Why is ACCA Getting Popular In India?

Imagine holding a qualification that opens doors not only in India but also paves the way for global opportunities. That is exactly what ACCA offers, and it’s rapidly becoming one of the most sought-after qualifications in the country. As businesses become increasingly complex and interlinked, the requirement for finance professionals holding cutting-edge qualifications goes up multi-fold.

What then is fuelling this meteoric rise? Why should ACCA be the first-choice professional qualification for any aspiring accountant in India? Let us delve into the growing scope of ACCA in India and abroad and find out what makes this qualification the ultimate booster for career growth.

Nowadays, you must have heard about the popularity of the Association of Chartered Certified Accountants in India. Why so? The ACCA is a critical credential in the fast-paced domains of finance, accounting, and audit. The growing number of multinational companies and MNCs in India is credited with the ACCA qualification’s rise in popularity. CEO of ACCA Helen Brand states that having an ACCA certification improves a candidate’s chances in different fields. It may include risk advisory, taxation, management and financial accounting, which attracts top MNC employers. With its headquarters located in London, ACCA is a prestigious global accountancy body. It boasts over 200,000 members worldwide. In this blog we will explore why ACCA in India is so popular.

Is ACCA Worth It in India?

Definitely, ACCA certification offered by the Association of Chartered Certified Accountants is recognized across the globe and also is increasingly valued by Indian employers. Since India is integrating more and more with global markets, the need for finance professionals with expertise in international accounting standards is on the rise. ACCA makes the candidate equipped with the skills and knowledge required and places them in a prime position to succeed in both the home and international markets. Hence, making it a very worthy investment.

Demystifying the ACCA: Does ACCA have a Scope in India?

 ACCA is seeing an increase in popularity in India. There are many companies such as Earnst & Young (EY), Grant Thornton, KPMG in addition to other ACCA approved employers hiring ACCA talent. In India this financial year, ACCA Careers has resulted in more than 5000 jobs this year. It has established itself as a respected credential in accounting and finance. Internationally recognized certifications such as ACCA are in high demand as India’s economy continues to integrate into the global economy.  

Worldwide Recognition

With more than 200,000 members spanning 180 countries, the ACCA in India is a globally recognized certification. Professionals looking for opportunities abroad find great value in its international standing. Due to their widespread recognition, multinational companies and organizations doing business in India find ACCA holders attractive. 

Extensive Curriculum

The ACCA subjects cover a wide span from reporting to auditing, taxation, and ethics. This comprehensive curriculum ensures that ACCA-qualified professionals have a well-rounded understanding of the financial landscape, making them versatile and highly employable.

International Businesses and Multinational Corporations (MNCs)

The need for professionals with international qualifications has increased. This is because of the influx of multinational corporations and foreign businesses opening operations in India. Since ACCA is a globally recognized credential, it fits in nicely with these MNCs’ requirements. 

Numerous of these businesses recognize and appreciate the thorough and useful knowledge that ACCA holders provide to different fields. It includes taxation, risk advisory, and management and financial accounting.

Rising Need for Accountants

With the growth in the economy of India, the scope for ACCA-qualified professionals has also risen. It is because ACCA professionals not only have deep knowledge of Indian accounting standards but also international accounting standards, they can easily catch the eye of multinational companies operating in India.

Changing Regulatory Environment

India’s regulations are changing to take into account and acknowledge foreign qualifications. The growing scope of ACCA professionals in India is partly due to the organization’s recognition by employers and regulatory bodies in the country. With more organizations realizing the benefits of having a globally recognized credential, ACCA is probably going to gain even more acceptance.

Partnerships and Accreditation

ACCA has established alliances with numerous Indian professional associations and educational institutions. Collaborating with universities and coaching providers allows candidates to pursue and finish the ACCA qualification in an organized manner. These collaborations improve the ACCA program’s visibility and accessibility in the Indian educational and professional landscape.

Benefits of ACCA Membership

Global Network: Members of the ACCA join this huge network of global professionals, opening up excellent career and networking opportunities.

Continuous learning: ACCA ensures its members engage in continuous professional development to keep them updated on trends in the industry.

Exclusive Resources: Members receive a host of resources, technical updates, research reports, and expert advice.

Career Support: The ACCA offers customized career services that enable its members to achieve their professional goals through job boards, career counselling, or skills workshops.

Low membership fees: On the contrary, the membership fees charged by ACCA are reasonable in consideration of the type and variety of benefits said to be enjoyed by its adherents, as well as the international recognition that comes with it.

Partnerships with Indian Institutions

ACCA has developed strong affiliations with many educational institutions in India. ACCA collaborates with universities and coaching providers to allow candidates to pursue and complete the qualification in a structured and supported setting. 

These partnerships raise the profile of the ACCA qualification and increase its accessibility to many more, so it is more visible within the context of Indian education and professions. Through this kind of partnership, students could be offered integrated programs where exemptions from the ACCA examinations will be attached

Career Growth and Opportunities after ACCA 

Passing the ACCA qualification opens up a world of career opportunities within and outside India. The reputation this qualification holds within the sphere of finance and accounting is great, and because of its globally recognized status, it has become highly sought after by several industries. Be it ascending the corporate hierarchy in a multinational company or some specialized function in finance, the knowledge and skills, coupled with the credibility gained from having this qualification, help accelerate one’s growth in their chosen career field.

Exploring Lucrative Job Opportunities after Doing ACCA With a High Average Salary

Obtaining a qualification from the ACCA provides access to profitable employment opportunities in various sectors. Because of their extensive skill set, global perspective, and ethical practices, ACCA-qualified professionals are highly sought after because of their unparalleled professional skills. ACCA in India performs well in positions like financial analyst, risk manager, and strategic advisor in multinational firms.

ACCA-qualified individuals are actively sought after by the Big 4 accounting firms for advisory, tax, and audit services. The financial services industry includes banking and investment management, which is also full of opportunities. The flexibility of ACCA is also demonstrated in corporate finance. Consulting firms highly value ACCA for its roles in risk advisory and strategic financial management.

ACCA Scope in India

You might have this question if ACCA is a global institute then does ACCA have scope in India? Well, we are here for you! Yes, the scope for ACCA in India is immense and spans across industries, from auditing and taxation to financial analysis and management consultancy. It is highly regarded by large multinational companies, Big Four accounting firms, and top-tier financial institutions. An important point to note here is that an ACCA professional will be well poised in a leadership role in the finance department, where one can help advise on key financial decisions and lead at the forefront for compliance under international standards.

Scope of ACCA in Abroad 

If you want to work or move abroad knowing the scope of ACCA in abroad becomes crucial for deciding whether it aligns with your future career goals or not. The worldwide acceptance of ACCA certification has magnified in scope of ACCA in abroad. Countries like USA, UK, and UAE have showcased their demand for ACCA certification holders.

USA:

In the USA, there is an ever-growing demand for ACCA professionals for financial reporting and internal auditing in big multinational corporations as well as in corporate finance. The extensive curriculum of the ACCA qualification helps to sharpen practices related to the complexities of US regulations and Financial practices.

UK:

UK is a key market for ACCA-qualified professionals, where the qualification is highly valued in public practice, corporate finance, and management accounting. ACCA professionals in the UK often find roles in prestigious firms and organizations, contributing to strategic financial decisions.

UAE:

Against the backdrop of a rapidly growing business environment, the UAE offers ACCA professionals lucrative career opportunities. Crucial roles include financial management, auditing, and consultancy. Therefore, companies—local and international—are on the lookout for qualified individuals to hold these positions.

ACCA Salary in India

The salary offered for an ACCA designation in India is competitive in terms of global recognition and demand. The starting average compensation for freshers in the ACCA qualification will lie between INR 6,00,000 – 9,00,000 lakhs per annum, depending on factors like location, industry, and experience. ACCA salaries in India can increase rapidly with years of experience and seniority and cross INR 15 lakhs per annum in high-demand sectors like finance, consulting, and multinational corporations.

Companies You Could Work With an ACCA Qualification

An ACCA qualification is merely a doorway to some of the world’s most prestigious companies. The Big Four accounting firms, namely Deloitte, PwC, EY, and KPMG, are known to recruit professionals with an ACCA qualification for various roles ranging from auditing to financial consulting. These companies offer dynamic career paths necessary to fast-track growth and international exposure.

Apart from these international conglomerates, many multinationals across all industries look for ACCA-qualified professionals for all their important finance roles. At Zell Education, we also have paid placement drives, which increase the probability of getting placed in top companies. Our dedicated placement team ensures our students are not only well-prepared but also connected with appropriate opportunities to kick-start their careers.

Conclusion 

The ACCA certification offers the best opportunity to get to great heights in your financial career. With a great deal of recognition, versatility in its curriculum, and excellent demand in the job market, ACCA is an extremely worthy investment for your future. So, are you ready for the next step? Connect with us for a free counselling session at Zell Education and start your journey to a successful career with ACCA!\

FAQ’s on Why is ACCA Getting Popular In India:

What is the fees of ACCA in India?

The fees for doing an ACCA in India would be approximately INR 3,00,000 to 4,00,000 lakhs, including registration, exam fees, and study resources. Again, this cost could still be lower or higher, depending on the exemptions one gets and the study materials that are used.

Which country is best for Indian ACCA?

Other than India, the United Kingdom, no doubt, is a destination for Indian ACCA since the body comes in demand and is most prevalent here. This could be followed by the UAE, which is known for its booming finance sector.

Which is better ACCA or MBA in India?

If you seek a global accounting and finance career, then ACCA offered by the Association of Chartered Certified Accountants would be more suitable. However, if you want to get into the management sector then an MBA would be perfect. The choice depends on your career goals.

Which institute is best for ACCA in India?

Zell Education happens to be one of the topmost institutes for the pursuit of ACCA in India, with its comprehensive training and expert faculty, coupled with strong placement support. 

What is the average salary of ACCA in India?

With the tremendous increase in ACCA scope in India, the average salary of ACCA in India is also increasing. An ACCA salary in India ranges between INR 6,00,000 to 9,00,000 but one can earn more than 16 lakh per annum after gaining more experience. 

Partham Barot is an ACCA-certified professional. showcasing his expertise in finance and accountancy. he’s revolutionising education by focusing on practical, real-world skills. Partham’s achievements underscore his commitment to elevating educational standards and empowering the next generation of professionals.