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  • Why Should You Consider a Career in Accounting?

    Why Should You Consider a Career in Accounting?





    In business world a career in accounting is one of the most stable, rewarding and lucarative profession. Whether, if someone is interested in money management, financial planning or corporate environment, accounting offers different opportunities for professional growth. In Accountancy Ireland, accountants play a very important role in managing financial records, ensuring compliance and driving business success. If you’re looking for a career with long-term prospects, excellent earning potential and multiple career paths, then accounting must be the right fit for you. 

    Why you should consider Career in Accounting 

    Accounting is a different field with different benefits that attracts professionals from all backgrounds. Here are some of the top reasons to choose an accounting career.

    Job stability and Demand

    Accounting is an important function in any business. It means skilled accountants are always in demand. If students are looking for accountants jobs in Ireland or more opportunities abroad. So, accountants remain in demand. 

    Competitive Salary 

    Accounting  career Ireland and jobs offers attractive compensation packages for its employees. According to industry reports, the accountant’s salary in Ireland is competitive.  Moreover, pay is not only competitive but opportunities for professional gains and certifications are also there. 

    Career progressions opportunities 

    With the right qualifications and experience, accountants can quickly advance in their career. Accounting career progression can lead to senior roles such as financial controller, CFO or more higher positions. 

    Modifications in Learning 

    Accounting does not stick to the traditional classroom learning. There are different online mediums that offer accounting learning and make it convenient for the students. Moreover, hybrid modes of learning and mentor guidance make learning easy and flexible for the students. 

    Business opportunties 

    Accounting careers not only offer jobs but it opens the way for business as well. Many subjects in accounting set the basics for business. After completing accounting certifications one can confidently step into their business journey. 

    Industry Versatility

    Accountants can step into every industry, as it is a vast profession. From healthcare to technology there is a need for an accountant in every other field. It offers different sectors of interest for students to work on. In this way students can explore their profession along with their passion as well.

    Specialised opportunities 

    Accounting career Ireland  can get jobs in specialised fields of accounting. Professionals can specialise in areas such as forensic accounting, consulting, auditing and financial planning. 

    Global chances of working 

    ACCA is a globally accepted degree and its completion brings global opportunities as well. Students not only work in their region but also get a chance to get exposed to an international environment.  Moreover, international jobs give a high level of experience and learning.

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    How to become  certified accountant

    Becoming a certified accountant involves different steps and below is written the important ones. 

    1. Get the right education.

    Accounting careers Ireland require a suitable degree in accounting, finance, or business. Universities in Ireland provide a variety of programs to help students enter the field.

    2. Obtain professional certifications.

    Certifications such as Chartered Accountant (CA), Certified Public Accountant (CPA), and Chartered Certified Accountant (ACCA) hold considerable value in the industry. These certificates assist people in obtaining higher-level positions as account executives.

    3. Gain practical experience.

    Internships and entry-level positions provide practical experience. Many firms, including eFlow Account, provide training programs for prospective accountants.

    4.Develop technical and soft skills.

    Aside from technical knowledge, accountants must have good analytical, communication, and problem-solving abilities. Familiarity with programs such as Sage Accounting can also help.

    Conclusion 

    Those seeking career advancement, financial security, and a variety of employment options would be well advised to pursue a career in accounting. With a solid background in financial planning and money management, accountants are essential to the success of businesses. There are countless opportunities in the accounting industry, whether you want to work for a big company, a government organization, or launch your own practice.

    Frequently asked questions

    Is an accounting career challenging?

    Accounting, like every other career, has hurdles. However, with the proper education, training, and perspective, it is a successful and fulfilling career path.

    Can accountants run their own businesses?

    Yes, many accountants prefer to operate independently, providing tax consulting, auditing, and financial advisory services. Accounting software and digital tools make running an accounting business easier than ever.

    Do accounting occupations provide opportunities for long-term growth?

    Yes, accounting offers solid and long-term professional opportunities. Professionals can move to senior positions and eventually become executive leaders.

    How can you develop a successful accounting career?

    To succeed, prioritize getting the necessary education, earning certifications, gaining practical experience, and staying current with industry developments and tools such as Sage Accounting.

  • ACCA vs AAT: Which Accounting Qualification Should You Choose?

    ACCA vs AAT: Which Accounting Qualification Should You Choose?




    Selecting the right qualification in accounting  is important for success. Two mainly recognized qualifications in this field are ACCA (Association of Standard Chartered Accountants) and AAT( Association of Accounting Technicians). Both offer distinct advantages and can lead to rewarding career paths. However, deciding between them depends on factors such as career goals, educational background and long-term aspirations for ACCA qualification.In this article we will explore the difference  between AAT and ACCA, their benefits and which education is the right fit for them.

    What is an AAT Accounting Qualification?

    AAT stands for Association of Accounting Technicians and it is an internationally recognized qualification. It is pursued by individuals who want to build a foundation in accounting and finance. AAT helps candidates with the right skills needed for entry level accounting roles. 

    There are three different levels of AAT qualification 

    • Level 2 (Foundation Certificate in Accounting)
    • Level 3 (Advanced Diploma in Accounting) 
    • Level 4 (Professional Diploma in Accounting)

    After completing level 4 Candidates can apply for MAAT qualification(Member of Association of Accounting Technicians) that enhances their professional credibility. 

    What is ACCA?

    ACCA( Association of Chartered Certified Accountants) is an internationally accepted qualification as well. ACCA offers in-depth knowledge in accounting, finance and business management. Unlike AAT, ACCA gives more advanced and up-to-date knowledge. And is highly recommended for individuals looking to qualify as Chartered accountants. 

    There are three main level of ACCA qualification 

    • Applied knowledge 
    • Applied skill 
    • Strategic professional level.

    ACCA is acknowledged worldwide and is suitable for individuals aspiring to make careers in finance and accounting fields. Moreover, roles like financial planning, auditing, tax advisory services are also included in it as well.

    Benefits of ACCA and AAT Qualification

    Here are the benefits of ACCA and AAT qualification that students can get after completing their education.

    ACCA acknowledged globally 

    ACCA is accepted in over 180 countries. It will make it an excellent choice for those considering an international career.

    Extended career options 

    After ACCA students can get exposed to different career options.

    Higher earning potential 

    Chartered accountants often earn higher salaries as compared to the non-qualified accountants.

    Flexibility in Learning 

    ACCA offers part-time, online and hybrid learning modules. These options are suited to different learning preferences by students.

    Benefits of AAT Qualification

    Here are few benefits of AAT Qualification 

    Quick Entry into the Job Market 

    AAT can be completed faster than ACCA, allowing candidates to start working in accounting roles sooner.

    Lower Cost 

    AAT qualifications are more affordable compared to ACCA, making them accessible to more students.

    Practical Accounting Skills  

    Focuses on real-world accounting applications, such as bookkeeping and tax preparation.

    Pathway to ACCA 

    AAT-qualified individuals receive exemptions from certain ACCA exams, making it a great stepping stone.

    Recognized by Employers 

    AAT-qualified accountants are highly valued in entry and mid-level accounting positions.

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    How to study for ACCA and AAT

    Different mediums can be used to study ACCA and AAT 

    • Online courses are offered by many institutions for students. These are often very convenient and comfortable options for the students.
    • Some universities integrate ACCA and AAT into their accounting and finance degree courses.
    • Self study is also one of the best options to prepare for exams. Students can buy study material and books and start preparing on their own.
    • ACCA apprenticeships allow students to gain practical experience while studying. 
    • Many trainers and mentors give in person classes to students. This can help them in carrying out their preparations. 

    Which Qualifications Students Should Choose?

    Students can choose from both education according to their preferences and budget below are supporting points for two qualifications

    ACCA qualification AAT qualification 
    You want to become a Chartered Accountant.  You are new to accounting and want to build a strong foundation in it. 
    If you are committed to longer studies and hard work for years. You are looking for a cost effective route into accounting. 
    You want a globally recognized qualification with extensive career opportunities.  You prefer a qualification that allows you to enter the workforce quickly. 

    Conclusion 

    Both ACCA and AAT are excellent qualifications for aspiring accountants, but the ideal decision is based on personal career goals. AAT is an excellent starting point for people looking for practical accounting skills and entry-level work, whereas ACCA is better suited to those aiming to gain chartered status and develop experience in Financial education In Ireland. Regardless of the path taken, both courses provide significant financial knowledge in Ireland and elsewhere.

    Frequently asked questions

    Can AAT-qualified accountants get AAT exemptions  ACCA?

    Yes, AAT-qualified individuals may receive exemptions from certain ACCA exams.

    Is ACCA difficult to pass?

    ACCA exams are tough exams and need hard work with dedication, with proper preparation and right guidance students can achieve success.

    What is the level 4 AAT equivalent?

    AAT Level 4 is equivalent to the first year of a university degree. 

    Are ACCA and AAT qualifications recognized in ireland? 

    Yes, both ACCA and AAT qualifications are highly acceptable and recognized in the ireland accounting and finance sectors.

    What are the job prospects for ACCA and AAT graduates?

    ACCA-qualified professionals can work in roles like financial analyst and auditors. While AAT graduates can often be started as accounting technicians or bookeepers. 

    ACCA vs AAT? Which is harder?

    ACCA is usually considered harder as it has prolonged duration. Moreover, ACCA subjects are more in depth and advanced. 

    What does AAT stand for?

    AAT stands for the Association of Accounting Technicians.

  • Best Institutes for ACCA Course in Abu Dhabi

    Best Institutes for ACCA Course in Abu Dhabi

    Best Institutes for ACCA Course in Abu Dhabi || Accomplish Your Career Goals 

    Abu Dhabi, the capital of the United Arab Emirates, is emerging as a new global financial and accounting center, presenting unprecedented opportunities for industry professionals. This dynamic evolution in Abu Dhabi, marked by remarkable growth, is attracting qualified finance and accounting professionals to explore the variety of opportunities it offers. 

    If you are a finance and accounting aspirant and looking for the bright career path you can find a fulfilling finance career in Abu Dhabi with an ACCA course. You just need to find the perfect learning institute for your ACCA course in Abu Dhabi. Well, we have done that for you already. Here is the list of the best ACCA coaching providers with quick details on what makes them stand out. 

    So, stay tuned and keep scrolling! 

    • Mirchawala’s Hub of Accountancy  

    Mirchawala’s Hub of Accountancy is one of the leading ACCA institutes in Abu Dhabi. It is renowned for offering a wide range of courses for students who want to work in the accounting and finance industries. The team of expert ACCA tutors at the institute is committed to helping each student reach their full potential, assist them in achieving their professional objectives, and prepare them for success in the field.

    The ACCA curriculum at Mirchawala is made to meet the demanding standards of the certification, and our training sessions are made to make sure that students get the help they require to be successful.

    The online ACCA course in the UAE is crafted to accommodate both full-time students and working professionals as per the varying schedules and obligations.

    • Success Point College

    When it comes to the best coaching for the ACCA course in Abu Dhabi, there is a long list. Success Point College has created its unique position to begin with, the top-notch facilities and thorough student counseling are unmatched. In addition, many of the students have secured nationwide and worldwide positions, enhancing the institute’s standing as the top and most reliable ACCA learning provider.

    To make sure that the students are prepared and supported during their learning journey, Success Point College has excellent facilities and tutors. Additionally, the library is large and well-stocked, offering learners a multitude of study aids. 

    The outstanding facilities and services at Success Point College are a reflection of its dedication to providing students with the greatest education and support possible.

    • Al Mihad

    Al Mihad has been offering a wide range of career-oriented courses, including ACCA courses, in Abu Dhabi for more than 25 years. Its knowledgeable teachers have both professional credentials and firsthand industry experience.

    The purpose of the ACCA courses offered by the institutes is to provide specialized training in accounting principles and values. Soon, after the course, aspirants can explore varied job opportunities. Employability will further increase as they acquire the accounting knowledge and abilities required for professional practice in a variety of industries and businesses.

    At Al Mihad, the best ACCA teachers with professional experience guide learners through the course. Each module of ACCA will consist of 55 hours of classroom teaching with independent study time. Additionally, you will be able to utilize the many amenities and services offered by Al Mihad, such as our vast library.

    if you have just started your journey and want to get some basic ideas about the beginning of the journey with an ACCA course, check out this blog ACCA career in the UAE.

    • Delphi Star Training Center

    The Delphi Star Training Center is well-known for offering the top-notch ACCA course in Abu Dhabi. It offers online course materials, assignments, cases, a round-the-clock online ACCA course forum, and online access to various Excel models and presentations. 

    The key driving factor that makes it is among Abu Dhabi’s top institutes for an online ACCA course. The top instructors and certified CA, ACCA, and CPA (USA) specialists help students become career-ready In addition to years of teaching and training experience, they have over 15 years of industry experience. Delphi is regarded as one of the best ACCA institutes in Abu Dhabi as a result.

    • Times Education Study Centre

    Offering the best courses in accounting and financial management, including the ACCA in Abu Dhabi, Times Education Study Center. Students of all skill levels receive excellent support from the study center’s staff. With Times Education’s UAE training methodologies, team support, and the right supervision, learning ACCA in Abu Dhabi via distance learning will be an amazing experience.

    The training begins with learning the basics of accounting for a variety of uses, learning about the principles of business law, performance management, and taxes, providing practical experience in financial reporting, auditing, and taxation, and finally enabling aspirations to discover how to improve business performance and create business plans in the same field. 

    Before we move further and learn more about ACCA learning providers in Abu Dhabi, check the benefits of ACCA courses in the UAE to make smart moves in your career. 

    • Skyline University College in Sharjah

     Skyline University College is a reputed ACCA institute. Students from across the UAE come here to pursue ACCA courses in Abu Dhabi. It offers comprehensive syllabus coverage and a highly skilled and experienced teaching team. Further, the institute has created its distinctive edge among other training providers with its revision sessions, mock exams, internships, and job placement, Skyline University College in Sharjah is undoubtedly a top choice for applicants looking for the best accounting courses in the UAE. Additionally, Skyline University College offers mentoring programs for BSc and MSc students to help motivated students advance toward the highly sought-after ACCA degree.

    • British Columbia International Academy

    The British Columbia International Academy adheres to the ACCA principle that knowledge and skills are interdependent. Offering a varied range of financial and accounting courses, the institution aims to improve students’ financial accounting performance and foster their analytical abilities to provide holistic growth that leads to overall achievement. As one of the best providers of ACCA courses in Abu Dhabi, the ultimate objective is to help people realize their full potential and make a thriving career with the best ACCA jobs in the UAE.

    • PwC’s Academy

    PwC’s Academy is one of the ACCA’s renowned Platinum Approved Learning Partners.  For students interested in internships, they offer several options for on-the-job learning and an experienced staff that provides the required training. If you fulfill these enrollment requirements, you can apply to the academy’s ACCA program in Abu Dhabi.

    Students who have passed the school-leaving exams and are enrolled in the IB, American, CBSE, and ICSE curricula are also eligible for two A-Levels and three GCSEs. The institute is regarded as one of the top institutions for ACCA courses in Abu Dhabi, with a skilled team of professionals and an abundance of study and training materials to help aspirants.

    • King’s Business School 

    Enrolling at King’s Business School means you are enrolling for the best ACCA course in Abu Dhabi. The team ensures to fulfill the international requirements for excellent sessions. Additionally, they monitor student content and satisfaction with academic discipline knowledge. Both working-class executives’ and students’ primary needs are met by the program. The 100+ hours of ACCA training, comprehensive module and exam kit, comprehensive summary notes, revision lectures, practice on the CBE platform, ACCA mock exam, readily available study groups, ongoing academic support, and direct assistance from teachers for internship and placement following course completion are some of the main reasons to enroll in the ACCA course at KBS.

    •  Morgan International Training Institute

    The last name on the list, Morgan International Training Institute in Abu Dhabi, is another great option for aspiring accountants and financial specialists. They can learn the foundations of ACCA and also get a hands-on approach through the training. Fundamentals and Skills courses are available at the Morgan ACCA course in Abu Dhabi. Additionally, students will have access to valuable resources that will support the development and enhancement of their professional abilities.  Selecting to study ACCA at Morgan International will provide you with access to a nurturing educational setting. Our specialized training sessions and knowledgeable staff are intended to support your success. Our professors are subject-matter specialists. Additionally, they are committed to giving every student individualized attention and support. 

    Last Verdicts

    These are the best institutes where you can pursue the ACCA Course in Abu Dhabi. 

    In recent years, ACCA as a career option has gained great popularity. We can say that the program is on its way to changing the way that accounting and finance are seen globally. In the future, candidates will rank ACCA courses next to other reputable accounting programs. The time has come for you to enter a rapidly expanding field. Check through the list carefully, enroll at the ACCA institute sign up for the ACCA course that you are most interested in. 

    If you wish to know, feel free to contact us; we will be happy to help you. 

    All the best!

    Frequently Asked Questions (FAQs)

    Q: Can I study ACCA in Abu Dhabi?

    Ans: Yes, you can study ACCA in Abu Dhabi. Our online ACCA course offered the learning and experiences for a new world of financial career paths in leading industries.

    Q: What are the entry requirements for the ACCA in Abu Dhabi?

    Ans: The eligibility criteria for ACCA Qualification are two A-Levels and three GCSEs (or their equivalent). These should be in five separate subjects, including English and math.

    Q: What are the ACCA course fees in Abu Dhabi?

    Ans: The overall ACCA course fees in Abu Dhabi can range from AED 30,000 to AED 35,000.

    Q: What is the salary of ACCA in Abu Dhabi?

    Ans: The fresher ACCA salary in Abu Dhabi ranges from AED 120,000 to AED 150,000 annually. The mid-level experienced professional can earn between AED 180,000 and AED 240,000.

    Q: Which is the best ACCA institute in Abu Dhabi?

    Ans: Mirchawala’s Hub of Accountancy stands as the best ACCA learning provider with an expert teaching team, hands-on learning approach, mock exams, and guidance.

  • Why Completing the ACCA in Ireland More Challenging Than You Might Think

    Why Completing the ACCA in Ireland More Challenging Than You Might Think




    The Association of Chartered Certified Accountants (ACCA) is an internationally recognized qualification. It’s the best opportunity for those who excel in business accounting  in Ireland. However, many students underestimate the challenges involved in completing the ACCA course. 

    From complex Irish tax laws to demanding exams, new accountants must handle different hurdles to earn their ACCA qualification. This article will highlight why completing the ACCA in Ireland

    nd is more challenging than it seems. Five major obstacles and offering solutions to help candidates succeed. 

    Challenges of Completing ACCA in Ireland

    While the ACCA is tough worldwide, students in Ireland face additional difficulties that make their journey even tougher. Below are the five key challenges 

    • Complexity of Irish Tax Laws

    One of the main challenges that students can face while pursuing ACCA qualification in Ireland is the complexity of Irish Tax laws. Candidates must go thoroughly to understand the topics such as inheritance tax Irealnd, VAT rate Ireland, and Irish Payroll systems. Unlike other countries where tax laws are more standardised, Ireland has a unique tax structure that needs deep comprehension. 

    • ACCA is Tough Exams

    The ACCA exams fall in the most difficult exam categories and are popular for their high level of difficulty. Manystudenst find it difficult to balance their studies, work and personal life. This can make exam preparation even more difficult. 

    • Adapting to new Accounting technique in Ireland 

    Accounting in Ireland is dependent on digital tools. Accountants in Ireland must be efficient in cloud accounting and tools. Many students are not familiar with softwares like Quickbooks, Xero or Sage which are very widely used in the industry. 

    • Demanding Work-life Balance for ACCA students 

    Keeping balance between both work and studies isa major hurdle for ACCA students. Many candidates do not cope up with full time working, during their preparation for ACCA. In this way preparation becomes more difficult and exhausting for them.  

    • High Cost of ACCA Registration and Course Fees

    ACCA enrollment and tuition costs can be costly, especially for students who pay their own studies. The expense of study materials, test fees, and tuition at professional colleges can add up, making financial management difficult.

    • Language barrier 

    ACCA complete course in English language. Most students in Ireland do not have familiarity with English. So, students find it challenging to start with their preparation for ACCA in another lanague.

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    How to Overcome these Challenges 

    Here are different ways students can overcome these challenges. 

    • For overcoming the challenges related to Irish tax and laws students must in depth the Irish tax law. For this purpose they can also take help from mentors and teachers.
    • For dealing with the time commitment during ACCA students have to develop a study schedule that helps them with their studies. 
    • Students while preparing for ACCA must see scholarship options to overcome the financial burden. 
    • Students can beat the language barriers by learning English through courses and develop some familiarity with the language. 

    What Does an Accountant Do?

    Once an individual has completed their ACCA qualification, they can work in a variety of accounting sectors throughout Ireland. Accountants play an important role in financial planning, auditing, and report preparation in Ireland. Some of the primary responsibilities are

    • Prepare financial statements and reports.
    • Managing business transactions and tax compliance.
    • Giving financial guidance to businesses and people.
    • Overseeing payroll and Irish VAT rate compliance.
    • Implementing Irish Accounting Standards within Firms
    • Using accounting software like Xero Ireland and Sage Accounting Ireland for financial management.

    Conclusion 

    Obtaining an ACCA certificate in Ireland is obviously difficult due to complex tax rules, hard exams, costly fees, and the necessity to adapt to digital accounting systems. Students, with the right tactics, perseverance, and access to appropriate resources, can successfully manage these challenges. The effort is well worth it, as ACCA graduates have good employment opportunities in business accounting Ireland.

    Frequently asked questions 

    Why is ACCA difficult?

    ACCA is difficult because of its extensive exams, complicated Irish tax law, and the requirement to know diverse accounting software. Additionally, students frequently struggle to balance their schoolwork, work, and personal lives.

    Is ACCA worthwhile after so many challenges?

    Yes, despite the hurdles, obtaining an ACCA qualification is really rewarding. It creates job opportunities in Ireland’s leading accounting companies and enables professionals to provide skilled financial advice in Northern Ireland and elsewhere.

    What are job prospects after completing ACCA in Ireland? 

    ACCA qualified accountants have excellent career opportunities. They can work in top accounting firms, multinational corporations, financial institutions and can start their women business. 

    Can I study for ACCA while working full-time in Ireland?

    Yes, many students study ACCA while working full-time. However, balancing work and studies can be challenging, requiring strong time management and commitment to succeed.

  • Are all ACCA exams difficult?

    Are all ACCA exams difficult?

    BACKGROUND:

    The ACCA qualification is one of the most prestigious and globally acknowledged qualifications in accounting; it opens a gateway to a promising career in the accounting and finance sector. However, the qualification has numerous career benefits but students are still anxious while choosing ACCA because of its competitive nature, complex syllabus, and difficulty level of ACCA exams.

    This qualification consists of a series of 13 exams; these exams are divided into three categories, namely applied knowledge level, applied skills level, and strategic professional level. Amongst all these levels, the most complex and advanced level of ACCA qualification is the Strategic Professional level. Several factors could contribute to the complexity of ACCA exams, including study patterns, prior knowledge, concentration, learning techniques, etc. To know more about the difficult ACCA exams and effective solutions to them, read the blog ahead.

    STRUCTURE OF ACCA EXAMS:

    Applied Knowledge level:

    This is the introductory level of ACCA qualification; this level builds the foundational knowledge regarding accounting and financial principles and business practices in students. The applied knowledge level consists of three exams (Business and Technology, Financial Accounting, and Management Accounting).

    Applied Skills level:

    This level is a step ahead of the previous level; it ensures the application of the theory learned in the previous level in real-life scenarios. This practice gives students a deeper knowledge about implementing theory in practical life, equipping them with skills to accelerate their professional journey. This level consists of six exams, namely, corporate and business law, performance management, financial management, audit and assurance, financial reporting, and taxation.

    Strategic Professional level:

    This level is the most advanced level of ACCA qualification, hence considered the most challenging level, requiring critical thinking and decision-making skills. There are four exams included in this level, two of which are optional.

    FACTORS INFLUENCING THE PERCEIVED DIFFICULTY OF ACCA EXAMS:

    There are various factors influencing the difficulty level of ACCA exams, some of which are discussed below:

    Subject Matter:

    The difficulty of ACCA exams largely depends on the complexity of the subject; some subjects are easier than others and vice versa. For example, financial reporting, taxation, audit, and assurance are the subjects considered difficult because of their depth of knowledge and incorporation of practical skills. While management accounting and business technology are considered a bit easier and more approachable.

    Prior knowledge and experience:

    Another huge factor that plays a prominent role in influencing the difficulty of ACCA exams is the candidate’s prior knowledge. If a candidate has an educational background or work experience in the accounting or finance sector they might not struggle with some of the subjects of ACCA. Having a good fundamental understanding of accounting can help them deal with the complexity of ACCA exams. Whereas, students who do not have any prior knowledge or experience in the relative field might face issues and complexity.

    Time commitment and study strategy:

    Students usually overlook ACCA exams, which contributes to their exam failures. To succeed in difficult exams, ACCA students need to stay consistent, devote a good amount of time to their studies, and follow a structured study plan. Brushing off exam preparation can result in last-minute chaos, poor preparation, and eventually failure. Hence, students are advised to do active revision, contribute more time to the subjects they find difficult, utilize reliable study resources, stay consistent with their studies, and not give up.

    Personal Strengths and Interests:

    The difficulty level of ACCA exams may differ from person to person depending on an individual’s interest and strength in the specific area. If a student is interested in a specific area of study, they tend to find it easier and more interesting despite the complexity of the syllabus. For example, if a student is attracted to the areas of taxation and auditing, they might find them easier as compared to the other exams. Hence, no one can determine if a subject is difficult, as some might find that subject easier depending on their interest level.

    COMMONLY CHALLENGING ACCA EXAMS:

    However, the difficulty of the subject may differ from student to student, but it is observed that some subjects are commonly challenging for many students and require extra hard work as well as dedication. These subjects include financial reporting, taxation, audit and assurance, strategic business leadership, etc. Mirchawala's Hub of Accountancy CALL TO ACTION

    HOW TO OVERCOME THE DIFFICULTY OF ACCA EXAMS:

    Create a structured study plan allocating time to every subject depending on the complexity of the course, your strengths, and weaknesses, etc.

    Stay consistent with your studies, practice daily to gain confidence, and be fluent in the area of study. Solve past papers, take mock exams, etc., daily.

    Rather than memorizing the answers, try to understand the key concepts. This is essential for ACCA qualification, as this qualification also focuses on practical skills and real-life scenarios as well in Zimbabwe and globally.

    If you feel like you are struggling in a subject, do not hesitate to ask for help from professionals; don’t panic or take stress, as it will lead to nothing but less productivity.

    CONCLUSION:

    ACCA exams are considered competitive and complex amongst other accounting qualifications, but with the right strategy, consistency, determination, and motive, one can easily ace the exams of ACCA. No one can determine a subject’s difficulty, as it can vary from student to student. While some students might find financial reporting a difficult course, others might contradict this statement; the level of difficulty of ACCA exams depends on an individual’s interest and hard work in the area of study. Nevertheless, a structured study plan, the practice of past papers, and consistency can make every complex course an easy one.

    FREQUENTLY ASKED QUESTIONS:

    Q1: Are all ACCA exams equally difficult?

    Answer: No, The difficulty level of each exam may vary amongst students depending on their interest and hard work. However, some courses are commonly found difficult or complex amongst ACCA aspirants. Typically, these courses are from the Strategic Professional level of the qualification.

    Q2: Which ACCA exams are considered the most difficult?

    Answer: ACCA exams, which demand a strong understanding and implementation of theory into practical scenarios, are considered difficult, such as financial reporting, taxation, audit and assurance, strategic business leadership, etc.

  • Fast-Growing Fintech Trends and Their Impact on Finance: What ACCA Professionals Need to Know

    Fast-Growing Fintech Trends and Their Impact on Finance: What ACCA Professionals Need to Know

    AN OVERVIEW:

    Nowadays, the finance and accounting sectors no longer follow the old traditional methods; rather, they have evolved into an industry with modern techniques, technologies, and strategies. In this ever-evolving industry of finance, ACCA professionals need to keep up with the trends and updated skills to maintain their competence in this industry. Likewise, these professionals are expected to have rigorous insights about Fintech trends to face new challenges and avail a bundle of new opportunities. Ahead are some growing trends in fintech and their impacts on finance professionals.

    BLOCKCHAIN AND CRYPTOCURRENCIES:

    Blockchain technologies help to record, maintain, and track assets and transactions across a business network. Examples of cryptocurrencies are Bitcoin, Ethereum, etc. Blockchain with cryptocurrencies transforms how the transaction is conducted. Through this technology, organizations can acquire transparency, accuracy, fraud reduction, etc. Cryptocurrencies nowadays are playing a big role in the financial market by influencing regulatory frameworks and financing strategies. Blockchain technologies make tasks like auditing, transaction verification, etc., easier for professionals and ensure accuracy. Therefore, ACCA professionals are expected to understand cryptocurrencies and blockchain technologies.

    ARTIFICIAL INTELLIGENCE AND MACHINE LEARNING:

    In modern times, a good command of artificial intelligence is a need, as every task somehow or other can be automated with the help of modern technologies and AI. The use of these platforms can be highly time effective and productive for finance professionals, as well as Accountants can use these tools to do their daily tasks such as predictive analysis, risk management, fraud detection, etc.  AI makes these tasks easier, quicker, and produces accurate results. These platforms also help in effective and smart decision-making. The finance professionals should, however, have a good command of AI and understand its role in financial analysis, etc.

    OPEN BANKING:

    Through open banking systems, third-party developers can avail financial data from the banks to put forward solutions for innovative payment methods and services. Some of the reasons why open banking is playing such an important role in financial sectors nowadays globally is because it offers personalized banking experiences, new and innovative business models, etc. Financial professionals and accountants in this regard need to enhance their knowledge and expertise regarding open banking, their regulatory compliances, data privacy strategies, etc.

    DIGITAL PAYMENT SYSTEMS:

    These days, along with innovation in every aspect of life, people prefer digital payment systems over cash. With the increased audience opting for digital payment systems, many new payment platforms are introduced (mobile wallet, PayPal, etc.). This innovation requires secure payment solutions. In this scenario, the role of finance professionals is to stay updated with regulatory challenges, risk management, impact on tax compliance, and financial reporting.

    ROBO ADVISORS AND WEALTH-TECH: 

    Robo advisors and wealth-tech are the platforms that can generate automatic financial planning of an organization, work as an advisor, propose low-cost investment strategies, etc, based on their analysis and algorithms. The accountant should be well aware of these platforms and their strategies, regulatory landscape, traditional wealth management, etc.

    PEER-TO-PEER LENDING OR CROWDFUNDING:

    P2P lending platforms are used for borrowing and lending money without any financial institution being involved. This platform completely discontinues the traditional lending models. However, in such scenarios, credit risks are higher; hence, ACCA professionals should be well aware of the risks associated with these platforms, tax compliance, and accounting implications.

    DATA PRIVACY AND CYBERSECURITY:

    With a high rise in fintech trends and financial platforms, the risk of data breaches and misuse of sensitive data becomes intensive. To maintain data privacy and cybersecurity, the risks financial institutions face have a big impact, which leads to legal and financial liabilities. Finance professionals should understand the sensitivity and delicacy of financial data and its confidentiality; they should follow data protection regulations such as GDPR.

    EMBEDDED FINANCE:

    The lending, insurance, and payments into non-financial platforms are called embedded finance; it allows the users to avail financial services from non-financial platforms such as social media sites, etc. This brings more challenges for ACCA professionals, some of which are the impact on taxation and revenue recognition.Mirchawala's Hub of Accountancy CALL TO ACTION

    HOW ACCA PROFESSIONALS CAN FACE THESE CHALLENGES:

    Continuous learning:

    Keep yourself updated with new technological advancements in fintech, have a good understanding of the trends, gain relative skills, and stay competent in the accounting and finance sector. To add value in your work profile you may attend webinars, seminars or programs offering certificates in areas of fintech trends such as Artificial intelligence, blockchain, etc.

    Advisory role:

    As the complexity of fintech remains increasing, you may take over advisory roles. Advisory roles mainly deal with the regulatory matters regarding finance and accounting in an organization and ensure the financial reporting complies with the regulations.

    Tech integration:

    To adapt to fintech trends, ACCA professionals need to have familiarity with AI and automated software, blockchain solutions, etc. This can make the process easier and more productive and deliver the best outcomes.

    Risk Management:

    A good understanding of the risks attached to these innovations, such as data breaches and cybersecurity threats, can help ACCA professionals make informed decisions and propose critical solutions and strategies to overcome the threats.

    CONCLUSION:

    Without a doubt, fintech trends are shaping the accounting and finance industry rigorously. The trends and innovations of fintech are never-ending; hence, ACCA professionals need to adapt to the change. These professionals should be able to let go of the traditional methods and models of finance and adapt to fintech technologies, trends, or platforms. It is advised for the professionals to keep themselves updated with the current technologies and modern business models in order to stay competent in the financial industry. Good understanding about fintech and its uses can add value to your professional work profile.

    FREQUENTLY ASKED QUESTIONS:

    Q1: What are the key fintech trends shaping the finance industry?

    Answer: The important trends in shaping the finance industry are:

    • AI and machine learning,
    • Blockchain and Cryptocurrencies,
    • Digital banking and neobanks,
    • P2P lending,
    • RegTech, etc.

    Q2: What is the current state of fintech, and why is it important for ACCA professionals?

    Answer: Nowadays, fintech is becoming stronger day by day; it is completely replacing old traditional methods and models with modern technologies. It is highly praised as it makes tasks easier and offers accuracy and transparency. It is important for ACCA professionals to have good knowledge and required skills for decision-making, ensuring compliance, strategic guidance, etc.

  • Ultimate Guide to ACCA Professional Level: Exam Pattern, Fee, Duration and Passing Marks

    Ultimate Guide to ACCA Professional Level: Exam Pattern, Fee, Duration and Passing Marks

    Blog Structure :

    • Introduction 
    • What are the 13 subjects in ACCA?
    • ACCA Professional Level Syllabus: A Quick Go-Through 
    • Which ACCA Optional Papers should I Take?
    • ACCA Professional Level Duration 
    • ACCA Professional Level Exam Details
    • ACCA Professional Level Exam Pattern
    • ACCA Professional Level Papers fees in India
    • ACCA Professional Level Pass Rates
    • Frequently Asked Questions 

     

    ACCA is one of the most well-known certifications for accounting or finance aspirants. It is globally recognized and acknowledged for providing access to a wide range of career opportunities. You might be aware of these facts and these are the driving factors that pushed you to pursue an ACCA course. This blog is crafted for a different for a different purpose. It provides a detailed overview of the ACCA professional-level paper to help you better prepare for your ACCA journey.

    ACCA is a set of multiple papers containing detailed overviews and syllabus. The goal of the ACCA certificate is to provide you with the skills, know-how, and morals required to be successful in the accounting and financial industries. The three primary levels of the ACCA course are strategic professionalism, applied knowledge, and applied skills. Every level adds depth and complexity by building upon the one before it. Make sure to review the complete ACCA course structure before to make sure you are well-versed in what the ACCA course is all about.

    Every ACCA exam level, from fundamental ideas to strategic competence, is designed to offer a thorough educational experience. The ACCA Professional Level is the last level of the ACCA qualification that empowers the development of advanced technical abilities, professional judgment, and decision-making. It prepares aspirants for the global level of finances. Before we move to discuss the ACCA professional-level papers, let’s quickly check through the 13 papers of ACCA.

    Here we go! 

    What are the 13 Subjects in ACCA?

    Passing the ACCA examinations is like going through a demanding training program that shapes you into a financial expert. Check below the list of 13 ACCA papers:

    Exams in Applied Knowledge Level:

    1. Business and Technology (BT)
    2. Management Accounting (MA), 
    3. Financial Accounting (FA)

    Exams in Applied Skills Level:

    1. Corporate and Business Law (LW), 
    2. Performance Management (PM), 
    3. Taxation (TX), 
    4. Financial Reporting (FR), 
    5. Audit and Assurance (AA), 
    6. Financial Management (FM)

    Exams in Strategic Professional Level:

    1. Strategic Business Leader (SBL), 
    2. Strategic Business Reporting (SBR) 

    And two of the four optional papers:

    1. Advanced Financial Management (AFM), 
    2. Advanced Performance Management (APM), 
    3. Advanced Taxation (ATX), 
    4. Advanced Audit and Assurance (AAA)

    To become an ACCA graduate, you must pass these 13 papers. However, depending on your prior qualifications, you might be eligible for waivers. The number of exemptions you receive depends on your qualifications, the field, and the institutions you attend. Get a better overview of ACCA exemptions with the All In One Guide to ACCA Exemptions.

    ACCA Professional Level Syllabus: A Quick Go-Through 

    An ACCA graduate must acquire strategic and leadership skills to succeed in future leadership roles, even though the foundation courses provide the necessary information and abilities. Students are prepared for leadership roles in the future by taking the Professional Level or Strategic Professional examinations. Students develop their professional, ethical, and technical abilities as well as their ability to approach issues from several angles. 

    Two of the six papers that make up the Strategic Professional Level are required. Each student is required to select two specializations from the four optional courses. Students can focus on fields that best fit their desired careers. 

    ACCA Professional Level Subjects

    • P1: Strategic Business Leader (SBL): Governance’s role and function in an organization’s management, An accountant’s function in risk assessment Framework of ethics for professional judgment and values
    • P2: Strategic Business Reporting (SBR): An accountant’s ethical and professional obligations, structure for financial reporting, financial statement preparation for group companies, Examine potential problems with financial reporting, consequences of modifications to accounting regulations, Assessment of recent advancements

    Optional courses or electives

    (Out of the four courses, students must select two.)

    • P4: Advanced Financial Management (AFM): Corporate restructuring, mergers and acquisitions, advanced investment assessment, stakeholder management, sophisticated methods for risk management, New developments in the financial industry
    • P5: Advanced Performance Management (APM): Performance systems and design, external factor evaluation, strategic development and performance assessment, Current events throughout the world
    • P6: Advanced Taxation (ATX): Communication, Tax Planning Techniques, and Tax System
    • P7: Advanced Audit and Assurance (AAA): The framework for auditing that is conceptual and regulatory Getting ready for financial statements, analysis, and techniques.

    ACCA Professional Level: Which ACCA Optional Papers Should I Take?

    Consider your professional golds and strong points to decide which optional papers are best for you.

    • AFM: Good for people who want to work in risk management, investment banking, or corporate finance.
    • APM: Suitable for students who want to study strategy, performance management, and consulting.
    • ATX: Excellent for people who want to work as tax advisors.
    • AAA: Ideal for people who want to work in assurance services or auditing.

    You can modify your degree to match your intended professional path by choosing the appropriate mix of elective papers.

    ACCA Professional Level Duration 

    The ACCA professional-level subjects take two to four years to complete. Whether you study full-time or part-time, the number of tests you attempt each session, and exemptions are some of the factors that affect how long it takes.

    ACCA exams vary in difficulty depending on the level and subject. Papers at the professional and skill levels are thought to be harder to pass than those at the knowledge level. 

    Overview of the ACCA Professional Level Exam 

    The ACCA Strategic Professional Level Exam consists of a combination of theoretical questions, case studies, and practical assignments that call for in-depth analysis and strategic thinking.

    • The average length of an exam is three hours and fifteen minutes.
    • Exams are administered in March, June, September, and December of each year.
    • It includes the Professional Skills and Ethics Module (EPSM)

    You must finish the Ethics and Professional Skills Module (EPSM) in addition to the three levels required by ACCA. The goal of this course is to improve your professional abilities and ethical judgment, two things that are crucial in the accounting field.

    Now, we will explore the complete professional-level exam structure in the next section. 

    ACCA Professional Level Exam Pattern

    The purpose of the ACCA course exam pattern is to impart professional skills, information, and abilities. As seen in the table below, question types range from multiple-choice questions to longer responses.

    Exam Compulsory/Optional Duration Format Question Structure
    Strategic Business Leader (SBL) Compulsory 3 Hrs (CBE) Subjective 80 questions + 20 marks for professional skills
    Strategic Business Reporting (SBR) Compulsory 3 Hrs (CBE) Subjective Two 25-mark questions + One 50-mark question
    Advanced Financial Management (AFM) Optional 3 Hrs (CBE) Subjective Two 25-mark questions + One 50-mark question
    Advanced Performance Management (APM) Optional 3 Hrs (CBE) Subjective Two 25-mark questions + One 50-mark question
    Advanced Taxation (ATX) Optional 3 Hrs (CBE) Subjective Two 25-mark questions + One 50-mark question
    Advanced Audit and Assurance (AAA) Optional 3 Hrs (CBE) Subjective 80 questions + 20 marks for professional skills

     

    The next section talks about the ACCA professional papers fees. To get complete knowledge, check the ACCA Fee Structure.

    ACCA Professional Level Papers Fees in India

    Here is the overview of ACCA Professional Level exam fees and study materials cost: 

    • Exam Fees: Depending on when you schedule the exam, the  Professional Level exam fee can be around £180 and £255.
    • Study Materials: The price of study materials, such as textbooks and revision aids, can range from £100 to £200 per paper. 

    Exam Fees (Per Paper) in India:

    • Knowledge Level: ₹10,500
    • Skill Level: ₹13,500
    • Professional Level: ₹15,000 – ₹20,000

    After the ACCA fee, now we will check through the passing rates of the ACCA professional-level exam. 

    ACCA Professional-level Pass Rates

    The percentage of applicants that passed the exam is known as the pass rate. Despite appearing to be only statistics, these numbers provide insightful information: Below is the list of ACCA professional-level pass rates:

    Strategic Professional Level

    • Strategic Business Leader (SBL): 50%
    • Strategic Business Reporting (SBR): 50%

    Strategic Professional: Optionals

    • Advanced Audit and Assurance (AAA): 34%
    • Advanced Financial Management (AFM): 45%
    • Advanced Performance Management (APM): 34%
    • Advanced Taxation (ATX): 48%

    Get the latest insights on the ACCA passing rates and results: ACCA Top Scorers for December 2024!

    Frequently Asked Questions (FAQs)

    Q: What is ACCA’s professional level?

    Ans: A master’s degree is the equivalent of the professional level. You can use the ‘ACCA’ initials after your name and start working as a professional accountant after you have successfully finished your exams, ethics module, and work experience and applied for ACCA membership.

    Q: What is the pattern of the ACCA professional-level paper?

    Ans: There are two portions to this study. There are fifteen objective questions in Section A, each worth two marks. Two 20-marks and one 30-marks structured response workplace questions make up Section B. Two 25-marks questions and one 50-marks question make up the single part of this subjective paper.

    Q: Is ACCA professional level difficult?

    Ans: ACCA exams vary in difficulty depending on the level and subject. According to pass rates, skill- and professional-level papers are thought to be more difficult to pass than knowledge-level papers.

    Q: Which ACCA professional paper is the hardest?

    Ans: Advanced Audit and Assurance (AAA) is the ACCA exam that students find most difficult.

    Q: What is the pass mark for the ACCA professional level?

    Ans: The ACCA professional level passing score is 50% on all exams. You will pass any paper if your score falls within this range. There is no correlation between ACCA exam pass percentages and ACCA pass scores.

    Hopefully, you have enjoyed exploring this entire blog and it will add value to your life. If you wish to know more about the ACCA course, contact us now!

  • Green Accounting: How Sustainability is Shaping the Accounting Industry

    Green Accounting: How Sustainability is Shaping the Accounting Industry

    OVERVIEW:

    The trend of incorporating green accounting in an organization’s financial practices is quite a hype nowadays. By green accounting, it means following sustainable accounting practices that don’t violate any social or environmental factors but rather help build a better society and environment. Sustainability is becoming a huge concern globally, with the rising trend and demand for sustainable business practices in society; it has become extremely crucial to mold accounting practices following it. With the help of green accounting, organizations can successfully ensure long-term sustainable stability. To know more about sustainable practices and their impact on the accounting industry, read the blog ahead.

    KEY ASPECTS OF GREEN ACCOUNTING:

    Green accounting helps in identifying both direct and indirect costs related to environmental impacts. For example; carbon emissions, energy consumption, waste management, etc.

    Green accounting helps the organization or business to make smart decisions regarding sustainable practices. Through those financial statements and records, businesses can assess the financial implications and outcomes of their sustainable efforts. By monitoring their sustainable practices, they can keep track of their economic standings along with potential results and hence, make better decisions.

    Carbon footprints and emissions reporting are also a part of sustainable accounting practices; with the help of greenhouse gas protocols, organizations can calculate carbon emissions from their business practices.

    It also includes natural resources valuation so that the organization is able to incorporate it in their financial statements. The natural resources include water, minerals, etc. This practice allows the business to make more structured and effective choices.

    Green accounting also covers the environmental risk management frameworks; organizations can incorporate risk management strategies and analyze the financial impacts of it. For example, the impact of natural disasters, resource scarcity, etc.

    Green accounting highly promotes integrated reporting; in this reporting, the traditional financial accounting is combined with non-financial ESG factors. Including ESG factors and aligning them with business practices is becoming very crucial as the customers and stakeholders are not willing to compromise on sustainable practices and demand financial transparency.

    HOW SUSTAINABLE PRACTICES ARE SHAPING THE ACCOUNTING INDUSTRY:

    Regulatory Compliance:

    With society becoming more educated about the importance of eco-friendliness in our lives and its impact on the future, people are being more considerate about sustainable practices. Governments around the world have introduced strict environmental regulations, such as carbon taxes. To comply with government regulations and avoid any consequences or penalties, businesses need to follow environmental accounting practices.

    Investor demand:

    Nowadays investors, partners, or even stakeholders prefer businesses that are focusing on ESG factors and comply with regulatory sustainable practices. By following sustainable accounting practices and reporting, an organization can portray their commitment to green practices, measures they have taken for environmental and societal benefits, etc. Demonstrating your efforts for sustainability through green accounting catches the attention of socially conscious investors.

    Sustainability Reporting Standards:

    Sustainability reporting standards have been introduced; organizations are required to follow sustainable reporting standards such as Global Reporting Standards (GRI) and Task Force on Climate-related Financial Disclosures (TCFD), etc. These standards make it easier for accountants to prepare comprehensive and accurate green reports.

    Public perception and reputation:

    In today’s world, as society is getting educated about the importance of environmental and societal values and their impact on coming generations, people are becoming more conscious and considerate about sustainable practices. Therefore, eco-conscious customers prefer businesses that promote sustainability. With the help of sustainable business practices and green accounting, an organization can create a good brand image, resulting in an increased number of sales, customer loyalty, etc.

    Green Audit Services:

    There is an increase in demand for green audit services; an accountant is expected to take over responsibilities like verifying carbon footprints, assessing an organization’s impact on the environment, transparency in reporting, etc. The increased demand for accountants following sustainable accounting practices gives professionals opportunities to diversify their services.

    Education and Skill Development:

    With the change in demand for skilled accountants possessing a good understanding of sustainable accounting practices. It has become crucial for accountants to have in-depth knowledge about sustainable practices, environmental policies, sustainable reporting metrics, etc. To develop these emerging skills, accountants seek training and certifications to maintain their competence in the industry.Mirchawala's Hub of Accountancy CALL TO ACTION

    OUTLOOK FOR THE FUTURE:

    It is forecasted that in the coming times, green accounting will make its permanent place in the finance and accounting sector globally. With the increased concern for environmental factors amongst people, businesses now have to align their operations and practices with sustainability goals. With time, more businesses are turning towards sustainable practices. To make financial decisions about sustainable operations, accountants are required to apply green accounting practices in their daily tasks. Along with this a rapid development in the technological side is also observed, numerous tools for carbon tracking and data analytics have been introduced enhancing the accuracy of the work.

    CONCLUSION:

    Sustainability is playing a very crucial role in shaping the accounting and finance industry, it contributes in making industry stronger, transparent, and credible. To implement sustainable practices in any business, it is crucial to follow environmental accounting practices. With sustainable accounting practices, an organization can make effective financial decisions and sustainable practices, and their outcomes can be showcased through sustainable reporting, etc. Observing the great concern about environmental and societal factors amongst stakeholders, sustainable accounting is becoming a very crucial skill for accountants.

    FREQUENTLY ASKED QUESTIONS:

    Q1: Why is green accounting important?

    Answer: Sustainable accounting is very important for the implementation of sustainable practices, it allows the organization to assess carbon footprints, and make decisions regarding financial and operational concerns. These concerns include waste management, energy consumption, etc.

    Q2: What are the key components of green accounting?

    Answer: The key components of sustainable accounting practices are: Carbon footprint analysis, Natural resource management, Sustainability reporting, Environmental cost accounting, Waste and pollution management, etc.

    Q3: How does green accounting benefit business?

    Answer: Green practices or sustainable accounting is quite beneficial for businesses as well, it doesn’t only contribute to environmental or societal advantages but also helps organizations in cost savings, creating brand image, and regulatory compliance.

  • Importance of Practical Experience Requirements (PER) in ACCA.

    Importance of Practical Experience Requirements (PER) in ACCA.

    ACCA(Association of Standard Chartered Accountants) completion is the dream of many in the world. Is only completing ACCA enough? Yes, completing ACCA is a very big accomplishment but, ACCA theory does not equate practical experience. It’s essential to gain some practical experience as well.For that purpose professionals and students do PER. Let’s read along and we will guide you with the importance of ACCA practical experience 

    What is ACCA PER certification?

    ACCA PER certification is an important aspect of ACCA qualification. It is specially designed to bridge the gap between theory and practicality of the ACCA studies. This certification gives candidates hands- on experience and skills to excel in the workplace during their studies. PER helps students in achieving ACCA membership by demonstrating their practical skills.

    Read More  https://mirchawala.com/blogs/helen-brand-leading-accas-global-finance-and-accounting-vision/

    What Background is Needed to complete ACCA PER certification?

    Completing the ACCA Practical Experience Requirements,  does not need specific academic or professional background instead these following elements are mandatory to be fulfilled. 

    • Enrollment in the ACCA programme

    Before initiating your PER journey one must be enrolled as an ACCA student. This includes registration with ACCA meeting the eligibility criteria and passing through your exams.

    • Relevant employment 

    Your work must be lined up with the knowledge listed in ACCA syllabus. Typical roles include accounting, finance and auditing and  taxation related roles to ACCA.

    • Workplace mentor 

    Mentors hold so much importance in student lives.Having an ACCA qualified member and already employed ACCA accountant is important for PER. Mentors will guide you throughout the process and ensure you will meet the required standard.

    • Committed to learning 

    PER is a passive process and it needs active participation, continuous learning and consistent progres tracking to meet the performance objectives.

    Mirchawala's Hub of Accountancy CALL TO ACTION

    Key Features of the ACCA PER Certification

    Here are the main criteria for ACCA PER certification that needs to be fulfilled. 

    Candidates must complete 9 of 20 performance objectives classed as technical and professional skills. These objectives include.

    • Ethics and professionalism
    • Stakeholder Relationship Management
    • Financial management
    • Risk management

    Supervisory Approval

    Practical experience must be overseen and confirmed by a trained professional who will serve as your workplace mentor.

    Work Duration

    A minimum of three years of relevant work experience is necessary, which can be obtained prior to, during, or after passing the ACCA exams. Past work experience can be counted if it fits in the field of ACCA. 

    Benefits of ACCA PER Certification

    PER certification has many benfits and it promotes personal and professional development. Below are the reasons why it is so important for ACCA students.

    Comprehensive skill development 

    PER includes all the technical and soft skill development steps. This is super beneficial for individuals who will serve in financial domains in future. Hence, this PER makes you an all rounded professional. 

    Improving Employability 

    Both academically and practical skills are essential in getting the best jobs. Employers seek professionals who are best in professional skill. PER makes you stand out from others and attractive employers for the companies. 

    Building Professional competence 

    PER helps in developing your personal skills such as communication skills, analytical and problem solving skills. Analytical and leadership skills advance with the PER and all these expertise are making you competence for the job market.

    Linking the Gap between theory and practical

    Students can get theoretical  knowledge with exams and real world knowledge with jobs and practical experience in ACCA. By gaining the PER student can connect their theoretical knowledge with the practical skills. As, theoretical skills is of no use with the practical knowledge and vice versa. 

    Global recognition

    PER is globally recognized and validates for students to get jobs in the global market. PER certificate completion validates that students can get exposure in diverse financial fields and learn so much from their changed culture environment if they get employed somewhere else in the world. 

    Conclusion

    The ACCA practical experience requirements(PER) is the important part of the journey to becoming an ACCA member. PER makes one a competent, confident and skillful accountant. So, it should not be a milestone for ACCA students but an evergreen opportunity to grow, learn and excel successfully in the field of accounting and finance.

    FAQs (Frequently Asked Question)

    What happens if PER is not completed?

    If PER is not completed you cannot fully achieve the ACCA membership even if you passed all the exams. 

    How much time does it take to complete PER?

    It takes three years and relevant work experience to complete the PER that can be completed before, during and after the completion of your ACCA exams. 

    Can past work experience give advantage in PER?

    Yes, working experience before enrolling in the ACCA programme counts as well. But, it should be aligned with the ACCA objectives and approved by the qualified mentor. 

    Do I need to work full-time to complete PER?

    No, you do not need to work full-time for completion of PER part-time work is enough as long as it meets the requirements of ACCA.

    How do I find a workplace mentor?

    You can find a workplace mentor through networking and look for the supervisor or seniors who are already qualified accountants. They can guide you best.

  • ACCA Salary Per Month in India

    ACCA Salary Per Month in India

    ACCA Salary Per Month in India: Freshers, Experienced and Big 4

    India’s continuously evolving commercial and financial sector is reflected in the vast and dynamic scope of ACCA.  ACCA experts are craving a niche across a range of industries in India. This means that obtaining ACCA in India opens up a world of opportunities for both financial gain and international opportunities. The excellent ACCA salary per month in India is perfect to meet all the living expenses while taking care of future savings. If we consider the industry demands, it is increasingly going high in India. Further, the emergence of digitalization and automation is shaping the future of ACCA jobs. 

    Aspirants just need to be proactive and knowledgeable, whether your goal is to progress your ACCA career in India or to go overseas. Beyond the numbers, crucial elements like work-life balance, cultural fit, and personal development are well taken care of when you decide to pursue an optimal career path like ACCA. To make you more confident, we have created this detailed guide on ACCA salary that will give you a clear picture of how much you are going to earn per month as an ACCA professional in India with much more details. 

    So stay tuned and keep scrolling! 

    ACCA Salary Per Month in India for Freshers

    ACCA freshers in India can explore job opportunities in positions similar to those held by Indian accountants. For entry-level roles such as financial analysts, account executives, and accounts and taxation specialists, many accounting and finance companies now actively pursue ACCA freshmen. There are many opportunities for a successful career when you join a reputable organization. Reputable companies like Grant Thornton, Deloitte, and KPMG, to mention a few, provide jobs to qualified applicants. An average ACCA salary per month in India might range from ₹40,000 to ₹60,000; however, ACCA affiliates and freshers earn less. Check the list below for ACCA salary for freshers: 

    ACCA Salary in India for Freshers (Monthly Pay)

    Job Role Salary Range (Per Month in ₹)
    Accountant ₹25,000 – ₹50,000
    Financial Analyst ₹33,300 – ₹58,300
    Tax Accountant ₹29,100 – ₹54,100
    Financial Consultant ₹33,300 – ₹58,300
    Management Accountant ₹29,100 – ₹54,100
    Finance Executive/Assistant ₹25,000 – ₹41,600
    Junior Analyst/Assistant ₹29,100 – ₹50,000

    ACCA members can expect increased pay and professional growth in the fast-paced accounting and finance industries as they get experience and knowledge. An average ACCA salary structure is also heavily affected by the career journey before earning the ACCA certificate. 

    ACCA Salary in Big 4 Per Month: From Freshers to the Highest Levels 

    The Big 4 are well-known international professional services organizations with a significant presence in India. These companies are Deloitte, PricewaterhouseCoopers (PwC), Ernst & Young (EY), and KPMG. Top talent in the accounting and finance industries is drawn to these organizations because they provide a wide range of services, such as taxes, consulting, and advisory services. The Big 4 firms’ average salary wage varies according to geography, experience level, and job role. Here is a quick overview of ACCA salary per month in the Big 4: 

    Salary Breakdown by Experience Level (Monthly Pay in INR)

    Experience Level Job Role Average Monthly Salary (INR)
    Freshers (0-2 years) Associate/Audit Associate ₹37,500 – ₹58,300
    Consulting Analyst ₹41,600 – ₹66,600
    Tax Associate ₹37,500 – ₹62,500
    Advisory Associate ₹41,600 – ₹66,600
    Mid-Level (2-5 years) Senior Associate ₹66,600 – ₹1,25,000
    Consultant/Senior Consultant ₹83,300 – ₹1,50,000
    Tax Senior ₹75,000 – ₹1,33,300
    Audit Senior ₹66,600 – ₹1,25,000
    Senior-Level (5-10 years) Manager ₹1,25,000 – ₹2,08,300
    Senior Manager ₹1,66,600 – ₹2,91,600
    Tax Manager ₹1,50,000 – ₹2,50,000
    Advisory Manager ₹1,66,600 – ₹2,91,600
    Executive-Level (10+ years) Director ₹2,50,000 – ₹4,16,600+
    Partner ₹4,16,600+

    Experience determines an ACCA’s pay at Big 4 companies.

    ACCA salary per year:  For entry-level positions in Big 4 firms, the typical ACCA pay ranges from ₹8,00,000 to ₹12,00,000 per year. After a few years of expertise, an ACCA’s annual compensation in Big 4 firms might increase to between ₹15,000,000 and ₹25,000,000. 

    ACCA Salary Per Month in India: Experience-Wise

    ACCA professionals at the initial level have the abilities and knowledge needed for the job; thus their pay is very modest. With experience and knowledge, the pay package gets better. Then, the ACCA salary in India after 10 years can go far more than an accounting professional can ever imagine. To find out more about the ACCA salary in India, see the table below.

     Get a better understanding and check more detailed data on the ACCA pay range in India. Check this article on the ACCA salary in India.

    ACCA Salary in India (Monthly Pay)

    Experience Level Average Monthly Salary (INR)
    Entry-Level (0-2 years) ₹33,300 – ₹66,600 per month
    Junior-Level (2-5 years) ₹41,600 – ₹75,000 per month
    Mid-Level (5-10 years) ₹66,600 – ₹1,25,000 per month
    Senior-Level (10+ years) ₹1,00,000 – ₹2,08,300+ per month

    The Highest Salary of ACCA in the World: A Glimpse 

    Because of the growing need for certified professionals in accounting, finance, and auditing across a range of industries and international corporations, the ACCA’s reach both inside and outside of India is expanding quickly and so is the salary of ACCA professionals across the world. Here is a quick list of nations with the ACCA salary insights across the world: 

    If you are looking for a complete overview of ACCA payout worldwide, check out this blog on ACCA Salary Worldwide.

    ACCA Salary Per Month in the UK 

    Those who hold ACCA accreditation can apply for further study programs or enroll in graduate school, and many universities accept it as a prerequisite for a bachelor’s degree in accounting. To get a good ACCA employment income in the UK, students can either work after completing the ACCA or pursue advanced degrees.

    Average ACCA Salary in the UK (Monthly Pay)

    Experience Level Average Monthly Salary (GBP)
    Entry Level £2,916 – £3,333 per month
    Mid-Senior Level £3,750 – £4,583 per month
    Senior Level £4,583 – £8,333+ per month

    ACCA Salary Per Month in Canada 

    Having an ACCA qualification helps in your job search in the accounting and finance sectors in Canada.  It might improve your Express Entry application for Canadian permanent residence.

    Average ACCA Salary in Canada (Monthly Pay)

    Experience Level Average Monthly Salary (CAD)
    Entry Level $3,333 – $5,416 per month
    Mid-Senior Level $5,000 – $8,333 per month
    Senior Level $10,000+ per month

    ACCA Salary Per Month in Australia

    The Institute of Public Accountants in Australia and the Certified Practicing Accountant (CPA) Australia both recognize practitioners with an ACCA degree. The career potential of ACCA is excellent in Australia. 

    Average ACCA Salary in Australia (Monthly Pay)

    Experience Level

    Average Monthly Salary (AUD)

    Entry Level

    		 AUD 4,166 – AUD 5,416 per month

    Mid-Senior Level

    		 AUD 5,833 – AUD 7,500 per month

    Senior Level

    		 AUD 7,916 – AUD 10,000 per month

    This was a complete overview of the ACCA salary per month in India and the average annual payout of ACCA professionals in different nations. Hopefully, you have found this post helpful and insightful. If you wish to know about our ACCA course, contact us now. We will be glad to support you. 

    Frequently Asked Questions (FAQs)

    Q: Can ACCA earn in crores? 

    Ans: Yes! ACCA in India has the potential to earn crores of rupees. Senior-level ACCAs with experience can earn between ₹30 and ₹60 lakhs per year. Executive positions such as CFO may earn more than ₹100 lakhs.

    Q: What is the highest package in ACCA?

    Ans: ACCA experts with a wealth of experience frequently hold senior management positions, which come with a sizable pay increase. The highest packages in ACCA range from ₹20 lakhs to more than ₹30 lakhs.

    Q: How does the salary of an ACCA compare to other accounting qualifications in India?

    Ans: The competitive pay for ACCAs is comparable to or occasionally more than that of other accounting degrees. This is the reason why ACCA is considered one of the best accounting career options in India.

    Q: What is the ACCA salary with B. Com?

    Ans: An average ACCA salary in India for freshers is between Rs 5 lakhs and Rs 20 lakhs per year, while entry-level workers might get between Rs 3 lakhs and Rs 10 lakhs per year. If you are considering taking ACCA after your BCom, you must check this blog on Why ACCA with BCom is a Good Choice.