Congratulations to all of you for earning the prestigious CA. prefix before your name. It is undoubtedly a great feat to achieve and you must be proud of yourself.
As you celebrate this milestone let us also set a stage for what next? In the wake of globalization and digitization, the future of finance and business appears very dynamic and evolving. Most of the top MNC’s like KPMG, Deloitte, PWC, WIPRO, Coca Cola, etc. are likely to favor professionals who possess futuristic skills in a global environment in their area of work. Courses such as CFA & MBA have been some of the preferred options. CFA is specific to Global Capital markets and MBA requires full-time devotion which means taking a break from existing Job.
One of the most complimenting qualifications in accounting & business which is gaining momentum extensively in India is the ACCA program.
While CA is recognized by The Institute of Chartered Accountants of India (ICAI) across India, a qualification like ACCA has a Global Recognition by students and employers across 179+ countries. Let us understand how the ACCA qualification is the next best career enhancement for Chartered Accountants in India.
Why ACCA after CA?
1. Globalization and Changing World of Chartered Accountants
The 3 most important changes shaping the future are:
- The emergence of digital technology and machine learning in accounting & finance
- Global regulations of business & profession
- Emergence and increase of new global services and assignments.
With complex regulations & compliance getting automated, the skill set demand is shifting, roles and responsibilities as Chartered Accountant are undergoing constant evolution.
2. Futuristic Global Business Leadership Skills and changing Employer Expectations
Since automation and artificial intelligence will soon take over lower-level tasks of report compilation, transaction processing, etc, employers expect employees to empower themselves with an array of skills like:
- Niche senior analytical attitude with skills for interpretation of complex data
- Cross country experience with learning agility
- Developing a portfolio of experiences V/S linear specialized career
More-over employers expect employees to be able to detect and resolve complex business problems issues rather than number crunching and technical expertise. Since lower-level roles are disappearing and professionals are expected to undertake complex leadership and management tasks, ACCA plays an important role in nurturing these futuristic skills through its papers in subjects like Strategic Business Reporting, Strategic Business Leadership.
3. Better Global Jobs and assignments
ACCA helps you with the power of connections globally through their network of employers. You will create endless opportunities for career development with MNCs, Big 4 along with better and bigger global assignments. Over and above, you will enjoy making new connections by working in a different country.
Once you have completed your CA, the main advantage you have with ACCA is the Exemptions. ACCA allows you to skip those papers which you have already mastered. Given that CAs are exempted from 9 out of 13 papers, you must write only 4 papers and can expect to complete the qualification within 6 months.
5. High Pass %
The exam is held every quarter and you have the option to write as many papers as you are adequately prepared. Hence the average passing % as high as 45-50%.
For those who didn’t make it this time:
To all who couldn’t make it this time, there is nothing as failure only a learning experience. Remember efforts always triumph luck. It’s never a dead-end, there’s always a way out. Just hold your confidence up and get going. Two options which you can go for before your next attempt:
1. Crash Course
Registering for the CA Final Crash Course will not only ensure a better grasp on the subjects, but it will also make you aware of the areas that require further improvement JUST at the correct time. Moreover, the course will also expose you to REAL examination pressure that would help you gain confidence and improved performance. Click on www.pinnacleedu.in to know more
2. Take Test Series
When you are preparing for a competitive exam like CA, taking test series is always helpful. Mock tests give you a better view of what type of questions you will have to deal with. It gives you a good idea about which topics require your extra attention and which ones you have already mastered. It also helps you understand how much time each paper takes when you are appearing for the main paper.
You can enroll yourself at any leading institution like Pinnacle Education for Test Series and Crash Course that provide great benefits like doubt clarification, comparative analysis, expert faculty detailed reports of your weakness and strengths, etc.
Those who are contemplating a break or gap from Final CA:
It is very unfortunate that you could not clear your CA exam in the last few attempts we can understand the dismay you must be going through since you have not been able to achieve the desired results. Don’t be harsh on yourself. It’s only a temporary block and not end of the road. You may want to take a breather from Final CA and revisit it again after acquiring other qualifications like ACCA, CFA, IFRS, MBA, etc. These qualifications are accepted at a global level and have a remarkable reputation amongst employers and clients.
For instance, ACCA is considered to be a Global Finance Professional Qualification which is recognized across 179+ countries and has over 2,19,000+ members globally. Since you have cleared your CA Intermediate you will be exempt from 6 papers. With just 7 papers to be written, a committed student can complete this program within 18 months’ time frame. With the flexibility to choose the number of papers you wish to write in each quarter this program gives a high pass % of 45 – 50% and, is a real boon for students wanting to earn a global certificate in finance and accounting.
In conclusion, ACCA stands out to be a prudent option for Chartered Accountants giving you Limitless opportunities in the fast-changing finance world.