Have You Qualified ACCA Exam?  What’s Next? 

The ACCA exam June 2024 results are out! Several students achieved scores, while others could not qualify. This blog is crafted for those who have passed the exam and are confused about what to do next. 

First of all, congratulations! You have successfully qualified for all the ACCA papers. 

Are you aware of the opportunities awaiting you because you have qualified for the ACCA exam?

As we know that ACCA is the most respected and well-recognized accounting degree in the world. Earning an ACCA qualification opens up a world of opportunities and provides a solid foundation for a rewarding professional life.

While ACCA holds a great reputation and has low passing rates, the world still demands more from everyone. In the past, finishing your ACCA course would have been a reason for celebration. But these days, it is becoming just another task on the list. 

You have successfully passed the ACCA exam after all your hard work, study, practice, and preparation. But what’s next now? Let us begin by posing some important questions to you in order to effectively analyze your options:

• For you, what do the next ten years hold?

Gaining an ACCA allows you to enter several new areas. You can now decide whether to create your own firm or to keep going after more difficult examinations like the CFA. You might even think of yourself as an advisor. 

• Which areas interest you?

It goes beyond just your available choices. It’s more about the possibilities that pique your curiosity. Have you tried to learn more about the options you now have? Which one appeals to you the most?

• Is your only hope in finance?

After you pass this exam, you will undoubtedly have some fascinating possibilities when it comes to finance. But you might even think about a career in law. You might, however, also think about a career in management or perhaps law. 

Maintain Your Academic pursuits.

• MSC or MBA

Getting a master’s degree could be your passport to success if you want to get to the top. A job as a chief financial officer or senior financial analyst is likely to come your way if you have an MBA, which focuses more on business-related topics.

An MSC, on the other hand, covers more science, math, and technology. Which option you select will depend on your interests and skill set. Both can lead to management or analyst careers. Some universities even provide degrees that integrate accounting and law.

Just remember that before going to the next level, you should ideally have a few years of professional experience.

• CFA

Yes, following ACCA, you can pursue CFA! For many accountants who have finished an ACCA course, becoming a chartered financial analyst is a standard qualification that is recognized throughout the world. Those with a CFA certification may find employment in corporate banking, asset management, risk management, and consulting.

Take up self-employment.

One of the best things about working in accounting is that you can set your own hours. If you have an ACCA qualification, sufficient experience, and self-assurance, you can operate independently in a variety of global sectors. Visit our blog to learn more about becoming a self-employed accountant.

Jobs in the industry

Accountants are in high demand, and once certified, you can choose the organization and position you want to work for. After all, a variety of enterprises require the expertise of finance specialists. An associate or accounts clerk typically makes about £23,000 a year. Additionally, you might make up to £90,000 a year with three to five years of expertise. With an ACCA qualification, you may be able to obtain the following positions:

• Auditor: An auditor verifies and looks over an organization’s operational and financial records. Typically, auditors establish their own small or medium-sized practice (SMP) or work for major accounting companies.

• Taxation Specialist: A taxation specialist’s main responsibility is to advise clients on local and international tax legislation. They are also in charge of helping companies fulfill their tax obligations.
• Management Consultant: By providing unbiased counsel to an organization’s management, experts in management consulting assist companies in enhancing performance. 

• Financial Manager: Financial managers oversee many departments within an organization’s finance division, including management accounting, financial accounting, and financial analysis.

• Financial Accountant: Using cash flow and balance sheets as a guide, financial accountants analyze financial data. They are also in charge of drafting the company’s financial accounts for creditors, shareholders, and regulatory bodies.

• Corporate Treasurer: Making sure that businesses have the money to pay their debts is the corporate treasurer’s main duty. They also provide advice on investment opportunities and help shape financial policies and strategies.

• Forensic accountant: In forensic accounting, the financial reports and statements of an organization are examined to identify and assess the likelihood and severity of fraudulent conduct. Accounting, auditing, and investigation skills are used in this process.

• Financial Cyber Security Expert: To identify, stop, and handle cyberattacks and safeguard a company’s financial information, experts in financial cyber security employ a variety of tools and procedures. Graduates of ACCA programs can pursue a variety of careers as technology and banking risk specialists.

• Education and Training: Experienced accountants may prepare the next generation of accountants for a career in accounting and finance by drawing on their knowledge, credentials, abilities, and life experiences.

There is a huge window of opportunity once you qualify the ACCA exams. Other sectors with plenty of prospects for ACCA graduates include financial planning and modeling for start-ups, innovation in accounting and financial software development, and management in not-for-profit organizations and trusts.

You will have complete recognition in 179 operating countries as an ACCA member by adding the initials to your name. To advance your abilities, you’ll also have access to a variety of CPD (continuous professional development) resources.