Of course, commerce and accounting graduation is a job-oriented course.
You’ve heard this many times.
Why, then, are many commerce graduates without a job? Or deemed unemployable?
Although accountancy has always been an ever-green career choice, a mere accounting or commerce degree is not enough to land a job or become employable. Employees always look for candidates with core subject knowledge, value-added competencies, and other performance-building skills.
Most students choose accountancy or commerce as they are under the false impression that their graduation will help them secure a great job. Many still make their career moves only after they graduate. There is certainly no need to wait until you graduate to make the right move. Courses like ACCA can be undertaken right after school.
Look at the overall hiring rate among graduates across different fields – 23% – a meager employability rate. It shows that there is a massive demand for accounting professionals, especially those with substantial financial and technical skills. However, there is a mismatch between the need for professional accountants and the supply of experienced and skilled candidates.
Is there a Demand-Supply Mismatch for Accounting Professionals?
In India, the employability of accounting graduates, in particular, is a mere 43% in 2022. Although it has fared well since 2021, it is only a small solace. This abysmal showing is because a graduate degree provides theoretical knowledge with very little application skill. But no employee wants to hire someone with only subject knowledge and minimal workable understanding.
Thanks to the pandemic and the ensuing economic resurgence, there is an increased demand for skilled and knowledgeable accounting professionals. And, there is a positive increase in India’s job market, especially in the Pharma, Healthcare, and IT sectors. Like any other profession, even accountancy is seeing a resurgence after the pandemic.
There is an increase in demand for accounting professionals, yes, but the role of accountants has transformed dramatically. A financial professional is no longer confined to only book-keeping. It is critical to have other essential skills and knowledge in various domains such as taxation, analysis, technical tools, auditing, insurance, and management.
How does ACCA fill the skill gap and increase employability?
One of the main reasons for the imbalance in the demand and supply of qualified accounting professionals is a lack of additional skill sets and experience. A basic BCom doesn’t satisfy the needs of employees – they want their employees to have a comprehensive knowledge of topics related to finance and accounting.
There is a focus on doing theoretical or academic courses, most of which are not preferred by employers. It is where the ACCA certification course comes into play.
ACCA is a globally recognized certification that develops a deeper understanding of financial concepts and provides thorough practical knowledge and communication skills. It trains students on various topics and develops competencies that establish them as strategic leaders and business transformers.
The areas of expertise provided by the ACCA course make you ideal for a range of job profiles. Once you enroll in ACCA, you will be developed as an expert for roles such as:
- Consulting
ACCA trains you to develop meaningful and valuable insights into organizational issues of both internal and external stakeholders. By crunching the correct numbers and identifying inefficiencies. You can devise plans and strategies that help improve business growth plans based on the changing market scenarios.
- Auditing
The ACCA course makes you an expert auditor by training you to evaluate existing systems, analyze internal controls, and conduct tasks that can help meet the organizational objectives of auditing.
- Digital Transformation
As a strategic leader, you will be trained to leverage the immense potential of the latest digital technologies and practices for business growth.
- Financial Management
You will be trained to make investment planning strategies and insurance and tax management decisions based on the business’s financial data. You will be provided complete training on appraising business reorganization plans, working capital, and investment appraisal plans.
- Risk Management
ACCA course teaches you the core concepts of risk assessment, evaluation, and management. ACCA provides extensive training on risk identification techniques, reporting, and implementing control systems.
- Taxation
With ACCA certification, you get extensive knowledge of taxation policies and systems. Industry experts provide real-world scenarios to test your subject knowledge. Moreover, the entire course structure helps you analyze and establish the tax liabilities of companies and use appropriate tax planning for proper computation.
Job Roles and Growth Prospects of ACCA Candidates
ACCA trains you to become an expert in various subject areas and take up top-notch job profiles in major companies such as the Big Four and other corporations.
Since the course provides specialized training, you can get placed in any role you prefer.
Financial Accountant
Any number of roles are open for someone with proficiency in financial accounting. You can be a credit risk professional, debt analyst, funding administrator, valuations expert, and investment banking professional. And soon rise to a senior level management position such as fund manager, investment manager, and business reconstruction professional.
As a financial accountant, you are responsible for recording, analyzing, and interpreting business transactions and preparing authentic balance sheets and cash flow statements.
Corporate Treasurer
The corporate treasurer’s role is crucial in the industry as they help shape business growth, devise strategies, and help manage financial risks. You’ll be trained to assess the existing financial markets and negotiate mergers and acquisitions.
As someone with ACCA, you can be placed in the top organizations as a capital market analyst, risk management specialist, liquidity and cash management expert, and treasurer.
Financial Controller
ACCA also prepares you to take up senior-level positions such as financial comptroller, who is in charge of the reporting, analysis, and strategic development. You should ensure that the financial books are legally compliant and auditing-ready. Moreover,
You can start as an accounts assistant or finance manager and climb up the career ladder as an asset manager, financial controller, reporting accountant, and accountant general.
Tax Specialist
Tax specialists are one of the most sought-after job positions for ACCA candidates. As a tax specialist, you will be responsible for tax planning at national and international levels. You can start your career with a tax accountant position, a payroll professional, or a compliance analyst.
However, the advantages of ACCA will take you to higher-level positions such as tax compliance manager and international taxation specialist.
Auditing Expert
With an ACCA certificate, you can be placed as an internal or external auditor to analyze the quality and authenticity of financial statements. Moreover, you can also get placed in top auditing firms such as PwC, KPMG, Deloitte, and EY.
You can begin your career as an audit manager or specialist and quickly move to a higher-level position such as an auditing partner or an auditing general.
Perks of ACCA Certification
Everyone wants diverse career options and a definite growth trajectory.
True!
Yet, the ACCA courses are preferred not only for these reasons. Among the many perks, ACCA salary packages, global exposure, and the chance to seek international jobs are the top reasons people choose ACCA compared with other professional courses.
- Salary Packages
With ACCA under your belt, you can negotiate competitive salary packages and become the top priority for head hunters.
The course gives you core knowledge, technical skills, and communication expertise, making you the top contender for most high—profile ACCA jobs. You will have the freedom to choose the job role you prefer and negotiate a lucrative pay package.
- Global Exposure
What makes ACCA most attractive to students is the global exposure they enjoy.
How would it be if you had an international curriculum taught by industry experts?
After you ace the course, you join an elite club of international professionals. You can enjoy global exposure and access to international jobs. Moreover, the network of accounting and financial professionals allows you to attend seminars and events and connect with industry leaders.
Why is IMS Proschool a Preferred Training Institute?
Getting an ACCA certification opens several career opportunities for you. It trains you to become experts in the accounting and financial fields. Although many institutes offer this certification, the opportunities that come your way depend on the institute you choose for the course.
The general ACCA pass rate of IMS Proschool students is about 70% – leaps and bounds higher than the 35% pass percentage of other institutes. The abysmal pass percentage and complete mismatch between skilled financial professionals increase the demand for ACCA professionals from IMS Proschool.
But what makes IMS Proschool a highly preferred ACCA training ground is that it has handpicked industry experts who bring both professional knowledge and practical experience to the fore.
When you train with IMS Proschool, you can be sure of getting your preferred job right after the completion of the course. The course is delivered in a flexible – online, offline method – giving you complete control over your learning. You can also enjoy placement assistance, mock interviews, mentoring system, and excellent study materials.
When you are trained for ACCA from IMS Proschool, you are prepared for various job profiles and roles from the word go.
Get Job-Ready Training from Industry Leaders
Perhaps very few courses can boast of giving a sure-shot way of getting a job. And one such course is ACCA. It has everything the current and progressing economy is looking for. When you get the ACCA certification, you become an expert in various subjects. Get your ACCA training from IMS Proschool, and edge out the competition to become the number one choice for head hunters and businesses.