Unlocking the Value of ACCA Qualification in 2024 - Zell

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      How Valuable Will The ACCA Qualification In 2024?

      Last Update On 31st March 2024
      Duration: 8 Mins Read

      What is ACCA?

      If you always wanted to have a career in finance, this is the right time to achieve a professional certification course of ACCA. The Association of Certified Chartered Accountants (ACCA) is based in the UK but has a global presence in over 180 countries. With about 2,00,000 ACCA members, the association has more than 6,00,000 registered students as of now. In this blog we will explore the value of ACCA qualification in 2024.

      ACCA offers in-depth accounting knowledge along with strategic and professional skills to the candidates for gaining a prosperous career in top-notch multinational companies. There are three levels that the candidates must clear to complete the entire curriculum. Also, ACCA asks for a work experience of 36 months in a relevant field for you to attain the ACCA certification

      So, are you eligible to pursue ACCA? 

      If you have passed Class 12th with an aggregate of 65% in Accountancy, Mathematics, and English along with an overall aggregate of 50%, you are eligible to pursue ACCA. While Class 12th is the minimum eligibility for ACCA, you can even start the course afterward such as after completing B.Com, M.Com, or even CA. In fact, it is a great idea to complete your higher degrees as it will fetch you exam exemptions in ACCA. You can enjoy a minimum of 4 and a maximum of 9 exam exemptions in ACCA, depending upon the educational qualifications that you have. 

      Passing the ACCA exams is a challenging task in the absence of proper preparation, guidance, and strategies. So, why are candidates ready to take the challenge of appearing in the ACCA exams? ACCA offers so many professional benefits that you will come across ahead. 

      What Are The Professional Benefits of ACCA?

      Most candidates pursue ACCA to attain its professional benefits. This is one of the prime reasons why today even CA pass candidates are eager to pursue the ACCA course and add the ACCA certification to their resume. 

      Career Opportunities with ACCA

      Most multinational companies such as Deloitte, Accenture, and many more today look out for ACCA candidates for their accounting excellence and professional skills. If you are an ACCA member, you are sure to achieve the finest career opportunities in accounting and finance

      Diverse Roles and Sectors:

      ACCA community members seek job opportunities in several sectors such as the public practice sector, financial services sector, public sector, and corporate sector. 

      In these many sectors, ACCA-certified candidates perform diverse roles. Some of the examples of roles and responsibilities that ACCA members perform are:

      • Audit/Assurance trainee
      • Tax consultant
      • Business Advisor
      • Forensic Accountant
      • Financial Analyst
      • Risk Manager
      • Fund Accountant
      • Corporate Financier
      • Finance Manager
      • Internal Auditor
      • Management Accountant
      • Financial Accountant
      • Business Analyst
      • Group Accountant

      Geographic Mobility and International Recognition:

      One of the highlights of ACCA is that it is globally recognized. ACCA is available in more than 180 countries worldwide. The association offers the ACCA course in the online form so that the candidates can take the course from anywhere in the world. After completing the course, ACCA members have the opportunity to work in world-renowned multinational companies like Deloitte, PwC, and Accenture. 

      ACCA allows you to work in multinational companies in your country and also to move out to other countries. Thus, most candidates today attempt the ACCA course to get global exposure and enhance their lives. 

      Comparative Advantage in the Job Market

      ACCA-certified candidates always enjoy a competitive edge over other candidates who do not have ACCA qualifications. Several ACCA features and factors are the reasons why the ACCA community members have several advantages. 

      ACCA vs. Other Financial Qualifications

      ACCA is considered one of the best choices for accounting candidates because it trains candidates in broader skill areas. Usually, different financial qualifications have different purposes. For example, CFA trains candidates in Financial Analysis and CIMA is all about management accountancy. However, when you pursue ACCA, you get to learn several accounting skills such as taxation, management accounting, financial accounting, and many more. 

      Another feature that makes ACCA different from other financial qualifications is its flexibility. The ACCA association offers flexibility in learning and exams because it conducts examinations four different times a year. 

      Recognition by Employers

      Major multinational companies recognize ACCA members as the best choice for their firms. According to these firms, ACCA candidates are adaptive because the association offers a course that is globally recognized. Also, most companies consider ACCA candidates because of their in-depth accounting knowledge and professional skills such as leadership, communication, and management which are a necessity in the corporate world. 

      Salary and Growth Prospects for ACCA Members

      While some candidates get attracted to the ACCA course because of its global recognition, some others pursue ACCA because of the handsome salary package that it offers. 

      Statistical Data on Salary Scales

      ACCA-qualified members tend to earn about 70% higher than usual commerce graduates. To be precise, according to Glassdoor, the starting salary of ACCA candidates remains between Rs. 4 lacs to 14 lacs per annum which can go up to Rs. 50 lacs per annum or even more with experience and time. 

      Career Trajectory Examples

      There can be several ACCA career paths on which the candidates must proceed to attain a flourishing career. To be specific, here is an ACCA career trajectory example to go through. 

      Once you have qualified as an ACCA member with 36 months of work experience in a relevant field, you should start your journey as a Proficient. 

      Soon, you will gain more experience after the qualification and will be able to manage a team alone. This is the time when you will become an Expert and will gain specialization.

      Once you have gained vast experience after being in the Expert role, it is time to take up the role of a Leader. Leaders are those who usually are ready to start their entrepreneurial journey. 

      ACCA qualification in 2024

      Is The Educational Journey of ACCA Difficult?

      ACCA may not be as difficult as accounting courses like the CA. However, the ACCA pass rate is between 40% to 50%. 

      The ACCA Learning Experience

      ACCA offers a convenient learning experience that motivates even working professionals to take this course. Whether you already have a job or you are pursuing degrees like M.Com or CA, you can take up the ACCA course and complete it simultaneously with many issues. 

      Flexible Study Modes

      One factor that makes ACCA convenient is its flexible study modes. You can choose from traditional offline or online learning modes to suit your convenience. If you have opted just to focus on the course, you can go for the offline mode where you have to attend classes. However, working professionals and students from some other courses can opt for the online mode so that they do not have to compromise their other priorities.  

      Support and Resources

      Enroll yourself with a good mentor such as Zell Education to get ample support and guidance. ACCA offers prescribed study modules and study guides to prepare for the exams. Apart from this, Zell will help you with other resources such as helpful study materials, reference books, and experienced faculty members who will train you with real-life case studies. Also, you will get question banks and mock test papers that you can solve to check your progress. The mentors will help you by offering valuable feedback after every mock test to help you prepare for the exam. 

      Balancing Work and Study

      If you are a working professional and wish to pursue ACCA for a promotion or higher opportunity, you must know how to balance work and study. ACCA allows you to do so with its flexible study mode and exams. However, you must also know how to balance both priorities to achieve results. 

      Time Management Strategies

      Here are some essential strategies that you can use to balance your work and study life and gain better opportunities ahead in life. These time management strategies will help you in the long run too, if you practice them regularly. 

      • Get more productive for any activity that you do.
      • Prioritize your tasks to meet the deadlines and achieve your small set goals.
      • Realize any time-wasting activities that you have been doing and slowly get rid of them.
      • Reduce time that you lose in areas such as inefficient meetings, unwanted phone calls, and others. 
      • Channelize your workload to complete them as soon as possible.
      • Use technologies such as a digital reminder to help you complete each task within time. 

      Success Stories

      There are enough success stories to state how ACCA is the perfect course to join for students who just completed Class 12th and also for people who have jobs in the relevant fields. Check out some amazing success stories at ACCA Global

      Costs and Return on Investment (ROI) of ACCA

      If you are just planning to pursue ACCA, you may get a bit petrified by the cost that is involved in it. However, you must also know the return on investment that you will get after you complete the course. Most ACCA candidates join great job opportunities and climb high the success stairs, getting back more than what they have invested in pursuing the course. 

      Cost of Obtaining the ACCA Qualification

      When you decide to pursue ACCA, check out the cost of obtaining the ACCA qualification. First is the initial registration fee of Rs. 7625. Also, you have to get an annual subscription of Rs. 11,000 that you must renew each year.  

      Exam Fees

      After the ACCA registration, you must pay exam fees at each level. You must pay different exam fees at different ACCA levels:

      ACCA Knowledge Level – Rs. 8243

      ACCA Skills Level – Rs. 10,734

      ACCA Professional Level – Rs. 13,054

      You can get ACCA exam exemptions depending on your educational qualifications. However, you must also pay exemption fees depending upon the exemptions that you are taking. 

      Study Materials and Additional Expenses

      Usually, the ACCA hub offers access to free study materials and modules to the registered candidates. However, you may get help from other reference books, question banks, mock test papers, and mentorships. These additional expenses are necessary because they will help you in cracking the exam. 

      Return on Investment Analysis

      So, now that you have invested in pursuing ACCA, it is time to get back your returns. While you may start with an average job profile, be assured that you will get better returns in the long run. 

      Long-term Financial Benefits

      ACCA-certified students start with an initial pay package that runs between 4 lacs per annum to 14 lacs per annum. However, as you gain experience and polish your skills, the salary package also increases. The company and sector that you join also play an eminent role in increasing your salary package. Payscale has mentioned big brand names like Cipla also pay a salary of Rs. 38 lacs per annum to experienced ACCA candidates. 

      Non-monetary Returns

      While most candidates pursue ACCA to gain a big salary package in the long run, the course also offers several non-monetary returns like a great lifestyle, career growth, and global exposure. Also, the ethics and professional skills that ACCA offers are helpful in personal life too. 

      Conclusion

      A professional certification course is the best option to enhance your career opportunities and boost your salary package. But is ACCA just to increase your package? In fact, ACCA candidates are preferred by most multinational companies in 2024 because the candidates also have professional skills along with accounting skills. ACCA can be a life-changing course that will always add value to your career and life because the association keeps on updating its members with the changing industry trends.

      FAQ

      What is ACCA 10 year rule?
      If you registered for the ACCA course in December 2025, you are eligible for the 10-year rule. According to this rule, you have 10 years to complete the qualification from the registration. However, this rule has changed now. Currently, you do not have time limits on Knowledge and Skills levels. But as soon as you appear for the first exam at the Professional Level, you must complete the whole qualification in 7 years.

      Is ACCA in high demand?
      Most multinational companies like Deloitte, Accenture, PwC, and others prefer to have ACCA candidates recently because of their continuous learning in accounting skills according to the changing industry trends. Also, they choose ACCA candidates over others because ACCA also trains these candidates in ethics and professional skills like communication, leadership, and many more.

      Is ACCA better than CA?
      ACCA is a globally-recognized certification course while CA is just limited to India. CA is focused on Indian accounting, taxation, and finance. However, ACCA trains the candidates according to global finance and accounting standards. Another essential factor that makes ACCA better than CA is that ACCA offers a flexible and convenient study mode and exam mode for the candidates. Thus, ACCA is considered much better than CA based on these many factors.

      Does ACCA have a future?
      ACCA is here to stay. India will have 5000 ACCA jobs in 2023 and this demand will continuously increase with the passing year. The ACCA association keeps its members updated regularly with the new trends that make the ACCA members perfect for multinational companies globally. So, when the ACCA individuals have the caliber to adapt to the changing industry scenario, they will obviously remain in demand in the coming future too.

       

      Partham Barot is an ACCA-certified professional. showcasing his expertise in finance and accountancy. he’s revolutionising education by focusing on practical, real-world skills. Partham’s achievements underscore his commitment to elevating educational standards and empowering the next generation of professionals.

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