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

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
acca qualification in nepal

Study ACCA qualification in Nepal

The Association of Chartered Certified Accountant (ACCA) is a leading global accounting body based in the United Kingdom offering ACCA qualification around the world. ACCA qualification serves as one of the best career options for students who are determined to become competent accounting and finance professionals. With the ACCA qualification, you can discover a world of opportunities on various roles in accounting, finance and business management.

ACCA qualification has 110 years of history delivering values and preparing qualified accounting professionals. That’s why employers all around the world trust ACCA qualification as a ‘seal of approval” in the field of accountancy and finance.

Reasons to choose ACCA Qualification in Nepal

Worldwide Recognition

ACCA is an internationally recognized global accounting body with 208,000 members and 503,000 students in 179 countries around the world. This means, once you have successfully completed the ACCA qualification, you become part of a globally recognized accounting body.

Every organization needs an accountancy and finance professionals to run them efficiently. ACCA professionals are in high demand by employers in the industry, banking, auditing, consulting and other professions like taxation and law. With ACCA qualification, you can travel and work anywhere in 179 countries. ACCA has partnered with ACCA Approved Employers who provide a working opportunity for ACCA members and trainees. ACCA has more than 7400 Approved Employers globally. Further, there are more than 80 accountancy partners worldwide that help to find the job for  ACCA professionals through the ACCA career job boards.

Practical work experience

The ACCA qualification not only focuses on theoretical knowledge but also on practical application of knowledge. Students must go through 3-year practical experience (internship) under certified Accountant professionals to be eligible for an ACCA qualification. By this time, students will have diverse knowledge and understanding of various areas of Financial Management, Taxation, Audit and Assurance, and Financial Reporting. In addition, students need to complete 20 hours of online training on “Ethics and Professional Skills Module”. So, ACCA professionals can carter their technical skills and professional values to drive the growth of a company. That’s why  ACCA professionals are highly qualified and regarded worldwide for their in-depth knowledge and practical work experience.

Flexible Study Options

Studying ACCA qualification offers many options for students. You can study full time, part-time, in-class or over the internet, at their own pace. You can study with ACCA  “Approved Learning Partner” (ALP), face to face with tutors, take an online class or choose a mix of three at your convenience.

You can enroll in an “Approved Learning Partner” as a full-time student to complete the course as soon as possible. Working professionals can organize their own time and can study part-time. Furthermore, you can study online through ACCA X.

It offers flexible options for students to learn through different channels. For example, you can attend a classroom for certain papers, and take an online class for other papers. In addition, you can get an opportunity to get additional qualifications – a BSc degree from Oxford Brookes University and an MSc degree from the University of London through your journey to ACCA qualification.

ACCA qualification exams are held quarterly. Students must pass 13 exams to get the ACCA qualification. Students have flexible options to take an exam on their preferred time and simultaneously carry out their work experience. They can also take an exam in their chosen field as there are ranges of subjects available to specialize in:

  • Advanced Financial Management
  • Advanced Performance Management
  • Advanced Taxation
  • Advanced Audit & Assurance
Career Progression

Research shows that building professional networks lead to more job opportunities, deeper knowledge, improved quality of work and job satisfaction. ACCA qualification gives you access to a global network and ample opportunities for career progression. Upon getting ACCA membership, you will have access to thousands of professionals globally on the ACCA LinkedIn Network, where you can connect with fellow ACCA professionals. Similarly, you will have a global networking opportunity among fellow students through the ACCA Virtual Learning Community.

Having ACCA qualification opens doors to outstanding careers in accounting, finance, and senior business management positions. ACCA qualification follows international accounting standards. Also, ACCA professionals have a better understanding of the rules and laws of accounting practice worldwide. In addition to knowledge, employers are looking for soft skills in prospective employees. Various skills such as communication skills, interpersonal skills, ability to work in a team, leadership skills among few. The best way to learn soft skills is through work experience. What sets apart ACCA members from other professionals is their 3-year work experience to get ACCA qualification. Up to this time, they have a better understanding and experience of working culture and corporate systems which is beneficial for their career progress.

ACCA qualification emphasizes continuous improvement, high performance, and consistent achievement to become a better accounting professional. Every year, ACCA professionals must do Continuous Professional Development (CPD) training as part of ACCA membership in order to keep up to date with the latest knowledge and skills in accounting and financial practices. These practice helps to bridge the skill gap and equip professionals for their career progression.

Quality Assurance

The resources ACCA qualification provides meet the high standard. Upon joining the ACCA course, you will have access to online resources, study guides, past papers, and study guides. You will have 24/7 support in an online learning community. Furthermore, the course is taught by highly qualified ACCA professionals.

ACCA regularly look into Approved Learning Provider(ALP) that are specially selected under ACCA supervision. Seed Financial Academy is one of the ALP’s that offers the ACCA qualification in Nepal as per the standard approved by ACCA.

Moreover, the incorporation of the concept of 3Es: Exams, Experience and Ethics as the core elements of ACCA qualification will prepare an outstanding accounting professional. No doubt, the achievement of these elements supports your professional growth.

Study ACCA qualification in Seed Financial Academy

Seed Financial Academy was established to address the need for quality and result-driven teaching of professional courses like ACCA qualification in Nepal. Students currently struggle to access the resources and support required to succeed in professional courses, with academic courses dominating the curriculum. At Seed Financial Academy, we are dedicated to the provision of eminent professional education at our state-of-the-art campus, with interactive, tech-based learning. Our mission is to coach students, not only academically, but prepare them for successful professional careers with our complimentary courses in interpersonal skills, resilience, and personal development. Currently, we offer courses on:

  • The ACCA qualification
  • Diploma in Accounting and Business Foundation in Accountancy (FIA)
  • B.Sc (Hons) in Applied Accounting
  • Diploma in International Financial Reporting Standards (Dip IFR)

If you have any questions, you can visit our Frequently Asked Questions (FAQs) page or Contact us at: +977(1)4410113.