Are you considering pursuing your career in accounting? Or are you an accountant aspiring to boost your salary?
In Hong Kong, being an accountant is a highly attainable goal, even if you don’t yet know how to do it. Skilled accountants are in great demand and can lead to high pay salaries. But it’s crucial to realize that starting this professional path requires a lot of preparation, expertise, and time.
Any accounting job requires a bachelor’s degree; the degree can typically be in any discipline. By earning professional accounting qualifications in Hong Kong, you can pursue a career in accounting even if you do not have a higher degree.
Having professional credentials will boost your value as an accounting talent if you have a bachelor’s degree in business. These credentials are highly regarded since they demonstrate both your practical experience in the area and your in-depth knowledge of accounting concepts. In this article, we are listing the three most sought-after and highest-paying accounting qualifications in Hong Kong to help you get started:
ACCA
The Association of Chartered Certified Accountants (ACCA) is an international professional organization that offers accounting qualifications in Hong Kong and worldwide. Both recent college graduates and non-graduates can obtain certificates from the ACCA. This is for people who are interested in a career in accounting or finance. Businesses strongly value ACCA credentials, which can lead to a lucrative career in the accounting and financial sectors. The Professional Level and the Fundamental Skills comprise the two components of the ACCA Qualification. There are subcategories for Strategic Professional and Applied Skills at the Professional level. ACCA provides great flexibility and possibilities for specialization and is appropriate for individuals with different educational backgrounds.
ACCA Course Duration: It takes around three to four years to qualify for all 13 papers, an ethics module, and three years of relevant work experience. There may be up to nine exam exemptions that can reduce the ACCA course duration.
Suitable for: Future accountants looking for a variety of professional options and international mobility.
CIMA
The Chartered Institute of Management Accountants (CIMA), a professional organization with headquarters in the UK, offers management accounting certifications. CIMA’s training programs are available to anyone who wants to pursue a career in management accounting. It is not required to have a college degree. Businesses greatly value credentials obtained through the Chartered Institute of Management Accountants (CIMA). This could lead to a prosperous career in management accounting. Operational, management, and strategic are the three levels of the Certified International Management Accounting Qualification (CIMA).
CIMA Course Duration: It takes 3-4 years to complete the entire CIMA course.
Suitable for: People who prefer business positions over auditing or taxation.
ICAEW
The Institute of Chartered Accountants in England and Wales (ICAEW) is a professional association with headquarters in the United Kingdom that offers accounting certifications. ICAEW certifications are advantageous for accounting professionals with or without a college degree. Pursing ICAEW certification course can ensure a fulfilling career in accounting. The ICAEW Qualification is composed of two parts of the ACA. The professional training required to become an ICAEW Chartered Accountant is the ACA.
ICAEW Duration: It requires 15 exams, 450 days of hands-on training, and ethical education for continuous professional growth.
Suitable for: People who want to work in financial departments or accounting businesses as leaders.
Experts’ Advice on Accounting Qualification: Quick Tips
Consider the major elements that may affect your job path while choosing an accounting degree.
- First and foremost, consider your professional goals. Do you aim to pursue a leadership position or a specific area of expertise in the future? While ACCA covers a wider range of finance and accounting, certain courses, such as CIMA, concentrate more on management accounting.
- The degree of qualification you currently hold is another crucial consideration.
- If you’re just starting, you can think about starting with an ICAEW qualification, which provides a strong basis for additional education.
- Also, think about the time and money needed. The duration and cost of different qualifications vary. Consider the potential return on investment in terms of job growth, and be realistic about how much you can commit.
- Consider your professional background. Certain qualifications are supported by some employers because they are seen as advantageous for the position you currently hold or are pursuing.
Bottom Line
These are a few accounting qualifications for high-paid salaries in Hong Kong. Your educational experience, personal choices, and career aspirations will impact what is best for you. ACCA’s worldwide recognition and the ICAEW’s reputation for professionalism are just a few examples of the distinctive qualities and advantages of each credential.
Frequently Asked Questions
Why is it important to choose the right qualification?
Your professional path will be greatly impacted by the qualification you select, so it is crucial to thoroughly investigate and weigh all of your alternatives before making a decision.
What are the different accountant qualifications?
The ACA, ACCA, and CIMA are some of the essential accounting qualifications that open doors to the exciting field of accounting. They are all well-known worldwide. A professional accounting qualification generally takes three to five years to complete.
Which is better, CA, ACCA, or CPA?
With acceptance in over 180 nations, ACCA is the best and most recognized financial credential. While CA is primarily renowned in India, CPA is well-known in the United States and its subsidiaries.
