.

The ACCA Exam structure allows a good balance between ACCA preparation and study / work. Exam pattern includes both

On-demand (any time of the year) and

Session based (scheduled exams held every quarter – March, June, September and December).

One can attempt 0 (skip an attempt if not up to it) to maximum 4 papers in each session. One can study on one’s own or take coaching. Though ACCA recommends taking classes from learning partners as they provide continuous guidance, quality tuition and placement assistance and it is not compulsory, the choice is completely on students.

ACCA Exemptions

ACCA believes that a student should not be tested for any subject/topic twice if the skill and knowledge attained are the same. Thus, it permits exemptions for equivalent papers at the first two levels. Minimum 3 upto to a maximum of 9 papers can be exempt for a candidate based on the existing qualification (use the exemption calculator know your eligibility.

Knowledge level is fully exempt for B.Com undergraduates and CAs (inter and final passed).

Skill level is fully exempt for CA finalist and CMA (India) finalist with 5 years’ experience, who have completed those respective papers.

This understanding of ACCA with other institutions around the world helps students get the best out of it. It saves a lot of time in obtaining a professional qualification.

ACCA makes a student equipped with Professional Skills and Job Ready

Comprehensive Syllabus

ACCA syllabus includes subjects like taxation, auditing, law, business studies, professional and ethical issues, financial management, financial reporting, and management accounting. It is based on international accounting and auditing standards. Therefore, an ACCA member is equipped with skills to work across the world.

Analytical skills

ACCA exams involve scenario based or case study-based questions which require analytical skills. This equips its members with skills for evaluating financial requirements, formulating business solutions and proactive forward thinking, making an ACCA member a niche professional.

Partnerships with Employers

The ACCA has partnered with employers all over the world. ACCA has its own Approved Employers, who are formally recognized partners of ACCA. They provide a working environment that is designed to support ACCA members and/or trainees. There are over 8,500 approved employers approved by the ACCA that offer opportunities to the members and students. The ACCA ensures along with approved employers to give better career prospects to members.

ACCA & CA

Both CA and ACCA are highly qualified Accounting & Finance courses designed for professionals who aim for a career in Accounting, Taxation, Auditing, and Finance. CA degree in India is given by The Institute of Chartered Accountants of India (ICAI) and ACCA certification is given by Association of Certified Chartered Accountant (ACCA).

They have similar subjects and a common syllabus to a large extent (spread across Levels I & II of ACCA but the exam patterns are completely different. CA tests mostly conceptual understanding but ACCA emphasizes analytical skills and scenario-based practical application. CA insists on articleship on before completing the final exam, but ACCA keeps exams and practical experience requirement (PER) mutually exclusive.

Compulsory ACCA Subjects for CA Finalist:

Strategic Business Leader (SBL)

Strategic Business Reporting (SBR)

Elective ACCA Subjects for CA Finalist

Advanced Financial Management (AFM)

Advanced Performance Management (APM)

Advanced Taxation (ATX)

Advanced Auditing & Assurance (AAA)

Passing 4 ACCA exams – 2 compulsory subjects, and 2 from elective subjects in ACCA, CA Finalist can acquire ACCA certification from the organization.

What Next After ACCA?

Work in Industry as ACCA – Your chosen profession is in demand; you could join any industry as long as the company has a place for accounting/taxation/auditing. You can take up roles of management accountant, finance manager, treasury, auditor, CFO, etc. ACCA-qualified can work in India and outside India. Many ACCA professionals from India work in countries like the UK, Australia, Singapore, Germany, etc. There is demand for ACCAs in 180 countries where ACCA is recognized. Foreign companies with establishments in India have a huge demand for ACCA professionals. They hire professionals who are qualified for international work and know about international accounting.

Join an Accounting Firm – you can be part of the team which provides solutions for clients in all sorts of industries. This gives a broader perspective to your learnings in ACCA. They specialize in services like audit, tax, management consulting, mergers and acquisitions, forensic accounting, etc. It’s a high-growth and rewarding career.

Continue Studying – ACCA is a great foundation for many advanced specialisms within professional services like MBA, CFA, etc. Which course is better for you depends on your future goals. If you want to venture into business administration then an MBA would be good, but if you want to excel in investment management then you should pick CFA. If you want to just upskill, you can as well do ACCA Diploma in IFRS (DipIFR), which enables your proficiency in accounting.

Start your own Consultancy – Since ACCA equips you with an overall knowledge of finance and accounting, you can comfortably run your own business enterprise of consulting as freelance accountant or advisor to small and medium sized entities.

To Do or Not To Do

The ACCA Qualification is a very cost-effective way to become a finance professional. The fee payments are spread across the levels. The technical knowledge in accounting and finance and professional skills learned on the course together increases the career prospects of the members. A member is employable immediately after the completion of level 3 exams at very attractive pay. The costs can be recovered in less than 6 months.

If you want to become a professional at the youngest age possible with international job opportunities and attractive pay packages this is the course for you.

Article Source: Top 5 Rewarding Career Options after Completing ACCA

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