Why is ACCA Getting Popular in India?

The Association of Chartered Certified Accountants qualification has grown rapidly in India in the last few years, with many professionals seeking the certification as an international standard credential to pursue careers in finance and accounting around the globe. The demand for certification is prompted by qualification flexibility, global recognition, and rising demands for accountancy specialists working within the financial scenery of multinational companies.

What is ACCA?

ACCA, which stands for Association of Chartered Certified Accountants, is one of the international accounting bodies having a certification recognized all over the world due to the highly stringent processes and ethical standards applied in the field of accountancy. From its inception in the UK, the powerful roots of ACCA have grown in over 180 countries, including India.

Why Choose ACCA?

• International Acceptance: ACCA members are recognized by employers worldwide due to strategic thinking, technical competencies, and professional attitudes.
• Flexibility: ACCA offers flexible scheduling for examinations and is fully responsive to full-time or part-time studies, ideal for working professionals.
• Comprehensive Curriculum: IFRS-compliant, inclusive curriculum consisting of financial management, performance management, tax laws, and auditing.

The Importance of ACCA Certification

The global marketplace is the strongest reason for obtaining ACCA certification by having the necessary proficient professionals to excel. In that regard, the ACCA is considered by employer federations and government bodies across the world, which makes such certification important and relevant.

Advantages Over Other Qualifications

• Broader Scope: Unlike locally focused qualifications, ACCA’s curriculum covers international accounting and finance standards.
• Professional Status: ACCA members can gain additional credentials like ‘Chartered Global Management Accountant’ (CGMA), enhancing their professional stature.

Eligibility for ACCA in India

Entry Requirements

To start ACCA, you need:

• The candidate should have passed two passes at GCE A-level and at least three GCSEs in five different subjects, which should include English and Mathematics.
• Graduates from recognized universities can also claim exemptions for certain papers of ACCA.

Registration Process

Registration for ACCA in India is straightforward:

• Documentation: Submit your educational certificates and proof of identity.
• Fees: Payment of initial registration fees and annual subscription fees.

Jobs After ACCA & Career Scope in India

Career Paths and Progression

After obtaining ACCA certification, professionals can pursue careers in:

• Auditing and Assurance Services
• Corporate and Business Accounting
• Financial Consultancy and Risk Management

Growth Opportunities

• Vertical Movement: ACCA members can quickly move into senior financial roles like CFOs and finance managers.
• Diverse Industries: Work across various sectors such as banking, consulting, and public practice.

What Are ACCA Job Opportunities in India?

Industries and Roles

ACCA professionals are in demand in industries like:

• Financial Services
• Consulting Firms
• Public Sector Units

Expected Salaries

• Entry Level: Newly recruited ACCA members would expect INR 4-6 lakhs in a year.
• Experience: The mid and senior roles can go up to an amount of INR 20–30 lakhs, depending on the role and experience.

Which Companies Are Hiring ACCA in India?

Top Employers

Some of the top companies hiring ACCA-certified professionals in India include:

• Big Four Accounting Firms (Deloitte, PWC, EY, KPMG)
• Multinational corporations like HSBC and Standard Chartered

Recruitment Trends

• Increased demand in fintech and startups for compliance and financial strategizing roles.
• Growing opportunities in healthcare and technology sectors.

Conclusion

ACCA qualification offers an excellent career scope and a very well-defined professional career course in finance and accounting not only in India but also all over the globe. Prospects for ACCA in India are bright owing to the growth in the economy and the enhanced penetration of multinational companies. As industries of various countries are becoming more dynamic and integrating with global standards, the demand for ACCA-certified professionals will certainly see an increase. Therefore, this would be a great and prudent career option.

Does ACCA Have Scope in India FAQs

What is the eligibility to register for ACCA in India?

Eligibility for ACCA in India includes having two A-level passes and three GCSEs or equivalent, including English and Math. Graduates from recognized universities may receive exemptions from some exams.

How is ACCA different from CA?

ACCA is globally recognized and provides a broader curriculum that includes international finance and accounting standards, whereas CA is more focused on Indian accounting standards.

Are there any exemptions for Indian CA in ACCA?

Yes, qualified Chartered Accountants from India are eligible for exemptions from up to nine exams out of the fourteen ACCA exams.

What are the fees for ACCA in India?

The fees for ACCA include an initial registration fee, annual subscription fees, and exam fees, which vary depending on the number of papers you are exempted from and the mode of study.

Which are the best companies to work for as an ACCA in India?

Top companies include the Big Four accounting firms, multinational banks like HSBC and Standard Chartered, and various other multinational corporations.