ACCA (Association of Certified Chartered Accountants) is a UK-based programme that is recognized all over the world. In over 180 countries, it has 21,900 members and 5,27,000  students. Exams are held quarterly and some exams can be held on demand.

ACCA is globally recognized as it offers a valuable opportunity to candidates from all over the world. Here are a few reasons why ACCA is globally known:

  • Useful in the finance industry.
  • Opening opportunities in banking, taxes, and governance departments of the country. 
  • Aid in understanding the country’s economic structure very well.

This article will reveal ACCA in Maldives, exams and career opportunities after clearing ACCA with success.

Growing Demand for Accountants in the Maldives

The Ministry of Maldives and the Institute of Chartered Accountancy emphasise the growing demands of accountants in the country but why? Here are a few factors why there is a growing demand for ACCA in Maldives

Tourism

Due to diverse marine life and splendid scenery, Maldives is super popular for its tourism. You can easily say that tourism is the backbone of Maldives’ economy. Hotels and travel businesses need expert finance individuals who can do financial planning wisely. So, there is an evergreen demand for growing accountants in Maldives. 

Emergence of Startups and Small Businesses in Maldives

In recent years, the spirit of small business has become popular in the Maldives. Exposing the entrepreneur’s side of the people living in this country. Business needs accountants to do well in their financial sector. ACCA in Maldives can manage business financial planning, and taxation and make money strategies that help businesses stay in competition.

Diversification of Economy 

Beyond tourism, the Maldives economy is expanding in terms of real estate, retail, and renewable energy resources. Each one of these sectors requires accountants to do financial planning and support sustainable business growth. 

Growth of Financial Audits and Consultancy

Companies need external audits for guided business plans, to understand the demands of investors, and to assess their financial health. Therefore, there is an increasing demand for audits both external and internal, hiking the need for people to qualify for ACCA in Maldives.

All these reasons make ACCA an attractive and necessary career for individuals who want to Explore more in the field of accounts and finance. 

Benefits of Seeking ACCA in Maldives

ACCA is globally recognized, here are the few benefits it offers combined with its global recognition.

Flexible Learning 

ACCA  offers a flexible learning environment for study, including offline, online, and self-learning in this fast-paced world. One can manage study easily with other tasks and commitments.

Online Exam Options

With remote-based exam options, students can easily take their exams in their country. The tiredness of travelling internationally for exams is diminished.

Multiple Exam Sessions

With multiple exam sessions throughout the year. Students in Maldives can easily choose when to take a specific exam according to their schedules. 

Local and Global Career Opportunities

ACCA is internationally recognized. Offering students career mobility. Locally increasing demand for financial analysts makes ACCA a good and beneficial career to pursue in the long run. ACCA in Maldives offers local and international career growth options. 

Great Earning Potential 

ACCA professionals can be hired by multinational companies offering them lucrative packages. Moreover, these companies open more opportunities as individuals get a chance to connect with a vast variety of networks and mentors that are already excelling in this field. ACCA in Maldives offers greater and bigger chances within the country.

Institutes offering ACCA courses in the Maldives 

Institutes in Maldives offer both virtual and physical courses for ACCA in Maldives. Here is the list of 10 institutes.

  • Mirchawala’s Hub of Accountancy
  • Villa College
  • Universal College of Higher Education (UCHE)
  • Knowledge Link Institute
  • Mandhu College
  • Maldives National University (MNU)
  • International College of Business and Technology (ICBT)
  • Island Institute of Accounting
  • Universal College of Higher Education (UCHE)

How to Get Registered for ACCA Exams

To take ACCA exams you have to be first registered in their system.

Registration Process

Register through the official ACCA portal i.e. (ACCA Global). After logging into your MyACCA account you can select the subject, time, and format(Online, physical) exam. 

Keep Deadlines in Check

The ACCA exam is held four times in the whole year. Keep deadlines in mind and register according to these times.

Challenges and Success in ACCA

For doing anything, big challenges might come your way. Keep crushing those challenges to find a way to success.

Challenges

ACCA in Maldives offers less access to resources as compared to other larger countries. But, with the online information available about ACCA one can decently excel in this field.

Sometimes individuals find it challenging to balance their professional studies with work-life balance. Schedules align with their daily routine to help in finding a balance between studies and work.

Success

Time management helps in the success of ACCA. Here to effectively manage time.

Effective Time Management

Manage time wisely to help in success in any exam and field. Give a major chunk of your time to study and explore things while doing ACCA.

Join Communities and Groups

Join communities and groups where ACCA in Maldives students are present. Learn from them and share ideas and thoughts with them in order to excel in ACCA.

Utilising Online Resources

Use online resources that give guidance on ACCA journeys. Many platforms like ACCA Study Hub offer deep insights into the different fields. Keep tracking your journey and keep moving forward.

Career Path After ACCA

Although after passing ACCA you can work on an international and national level. Here are a few careers you can follow as ACCA in the Maldives.

Banking Sector

The banking sector in Maldives is a nice place for ACCA graduates. As, banking needs professionals for financial management, corporate assessments, and investment and reporting. All these areas require professional financial managers. 

Government Sector

The government sector demands professionals for budgeting, taxing, auditing, and financial reporting. In order to keep transparency in public financial projects, opportunities are available in various departments like finance and planning.

Starting Own Accounting Firm 

ACCA certification offers the knowledge and trust to start your accounting firm. Accounting professionals can gain knowledge in tax consulting, financial management, and bookkeeping. This option is highly cash-making in Maldives as businesses seek outsourced financial professionals. 

Summing Up

ACCA is becoming a highly-paying profession in a world where financial management needs to grow more and more. ACCA in Maldives is also worth pursuing, offering long-term growth in this career. Starting preparation and exploring opportunities are ways to grow in your ACCA career. Moreover, opportunities in the government banking and entrepreneurship sector help individuals explore their creative side as well.