You want to be an accountant. You love numbers, maths and money. So, how do you get started? Where do
you go to get certified so that your services will be in demand? If you do not have any recognised qualifications, your clients will not be able
to know if your standards meet their requirements. People hire Chartered Certified Accountants with a full
practising certificate because they know that they can trust in their expertise.
Any old accountancy certification will not do. You need an internationally recognised global qualification to compete in today’s industry, and the ACCA
qualification fits this demand perfectly. The Association of Chartered Certified Accountants (ACCA) is the
world’s largest international accountancy body, with over 300,000 members and students in more than 160 countries. Founded
in 1904, ACCA has over 100 years of history as a leader in the development of the global
accountancy profession. The United Nations has chosen the ACCA syllabus as the basis of its global accountancy
curriculum and the ACCA qualification is well recognised in an ever-growing list of countries including the USA, Canada, the United
Kingdom, the European Union, Australia, New Zealand, South Africa, China, Singapore, Malaysia and Pakistan. Many ACCA graduates
work in premier companies such as British Airways and Price Waterhouse Coopers.
The syllabus spans 16 topics each
with its own examination to test your competency in that subject. It usually takes 2 years for a student to obtain the ACCA
qualification. This is broken up into the "Fundamentals" stage that consists of 9 papers and the "Professional"
stage that consists of 3 papers and a choice of 4 options. With so many examinations to pass, self-study can be difficult.
The good news is that there are many professional accounting and finance schools such as FTMS Global that offer ACCA courses. The better ones have a cast of highly qualified and experienced lecturers who are ACCA-certified.
These teachers know what the ACCA syllabus requires and can dramatically increase your chances of passing the examinations.
Definitely, it is highly recommended to enlist the aid of a mentor who can show you the ropes.
After qualifying
as a Chartered Certified Accountant by passing the examinations, to obtain the practising certificate you
must have had sufficient experience in a practising accountant’s office. On top of all that, you must continue to keep
yourself updated by attending courses on a regular basis. The ACCA is the only accountancy body that provides a disciplinary
system which offers remedy if any ACCA member breaches its high standards.
Once you obtain the ACCA certification,
your clients know with certainty that they can depend on:
- Your integrity
- Your absolute respect
for the confidentiality of your client’s affairs
- Your knowledge and expertise
- The fact that
there is a regulatory body who will ensure that standards are maintained
- The fact that you must operate within
a strict framework of rules and ethics
The entry requirements of the ACCA qualification are 2 A-Level passes or
a bachelor's degree from a recognised university. If you do not meet this requirement, you may opt to go for the open-entry
route by taking the Certified Accounting Technician (CAT) qualification first. Upon completion of the CAT
course, you may progress to take the ACCA qualification.
As an ACCA graduate, you can look forward to rewarding
accounting career in a variety of fields such as accountancy, auditing, financial management, taxation, business development and management.
Numerous opportunities will be available to you, whether you choose to work in a small practice, run your own company or lead
a large multinational organisation. Indeed, ACCA graduates are in high demand worldwide.
So, if you are looking
to start a career in accounting, you might as well do it right. Be internationally recognised and sought after, and you will
do well wherever you may be.
Accountants play a critical role in a company's many financial facets. In general, they balance books,
record costs and profits, execute payroll, pay taxes and bills, and issue financial statements to outside organizations. Although
these may appear to be straightforward tasks, accountants are required to be well-versed in protocol and regulations to avoid
scandal, which results in costly fines and marred reputations. However, the accounting industry is drawing a breath of fresh
air after exchanging paper spitting calculators and ledger sheets for advanced accounting software. Career Accountants now
have the opportunity to wear the consulting hat, spending less time crunching numbers and more time serving as financial vernacular
translators for the management sector.
This new hat also comes with a whole new outfit. Employers now seek Accounting
applicants that are not only math and detail-oriented, but possess analytical thinking skills that lend them to spot and solve
problems. Still, even the best solutions are worthless if they cannot be communicated to a member that can implement it. Therefore,
strong written and verbal communication skills are important qualifications for the modern accounting position. A bachelor's
degree in finance, business, or management of information systems (MIS) is considered suitable training by employers for the technical, analytical, and
communication skills necessary to succeed in entry-level positions. The American Institute of Certified Public Accountants,
however, requires 150 hours of university education, thirty hours more than a typical four-year degree, before qualifying
to take the CPA exam. For those embarking on the internal auditing and management accounting career path, there is the Internal Auditors or the Institute of Management Accountants, which issue certifications required by some employers.
Qualifications for bookkeeping positions are much more lax, offering positions to high school graduates, associate degree
holders, or people with a degree in an unrelated field. Notably, these positions are often more tedious and offer less compensation.
Optimistically speaking, there are several accounting career tracks in the industry that highlight a wide range of interests and accountant training: public accounting, in-house accounting,
internal auditors, management accountants, government accountants, bookkeepers and auditing clerks, and independent. Public
Accountants prepare a company's tax statements and external auditing, which make financial records available to the government and the public. These accountants enjoy the flexibility of their work because their skills are
needed by small and big firms alike. In-House Accountants set budgets, manage assets and payroll, track payments, and handle
other financial matters. Internal Auditors and Management Accountants assume a more internal function by checking accounting
systems for clerical errors, enforcing regulations, streamlining processes, advising on critical decisions and strategy planning.
Government Accountants are financial disciplinarians that collect revenue and see that it is spent in accordance with the
law. Bookkeepers and Auditing Clerks perform the task of inputting data into the company's financial record keeping system.
However, once you've earned your CPA, the allure of becoming an entrepreneur gains strength since many businesses are
willing to arrange for advising sessions and tax return work on a contract basis.
Regardless of the position, a
career in accounting offers many opportunities to move up after getting that foot into the door, and right now the door is
open. After a series of industry scandals, companies are eagerly seeking ethical applicants to fill forensic positions in
order to reestablish their clients' faith. The public accounting sector also has many available positions in auditing
and taxes. These Accounting Career opportunities are primarily situated in the health care and manufacturing industries, but
the Big Four Accounting Firms (Deloitte Touche Tohmatsu, Ernst & Young, KPMG, and PricewaterhouseCoopers) are always looking
for bright-eyed youngsters to fill menial positions in exchange for a big name to print on a resume.
The Big Four
Accounting Firms offer a far from shabby starting salary in the mid $30,000s to $40,000 for entry-level accounting employees
who quickly move up to the mid $40,000 to high $50,000 upon reaching seniority status. Management Accountants earn $60,000
to mid $70,000 a year and partners generally make more than $120,000. Although smaller firms may offer slightly lower wages,
salaries in general are projected to continue rising in the industry over the next few years.
