In this article I will walk you through some of the benefits of obtaining ACCA accounting qualifications, the opportunities that arise for graduated students and how you can get started on your journey. ACCA is a globally recognised accountancy qualification. It is a badge of quality and professionalism that ensures your knowledge and skills are of the highest standard.
Regardless of whether you wish to pursue a career in accountancy or not, the diverse set of skills and competencies that you pick up throughout your time studying for these qualifications are invaluable and will help you to progress in your career.
Potential career prospects from accountancy
Accountancy is a subject that extends far beyond mere bookkeeping and the end of your tax filing. By pursuing a degree or subsequent qualifications in accounting you will be laying a strong and diverse foundation on which to build your career.
Achieving your ACCA accountancy qualifications would inherently open new doors with some exciting career prospects across various industries and provide you with a comprehensive knowledge of all subjects that a career in finance or economics requires in the contemporary world of business.
If you are looking at studying accountancy in Ireland, take a look at this article on the different qualifications that the country has to offer.
Advisory and consultancy
Advisory and consulting is one possible avenue that students may wish to progress through after they finish their time on the course. This is a popular choice amongst students as it provides students with a broad range of careers to enter thereafter.
A financial consultant can be both internal and external, where they are hired to provide market insights to companies operating in a variety of emerging markets.
The profession is also great for career progression as it provides understanding for organisational issues, helping to connect companies to their consumers in both B2B (business to business) and B2C (business to consumer) realms.
A consultant provides expert advice in order to add value to their respective client base and supports them in their objectives and plans to improve, innovate and grow sustainably.
Audit and assurance
You could also choose to work in audit and insurance. Obtaining experience in this field of work typically presents candidates with invaluable data analytics skills as it is heavily reliant on advanced analytical software in its day-to-day tasks. These are fundamental and highly sought-after competencies in today's digital economy.
By choosing to work in audit and assurance you will be evaluating information systems and internal controls, gathering evidence, and performing procedures to meet the objectives of the audit and a variety of assurance engagements. You will be providing high-quality work that adds significant value to your client allowing them to navigate their operations through times of uncertainty, creating a more collaborative experience.
You may also decide that a career in financial management is more suited to you. This role entails working closely with clients to make more informed and instructive decisions so that in order to mitigate risk and or increase the surplus of their business model.
A financial manager assists its clients with their financing decisions within the business environment and in implementing effective investments.
Essentially it is your job to ensure sustainable value creation in areas such as tax management, risk management, investment appraisal, business re-structuring, and treasury.
make sure to check out the ATI qualifications!
Taxation is probably one of the first things that come to mind when most people think of accountancy. In this role, it is your duty to ensure that your client complies with the various tax regulation and systems within the respective country in which they operate.
The career will help you to acquire and develop valuable communication skills which are pivotal across countless other careers in business. You will need to work with relevant stakeholders to establish and ethically manage tax liabilities for both individuals and companies. Here you will add value to the company through a strategic mix of appropriate tax computation and planning techniques.
Why you need ACCA accounting qualifications
Whether you have never picked up an accounting book before in your entire life, recently graduated with a degree in accountancy or are looking to progress in your current career path, If you are setting your sights on obtaining accountancy qualifications then ACCA should be at the top of your list!
In fact, you can take comfort in the weight that this qualification holds. If you put the hours in and keep passing your exams, you’ll be surprised at just how much you could get out of your experience studying the course and completing the subsequent examinations.
The qualification will give you the ability to take your career in any direction, opening doors to the best and most interesting roles all over the world. You’ll graduate amongst a class of like-minded peers and become one of the sought-after finance professionals our fast-changing world needs.
ACCA-trained professionals are often headhunted by companies from the time they graduate with their qualifications, meaning you’ll likely spend little time searching for employment after all of your hard work.
ACCA qualified accountants are sought after all around the world due to their technical skills, strategic thinking, and professional values to drive their organizations forward. You’ll also make some valuable connections as ACCA have more than 7,400 Approved Employers and 80 accountancy partnerships worldwide, meaning that you’ll have vacancies to navigate whenever you get around to looking for employment.
You might also find this post on the CPA qualifications of use!
How to become a chartered accountant
Now let’s look at how you can go about getting your ACCA qualifications. First of all, there is no concrete requirement that is universal to all candidates, the amount of training and exams that you need to complete will depend on your past experience with accounting.
For example, if you are just starting out in accounting and finance or you already working in finance but have no formal qualifications, you will not be entitled to any ACCAs exemptions. This means that you will start out with their foundation-level course.
On the other hand, if you have a degree from an accredited university you will be exempt from some Qualification exams. There are a total of 13 exams that you’ll need to complete in order to achieve the qualifications, although 9 of these are eligible for exemption. The remainder are Professional level exams and unfortunately, you won’t be able to claim exemptions for these.
In terms of minimum entry requirements a strong leaving cert will get your foot in the door, but don’t worry too much if you don’t meet the criteria, because you’ll always be able to complete preliminary Foundation courses before continuing on with your ACCA Qualifications.
Once you get on there are many options that are available to you, so it’s important to pick one that works best for you. ACCA offers its students flexibility, allowing them to study full-time, or work full-time studying part-time around your job from anywhere in the world. You’ll also have the option to choose how frequently you sit your exams and how many you take at each sitting.
You can learn full-time, through part-time day or evening courses, online/e-learning, with weekend and revision courses. The average period of time spent by students achieving their ACCA qualifications is approximately 3 to 4 years.
If you are serious about maximising your result in the exams then it is recommended that you study with one of the Approved Learning Partners for student tuition.
If you want to find out more about Chartered Accountants Ireland, pick up some Acca tips and maximise your potential grade in the associated Acca exams and CPA exams, then click here to look at the professional accountancy training in more detail.
You can also work with your tutor to organise the layout of your sessions. Online tutoring will present you with the opportunity to learn from the comfort of your own home on a remote basis via webcam and pre-recorded video sessions.
Evidently, the pursuit for acquiring ACCA qualifications is a long road and is by no means an easy task for even the most academic of students. Luckily there are many qualified accounting tutors available on the superprof platform to guide you along the way.
Through Superprof a student can select their tutor to best suit their particular needs, allowing them to better target their weaknesses across the accountancy syllabus.
The hourly rate of tutoring for accountancy varies from about €12 right up to €30, with some tutors offering a reduced rate for a higher quantity of sessions. Many tutors offer their first lesson for free, giving students the opportunity to try out the service before making any commitments.
Having the assistance of a mentor to work through your ACCA accountancy exam solutions alongside will help you to excel across the extensive range of topics that the course comprises. You’ll be an accountant sooner than you think with the help of a superprof tutor, so why not give it a try today?
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