As the field of accounting and finance is very demanding because of the changes in principles and processes, it is advised to have a good hold of knowledge in the related subjects. CA and ACCA is a good combination in terms of the range of accounting and financial concepts being introduced. It also helps in gaining practical knowledge in this field and also helps in getting connected with well researched people in the same. The seminars and workshops which are conducted for people in ACCA and CA help themselves for updation of the latest changes as well.
Reasons for Why do ACCA after CA?
For anyone to become a Chartered Accountant (CA) it is important for students to be very dedicated and have knowledge in the fields of accounting, auditing and taxation. With an increasing demand for professionals in this business, the need for well trained professionals is also increasing day by day. This is the reason why do ACCA after CA. Few key reasons for the same have been stated below.
Global Recognition and Opportunities
The ACCA qualification is esteemed by recruiters around the world. This global recognition helps ACCA professionals to take up roles in top multinational corporations, accounting firms, financial institutions, and various industry sectors.
- International Credibility: ACCA is recognised globally in over 180 countries which helps the qualified professionals to take up job roles anywhere they wish to. The MNC,s government, start-up, entrepreneurs, and even public sector companies are now looking forwards to employ professionals of ACCA. With ACCA as an additional degree the credibility of the individual also increases.
- Career Mobility: Being globally recognised helps the students to move abroad in major cities like New York, Dubai, Uk, Australia, etc. and work in top financial companies there. The course recognition helps the students to travel around the globe for gaining good work experience and also to increase their knowledge level.
Expanded Career Horizons
Students can now take up roles in various industries and fields by not restricting themselves to accounting and finance itself. They can now move to auditing, taxation, restructuring of company financials, etc. which is different from what is usually expected of people from accounting backgrounds. The companies are now experimenting by placing ACCA professionals in a few related fields as well as they are very good in strategizing and cost cutting suggestions as well.
- Diverse Roles: ACCA careers helps in pursuing and performing job roles beyond traditional accounting and auditing, including financial management, risk assessment, strategic planning, and consultancy. These diverse job roles help in giving a vivid exposure to the students. ACCA and CA can help students explore various career options like consultancy as well.
- Multiple Sectors: ACCA career qualifications are valued across numerous sectors such as banking, financial services, corporate finance, public practice, and consultancy, offering a wide range of career options. ACCA are well recognized in India and they are seen in top positions in big companies here, and the combination of ACCA and CA will just boost the career options.
Complementary Knowledge and Skills
Both CA and ACCA complement each other in terms of the fields they are associated with. CA and ACCA both are from finance and accounting but yet the course structure and the exam pattern is different. By taking up this combination the students get both textual and practical knowledge in this field.
- Focus on IFRS: ACCA heavily emphasizes International Financial Reporting Standards (IFRS), which are vital for global financial reporting and increasingly adopted worldwide. This knowledge complements the national standards covered in CA.
- Broad Curriculum: ACCA covers a diverse array of subjects, including performance management, taxation, and strategic business management, providing a comprehensive understanding of global finance and business practices.
Professional Development
Professionally if anyone is taking up ACCA and CA both together will definitely have an upper edge from those who are only ACCA and only CA qualified. This helps them in making quick decisions and also analyzing difficult situations and giving practical solutions, like, in the case of giving advice on cost efficiency in a firm or capital restructuring, etc.
- Continuous Learning: ACCA requires its members to engage in Continuous Professional Development (CPD), ensuring you stay updated with the latest industry trends, practices, and standards.
- Enhanced Strategic Thinking: The comprehensive nature of the ACCA syllabus fosters strategic and critical thinking, which is invaluable in leadership and decision-making roles.
Networking Opportunities
Both CA and ACCA are professional courses and so there are conferences and seminars time and again for referrals and also to get well-connected with one another. The global community of both the courses is well-knit especially for ACCA as it is well recognized globally.
- Global Network: ACCA offers access to a vast global network of professionals, which can be beneficial for career growth, mentorship, and exploring new opportunities.
- Professional Communities: By being part of both CA and ACCA communities, you can attend international conferences, seminars, and workshops, enhancing your professional connections and knowledge.
Improved Earning Potential
The average earning which is expected of the candidate which has qualified for both ACCA and CA exam, is considered to be way ahead of the average salary of any other finance related professional. These professionals are involved in making key decisions for the company.
- Competitive Edge: Having both CA and ACCA qualifications differentiates you in the job market, often leading to higher salary prospects and better career advancement opportunities.
- Senior Roles: The dual qualifications equip you with the expertise needed for senior management and executive roles in diverse organizations.
Benefits of Why One should do ACCA After CA
There are various benefits of ACCA and CA combination which have been stated below for the students.
Global Recognition
ACCA is globally recognized in over 180 countries, which significantly increases your international career mobility and opens doors to opportunities with multinational corporations and global financial institutions. The focus on International Financial Reporting Standards (IFRS) and a more diverse subject coverage, compared to the CA curriculum, ensures that you are well-equipped to handle complex global financial scenarios.
Better Career Opportunities
Pursuing the ACCA qualification after becoming a Chartered Accountant (CA) offers several compelling benefits that can substantially enhance your professional standing and career opportunities. Pursuing ACCA after becoming a CA amplifies your professional credentials, enhances your career versatility, and better positions you to succeed in an increasingly interconnected and dynamic global business environment.
Learning
ACCA emphasizes Continuous Professional Development (CPD), ensuring that you remain updated with the latest industry standards, practices, and trends. This commitment to lifelong learning enhances your strategic and critical thinking abilities, making you more valuable in leadership and executive roles.
Salary Benefits
Financially, holding both CA and ACCA qualifications often leads to higher salary prospects and better career advancement opportunities due to the unique blend of knowledge and skills you possess.
Conclusion
ACCA and CA offer good career options like taking up roles of financial analyst, investment banker, treasurer, financial analyst, auditor etc. and on a global platform. Both ACCA (Association of Chartered Certified Accountants) and CA (Chartered Accountant) qualifications offer a wide range of career opportunities in various sectors. If anyone wants to delve deep into the fields as mentioned above they should take up this combination as this will help in better career opportunities globally.
Why do ACCA after CA FAQs
Q1. What are the primary benefits of pursuing ACCA after obtaining the CA qualification?
Ans. The benefits of this combination is: global recognition, career advancement, broader skill set in the domain of finance and accounting.
Q2. How does ACCA complement the CA qualification in terms of professional development?
Ans. ACCA complements CA in terms of professional development, global exposure and also introduction to best practices all around the world.
Q3. Will pursuing ACCA improve my earning potential and career advancement opportunities?
Ans. Yes, both the exams CA and ACCA will boost the earnings of an individual significantly.
Q4. Is the process of attaining ACCA after CA streamlined or simplified?
Ans. The process of attaining ACCA after CA is quite streamlined, and there are a few exemptions which can be availed in the number of subject exams to be cleared for CA graduates.
Q5. How does the ACCA qualification enhance global career opportunities for a CA?
Ans. ACCA is well recognized globally, and attaining it after CA will give a lot of exposure to then by catching the eye of recruiters all around.
