article1Mohamed Shafi

Scope and opportunities for ACCA in 2021

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Although 2021 is full of uncertainty, trainees can stay in a good position by improving their skills at the top of the employer's wish list. In 2021, employers need to pay more attention to the combination of technology and cross-skills.

Acquiring the necessary technical skills must be the trainee's priority. These are the non-negotiable prerequisites for the role of accounting. However, employers want a complete package that includes soft and technical skills.

In this guide, we will discuss the job opportunities after ACCA in 2021.

Career opportunities

As you may know, ACCA is one of the world's most prestigious and recognized accounting qualifications. It allows you to do business in 179 countries and earn over 100,000 within five years of qualification. However, where to start with so many options?

Here are some ACCA job roles or careers to help you understand the path you can follow.

Continue your studies

  • MBA or MSC

If you have the ambition to reach the top, earning a master's degree can be your coupon. The MBA focuses more on the business side and may be assigned the role of senior financial analyst or chief financial officer.

On the other hand, MSC covers more mathematics, technology, and science. Both options can lead to a managerial or analyst role, but the choice depends on your interests and skills. Some universities offer a combination of law and accounting degrees. Ideally, it would be best if you had years of work experience to reach this level.  ACCA Training is also essential because qualified accountants use the skills, qualifications, and experience gained during their training and throughout their career.

  • CFA

Yes, you can take the CFA after ACCA. Chartered Financial Analyst status is recognized globally and is a popular qualification for many accountants who have completed the ACCA course. Potential positions for CFA-certified personnel include wealth management, consulting, risk management, and corporate banking.

Become self-employed

The advantage of the role of an accountant is that you can choose a job on your terms. With ACCA qualifications, sufficient experience, and some confidence, you are free to work alone in any industry in the world.

Work in the industry

The demand for accountants is always high, and once qualified, they are free to choose the company and role that suits them. After all, different businesses need financial professionals. The average salary of an assistant or accountant is approximately £23,000 per year. However, with 3 to 5 years of experience, you can earn up to £90,000 a year.

Here are just some of the jobs you could think to get with your ACCA qualification:

Career options
Management Accountant Financial Controller
Finance Manager Chief Financial Officer (CFO)
Finance Director Corporate Treasurer
Financial Accountant Tax Specialist
Forensic Accountant Auditor

As a full time ACCA member, you can add letters after your name to gain full recognition in 179 operating countries/regions. You can also access various Continuing Professional Development (CPD) materials to develop your skills further.

Success and security, whichever career path you choose

ACCA qualifications allow individuals to define their career path. Thanks to the financial knowledge provided, the people who study at ACCA can work their way up the ladders of traditional businesses. From financial managers to board-level CFOs, junior accountants to financial analysts, you can expand the scale of your skills and career.

However, what is less known is that many members have reached the executive level from the non-financial department. For example, some people work in big data, information technology, and analytics. In contrast, others work in non-governmental organizations or the public sector. So during 2021, there are tremendous ACCA global job opportunities for professionals.

A flexible qualification for modern students

If you think gaining qualifications is about a whiteboard, a desk, a pencil, a notepad, and a full day in class, think again. The scenario has changed, and we have to adapt to it. While traditional classroom learning remains a popular and valuable option, now ACCA is available to many global mobile users.

We know there is a growing need for flexibility because people who cannot attend school and live in remote areas now have the opportunity to learn ACCA and make their dreams come true. We hope that those who work or have family responsibilities can study while fulfilling their responsibilities. People can also study at night because there is no need to visit the traditional classroom during the day. That is why you can study ACCA full or part-time, in or without a school, via ACCA online course platform.

Turn your qualifications to your advantage.

If you want to use your accountant qualifications in different positions, there are many recruitment opportunities. The potential for high commissions, the cut-and-thrust of the work environment built around business development, and the needs of highly service-oriented industries are not the factors that everyone likes. However, for those who succeed under pressure and goals, the industry warmly welcomes them.

However, be careful because the most common mistake accountants make is to underestimate recruitment as a sales-driven industry. Financial recruitment is not simply about understanding the role, communicating with clients and matching clients to a job description.

For those who want to practice their accountancy qualification in a different capacity, abundant opportunities exist, most notably in recruitment. However, the potential to earn high commissions, the cut-and-thrust of a workplace environment formed around business development, and the demands of a highly service-oriented industry are some of the factors that do not appeal to everyone. Still, for people who thrive on pressure and targets, the industry presents a warm welcome.

You have to sell to both candidate and client. You have to be good at marketing yourself and the organization you represent. Most importantly, you have the right personality, motivation, skill set, and entrepreneurship.

Conclusion

Students with ACCA qualifications can add the initials of ACCA after their names to allow them to pursue a broader range of careers in ACCA. Students acquire accounting and financial skills and knowledge and acquire valuable skills in management and organizational strategy as the scope of ACCA is very bright in 2021. In addition to ACCA careers in accounting, ACCA qualified students can work in many fields such as finance and banking, auditing, consulting, law and taxation, and other general business administration fields. ACCA's qualified salary is comparatively high to others.

article1Mohamed Shafi

article1

He is a Financial Accounting trainer with over 7 years of teaching experience in Financial accounting fundamentals and software. Apart from training experience, he has industry experience of two years as a senior accountant at GCC countries. He is well versed in Tally, Sage 50, Zoho Books and SAP FICO.

He follows easy to learn methodologies which work wonders on his training. He loves to travel a lot and has a craze in driving too. His passion for teaching and training engages him to attend conferences and in exploring new areas of learning.

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