Is ACCA worth it? Find the Actual Answer with Key Advantages & Disadvantages
Is ACCA worth it? Should I go for ACCA exam? Get all your answers here!
ACCA is the Association of Chartered Certified Accountants. Three things are referred to as ACCA: the institute, the course, and the recognition. It is the highest level of organisation for accountants worldwide. The phrase “ACCA is the father of all accounting bodies in the world” is acceptable. Therefore, it is unquestionably a step above Chartered Accountants in India or Certified Public Accountants in the United States. It gains a higher reputation globally as a result.
The experts in accounting are ACCA. They are the top individuals in the world in accounting. Therefore, the ACCA covers anything related to accounting, wherever it is in the world. With barely 40% of candidates passing it on their first try, it has a reputation for being one of the most difficult certification exams available. Here is a list of advantages and disadvantages that may help you decide is ACCA worth it?
- Firm understanding of financial accounting and auditing.
The ACCA curriculum includes topics including auditing, corporate law, and financial accounting. You will have a far better understanding of the financial and accounting side of the firm than merely the marketing side if you choose to pursue an ACCA.
2. Broaden your access to global opportunities.
Employers in the investment banking, management consulting, and equity research industries will be looking for graduates. Obtaining your ACCA can create a lot of options for you if you want to work in international accounting, as those opportunities would not have existed otherwise. An ACCA degree can be a big plus if you’re looking for a career in international finance.
3. Increased payout
In the business sector, accountants who have earned an ACCA certification are highly appreciated and sought-after employees. Possible employers can see that you are committed to an accounting career and capable of expert-level work if you have your ACCA.
Because you will have far greater odds of landing a high-paying job than accountants without your qualification, this makes you a desirable prospect in the job market.
4. An extensive syllabus
The ACCA course material is vast. Financial accounting, management accounting, financial audit, operational performance, new-age digital skills on data analytics, blockchain, and the application of accounting in decision-making are all covered.
Since you have to study a variety of courses, completing the ACCA will make you feel like you have learned a great deal and have acquired a wealth of knowledge that you can use in practical settings. Although the exam is quite difficult, the benefits are great if you are committed to studying.
- Better career opportunities
The ACCA is a flexible credential that opens up a variety of professional options for you. As many organisations seek accountants with comprehensive industry knowledge and the ability to handle a variety of jobs, ACCA holders have access to a wide range of prospects.
A profession in financial management, financial auditing, international accounting, taxation, etc. is one of many that ACCA holders can pursue.
Depending on the sector of the industry you want to work in, there are several different ACCA exam types that you can take.
- Industry and peer networking
You will never travel alone because of ACCA’s lifetime support and networking, a special perk. All aspirant financial professionals are supported by ACCA’s extensive worldwide member infrastructure once they are certified.
Your peers in this group will also be able to support and assist you. ACCA members are a group of like-minded professionals who can support you, especially if you’re planning to change careers or apply for opportunities abroad.
Disadvantages of ACCA
While ACCA is an excellent option for a flourishing career in accounting, there are a few disadvantages as well.
1. Tough exams
The exam is known for being extremely difficult, as was previously noted, which may discourage some candidates. It’s also important to remember that even though the pass percentage is rising, the exam is still among the most difficult. However, this is not improbable. You can overcome it if you work hard and are completely committed.
2. The cost of the exam
The cost of the course will range from 1,470.99 pounds (GBP 1,500) to 2,800.99 pounds if you choose to enrol in the ACCA Full-Time programme. Even though this exam isn’t expensive, it should be taken into account while determining whether the ACCA is worthwhile.
3. Local CA Over ACCA is Recommended
The second preferred qualification for a recruiter is always ACCA. In their nation, CAs from the ICAI, ICAEW, CPA Australia, CPA Canada, and CPA US will always be given preference over ACCA.
In any nation where the local Chartered Accounting Organisation is well-established, ACCA is given second priority. The majority of BIG 4 and regional audit companies prefer to hire interns from regional accounting authority institutes over ACCA. As a result, they have a better probability of obtaining a salary than an ACCA. Because of their brand familiarity and company visibility, CAs are always preferred over ACCAs.
Is ACCA Worth It?
The benefits you could receive from earning your ACCA may make the time and effort required to earn it worthwhile. The ACCA’s international recognition is one of its most important advantages over other accounting certificates. Other accounting credentials, on the other hand, are only accepted in the nation where they are presented. International employment for accountants may become more challenging as a result.
Consider earning your ACCA if you’re interested in pursuing a career in accounting. It is a terrific method to establish a strong financial and auditing accounting foundation that will result in greater earnings and better career prospects.
Conclusion: Should you pursue ACCA?
ACCA is recognised globally and has the potential to open up great work opportunities and better income. All in all, the answer to is ACCA worth it is positive. Consider pursuing ACCA if you have an interest in accounting, it will help you land a job with a solid industry position and competitive pay. Contact us if you want to learn more about ACCA course, is ACCA worth it? We provide thorough ACCA instruction to enable you to ace your ACCA exam in one attempt.