ACCA stands for the Association of Chartered Certified Accountants, which is a leading international accountancy body. Its members are required to pass a series of examinations in order to qualify. The qualification is internationally recognised and is treated in other countries as being equivalent to the local one.
The examinations cover all aspects of business management from the purely technical - such as bookkeeping and cost accounting - to the more theoretical aspects such as motivational theory and theories of risk.
In this respect it is very similar to an MBA, but it offers a much more practical emphasis. The qualification is not aimed at any one particular business sector - the examinations cover all areas of business management.
The benefits to the employee of successful qualification are the personal satisfaction of having acquired the business skills, and better employment prospects as a result of having shown their ability in all areas of business.
The benefit to the employer of encouraging their employees to qualify is the assurance that the employee has the skills necessary to progress to more senior management positions.
Benefits of ACCA qualification:
- enables you to become a Chartered Certified Accountant, use the designatory letters ACCA, and work in any aspect of finance or management in any business.
- better employment prospects as a result of having shown an ability in all areas of business.
- assures an employer that you have the skills necessary to progress to more senior management positions.
- higher status in the eyes of an employer, and also your clients
- gaining such a qualification is evidence that the holder possesses skills and knowledge which are in high demand by employers in industry, banking, auditing, consulting as well as other professions like taxation and law.
- candidates not only gain specialist knowledge in finance and accounting, but also acquire valuable skills in organisational management and strategy
- qualification is based on international accounting and auditing standards
- gives a unique position in a job market making you more competitive not only within your company or sector, but among your colleagues in the European Union, as well as enabling you to work abroad.
- personal satisfaction of having acquired the business skills
- studies in English improve Business English
Why Not MBA?
Without doubt MBA programmes offer higher level of advanced education and are prestigious throughout the world, but many of them are recognized neither by workplace nor firms.
There are no consistent standards of content or quality of an MBA programme – as these are internally determined and assessed by the university itself. That’s why one MBA degree is not comparable with another.
A University degree also concentrates on theory, and only to a limited degree prepares a graduate for practical usage.
The ACCA qualification is a passport to a new world of opportunity - once you become a member, the learning process continues throughout your career. The range of educational opportunities includes a degree qualification, a specifically tailored MBA and a constantly updated range of courses in all areas of finance and management.
To find out more about ACCA go to their web site.