Is this the BEST time for ACCA?
If you’re a Commerce student in India with aspirations of a successful career in Business and finance, you’re in for some exciting insights! The Association of Chartered Certified Accountants (ACCA) made some significant changes in its qualification process, now you can complete your ACCA course faster & much more economically making it the best time for ACCA.
To know If is this the BEST TIME for ACCA, check out the video below:
Assessing the ACCA Landscape 2023
ACCA stays on top of emerging trends, legislation, and legal requirements and contributes to their development.
According to ACCA Global, more than 500,000 ACCA-certified professionals work in more than 179 countries, including India, UK, UAE, South Africa and many more. Every year, more than 30,000 students start their ACCA journey in India.
As you embark on your ACCA journey, it’s crucial to recognize that you’ll require counselling, coaching, mentoring, and placement assistance along the way. To assess whether this is the ideal moment to pursue ACCA, let’s deconstruct the pivotal factors that shape this decision.
Table Of Contents
Introduction
Assessing the ACCA Landscape 2023
1. New Age Skills
2. ACCA Global Career Opportunities
3. Accelerated Path to Success
4. New Age Examination Approach
5. Financial Consideration
Conclusion
1. New Age Skills
In today’s evolving business world, multinational corporations have shifted their hiring criteria. Instead of focusing on a limited skill set, they now prioritize candidates with a global skillset. ACCA, as an institution, remains adaptable to these industry changes. This is the best time for ACCA Qualification as it ensures that you stay up-to-date with the new-age skills, positioning you as a highly valuable asset in the competitive job market.
India is going global every day MNCs around the world are entering the Indian market, Don’t believe in the myth that you can get jobs only in the U.K. ACCA’s global recognition opens doors to promising career opportunities not only in India but in countries as well like Europe, the Middle East, Africa, and other regions known for their attractive employment prospects and quality of life.
2. ACCA Global Career Opportunities
- In India, a substantial number of students actively seek employment opportunities annually. To ensure a competitive edge on your career path, it’s advisable to pursue the ACCA qualification alongside your B. Com degree. ACCA qualifications hold a prestigious position and are in high demand across a wide spectrum of sectors.
- They have garnered recognition and trust from industry leaders, including the Big Four firms (KPMG, E&Y, Deloitte, PWC), as well as global multinational giants such as Citicorp, JP Morgan, Microsoft, Google, ZARA, Apple, HSBC, Siemens, Nestle, and Accenture, among others. The ACCA designation enjoys widespread acclaim and credibility within the corporate landscape.
- ACCA opens doors to a plethora of captivating career opportunities worldwide. These opportunities span diverse functions, including Corporate Financial Reporting, Audit and Assurance, International Taxation, Legal Governance Risk and control, Management Accountancy, Corporate Finance, Merger and Acquisitions, Financial/Business Analysis, Credit Control, and much more.
- Notably, the starting salary for ACCA-qualified professionals in India is highly competitive, ranging from INR 5 to 7 lakhs per annum. This means that you can embark on your corporate journey as early as the age of 20.
- ACCA is actively engaged in collaborations with a wide array of stakeholders, including financial services, consulting manufacturing, FMCG, oil, gas & energy, public sector, global business services, etc. Currently, ACCA boasts partnerships with over 7,820 approved employers and 95+ accounting firms worldwide and connects members with thousands of vacancies through the ACCA careers job portal.
3. Accelerated Path to Success
ACCA now offers more exemptions, particularly if you are an undergraduate or graduate in B.Com or B.Com specializations from an accredited state or central university. This means a quicker path to completing your ACCA course in just 2 years instead of the typical 3. You can skip 5 exams (ACCA BT, MA, FA, LW & TX), reducing the requirement to only 8 papers instead of the daunting 13. Check whether your BCom program and universities are eligible for these 5 exemptions. This allows you to tailor your study schedule to your current student lifestyle, all while unlocking exciting career prospects earlier than you ever imagined. How thrilling is that?
From the very beginning of your academic journey, ACCA stands as a symbol of excellence, integrity, and accountability. Moreover, ACCA goes beyond supporting its members; it actively collaborates with governments, organizations, regulators, and employers to drive the future of the accountancy and business sectors through groundbreaking research.
Empower Your ACCA Course with Flexible High-Quality Learning. We, Synthesis Learning, being a Platinum ALP (Platinum ALP status for ACCA is the highest level of accreditation for Approved Learning Providers, a testament to their exceptional quality and outstanding pass rates) can help you design a comprehensive ACCA journey by providingcounselling, coaching, mentoring, and placement opportunities. Check out the awesome global ranks our students scored – they’ve really made us proud!
4. New Age Examination Approach
Students can register for exams in any of the four sessions offered throughout the year: March, June, September, or December. These exams are conducted entirely online and emphasize a hands-on, practical approach that includes working with tools such as Excel sheets, spreadsheets, and Word documents for problem-solving. These exams prepare you for the real work-like scenarios that you will face while working. ACCA is widely recognized for its highly valuable professional certifications, making it the preferred choice for individuals seeking recognition in the fields of accounting and finance.
5. Financial Considerations
We recognize the significance of financial considerations, especially for driven commerce students in India. In the past, pursuing ACCA as an undergraduate could incur costs ranging from 4.5 – 5 lakhs, encompassing various fees. However, ACCA’s recent updates have resulted in a substantial reduction, cutting the course cost by a minimum of Rs 1 lakh. Now, completing ACCA will set you back approximately 3.5 to 4 lakhs, aligning it with the cost of other prominent Indian professional courses such as CA, CMA, and CS. This remarkable decrease in expenses positions ACCA as an economically viable pathway to acquire knowledge and expertise in the realm of Business and Finance.
Conclusion: Seizing the Opportunity
In summary, the ACCA landscape in 2023 is a golden opportunity for Indian Commerce students. With the industry’s evolution, flexible exemptions, an accelerated path to success, and reduced financial constraints, pursuing ACCA is a strategic decision. It’s not just about skill enhancement; it’s a transformative journey towards a dynamic career in the world of business and finance. So, don’t hesitate any longer; seize the moment, embrace ACCA, and prepare to embark on an exciting voyage toward a global business and financial future. If you’re contemplating whether 2023 is the BEST time for ACCA, let us assure you, it’s a resounding “Yes!”
