Graduation degrees touch the surface of the ocean, and they dive into it up to a certain extent only.
But students always want to explore more and dive deeper to gain more knowledge and specialized skills in any given field.
We live in a world that reflects technical prowess and revolves around it. It's a world where specialized skills gain traction, and generalized skill or knowledge can only seek minimal growth opportunities.
In the field of accountancy, candidates can explore several specialization courses. It will help them to have a specialized hand in this number-crunching field.
ACCA or Association of Chartered Certified Accountants is one of the world's leading professional bodies for accountants. It has its headquarters in the United Kingdom.
The renowned body offers the ACCA qualification that allows students to earn a Certified Chartered Accountant Status and a membership with the ACCA.
As an ACCA member, students can acquire relevant accounting skills and network with renowned professionals in the accounting field.
By pursuing ACCA, students get to improve their professional repertoire and enjoy dynamic career advantages.
ACCA propels student's career towards growth. However, it requires dedicated effort, time, and financial investment.
Hence, students should pursue this course only after assessing the need for the course or the level of contribution that ACCA can have in their career path.
Why should students pursue ACCA?
ACCA is a recognized professional course on the global stage. It helps the students to gain specialized knowledge that invites enormous success and recognition globally.
Students should pursue ACCA for the following reasons:
- ACCA members can work in over 80 globally recognized markets. It gives a considerable advantage to students to seek growth in this field.
- Members also enjoy strategic partnerships with over 80 internationally acclaimed accountancy bodies.
- Student's credibility and proficiency are tested over 14 rigorously designed exams. It gives them an edge over other students and hands them growth opportunities.
- ACCA has a well-designed curriculum that focuses on industry standards across the globe. It divulges into industry-oriented knowledge, skills, and professionalism.
- The professional course ensures a long-term career for the students as it helps them acquire strategic roles at managerial levels of renowned companies worldwide.
- The total cost of pursuing ACCA in India varies around Rs. 3 to Rs. 4 lakhs. It also enjoys a 40% to 50% success rate that acts as a huge motivating factor.
Apart from the lucrative growth opportunities for students, they will also get employed in exciting accounting roles. These are:
- Internal Auditor
- Management Accountant
- Forensic Accountant
- Tax Accountant
- Credit Control Manager
After pursuing ACCA, the average package can range between Rs. 7 lakh to Rs. 8 lakh per annum. Students can get placed in Big 4 accounting firms and other top MNCs in the world.
ACCA is a course that will make students proficient in a field that involves numbers, and rules and specifications on how to manage it.
ACCA Course Duration:
Students get a maximum of 7 years to complete the course, but the average duration for completing ACCA is 4 to 5 years.
The course can be pursued full-time or on a part-time basis while working or pursuing a graduate degree.
Most of the students try to pursue the course while doing their graduation. Given the ACCA course duration, it gives students an advantage to follow it with their degree as it will save valuable time.
Some students also go for the ACCA course after graduation. However, many students face the problem that puts them in a dilemma about whether they should pursue the ACCA course with their degree or after it.
The below section answers the daunting question for all students inclined towards this field and wants to do wonders with number management.
ACCA: Should you pursue it after your degree or with it?
The answer to the above question lies in the student's ability and foresight to pursue a particular graduate degree.
If the students possess the willingness and calibre to do multiple things, they can go for professional courses, such as ACCA, with their degree.
In India, students inclined towards the field of accounting go for Bachelor of Commerce (B.Com). It's a course that introduces students to the intricacies of this dynamic field.
Students get a golden opportunity to pursue other professional courses while pursuing B.Com because, unlike other graduation courses, it requires less effort and energy.
Apart from B.Com, ACCA can be pursued with other graduate degrees as it doesn't have any specific requirement.
To answer this question in a more detailed manner, students can go through the advantages and disadvantages of pursuing an ACCA course with or after a degree.
Advantages of Pursuing ACCA with a Degree:
Following are the reasons why students should consider pursuing ACCA with a degree:
- The average ACCA course duration is 4 to 5 years, and if students pursue it with their degree, they will be able to complete it in 1 or 2 years after their graduation. Thus, saving some crucial time for the students.
- Doing ACCA during their graduation will help the students to know whether the course will suit their career path or not. They can quickly discontinue the course with valuable time in hand.
- Pursuing B.Com from a reputable university can help the candidate earn an exemption in a few ACCA papers.
- Many colleges and universities provide specialized ACCA classes and help them prepare for the course.
- It increases the employability opportunities for students as companies can hire them by providing lucrative offers. They can also occupy top positions in that company after completing their ACCA.
Disadvantages of Pursuing ACCA with a Degree:
The only disadvantage of not studying ACCA subjects after graduation is that students will have to bear the academic pressure of both their degree and the professional course.
As mentioned above, to pursue ACCA with a degree, students need to have the calibre to comply with the requirements of multiple things.
Advantages of Pursuing ACCA Course after Graduation:
Following are the advantages of studying ACCA subjects after graduation:
- After graduation, pursuing ACCA subjects is a viable option for students who want to focus and comply with their graduation degree requirements.
- It gives students time to explore and research various career opportunities; thus, preventing them from the compulsion to rush.
- Students can go for a job and then pursue the course if the need be. It gives them flexible options to select from.
Disadvantages of Pursuing ACCA Course after Graduation:
Following are the disadvantages of pursuing ACCA course after graduation:
- Students might end up spending 8 to 9 years while completing their ACCA degree. As the average period for completing ACCA will add to their graduation years.
- If the students decide to discontinue the course, they will waste time on a course that didn't help their career path.
ACCA is a globally recognized professional course, and pursuing it can give students an added advantage over their peers.
Before deciding to pursue it with or after a degree, students should assess their compatibility, calibre, and requirements and then go ahead with it.
The burden of pursuing ACCA should not reflect on the student's performance in their graduation degree.
Hence, they should measure all possibilities and then go ahead with pursuing ACCA.