5 Myths that stop you from Pursuing ACCA

So, you came across an exciting professional degree- ACCA. You sat in front of your laptop and did some research, talked with people who are pursuing or have already passed it. Their response is positive. With its global recognition, it’s flexibility, the interesting syllabus and diverse career opportunities, this qualification just seems to fit your career objectives.

You think of pursuing it, but meanwhile, you start hearing about widespread myths and misconceptions about the ACCA qualification from different people and sources. You can’t escape it and now having second thoughts on whether you should pursue ACCA or not. We are inherently more susceptible to negative reviews than positive.

So, are these talks and fallacies that discourage you to finally land on your dream qualification and career real? Well, let’s find out.

Now that I have cleared all of my skills level exams, shortly worked in an audit-firm and contracted for internship in the capital market field, I can look back to say, ‘Yes, I made the right choice’. ACCA is in alignment with my career goals, opened the doors for endless possibilities in the broad arena of accounting, auditing, finance, and whatnot.
Based on my experience and knowledge, I have attempted to bust 5 of those myths that stop students from pursuing ACCA with actual reality to make it clear for you to decide.

MYTH #1
Since its UK-based degree, I will struggle to find Job in Nepal after ACCA. 
Or, I will have to settle or move abroad after completion.

REALITY: There is a huge scope of ACCA in Nepal. Many ACCA affiliates and members are working as mid and top-level managers with an attractive profile and salary in the big reputed organizations including the public service or government sector. The world becoming increasingly global makes ACCA even more lucrative qualification to pursue and the scope for ACCAs only seem to be going up. The fact that ACCA is UK-based Chartered Accountancy only opens the opportunities in abroad without hampering the scope and opportunity here in Nepal.

MYTH #2
ACCA is expensive.

REALITY: Fees of studying ACCA in Nepal ranges anywhere between 4-6 lakhs which is cheaper than other qualification like BBA and almost equal to other Chartered Accountancy qualification. On top of that, some colleges will even provide you with a scholarship. Honestly, the tuition fee is very affordable for one of the leading financial courses around the world. It’s more like an investment than an expense. Once you are qualified as ACCA, the payback of the amount one spends on pursing it is in around 1 year and the career growth is infinite. In short, it’s a worthy investment.

Myth#3
ACCA is an extremely tough course and I cannot pass it. 
Or, I need to study 14-16 hours daily to pass it.

REALITY: If you plan everything from the beginning, give few hours daily and use the resources wisely, it’s not that difficult at all. However, you cannot expect to pass by studying a night or a week before the exam. It becomes tough because people work hard in the wrong direction and are less aware of all the study resources, exam-style and examiner’s expectations. Small continuous effort and a good approach are all it takes.

Myth #4
ACCA is all about numbers. The profession is boring with no social life and friends

REALITY: This is not true. ACCA is a lot more than just numbers viz; analysis, client relationship, decision-making, implementing various strategic decisions, teamwork, presentations, going to various organizations for audit etc.
ACCA is anything but boring. The job roles are self-actualizing and since you have a lot of career options to choose from once you qualify, you can dive in the field that excites you. Furthermore, you can always have a good balance of personal and professional life. Also, with the increased network, you will never run short of friends.

Myth #5
I need management/commerce high-school degree to pursue ACCA.
Or, I am a Science or student from another stream, so, it is not for me.

REALITY: There is no specific high school degree requirement to pursue ACCA. You can be from management, science or any other stream and still pursue it.
Since the course structure starts from the foundation level, you will learn from the very basics ,therefore, no matter which stream you chose in +2, you will not face any difficulty at all.

Apart from these, some might say there are no good colleges. That’s again not true. There are some of the best ACCA colleges in Nepal with astonishing achievements like world rank 1st.

These myths are floating around on unreasonable grounds and make students reluctant to apply and land on their dream qualification. Don’t let these myths stop you from achieving your dream.

Ujjwal Ghimire

Career Opportunities after ACCA

Career Opportunities after ACCA

Career Opportunities after ACCA
With businesses and industries becoming increasingly global and converging at a very fast rate, ACCA has emerged as one of the most desirable qualifications for anyone willing to build up a career in the business world of accounting, auditing and finance.

ACCA offers the globally recognized, updated and industry-relevant content making it a truly global degree. Thanks to its well-designed course that updates and gets revised almost every session to reflect the latest developments in accounting standard and includes the emerging topics and skills that actually matters in the workplace. For instance, trending concepts of sustainability accounting, data analytics and even Block chain have been included in the syllabus.

Moreover, ethics modules and three years compulsory Practical Experience Requirement (PER) for all students equips them with the required technical expertise, organizational skills and other ethical aspects that makes ACCA as one of the most sought-after degrees by the employers. The requirement for Continuous Professional Development (CPD) for the members adds up to the relevance and reputation of ACCA in the job market.

Here is the listing of some of the reputable job roles that offer impressive profiles and handsome salaries after ACCA;

  1. Audit and Assurance Services
    Their job role is to perform an independent, objective assessment of financial statements or compliance efforts. Many ACCAs are working in reputed audit firms in Nepal and even in BIG 4s around the world.
    Another area in audit is – Internal Auditor
    They add value and improve operations in the organization by bringing a systematic and disciplined approach to the effectiveness of risk management, control, and governance. They also analyze reports, develop annual plans, identify loopholes, recommend risk aversion measures etc.
  2. Finance Manager
    Their responsibility is, but not limited to, monitoring the day-to-day financial operations within the company, such as payroll, invoicing, and other transactions, tracking the company’s financial status and performance, researching market trends, identifying areas for potential improvement and producing financial reports.
  3. Tax consultant/Advisor
    They are experts in tax law, planning and compliance. Preparing tax returns, conducting research on tax laws, strategizing with clients to minimize tax liability, communicating with clients to explain tax issues preparing tax returns, estate planning, keeping clients compliant with their tax obligation etc. are the responsibilities as a tax consultant.
  4. Management accountant
    They aid managerial planning and commercial decision-making tasks by providing appropriate financial information and undertaking related accounts and administration. Preparing reports, budgets, commentaries and financial statements, variance reports, forecasting budgets, supervising accounting technicians are some of their job responsibilities.
  5. Business Analyst
    Developing technical solutions to business problems, or to advance a company’s sales efforts by defining, analyzing and documenting the business requirements. They also perform variance analysis, prepare financial models, make forecasts and assist in pricing strategies.
  6. Finance planner
    They research and develop strategies on investment, risk management and tax planning. They also draft consolidated forecasts and budgets and analyze trends in revenue, expense, capital expenditures and other related areas.
  7. Investment Banking
    Though not explored much by ACCAs, this is one of the most well-respected and highly paid domains in the field of banking. One can provide support in the treasury related accounting, balance sheet accounts which would include cash as well and check for the accuracy of capital market pricing. They can also support financial reporting around valuations and assist in the research of investment opportunities.
  8. Credit Control Manager
    Credit Manager has a vital role in the finance department to ensure that invoices are paid on time to assist the organization. They manage team of credit control officers, formulates credit policies for the company, prepare credit notes, negotiate terms with third party debt collection agencies, review and report on aged debtors, ensure creditworthiness etc.
  9. Risk Manager
    Their job is to ensure that the company secures its reputation and profitability by identifying and advising on various types of risks (business, financial and legal) and potential threats and create plans to prevent and mitigate these problems.
  10. Compliance/Governance officer
    A Compliance Manager ensures a company functions legally and ethically while meeting its business goals. They are responsible for developing compliance programs, reviewing company policies, and advising management on possible risks.
    Chief financial officer, Treasurer, Business Advisor -The list goes on and on. Apart from these lucrative career options to choose from, the other perk of ACCA is that it is well recognized and can help student land on these jobs in the renowned MNCs and in any part of the world.

Besides, those who wish to specialize on other areas of their interest, ACCA opens doors to many other qualifications like MBA and CFA and also provides with relevant skills and expertise to successfully start, operate and manage their own business.

Ujjwal Ghimire
Strategic Professional Level Student at Seed Financial Academy

Best ACCA institute in Nepal

Best ACCA Institute in Nepal | ACCA college in Nepal

Best ACCA institute in Nepal | ACCA College in Nepal

ACCA (the Association of Chartered Certified Accountants) Qualifications is a highly-regarded accountancy qualification. It is the global body for professional accountants that operate from Uk.  ACCA’s degree is applicable in 180+ countries. ACCA works through a network of over 104 offices and centers in 52 countries – with 323 Approved Learning Partners (ALP) and more than 7,300 Approved Employers worldwide, who provide employee development. 

The qualification is designed to teach students the financing and accounting knowledge, skills, and professional values to build a successful career. It is a legally protected term. The person who introduces themselves as chartered certified accountants must be members of ACCA.  

To become a qualified chartered certified accountant, you need to complete:

While you search for ACCA training, you can find a number of institutions in Nepal that provides ACCA courses. But finding the best one is always a tough job. Being the best ACCA institute in Nepal, Seed financial Academy is dedicated to providing excellent results under the guidance of its professional management and dedicated faculty. It is a Gold Approved Learning Partner and also a Licensed Center of ACCA, UK. The careful and fastidious training and teaching-learning methodology they offer ensures that the students get quality education along with world-class technical training. 

If you want to develop a successful career in finance and accounting, you can choose Seed Financial Academy. Before joining the courses, do some research about the institute and also you can check how experienced the faculty of the institute are. 

Why study your ACCA with Seed financial Academy?

  • Dedicated and professional team of management.
  • Prominent team of the faculty members with extensive experience ranging from 3+ years to 10 years in teaching professional accountancy courses.
  • Mock exams and feedback.
  • Digital classroom and techno-savvy learning environment.
  • Dedicated support and mentorship through every step of your studies.
  • Career and interpersonal development programs that prepare you to be work-ready when you jump into your professional career. 

Apply Now

If you have any questions feel free to visit our FAQs page. If you don’t find the answers you need here, contact us.

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Why is ACCA important?

ACCA (The Association of Chartered Certified Accountants) Qualification is a global body for professional accountants and is trusted as one of the most prestigious professional qualifications globally. It has its presence in almost 181 countries. This shows that an ACCA Member can move around the globe for unlimited opportunities. An ACCA can work in various sectors like Finance, Accounts, Audits, Consulting firms and so on. This qualification is also a gateway to ethics & professionalism. It is not only about gaining technical knowledge in accounting and finance, but also obtaining valuable skills in organizational and strategic management.

Why is ACCA important?

The ACCA qualification helps in developing successful careers in various industries like banking, auditing and consulting. ACCA qualified professionals may also think about careers in the field of taxation. It is regarded as one of the most popular and valuable qualifications. Some of the reasons are:

  •         Global Recognition

ACCA is recognized worldwide as a prestigious qualification that helps an ACCA student to move around the globe to pursue ACCA, sit the exams and also make way for ACCA members to work in any part of the world.

  •         Opportunity to work anywhere in the world:

ACCA is a highly regarded accountancy qualifications. It helps to gain not only accountancy and financing knowledge, but also provides the best skills which help to work anywhere in the world.  

  •         Build your own path

If you want to develop a successful career in finance and accounting, ACCA qualifications are the best course a person can choose to take their career one step further. These courses not only give you an opportunity to grow and make a renowned career but also help you become superior in your professional career.

If you are thinking to join the ACCA course, Seed Financial Academy can be a better choice for you. With experienced and renowned tutors, SEED can be the best place to secure your career. To know more about qualification and the way of achieving it, contact us.

“Success is no accident, it is hard work, perseverance, learning, studying, sacrifice, and most of all, love what you are doing and learning”. – Unknown

baburam adhikari

CA, ACCA and CPA Misconception and Facts

“Chartered Accountant (CA)” is a very popular designation in Nepal and mostly in South Asia. However, most of us might be unaware that there are so many other designations in the world such as Certified Public Accountant (CPA), Chartered Certified Accountant (ACCA), Public Accountants (PA) which are similar to CA designation and persons having those designations perform similar works as those done by Chartered Accountants. To clarify the misconceptions and spread the awareness of facts about these designations and the qualifications, I, hereby, have made some common and distinguishing points about some popular professional accountancy qualifications and related designations around the world.

Common Responsibility:

Whether called CA, CPA or ACCA, they all are Professional Accountants or Public Accountants whose primary responsibility is to act in the best interest of the public. CA, ACCA or CPA is also the name given to the Qualification to become a Professional Accountant. There are many other names such as Public Accountant, General Accountants used to refer professional accountants in different countries.

Umbrella body:

These designations refer to the membership of professional accountancy bodies and those professional bodies are the member of an international body called IFAC (International Federation of Accountants), also known as the mother body of accountants.

Auditing Right:

All designations mentioned above have the Public Practice Right (what we understand as audit in general sense) in the country of their origin. However, for audit practice, the members need to hold a Certificate of Practice (or other similar certificate) awarded by their professional body. Gaining public practice rights in other foreign countries is only possible if there is a pathway. The pathway may exist as per the Mutual Recognition (bilateral) Agreement of the particular body with the local body or unilateral recognition/exemptions provided by body of the respective country.

Minimum requirement, different structure:­

The criteria for awarding membership and practicing certificate vary from body to body but in common, all designation at least requires completion of Specified Examination and Practical Experience. However, the structure of qualification, rules, subject matters, examination pattern, experience eligibility, etc. of each body are different.

Employers viewpoint

Employers who have at least little awareness about these designations treat them as Par. For reference, here are extracts of two vacancies:

Announced by WTO (World Trade Organization) for the Internal Auditor:
REQUIRED QUALIFICATIONS (Education):
An advanced University degree in Auditing, Accounting or other related fields with a financial orientation or a combination of a basic University degree with either a professional certification or proven professional expertise. A professional certification such as Certified Internal Auditor (CIA), Chartered Accountant (ACCA/CA), or Certified Public Accountant (CPA).

Announced by NRB (Nepal Rastra Bank) for Officer 3rd Level:Newspaper NRB Vacancy Post

Varied Recognition :

Though CA, CPA and ACCA are similar qualifications, in each country the value and recognition of one may supersede the other depending upon the market, market share of bodies, awareness amongst & preferences of employers, the legal status and the relationship with the national body, agreement with employers/govt. bodies/universities etc.

Awarding Bodies:

The most interesting fact is there is only one body (UK based Association of Chartered Certified Accountants) providing ACCA qualification all around the world whereas CPA and CA qualifications are provided by local bodies in various countries (for eg. CPA qualification is provided by American Institute of Certified Public Accountants (AICPA) in USA and by CPA Australia in Australia, likewise, CA is provided by Institute of Chartered Accountants of India in India and Institute of Chartered Accountants of Pakistan in Pakistan)

No. of bodies in a country:

In some country there is a sole body which provides its members right for statutory audit however interestingly in some countries, there are two or more than two bodies having access to such right. For instance, in the USA only AICPA is recognized for having statutory auditing rights whereas, in UK ACCA, Institute of Chartered Accountants of England and Wales (ICAEW), Institute of Chartered Accountants of Scotland (ICAS) and Chartered Accountants Ireland (CAI) have public practice right.

CA, CPA and ACCA in Nepal:

In Nepal, large no. of CAs from the Institute of Chartered Accountants of Nepal (ICAN) & Institute of Chartered Accountants of India (ICAI), hundreds of ACCA members from ACCA, UK and very few CPAs from AICPA are working in industry and in practice. Only the members of ICAN have public practice right in Nepal. As of the date of publication of this article, there is no pathway for new members of ICAI and members of AICPA to get the membership of ICAN. However, ICAN has a mutual collaboration agreement with ACCA, UK which has provided a pathway for members of ACCA for ICAN membership and public practice right. CA education is imparted by coaching centers accredited by ICAN whereas ACCA qualification is imparted by the Approved Learning Providers of ACCA. No tuition providers exist for CPA qualification.

Misconception and facts about CA, ACCA and CPA –Written by Mr. Baburam Adhikari ACCA, a member of the education team of Seed Financial Academy