Your Guide to a Successful Accounting Career in Nepal

The economy of Nepal is advancing by every passing day and it bestows some exciting opportunities to young individuals who wish to pursue a career in accounting and finance. If you’re in search of a globally recognized qualification that opens innumerable doors of opportunities for you, then choose ACCA. This accredited program can be your passport to success.

In Nepal, ACCA graduates are in high demand in many fields. Many established and established companies such as multinational corporations (MNCs) and accounting firms (publicly traded) value their knowledge and skills and can also succeed in dynamic areas such as finance and banking services, management and consulting.

The government of Nepal and, the public and private sectors are increasingly recognizing the benefits of the ACCA qualification as well. In this blog we are going to dive deeper into the world of ACCA and explore its inspiring career prospects in Nepal Furthermore, we will shed light on the benefits ACCA brings to the table and how you can best move towards your goals.

An Overview: What is ACCA?

ACCA stands for Association of Chartered Certified Accountants is a program offered by an international professional accounting body. This internationally recognized program trains you to tackle the complexities of fields like accounting, business, and finance. After earning this prestigious professional qualification you become eligible to work in different areas like audit, financial reporting, management accounting, and taxation.

Why Should You Pursue an ACCA Career in Nepal?

Choosing to obtain ACCA membership offers Nepali students unparalleled benefits compared to other career paths available after completing A-levels or +2. Luckily, ACCA memberships open doors to a truly global career for aspiring individuals while providing them extensive opportunities around the orb.

Not convinced? No problem. Here are some compelling reasons to consider ACCA as a career in Nepal:

• No matter where you live or plan to move, the ACCA qualification is respected across the globe. It opens doors to local and international opportunities too. Whether you wish to work in Nepal or planning to move abroad after completing your program, having an ACCA guarantees a successful career.
• Believe it or not, the Nepalese economy has just started to boom. It is projected to grow by 5.8% by the end of 2024. This signifies the increase in demand for ACCA accountants. Moreover, compared to other accounting qualifications, ACCA members in Nepal can earn salaries 20% to 30% higher.
• The curriculum of the ACCA program greatly differs from other accounting qualifications. It equips you with a well-rounded skill set including strategic thinking, leadership capabilities and business acumen. These skills are precisely what employers these days are looking for.
• The country has a strong support network established to assist and guide aspiring and existing ACCA members. The Approved Learning Providers (ALPs) are the institutions authorized by the ACCA board to deliver ACCA qualification.
• The ACCA Nepal Chapter is the official representative body that bridges the gap between ACCA and its members residing in the state. This chapter plays a significant role in supporting professional and personal development by offering mentorship programs, career resources, and Continuous Professional Development (CDP) opportunities.
• Students who aspire to become ACCA-qualified are granted 10 years to complete the program. During the tenure, students are allowed to work during breaks. They have the flexibility to appear in the exams when they think they are fully prepared to take one.
• Many organizations in Nepal offer jobs and internships to freshly graduated and current ACCA students. It facilitates them to practice theoretical knowledge in the real world. These internships are quite beneficial as they not only provide exposure but also help in building networks and establishing sound professional relationships with the individuals in this industry.

Exploring Job Opportunities in Nepal with ACCA

Completing the ACCA qualification opens doors to an extensive range of positions in different sectors. Here’s a list of some popular career paths for ACCA members residing in Nepal:

Apart from joining any company or business, another viable career option for ACCA-qualified individuals is to establish your auditing firm. It gives you the independence and opportunity to build a brand known for high-quality, reliable, and trustworthy financial services.

Useful Readings:

Cost of ACCA qualification

Starting your ACCA Journey in Nepal

The students who have acquired high school certifications are eligible to register for the program to start their journey. It signifies students who have passed +2 can opt for ACCA as a career option. The pathway to ACCA in Nepal is simple. Those individuals who wish to join this program have to study English and Math subjects apart from other high school subjects.

However, unlike other qualifications and programs, ACCA is a self-directed learning professional course. Students have to study on their own to pass each exam. Nepalese students who want to acquire this qualification can pay their registration and subscription fees through any Nepali bank or international credit card (MasterCard, Visa, or Union Pay).

Completing ACCA on your own is quite challenging, only a handful of individuals from billions have successfully achieved it. Avoid taking the risk and join any reputable and ACCA-approved learning centres for better guidance and knowledge. They hire qualified teaching faculty that guide you through the study material and question/answer pattern. They also conduct mock-up exams to help you thoroughly prepare for the final exam. Also, the management faculty will keep you updated regarding any changes in rules, patterns, fees, examination dates, etc.

All in all, joining any ACCA-approved institution will cost you more but it will facilitate you in many ways and will save you from any potential mishaps during the program.

Cost of Doing Acquiring ACCA Qualification in Nepal

Fortunately, the cost of ACCA in Nepal is affordable. It is equivalent to enrolling in any undergraduate 4 years program from any local university in Nepal. The estimated cost of studying Business Administration is approximately 5.5 to 6 lakh in Nepal rupees. However, this does not include the additional cost associated with the program. If you wish to enroll in any ACCA-approved institution for preparation then you have to pay an additional amount.

Recommended Readings: Cost of ACCA qualification

The Course Outline of ACCA

The ACCA qualification is structured into three levels: Foundation, Skills, and Professional. The Foundation level also referred to as the Applied Knowledge level teaches the fundamentals of accounting principles, management accounting, and financial accounting. These courses help students to build a solid base in basic accounting concepts and financial terminology. The Applied Skills level is built upon the Foundation level and it explores areas like management accounting, financial accounting, taxation, auditing, financial management and reporting, and the regulatory environment in detail.

If you complete the first two levels, then you start level three which is the Professional level. At this level, you explore more complex areas like audit and assurance, advanced financial management, and strategic business management. These advanced courses will facilitate you in developing leadership and strategic thinking skills.

Final Thoughts

Opting for ACCA as a career in countries like Nepal is a smart move. As the Nepalese economy is booming at a rapid pace, having an ACCA qualification is just like having a premium pass to exceptional positions in the accounting and finance sector. Becoming an ACCA is about learning money well. It teaches you how to count it, make plans with it, and help enterprises to manage it well.

Frequently Asked Questions

Q: How much does it cost in total to study ACCA in Nepal?

Ans: In Nepal, the cost of doing ACCA ranges between 500,000 to 600,000 Nepali Rupees. However, this isn’t the exact cost as it can vary depending on external factors.

Q: What is the average salary of ACCA-qualified professionals in Nepal?

Ans: Individuals who are ACCA-qualified can earn approximately 500,000 to 1,500,000 Nepali Rupees per year. However, this depends upon in which sector you’re working, what type of industry you’re working in and your years of experience.

Q: How can I find ACCA jobs in Nepal?

Ans: There are numerous ways to find a suitable job in Nepal as an ACCA professional:

• Hunt for jobs on online platforms like JobsNepal, MeroJob, and KumariJob.
• Visit the ACCA Nepal website for current job openings.
• Drop your resumes in different companies, banks, or accounting firms.