Why take ACCA instead of other accounting degrees?
ACCA and other accounting degrees:
ACCA is an official accounting body that is set in the UK. It is one of the most sought after courses and has 500,000 students and 200,000 members. There are three key elements one must look into:
Exams: Students have to clear 13 papers. Students who have graduated will be exempted from Applied Knowledge level papers and will have direct access to the Applied Skills level. The exemptions will depend on the educational qualification of students.
Work Experience: Students are required to have three years of relevant work experience in order to be eligible for ACCA.
Professionals Ethics Module: The last step before being eligible for ACCA is that a student has to pass the ACCA professional ethics module.
Being ACCA qualified will provide students with various advantages:
- Be a member of an elite accounting body
- Have a better job opportunity to the major companies around the globe especially if you have passed the Professional Ethics Module.
- Obtain career support throughout your professional life.
Students also have the option of looking into basic accounting degrees if they wish to enter the accounting domain. There are basically two categories one can look into -
Bachelor’s degree in accounting — An undergraduate degree that is widely offered by universities across the globe and has a course completion period of three to four years. Bachelor of Accountancy (BAC), Bachelor of Business Administration in Accounting (BBA) and Bachelor in Science and Accounting (BSACC) are the most common bachelor degrees.
Masters degree in Accounting — The ideal step for students to pursue once they have completed their Bachelors Degree. They are usually one to two-year courses.
As mentioned earlier the ACCA course is divided into three:
- Applied Knowledge
- Applied Skills
- Essential Skills
- Optional Paper
To know about the ideal optional paper to look into click here.
Whereas with accounting degrees students will have to study compulsory or elective modules. You can pick and choose electives based on your personal interests of preferences.
What is the level of difficulty?
ACCA has varying levels of difficulty. ACCA more that the course difficulty is a course that is vast and requires a fair share of dedication and perseverance. But it is much preferred as students can choose the paper they want to write and there is no group system unlike CA or other such courses. Watch this video to know more about the course, Eligibility criteria, what it entails and what is expected from a student. If you manage to get into an institution with renowned set of faculty, then you can crack ACCA under their mentor-ship. Lakshya is one such partner institution with historic pass rates. Their rigorous coaching and systematic learning methods help students cover vast portions in short time.
Career trajectory
ACCA is a great career path to choose for those who are passionate about the field of Accounting. The venues and arenas that are opened are vast. Accountants have the option of looking into market research, real estate and investment banking. With just an accounting degree the job opportunities will be limited to entry-level jobs. With a degree like ACCA students have a brighter avenue open for them where they can climb up the corporate ladder with ease.
