As you celebrate the milestone of earning prestigious CA prefix before your name, it is also important to set a stage for what next? In the wake of globalization and digitization, the future of finance and business appears very dynamic and evolving. Most of the top MNCs like KPMG, Deloitte, PwC, WIPRO, Coca Cola, etc. are likely to favor professionals who possess futuristic skills in a global environment in their area of work. Courses such as CFA & MBA have been some of the preferred options. While CFA is specific to the global capital markets, an MBA requires full-time devotion which means taking a break from your existing job.
One of the most complimenting qualifications in accounting & business which is gaining momentum extensively in India is the ACCA program. ACCA is the Association of Chartered Certified Accountant, the world’s most forward-thinking professional accountancy body based in the UK with 100+ years of experience. ACCA Course is a globally recognized course with more than 219,000 fully qualified members and 527,000 students in 179+ countries. In other words, it is a Global CA Qualification. ACCA gives you an upper hand after/with the completion of CA, here’s why:
1. Globalization and Changing World of Chartered Accountants
The 3 most important changes shaping the future are:
- The emergence of digital technology and machine learning in accounting & finance
- Global regulations of business & profession
- Emergence and increase of new global services and assignments
2. Futuristic Global Business Leadership Skills and changing Employer Expectations
Since automation and artificial intelligence will soon take over lower-level tasks of report compilation, transaction processing, etc., employers expect employees to empower themselves with an array of skills like:
- Niche senior analytical attitude with skills for interpretation of complex data
- Cross country experience with learning agility
- Developing a portfolio of experiences V/S linear specialized career
3. Better Global Jobs and assignments
ACCA helps you with the power of connections globally through their network of employers. You will create endless opportunities for career development with MNCs, Big 4 along with better and bigger global assignments and secondments. Over and above, you will enjoy making new connections by working in different countries.
4. Exemptions & High Passing Rates
Once you have completed your CA, the major advantage you have with ACCA is the Exemptions. ACCA allows you to skip those papers which you have already mastered. Given that CAs are exempted from 9 out of 13 papers, you must write only 4 papers and can expect to complete the qualification within 6-8 months. The exam is held every quarter and you have the option to write as many papers as you are adequately prepared. Hence the average passing % as high as 45-50%.
Further, there are exemptions at each level for example if you have cleared your CA Intermediate, you will be exempt from 6 papers. With just 7 papers to be written, a committed student can complete this program within 18 months’ time frame
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