If accountancy is your career of choice, then an ACCA qualification could be the best option to achieve that, and it could also help to enhance your long-term prospects in the finance sector.
ACCA qualified accountants recognise and understand a wide variety of business accountancy styles the world over, with many countries treating it as the equivalent to their own local accountancy qualification. While this is one of the reasons the ACCA is considered one of the leading accountancy associations, it is also why there are a number of exams to pass and real industry experience is required to gain the full ACCA qualification.
There are four Foundation exams to pass in the first instance, and in order to move on to the next stage, you must also complete one year of practical workplace experience. Those who might think that the ACCA qualification is strictly about maths and finance are mistaken.
As well as learning about how to understand different accounting methods and business practices, increasingly important parts of gaining an accountancy qualification include ethics and professionalism. ACCA qualified accountants are expected to exercise ethical and professional behaviour of the highest order throughout their careers, which is why there is a single module dedicated to it with a high pass mark attached.
Working in the accountancy sector is essential to gain your full ACCA qualification, and a great deal of studying is also a strict requirement in order to pass the exams you must take. Of course, mathematical skills are an important part of gaining an ACCA qualification, but English and professionalism also rate highly. In order to give you some idea of what level of knowledge of those three core topics you need, some websites offer taster tests to measure your understanding of them.
When it comes to the actual testing, there are 14 ACCA exams. However, you may need to pass just five of those exams in order to become a fully ACCA-qualified accountant, armed with the skills to enter the business sector of your choice. Some candidates may be exempt from taking any number of the remaining nine exams due to previous relevant study or work experience or qualifications.
While having to pass just five out of a possible 14 exams may sound easy, do not be fooled. ACCA qualifications are considered by many to be the gold standard in accounting, and those accountants that have them are hard-working and have a clear grasp of some difficult concepts.
At times the hard work in the office, the studying required to pass the exams and additional emphasis placed on ethics and professionalism may seem to be a huge commitment, one you might on occasion consider to be too hard. If that moment ever comes to you, it is important to remember that the ACCA is a recognised and respected qualification that could open the door to the industry you have always longed to work in.
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