Benefits of Becoming An ACCA Member – Career Guide

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Benefits of Becoming An ACCA Member – Career Guide

Overview

When opting for a professional career in Accountancy, choosing the right certification course is important to steer your career in the right direction. In such a case, going for the ACCA certification is one of the best ways for the right start. ACCA certificate provides excellent career opportunities, senior job roles, and lucrative salary benefits. If you want to expand your career horizons post-CA, becoming an ACCA-certified professional will provide the much-needed impetus for seeking international recognition and job opportunities in Accountancy and Finance. 

In this blog post, let’s explore the benefits of becoming an ACCA member in this article. 

ACCA Introduction

The Association of Chartered Certified Accountants or ACCA is the official accounting body of the UK which offers global exposure and international recognition in the field of Accounting and Finance. As a professional certification in Accountancy, ACCA validates the credentials of the certification holders as well versed and knowledgeable in Accounting & Finance. As such, ACCA-certified individuals are hired by the top accounting firms, the Big 4s, and many of the top MNCs and organizations worldwide requiring financial and accounting assistance to help reach their organizational needs and goals.

How does an ACCA Certification benefit a CA?

As you know, CA is the Indian equivalent of Accountancy certification – ACCA. Completing one or more levels of the CA certification exam can help you step ahead in becoming an ACCA member. Here’s how:

  • When you have completed the first two levels of the CA course (CA Foundation & IPCC), you are eligible for exemptions in at most five papers out of the 13 papers in the ACCA course.
  • If you have passed CA Final level, you are eligible to be exempted for up to 9 papers out of the 13 papers in the ACCA certification exam.
  • Having studied for CA and ACCA, you will be deemed fit for a diverse set of roles in the field of Accounting and Finance, which will lead to a dramatic increase in salary with a gradual increase in experience over the years.

Now, look at the benefits you would get after becoming an ACCA member.

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Benefits of the ACCA Professional Certification Course

The ACCA certification opens up many avenues in the job field with many excellent benefits regarding dynamic career growth and salary packages offered. But there’s more to the certification than just that. Becoming an ACCA member imparts many other important advantages over your non-certified counterparts, which will help you build a prosperous career filled with lucrative career opportunities in the field of Accounting and Finance. 

Let’s take a look at some of the best advantages of becoming an ACCA member.

  1. Flexibility in Subjects

Pursuing a degree in commerce background or having gathered further educational knowledge in finance and accounting, you will be able to avail some exemptions in some of the papers in the ACCA certification exam. It is crucial in decreasing your time of becoming an ACCA member by reducing the total amount of time required to pass the exam to acquire the certificate for professional practice. Also, with less pressure, you can learn and perform better, thus, helping in your professional career as an Accountant. 

  1. Comprehensive Knowledge of Accountancy

A throwback to the global pandemic period will demonstrate how the financial balance was completely thrown off, especially in the financial industry. Luckily enough, the services of an ACCA-certified individual are essential in the field of Accounting and finance field. 

In your process towards becoming an ACCA member, you have to go through a comprehensive educational process that strengthens your management and financial skills in accounting to give you a thorough knowledge of accounting problems that make you proficient in problem-solving.

  1. International Recognition

Becoming an ACCA member gives you a global pass to work anywhere. Being recognized in over 180 countries around the world, becoming an ACCA member will provide you with the international job market for pursuing your ambitions as an Accountant in the countries where ACCA is valid and accepted. It includes countries like the UK, the USA, Canada, Singapore, UAE, Saudi Arabia, and many more! 

Whether you wish to work in London or California, the ACCA recognition instantly puts you at the forefront of your employers. The ACCA UK body has agreements with many of the accounting bodies of other countries, letting associated members apply for the ACCA certification and transition into the ACCA fraternity seamlessly.

  1. Global Support

Becoming an ACCA member opens up the door to a worldwide network of certified Accountants with over 500,000 certified ACCA members. The growing community of Accountants from all over the world is a helping hand to each other. It can help you while preparing for the ACCA certification exam or while practicing as an ACCA-certified professional.

As members of the ACCA, distinguished ACCAs may be regularly invited to give speeches and contribute at a national or international level. This can allow you to provide ideas and shape the financial structure on the national or international stage. It encourages other members to communicate their ideas and provides them with the connections to make a difference in the world.

  1. Cost Efficient

With the global inflation and rising cost of education in almost every country, the price of education can put a bar on the level of education that one can achieve despite credibility and talent. Pursuing the ACCA certification helps you to complete your ACCA exam with less investment, but the salary packages that you will receive will more than compensate for your course fees.

If you wish to go for a certification course in Accountancy, investing in ACCA will prove to be a smart call. After becoming an ACCA member, you can expect a salary jump up to INR 7 LPA as a beginner. With increasing experience in the field, you get to bag a higher salary with many other exclusive benefits as an ACCA-certified professional.

Another benefit of pursuing ACCA is that you don’t need to travel to other countries to take the ACCA certification exam. In India, you can take the exam in several locations. With the advancement in technology, the ACCA certification exam may be held as part of the computer-based evaluation. It will save you tons of money when you don’t have to travel overseas to take the exam.

  1. Strong Career Foundation

Being a highly valuable and sought-after certification, the ACCA provides a gateway to some of the most lucrative job opportunities in the relevant fields of expertise. This includes taxation, auditing, forensic accounting, insolvency, business accounting, etc. With knowledge in domains like Leadership and Management, Governance, Risk & Control, Corporate Reporting, Strategy and Innovation, Audit and Assurance, and Financial Management, you get all-around coverage for working in any relevant field of expertise after becoming an ACCA member. 

  1. Financial Stability

While it should not be the only reason to choose ACCA, having financial stability as an Accountant after becoming an ACCA member is something to look out for since the pandemic has shown how unexpected hardships can overwhelm the entire world. The ACCA certification is greatly valued by accounting firms and organizations involved in the financial aspects. Therefore, the ACCA certification never loses its value, even in the toughest times. 

So, that’s all for the benefits. Now let us discuss some frequent queries regarding ACCA certification.

FAQs

1.  Is ACCA difficult?

In comparison to most other professional certifications in Accountancy like CA or CFA, ACCA is much easier to study for and clear the exam. In terms of the course duration, ACCA is easier than other certification exams as it can be completed in around 2-3  years. Given the standard of competence, ACCA is globally recognized, while certifications such as CA are only recognized regionally.

2.  Can I self-study for ACCA?

It is possible to self-study for ACCA. However, it is advisable to take up a course on ACCA in order to build a strong foundation in Accountancy. This also enables you to have proper preparation to clear the exam on your first attempt.

3. Can I pass ACCA on the first attempt?

If you are one-minded about clearing the ACCA on your first attempt, you should put ample effort and time into your preparation for the exam. To ease your preparation for the ACCA certification exam, you can enroll in an ACCA course to help you through each stage of your preparation until success.

4. How many years does it take to pass ACCA?

It is possible to complete the ACCA course in just two to three years. Depending on the total number of papers with or without exemptions, you can clear the exam in even less than two years. ACCA allows students to take a maximum of 4 papers during one exam session. Therefore, you can take a maximum of 8 exams in a year. So, if you prepare well, it is highly probable that you can finish the course in much less time.

5. What is the pass mark of ACCA?

Clearing the ACCA exam is easy. It is especially easier compared to the passing percentage of other certification exams, such as the CA exam. The passing percentage of the ACCA certification exam is just 50%

Conclusion

The ACCA certification gives you an edge over other certifications in front of potential employers or clients. It helps you get noticed and be preferred over non-certified individuals, which can be the real deal in your career. Becoming an ACCA member will benefit not only your professional life but your personal life as well. 

If you are planning to pursue a career in Accountancy near your home or abroad, becoming an ACCA member is the way to go. 

So if you are interested in pursuing ACCA, preparing for the ACCA certification exam has been made easy with the help of comprehensive guidance from NorthStar Academy. Expert guides like M Irfat sir have been a driving force in adding more and more members to the ACCA association worldwide. 

When you join NSA, you can avail a host of benefits to help easily clear your ACCA exam without burning a hole in your pocket. Get an all-inclusive ACCA certification course with comprehensive study material of BPP Learning Media as well as online support through classes and online doubt sessions.

Grab this opportunity to get the most sought-after certification in accounting and finance by enrolling for the ACCA course at NSA today!

In case, you still have any questions regarding the courses, contact us.

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