Top 8 Reasons to study the ACCA Qualification
The ACCA Qualification is a highly recognized accounting certification across the world. It is designed to equip its members with the accounting knowledge and skills needed to thrive and succeed in the fast-paced accounting industry.
Its curriculum covers beginner to advanced accounting topics such as financial reporting, taxation, audit and strategic business reporting, which helps candidates gain extensive insight and expertise in the accounting sector. The comprehensive curriculum is the core reason why organizations look for certified ACCA professionals who can evaluate the financial needs of the organization and propose business solutions.
While there are many reasons why aspiring accounting professionals choose to pursue the qualification, here are some of the main reasons:
1. Globally Renowned Certification
The ACCA certification is internationally recognized in 181 countries and has over 200,000 members and 486,000 students. The certification focuses on strategic thinking, technical skills, and professional values that helps individuals develop into innovative, strategic-thinking accountants. Furthermore, the ACCA body has partnerships with multinational organizations, overseas accounting bodies, governments, and organizations such as the World Bank and the United Nations which has helped increase its credibility and global recognition.
2. Network of Accounting Professionals
Once the ACCA qualification has been completed, certified candidates become a member of an elite group of the world’s leading accounting professionals. ACCA’s global network offers professionals access to a large talent pool and networking events that helps them gain entry to the best and latest opportunities anywhere in the world.
Furthermore, The ACCA has partnerships with over 8,500 approved employers all over the world. These employers work closely with the ACCA body to increase career prospects and opportunities to the members and students.
3. Computer-Based Exams
Some of the ACCA exams can be attempted as OnDemand CBEs. This offers students the flexibility to appear for the exam at any point throughout the year, receive instant exam results and re-sit for the exam soon after instead of waiting for the next scheduled date.
The key difference between CBEs and paper-based exams is that all live CBEs have different questions as they are automatically constructed from a question bank. It means two people sitting the exam at the same time will get a different version of the exam. It also means if someone sits on an on-demand CBE on a Tuesday, they will get a different version of the exam if they resit the same subject later that week.
4. Comprehensive Curriculum
ACCA takes into consideration emerging trends, legislation, and legal requirements when developing the curriculum. The qualification helps candidates master key technical and management skills required by a chartered accountant such as taxation, auditing, law, business, financial reporting, and ethics.
Furthermore, the curriculum is based on international accounting and auditing standards which ensure that ACCA members are equipped with skills to work in any country where these standards are accepted.
5. Multiple Exam Exemptions
The ACCA certification has multiple entry pathways due to the exemptions it offers candidates based on their highest level of education. This helps candidates start at a level that is consistent with the knowledge and skills gained from prior learning.
Depending on any existing qualifications, exemptions can be awarded across:
- The Foundation level qualifications
- The 9 Applied Knowledge and Applied Skills exams of the ACCA Qualification
6. Exam Flexibility
Candidates that would like to pursue the ACCA qualification, can choose from multiple study options such as classroom training, OnDemand, and live online programs. Each program offers candidates unique benefits that will help them balance their work-study needs while ensuring exam success.
The exam sessions are held each quarter and while some exams can even be taken on-demand, giving the flexibility to progress through the qualifications at one’s own pace. Some of the ACCA levels have optional papers that offer candidates the opportunity to specialize in a chosen area and in several countries, you can even take exams based on your national tax and law.
Additionally, one can even gain additional qualifications on your journey to membership, including:
- BSc in Applied Accounting from Oxford Brookes University
- MSc in Professional Accountancy from the University of London
7. Develop your skillset after receiving the certification
ACCA professionals receive continuous support and guidance from the ACCA institute even after completing the certification. Professionals have access to a range of world-renowned technical and comprehensive resources designed to support one’s professional development (CPD).
Some of the elements it includes are:
- Free access to accounting jobs adverts posted by top employers
- Free access to accounting and auditing standards
- Access to exclusive online and face-to-face learning opportunities and accountancy qualifications from ACCA, as well as from reputable academic and professional partners
- Other national accountancy bodies will recognize your member status
8. Scholarships and Special Offers
Being a widely recognized and valued program, ACCA training providers often provide scholarship opportunities to high-achievers and special discounts such as bundle or group discounts that help candidates save costs when preparing for multiple papers. Some providers also offer added benefits such as training by certified professionals, online learning, and exam practice through doubt clearing sessions and mock exams.