Aditya was bonding with his father over a cup of morning tea and newspaper. While Aditya was in a relaxed mood, his father seemed worried. Unable to control his anxiety, he asked Aditya-“Son, now that your education is complete, what about a better job? Will you easily get one?”. Aditya, who had recently got his ACCA certification, seemed confident and comforted his father with a smile. While it is very natural for parents to be concerned, Aditya had done his background research about ACCA, hence saw nothing worrisome. He assured his father that ACCA is one of the most sought-after qualifications in India today, and he was getting good offers from leading MNCs. His father heaved a sigh of relief and sipped the tea.
Yes, Aditya is right. The ACCA promises you an exciting career in finance which not only rewards you well but also brings respect to a globally accredited professional. Candidates pursuing ACCA can work in a plethora of roles across different industries and types of firms. As global trade barriers are getting fuzzier by the day, India has a huge demand for accounting professionals with superlative standards.
3 reasons why ACCA is the next big thing in India:
- Most of the ACCA qualified professionals in India are employed with the Big 4s or MNCs. Employers in India have now become aware of ACCA qualification and are hiring them eagerly. The growing branches of the Big 4 and MNCs is a big reason why ACCA members are widely preferred in the accounting roles.
- With the presence of many financial KPOs in India, India has become a major outsourcing hub for accounting and financial functions and ACCA qualified professionals are highly preferred by these employers.
- India is taking another step closer towards globalization by introducing IND-AS drafted on principles similar to IFRS. ACCA covers IFRS broadly in its syllabus which would definitely give an edge to ACCA members in India.
Let us look at some of the profiles that ACCA members in India can opt for:
It is to be noted that presently in India, ACCA members who aren’t Chartered Accounts, do not have the authority to sign the books of accounts as an Auditor. They can work in Audit teams though. The authority to sign is still statutorily reserved for members of the ICAI.
One of the biggest advantages of the ACCA Qualification is that it allows job mobility. ACCA members are able to move seamlessly between sectors and into new roles, which also includes finding fresh opportunities within their existing organisations.
Employers and salary
Main employers in India for ACCA are Price Waterhouse Coopers, Earnest and young, Deloitte, KPMG, TATA Communications, Embassy Group, Grant Thornton, etc. ACCA salary in India is equivalent to a CA. The average salary of ACCA for a fresher in India is Rs.5.0 lacs p.a to Rs 6.0 lacs p.a. It may also be higher once the candidate is more skilled and experienced.
ACCA members to be highly preferred in India in future
One of the biggest reason why ACCA professionals are so preferred in India is that of the in-depth curriculum. It’s not just about studying and exams. To be an ACCA member one has to complete three years of relevant experience which ensures that the candidate already has exposure to various nuances of the profile. Moreover, leading recruiters state that having a professional qualification is imperative for employers to judge each candidate. A global degree like ACCA not only shows passion and drive but also gives a sound indication of excellent accounting skills and experience.