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Ten Career Options for ACCA Graduates

With the ACCA qualifications, you can become a member of the Association of Certified Chartered Accountants. A global accounting organization that covers all aspects of business management and is known by companies globally. You can find various job roles after ACCA.

It is centered on international accounting and auditing standards accepted in many countries/regions and can help candidates develop the knowledge and skills needed to evaluate their business solutions. Therefore, ACCA Training is very important for ACCA global jobs.  

How to Decide Whether You Need ACCA?

Before looking for different options, keep the following three questions in mind.

  • Where will you be ten years from now? Do you want to have your own company? Or do you think you are an auditor of four significant companies or multinational companies?
  • What are your hobbies? Do you want to do a primary finance job after ACCA, or do you know different fields?
  • Want to pursue your career outside of the financial sector? Do you follow the law? Or a degree of administration?

The ACCA certification prepares candidates to adapt to a rapidly changing business environment. Once you have the answers to these three questions, you need to consider your options.

Job Opportunities After ACCA

To start with your certification journey, you must first understand the ACCA Exam Pattern and StructureThen it is important to research and prepare for exam according to the exam syllabus. The following are the job opportunities after ACCA certification.

  • Financial Accountant
  • Management Accountant
  • Credit Controller
  • Chartered Financial Analyst
  • Financial Controller
  • Business Owner
  • Accounting Assistant
  • Corporate Treasurer
  • Auditor
  • Tax Specialist
  • Financial Accountant

Financial accounting refers to the technique of recording, summarizing, and interpreting transactions that appear as a result of commercial transactions over a particular period. A financial accountant evaluates financial information with the help of financial statements and balance sheets. They are also accountable for planning the organization's financial statements for outside parties such as tax authorities, creditors, regulators, investors and shareholders. Of course, you also need to develop business strategies to increase income and profits.

  • Management Accountant

The procedure of evaluating the operational and business costs needed to generate financial reports is the foundation of management accounting. These reports can help managers set goals for their organizations. The managing accountant is responsible for identifying, measuring, evaluating and communicating the organization's financial information. They analyze critical organizational information and data used to help management make essential business decisions. Their role may look similar to that of financial accountants who give financial statements to external organizations. However, management accountants are responsible for measuring the performance of the organization's internal controls and strategies. The difference is that it analyzes information.

  • Credit Controller

They handle the company's debt and run their business. Credit managers need to keep strong customer relationships to ensure the effective operation of their credit management services. Their daily work includes the following:

  • Management of corporate debtors and credit recovery.
  • Evaluate the new credit application.
  • Check the customer's credit ranking with the bank.
  • Prepare a customer status report.

 

  • Pursue CFA (Chartered Financial Analyst)

CFA is the best degree after ACCA and supports your financial career. It features the best organizations in the world, including the Big Four. CFA concentrates more on finances rather than management. The course includes three levels of exams. Since you already have an ACCA qualification, learning and completing the CFA can be easy.

  • Financial Controller

A financial manager, also known as a "financial controller," is usually a chief manager of an organization. They are typically responsible for the organization's accounting department, ensuring that the company and legal needs keep the organization's financial records and books. While these auditors primarily focus on historical records, they can perform other tasks, such as budgeting processes, compliance audits, and financial data valuations.

  • Business Owner

If you wish, you can also set up your own business in finance and other fields. ACCA can help you run your business in a variety of unexpected ways. For example, you can also set up your consulting firm or act as an independent financial advisor for small businesses and freelancers. Working abroad as a freelancer or beginning your own business is also a good choice.

  • Accounting Assistant

This is a junior accounting position directed by the organization's Finance Director or Finance manager. Job assignments vary from organization to organization, but the most common tasks are accounting, managing the organization's financial accounting. They also manage collections and record and prepare financial and payslips.

  • Corporate Treasurer

The corporate accountant is responsible for securing the organization's capital to fulfil its obligations. Their roles also consist of formulating financial policies and strategies, organizing expansion funds, advising on investment opportunities, and managing financial risk. In addition to these tasks, Enterprise Treasure also attaches importance to financial markets, mergers and acquisitions, and credit lines' negotiation. This work consists of five main parts:

  • Capital markets and funding: including evaluating and obtaining funding methods offered to your organization.
  • Liquidity and cash management: This factor confirms that your organization's "cash needs" are met.
  • Corporate financial management: to ensure that the organization's financial, management, and business strategies are consistent with the organization's goals implies corporate financial management.
  • Risk management: Risk management is identifying, evaluating, and mitigating risks that an organization may face. Corporate accounting is also accountable for ensuring that the organization uses proper risk management techniques.
  • Treasury operations: understand the latest financial trends, communicate with investors and bankers, cultivate active partnerships, gain a deeper understanding of funds and solve financial problems, including solution delivery.

 

  • Auditor

The auditor checks and certifies the accuracy of the organization's financial and operational data and reports. Auditors generally work for large accounting organizations such as Deloitte, PricewaterhouseCoopers (PwC), Ernst & Young (EY), and KPMG. As a result, the organizational record is consistent with the regulatory framework. Audited financial statements also help build investor and shareholder confidence and decrease organizational risk.

  • Tax specialist

The role of this job is usually found in accounting or professional services companies. The job of a tax expert is to advise customers on national and international tax law and personal and professional issues. They are also accountable for helping organizations meet their tax obligations.

Salary of the ACCA Professionals

The scope and opportunities for ACCA professionals are high and will continue to grow in the future. 

  • The starting salary can fluctuate greatly depending on the position and size of the company, department, and qualifications. As a graduate, you can begin with a salary of around £ 25,000.
  • Once eligible, the salary ranges from £ 26,000 to £ 45,000 (senior accountant position).
  • With extensive experience, salaries range from £ 40,000 to over £ 100,000 (manager-level positions).

The starting salary for the corporate and public practice is usually more significant than the starting salary for the public sector. For example, certified accountants working in banks and insurance companies usually earn higher salaries.

Some organizations provide extra subsidies, for example, profit sharing, pensions, private health insurance, car allowances, and bonuses. In some cases, bonuses that can achieve a significant level are fixed amounts or centered on personal and business performance. Bonuses are frequent in the financial services and corporate sectors. The income amount is for reference only.

Conclusion

The choice of career depends entirely on your choice. Your opinion may vary from our opinion, but please do not stop after ACCA. Alternatively, continue learning and gaining knowledge after following one of these paths.

Here at Ujuzingo, we've made it a habit to support accounting and finance enthusiasts put their best foot forward as they search for opportunities that meet their skills and career aspirations, while also assisting employers in finding more job-ready applicants. Check out our accounting and finance courses or current job openings.