INTRODUCTION:
The accounting and finance sectors have advanced over time; these sectors no longer rely on manual data collection or data entry. Rather, modernized technical tools, software, and platforms are used for such tasks; to be fair, like other sectors, technology and digitalization have also impacted the finance department. To survive in the digitally equipped accounting sectors, professionals need to be well-trained to use these tools efficiently; hence, ACCA in Mauritius emphasizes that ACCA students in Mauritius not only gain knowledge about these tools but also have hands-on practice.
The qualification of ACCA is well-known for producing finance professionals who are well-trained in accordance with industry trends. This adaptability of the qualification and its professionals is what usually inspires and attracts students as well as employers. Therefore, being ACCA students, you should train yourself well with accounting tools like QuickBooks, Power BI, ERP, etc. Don’t know enough about them? No worries, we have got you covered. Read this blog to get in-depth insights about these accounting tools and know how they benefit finance professionals.
THE BEST ACCOUNTING TOOLS FOR STUDENTS OF ACCA IN MAURITIUS:
The key accounting tools for Mauritian ACCA students are Power BI, ERP, and QuickBooks; these tools are known globally, and having expertise in these tools can enhance your professional worth in the job market by making your resume stand out. However, steadily these tools are gaining popularity in the finance industry, which means professionals who have hands-on experience or skills to operate them efficiently are preferred by employers. Students of advanced accounting qualifications, just like ACCA, are encouraged to learn these digital accounting tools; the information regarding each tool can benefit such students, who want to learn but lack any background about the tools.
1: POWER BI:
Power BI is a Business Intelligence (BI) tool introduced by Microsoft; it is a very effective accounting tool that allows finance professionals to import, visualize, and model the data from multiple sources, including databases, Excel, accounting software, etc. Through Power BI, professionals can create interactive dashboards and reports; this accounting tool is considered to be value-adding, especially for students, for numerous reasons, such as it helps them in developing data analytics skills, automation, real-time financial insights, audit/compliance, forecasting, and budgeting.
All these benefits are huge for students of such a competitive qualification like ACCA. Once these skills or expertise with these tools are developed, students can use these tools all across the world as they are being adopted internationally.
2: ERP SYSTEMS:
ERP stands for ‘Enterprise Resource Planning’; this software is more than just an accounting tool, it is more of a centralized system to manage a business more efficiently. What ERP systems can be called a centralized system? Well, because it also has modules like sales, purchasing, inventory, CRM, HR, MM etc. ACCA students in Mauritius are encouraged to learn the ERP systems for a couple of reasons, such as it can give students a detailed business understanding, real-life experience, enhance their professional profile, ensure the growth of the scalability of a business, and be helpful with complex reporting and consolidation. ERP has lots of domains to start with choose the one fits your career.
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3: QUICKBOOKS:
QuickBooks is a cloud-based accounting tool amongst the most popular and widely used accounting software all across the globe, especially in SMEs. The tool has all the important features for reconciliation, reporting, invoicing, and expenses, etc QuickBooks has proved to be quite value-adding for students of ACCA, be it academically or professionally. This software gives practical accounting exposure that aspirants of finance highly value. The tool also has a growing local demand, which gives students one more reason to become an expert in it.
Apart from all this, the tool also has scalability and can be easily integrated with other software or tools; in Mauritius, the training to use QuickBooks efficiently is easily available, as it is quite popular. Many local training providers offer guidance to finance and accounting aspirants and help them become experts in QuickBooks.
WHY DO THESE ACCOUNTING TOOLS MATTER IN MAURITIUS SPECIFICALLY?
In Mauritius, these accounting tools are especially valued and in demand; this encourages ACCA students in the region to have a good command of these tools so that they can enhance their professional profile by adding this expertise to their skillset. Some of the reasons to adopt these accounting tools in Mauritius specifically are the easy availability of training providers, adopted by local businesses, industry has a growing demand for analytics, and these skills becomes compulsory for some jobs etc. All these reasons are enough to encourage finance students and professionals to learn the use of these accounting tools in Mauritius like quickbooks, power BI, ERP, SAP, Cloud computing etc and stand out amongst other candidates.
CONCLUSION:
Digitalization, or the adoption of accounting tools, software, and online platforms, has become the new norm for the modern financial world. Companies and employers across the world nowadays value finance professionals with expertise in accounting tools like Power BI, ERP systems, and QuickBooks. In such a scenario, ACCA in Mauritius and globally encourages its students to learn and gain hands-on experience with these tools so that they can practice on them academically and outshine other candidates professionally.
Finance and accounting students should indeed learn and practice with these tools to keep themselves future-ready for this digitalized modern financial world and enhance their professional worth with a very strong skillset.
FREQUENTLY ASKED QUESTIONS:
Q1: Which industries in Mauritius commonly use the QuickBooks tool?
Answer: The industries that commonly use QuickBooks tools and seek professionals with expertise in it are SMEs, service companies, retail shops, and tourism businesses, etc.
Q2: Are employers’ demands for these tools encouraging finance and accounting professionals in the region to learn them?
Answer: Yes, finance professionals’ expertise in these accounting tools is what employers increasingly seek; familiarity and good practice with these tools can earn finance professionals a competitive edge in the Mauritian job market.
