Tag: ireland

How do Accountants Influence Business Strategy in Ireland?
Financial planning needs professionals like accountants, and these are not only concerned with making plans or decisions. But accountants take business towards sustainable growth and success that is the need of each business. Ireland’s economy is growing and in this growth there is a need to pay very good attention to business strategies. In this article, we will see how accountants influence business strategy in Ireland and what skills they need to have to make these best business strategies.

What are the business strategies?

Business strategies are the brief plans that outshow the company and organization approach to achieve their long-term goals. This strategy reflects business growth, position in the market, and direction in which business grows.

How do accountants Influence Business Strategy in ireland

Accountants play a key role with their skills in shaping the strategic decision making in Ireland.
- Resource Distribution and Budgeting
Worthwhile budget is necessary for every business and accountants play a very important role in making this budget. By calculating the future cost and analyzing the past expenditure they can better use and distribute the resources for the business. For making budget accountants work with the management and make sure it aligns with the company’s existing objectives.
- Performance measurement and reporting
Finally, accountants play an important role in measuring and reporting on the company’s success. These reports are critical for retaining responsibility and staying focused on the organization’s strategic goals. Accountants assist organizations in remaining flexible and responsive to changing market situations by constantly reviewing performance levels.

They create key performance indicators (KPIs) that are consistent with strategic goals and track success over time. Regular performance reports provide significant insights into how successfully the organization is carrying out its strategic decision making and identify areas for improvement.
- Sustainability and Social responsibility
As organizations increasingly understand the value of sustainable practices and social responsibility, accountants play an important role. They can help organizations implement and report on environmental, social, and governance (ESG) strategies that benefit the world and society while also driving long-term business success.
- Best Financial plans and Management
Regardless of the size of industry every business needs an accountant for best financial plans. Accountants play a major role in giving the financial plans to the business and management of these plans. The role of an accountant is that they make plans according to the business budget considering the risks and designing a well implemented plan.
- Compliance with irish tax laws
Accountants in Ireland help in keeping the companies relevant with the Irish tax laws. And accountants put all their efforts into complying with all regulation, avoiding costly penalties and maximising tax efficiencies.
- Risk management
As there is the main aim to have an accountant for business is risk management,as business cannot exclude risk at any cost. Accountants can use their skills for minimizing risk and protecting business from facing future loss and keep business stable.
- Turning data into insights
Data is the structured asset and most important one in the era of information. Accountants with their unique skills and analytical abilities are eligible to convert data into information. Accountants provide essential information to executives by studying trends, recognizing opportunities and threats, and generating projections.
- Cost optimization
Through having the detailed analysis of financial records and other reporting, accountants identify areas where cost can be reduced without compromising operations that will ultimately increase profits.
- Accountant supports business growth
Businesses do not only need establishment, instead growth of business is so important for stability. Accountants are of high value when developing business growth strategies and scaling it in the market.

Conclusion

Accountants cannot be separated from the Irish economy as they have a very vital role in financial planning, risk management and analysis. And along with the technology advancement the accountants have become more clear with their strategies. Small and large businesses across Ireland rely on accountants abilities to help with business strategies and achieve continuous success.

Frequently asked questions

Why does business need financial risk management?

Every business needs financial risk management to excel and grow without potential risks. Financial risk management eliminates risk and gives business growth.

What main skills should I look for in accountants in Ireland?

Being an accountant in Ireland you should have following skills: financial analysis, strategic thinking, technology awareness and strong ability to communicate well.

How do small businesses get support from accountants in Ireland?

Accountants help in developing business strategies and calculate risks and manage finances. All these factors help in business growth.

What type of technological advancement is changing accounting in ireland?

Cloud-based software, AI and automation, data analytics, blockchain, and mobile accounting solutions are among the primary technologies transforming the accounting industry.
February 9, 2025
Why is FinTech Important for ACCA Professionals in Ireland?
Technology is integrated into our daily lives, individuals and businesses rely on it for both large and little work-related tasks. Cloud computing, artificial intelligence, big data, and blockchain have been used in a variety of financial applications as technology has advanced. There is an increasing demand for finance professionals with skills and knowledge related to fintech.

Knowledge of technology along with finance concepts is essential for finance professionals to understand the architecture of technology and how it can be applied to solve different aspects of finance. This article will cover the main concept of fintech in accounting and its application in the finance industry.

What is Fintech?

Financial technology refers to fintech and it indicates businesses that use technology to innovate, streamline, and enhance financial services. It contains different applications such as mobile banking, digital payments, online lending, blockchain, and investment platforms.

The main aim of Fintech in accounting is to simplify the financial process, improve efficiency, and make services more accessible to businesses and consumers. All of this is achieved by integrating the latest technology such as artificial intelligence and data analytics in Fintech

Types of Fintech

Here are the following different types of Fintech in accounting
- Blockchain and cryptocurrency
- Insurance technology
- Mobile payments
- Regulatory payments
- Personal Finance
- Insurtech(Smart policies)
- Digital investment
- Consumer Finance
Applications of Fintech in the financial industry

Fintech in accounting is completely submerged and below are a few applications of Fintech in the financial industry:

Digital Payments and Mobile Banking Solutions

Platforms such as PayPal and Stripe have simplified online transactions, while mobile banking apps enable users to manage accounts and investments while on the go. These digital payment methods create great comfort for users.

Insurance

Companies are modernizing the insurance market by combining data analytics, artificial intelligence, and blockchain to provide personalized policies and speed claim processes. This will minimize the complications of the insurance process.

Digital lending and peer-to-platform

Fintech in accounting makes it easy to have loans and make it quick for its users For example Good leaps gives unique financing options to individual and organizations giving feasible loan and financial options to them

Digital Investment

Investment is made through digital platforms that employ innovative technologies.

Robo-advisors are automated platforms that provide investment oversight.One example is Betterment and Wealthfront. Apps such as Acorns enable users to invest small amounts by rounding up transactions. Bitcoin assets and cryptocurrencies made localising investing easy. Social trading Platforms such as Etoro allow consumers to emulate the methods of successful investors.

Advantages of Fintech in Accounting

Fintech is changing the accounting fields in most unexpected ways and it is also emerging with traditional accounting:

Improved Accuracy

Machine learning algorithms can discover defects and inaccuracies, resulting in more precise financial reporting.

Real-time financial reporting

For improving transparency and faster decision-making many platforms work on financial technology. Platforms like Quickbooks and Xero give real-time updates on financial reporting.

Cost savings

Automation lowers labor costs, while cloud-based solutions cut infrastructure prices.

Routine Task Automation

Financial technology products save time and reduce errors by automating repetitive operations like bookkeeping and invoicing processing.

Regulatory Compliance

Fintech solutions assist accountants in adhering to regulations by incorporating compliance checks into their daily activities.

What are the challenges of Fintech?

As Fintech in Ireland is giving many advantages, still it comes up with many challenges.

Problems with regulations

Traditional financial institutions and fintech startups both face regulatory issues related to capital needs, anti-money laundering, safety, and confidentiality. Traditional financial institutions can face significant costs to comply with regulations and compete with fintech start-ups. Depending on their financial services, traditional financial institutions, and fintech startups may have additional regulatory obligations.

Managing risk is difficult.

In addition to regulations, fintech must manage risks. Most of the fintech companies were developed after the 2008 financial crash. So, there is a need to check the credit risk and liquidity of the companies.

Privacy and security issues

Consumers face several frauds in Internet banking, leading to financial losses. Scammers use technology to steal people’s money, posing a significant challenge for fintech companies. Payment apps like Paytm and PayPal can also compromise mobile phone security.

Client Service Management Problems

To better meet the expectations of tech-savvy Generation X and Y customers, financial companies should increase connectivity, comfort, and personalized goods. With the rise of fintech networks, providing integrated client service management has become increasingly important.

Conclusion

The Fintech in accounting industry is growing more and more with evolving technology and giving real solutions to financial problems. Despite challenges, Fintech is infusing in accounting fields making accounting operations easy for professionals in the field of accounting.

Frequently Asked Questions (FAQs)

What is financial technology?

Fintech is the financial technology to replace the financial services from traditional form to digital form. From Block chain to mobile banking all services can be automated.

What are some real-life examples of Fintech?

Amazon advanced payment systems, good leap lending solutions and open sea blockchain marketplace are some real-life examples of Fintech.

How can I become a Chartered accountant in Ireland?

ACCA certification is needed to be completed to become a chartered accountant in Ireland. Training and exams needed to be completed by chartered accountant institutes in Ireland.

How is Fintech used in the field of accounting?

Fintech in accounting Creates simplifications in accounting processes through automation, real-time reporting, AI-driven analytics, and regulatory compliance tools.
February 9, 2025
Top 9 Careers After ACCA: Future Scope & Salaries in Ireland.
Career is the most attractive thing for students pursuing their education and it is the best motivation for them to move ahead. ACCA(Association of Standard Chartered Accountants) is a journey that ends on demanding and highly paying careers. This article will explore the Top 9 jobs after ACCA in Ireland. Let’s read along!

Top 9 Careers after ACCA in Ireland

Here are the top 9 job opportunities students can have after ACCA qualification in Ireland.

Finance manager

The finance manager manages the company’s financial status. This includes tasks such as budgeting, risk management, and financial health. Ireland’s growing economy and Small and large enterprises offer multiple opportunities for finance managers.

Salary range: €60,000 -100,000+

Business Consultant

ACCA professionals can enter business consultancy, showing their expertise in the field of business. Business consultants can assess business risk, manage operations, and improve profitability.Mixing Ireland’s global and local opportunities offers a diverse role for business consultants.

Salary range: €40,000 – €120,000+

Corporate treasure

Corporate trainers can manage company liquidity, investments, and risks related to financial management. This role is crucial for businesses surviving in a complex financial environment, making it a high-demand career for Ireland graduates.

Salary range €50,000 -€100,000+

Risk manager

In Ireland, sectors like IT, banking, and insurance need risk skilled managers. Risk managers can identify, and reduce financial operations and strategic organization for companies. With ACCA’s focus on risk management and governance, this ACCA job role is a perfect fit for students in Ireland.

Salary range €60,000 – €120,000+

Forensic accountant

Forensic accounting is a niche, but it is fastly fast-growing field. Forensic accountants investigate financial discrepancies, legal disputes, and fraud.

Salary range: €40,000 – €80,000+

Internal auditors

Internal auditors perform tasks that companies comply with laws, regulations, and internal controls. This role is typically used in banking, insurance, and technology. Growing tech and financial services sectors give numerous opportunities for ACCA professionals as internal auditors.

Salary range: €35,000 – €90,000+

Financial analyst

ACCA equips candidates with financial modeling skills that are needed for the role of financial analyst. Financial analysts play a very important role in advising businesses on investment, budget planning, and financial strategies.

Salary range: €40,000 – €100,000+

Tax consultants

Tax consultants are in high demand in Ireland because of the country’s tax framework and it’s becoming the hub of multinational corporations. ACCA certification with its focus on tax law and compliance makes students an ideal candidate for its corporate tax strategy and tax advisory.

Salary range €30,000 -90,000+

Chartered accountant

A career as a chartered accountant is one of the most popular options for ACCA graduates. In Ireland, chartered accountants are essential to organizations of all kinds, from start-ups to global corporations. Their skills are required for financial reporting, auditing, tax planning, and making smart decisions.

Salary range: €35,000 -€80,000+

How ACCA prepares you for these careers

The ACCA qualification is designed to give students technical skills with analytical knowledge. Moreover, strategic thinking and ethical decision-making. All these skills are valued by employers at the time of hiring.
- Financial Reporting is required for positions such as chartered accountant and financial analyst.
- Taxation is an essential resource for tax advisers and corporate treasurers.
- Risk Management prepares you for employment as a risk manager or internal auditor.
- Strategic planning is useful in positions such as business consultant and finance manager.
Factors affecting salaries of ACCA professionals

There are factors on which ACCA salaries depend. Here are the following.
- Experience counts
Salary depends upon the experience of candidates. Although, many firms offer very good starting salaries to fresh graduates.Ultimately, mid and senior-level professionals receive high salaries and benefits along with that.
- Location
Salaries for ACCA professionals in Ireland are heavily influenced by their location. Major financial cities such as Dublin, Cork, and Galway pay greater wages than smaller towns due to higher living costs and increasing demand for competent individuals.
- Industry and Sector Variation
The industry in which ACCA professionals work significantly affects the salaries of ACCA professionals. Job roles that need high technical skills such as tax auditor and financial analyst have a huge pay scale. Moreover, those working in the public sector have low salaries as compared to private organizations.
- Additional education
Adding on education that complements your ACCA qualification impacts salary and can improve the earning potential manyfold. Certification in taxation, management accounting, and PER can be added to your ACCA certification.

Conclusion

ACCA qualification gives students high-paying opportunities. Most importantly in the ACCA job market, there are jobs for every level such as entry-level, mid-level, and senior level. And students who start their own business get more advantages. Comparable to jobs. Now you can hunt for the most popular job vacancies in Ireland and start your professional career in a most exciting way.

FAQs(Frequently asked question)

How does ACCA help in accounting and management roles?

ACCA qualification equips students with skills with analytical and strategic needs for management accounting. These skills help students to contribute to organizational decision-making skills.

Are there any job opportunities for ACCA professionals in Ireland?

Yes, there are plenty of job opportunities for students in different sectors of Ireland as Ireland’s economic expansion creates more jobs.

What is ACCA salary in Ireland per month?

The average salary ranges from €50,000 to €95,000 annually, depending on the role, experience, and location.

What is the best course to get a job in Ireland?

The ACCA qualification helps students in getting the most highly paying jobs as an accountant. Moreover, ACCA is a globally recognized certification that helps students in getting jobs internationally.

Can ACCA professionals work in KPMG Ireland careers?

Yes absolutely, KPMG Ireland and top firms actively hire fresh graduates for roles like audit, taxation, and financial advisory.
February 8, 2025
7 great reasons why you should study business in Ireland
Ireland is a country known for its best cultural heritage and beautiful scenery. It is also a global education hub. Ireland has emerged as the perfect destination for international students, with its welcoming atmosphere and world-class education.

Business education in Ireland also gained popularity with its advanced syllabus, innovative learning, and promising career paths. Whether one aims to become a certified chartered accountant or wants to understand the dynamic of international business Ireland study is the best choice. This article will give the 7 best reasons to study business in Ireland.

What is Business study?

Business study is not merely a subject study, it’s a broad term that holds many subjects in it. These broad topics include human resources, finance management, marketing, and economics. By covering all these wide subjects business education enables students to learn in and out of business. Making them seek high-level job opportunities or start their business establishments.

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

Courses offered in Business study

The business study includes different courses to meet the industry demands. Students can pursue courses according to their will and interest below is the list of the following courses.
- Bachelors and Masters degree in Business Administration
- ACCA certification
- Post Graduate Diploma in Management
- Institute of Chartered Accountants of Ireland programme
- MBA with a focus on entrepreneurship and management
7 best reasons you make you love study business

There are many reasons students are inclined towards ireland study because of their interest. Below are a few reasons to read.
- Get knowledge of different things under one degree
Business degree is not focused on singular things, instead, it is a multidisciplinary field in Ireland. Students study different fields like finance, operations, management, business laws, project handling, etc under one degree. This diversity opens so many different career paths for students to explore. That is the ultimate advantage of studying business.
- Business makes money
Unlike jobs that give 9-5 looping schedules with calculated salaries, business hugely makes a profit. But, business needs constant supervision and alertness that makes you a millionaire. If someone is ready to put in the effort and is passionate enough soon money will flow to them.
- Business Solves problem
Every product we see around us is the solution to some problem. For example, the smartphones we hold in our hands are solutions for faster communication. Moreover, there is more need for people and minds who can solve the product problem of society to make people’s lives easier.
- Business study improves communication skills
The business syllabus includes so much idea exchange, presentations, and engaging learning. This will automatically improve the communication skills of students studying business. They will feel confident enough to communicate themselves and their ideas to the world. It will become the reasons to go to Ireland and study business
- Opportunities for networking while studying
Ireland attracts students from different cultures and different parts of the world. The mixing of different cultures and international opportunities helps students understand the global market. Programs like ACCA careers and chartered accountancy give global chances to grow and network for students.
- Develops analytical abilities with time
As students progress with their studies in Business they develop analytical and critical thinking. Business needs a different approach and, mindset on things and study makes students pay attention to details and give ideas to the world.
- Your entrepreneurship skills will expand.
If you are passionate enough about doing your own business and creating job opportunities for others. International study in Ireland helps you to get closer to your dreams even more. Business subjects are designed in a manner that entrepreneurship becomes easy for you as compared to other individuals.

Institutions that provide business studies in Ireland

Here, is the institute that offers business study to students in Ireland locally and internationally. Ireland has several top institutions known for their business programs.
- Trinity College Dublin is well-known for its MBA and innovative business programs.
- University College Dublin (UCD) provides globally recognized degrees and is home to the Michael Smurfit Graduate Business School.
- Dublin City University (DCU) is a recognized leader in entrepreneurship and management studies.
- The National University of Ireland, Galway offers courses with significant industrial linkages.
Conclusion

Business study in Ireland links industry and academia and benefits both students and industries. Students who are passionate enough to make their mark in the world must study business.Moreover, ACCA Ireland creates paths that are never there before and it is the best gateway to multiple opportunities.Business studies help you to excel both globally and locally.

Frequently Asked Questions

How to become an accountant in Ireland?

You can become an accountant in Ireland by pursuing qualifications such as ACCA Ireland or Institute of Chartered Accountants of Ireland programs. These certificates offer a clear pathway to a

Is Ireland an appropriate place for overseas students pursuing business studies?

Absolutely! Ireland is well-known for its hospitable culture, world-class education system, and internationally acclaimed business programs. It exposes international students to a variety of cultures and offers possibilities for networking.

What are my job possibilities after studying business in Ireland?

Ireland’s flourishing economy and the presence of major corporations like Google, Apple, and Facebook provide excellent job opportunities for business graduates. Popular professional paths include banking, marketing, consulting, and entrepreneurship.

How much does it cost to study business in Ireland?

The fee varies according to the institution and program. Tuition expenses for international students often range differently for different programs. Scholarships and financial aid are available to help with expenses.

Are there any internship options for business students in Ireland?

Yes, many Irish colleges have links with multinational firms that provide students with internship possibilities. These internships offer practical experience and can lead to full-time work following graduation.
February 7, 2025
What Kind of Calculator Can You Use for ACCA Exams In Ireland?
The Association of Standard Chartered Accountants exams are well-known for their proficiency in examining candidates’ accounting and critical thinking skills. For students in Ireland and elsewhere, significant preparation is required to excel. The ACCA calculator is another important device for the exam. This guide will teach you all things you need to know about using a calculator during ACCA exams in Ireland.

What Type of Calculator Can You Use for ACCA Exams in Ireland?

There are specific guidelines for using calculators during the ACCA exams. These guidelines are marked by the Association of Standard Chartered Accountants. Here are the types of calculators you can use in the exams.

Only non-programmable calculators

ACCA allows non-programmable calculators. This restriction is to prevent the use of devices with memory storage, internet connectivity, or advanced programming features in the calculator.

Read More https://mirchawala.com/blogs/what-are-the-best-mba-options-for-acca-students-in-ireland/

No Graphical Calculator

Calculators with advanced graphical features are strictly prohibited. Why? Because these calculators can plot graphs and perform advanced calculus. These devices have enough advanced features that can give unfair advantages to the students.

Basic Calculator

Basic calculators are acceptable as they do not have any sort of programmable feature. They are best for simple arithmetic functions such as addition and subtraction.

Scientific Calculator

Scientific calculators are useful for more complex calculations, such as statistical equations, trigonometric functions, and logarithms. Many ACCA candidates prefer scientific calculators because they can perform complex finance-related equations.

Factors to consider before choosing a calculator

Here are a few guidelines provided by ACCA. Students can keep that in mind with how many types of calculators are allowed.

Avoid Multifunctional Devices/ Calculator

Keep away from buying multipurpose devices. Devices that combine calculators with other tools such as smart watches and tablets are not allowed in the examination halls. So, do not buy such devices.

Consult with ACCA or Exam Center

If you are confused about which model to buy, contact ACCA or the exam center to know which calculator they can verify. This will give more clarity to you before buying any model.

Read More https://mirchawala.com/blogs/the-future-of-cash-flow-management-a-technological-perspective/

Check the specifications of the device calculator before buying

Look for the following features before purchasing a calculator; here are the factors that should be ticked.
- Basic scientific calculator
- No memory or text storage calculator.
- Non-programmable
- Multipurpose devices such as smart watches linked with calculators.
Popular Calculator Models for the ACCA Exam

While ACCA does not publish a precise list of authorized calculators, the following models are frequently recognized by ACCA candidates and comply with the guidelines:
- Casio FX 82MS
- Casio FX-85GT Plus,
- Sharp EL-W531,
- Canon F-715SG.
These devices are basic scientific calculators that comply with ACCA regulations. They provide adequate functionality for financial and accounting calculations while avoiding banned features.

Which subject exams need a Calculator

Not all ACCA tests require a calculator, but many of the primary subjects include numerical calculation, making ACCA calculators important. Below are the subjects.

Applied Skill Level

In performance management (PM), a scientific calculator is required to calculate variances, ratios, and costs. Financial translations, financial ratios, and cost projections are all part of financial reporting (FR). Audit and assurance (AA) has few uses for numerical data analysis. Financial management (FM) is essential for discounting cash flows, IRR, and NPV calculations.

Strategic Professional Level

Advanced Performance Management (APM) entails evaluating performance indicators and doing statistical analyses. Strategic business reporting (SBR) may necessitate simple financial calculations.

Optional subjects

Taxation (TX) is essential for calculating taxable income, VAT, and other tax-related data.

Advanced Taxation (ATX) expands on TX by requiring a calculator for more complex tax computations.

Read More https://mirchawala.com/blogs/what-are-the-requirements-for-international-students-for-acca-in-ireland/

How Calculators Help with Exams

Calculators are highly useful during exams and in ACCA as well. It will give answers with more accuracy and precision. Below are a few ways calculators can help you.
- Save precious time
Saving time on calculation during exams allows you to focus on understanding and analyzing exam scenarios. Moreover, enough time is saved for solving other exam portions. Time-saving during exams is critical and important at the same time.
- Reduce Errors
Calculators limit the chance of blunders, ensuring precision and accurate answers.There is probability that manual calculations do generate errors and mistakes.
- Help in fast calculation
A calculator speeds up calculation with accurate answers.ACCA exams frequently involve complicated calculations including tax percentages, financial ratios, and currency conversions.
- Enable Focus on Strategy
With the mechanical chore of number crunching assigned to a calculator, you can focus on analyzing the data and applying them strategically.
- Saves you from mental math
A calculator can save you from doing calculations in your own mind. This can save you enough energy and you can calmly focus on the exam without panicking.

Conclusion

It’s a compulsion to use a calculator during ACCA exams. It not only helps students in calculation but it can save a major portion of their time in exams. Moreover, the guidelines given by ACCA for using calculators should be kept in mind by students. So, during exams using ACCA calculators they will not find their self doing guideline violation. However students can buy best suited calculator models.

Frequently asked question(FAQs)

Can I use a programmable calculator in the examination hall for ACCA?

No, programmable calculators are strictly prohibited, Only non-programmable and basic scientific calculators are allowed.

Can I use a graphical calculator during ACCA exams?

No, graphical ACCA calculators are not allowed in ACCA exam requirements.

How can I be sure my calculator fit in with ACCA rules?

Choose a calculator that is not programmable and does not have additional features like text storage or internet access. Casio FX-82MS is a reliable choice.By following these rules and selecting the appropriate calculator, you will be well-prepared for your ACCA exams.

Are calculators provided during the exam?

No, Calculators are not given by exam centres; you must bring your own ACCA calculator.

Do all ACCA exams require a calculator?

No, although numerical analysis papers like taxation and Financial Management need calculators.
February 7, 2025