The Association of Chartered Certified Accountants is the global professional accounting body offering the Chartered Certified Accountant qualification. This is often referred to as ‘Global CA’, the qualification is based on international standards. ACCA is the largest and fastest growing global professional accountancy body in the world, with over 633,000 members and students (over 4000 members and students in India), recognized in 183 of 203 countries. The qualification allows you to work as a qualified professional in the field of finance, management and accounting across continents.
It has Global recognition. Employees can get a chance to work in Mumbai, London and Singapore. It is a 2.5-3 years course. There’s no aggregation system, as mentioned above. Average passing rate is approximately 40%. There is high flexibility in terms of work experience. The student must complete 36 months of work experience, similar to Indian CA’s article ship. However, after clearing IPCC group 1, and before attempting for the Final CA, each student must serve 2.5 years in article ship. Further, the person has to work in a practicing CA firm for minimum 2 years and cannot switch the firm or company. For ACCA, the work experience could be in any finance capacity in any company.
It can be a CA firm, or any company which has a finance department. Further, a student can serve this 36 month period at any time of his career. This means he can work before, during or after his studies and also, the student can switch companies. Exams are held in March, June, September and December, giving the student time to work along with preparing for the examination. Dedicated portal for ACCA membership provides job opportunities across the globe (ACCA Careers). It is recognized in all MNCs in India as well as globally.
It is equivalent to an Indian CA in India in terms of designation and pay packages (INR 6-8 lacs for a fresher). An international qualification at your doorstep (INR 5 lacs over 3 years) is much more economical than pursuing international degrees overseas (INR 50 lacs over 2 years). ACCA has high flexibility with respect to the number of papers to be attempted and no aggregation or grouping system. It’s easier to immigrate to other countries if one is an ACCA member. It is the first body to incorporate International Financial Reporting Standards (IFRS) into its syllabus and now being adopted by most countries in the world.
It’s associated with different universities such as University of London and Oxford Brookes which makes it easier to gain an additional qualification such as a Master’s degree. It has better employment prospects as a result of having shown an ability in all areas of business. It assures the employers that the candidate has all the skills necessary for senior management positions. Candidates not only gain specialist knowledge in finance, consulting and accounting, but also acquire valuable skills in organizational management and strategy working in the industry. The academic approach to the qualification is practical-based vis-à-vis theory oriented. For more details log on to: http://www.lezeleacademia.com/
