Different Accounting Qualifications to Boost Your Career Potential
An accounting qualification is the best way to professionalise your career as it provides you with information exceeding the basic technical and instrumental areas. This is because as a student of accounting, you have to undergo a wide range of training involving professional rationalism and the art of distinguishing between private and public interest.
Qualified accountants are in great demand because of their expertise in re-shaping organisational networks. So, before you question yourself why should you choose this direction, it is better to be aware of all the various accounting qualifications available.
Associate Chartered Accountant (ACA)
As a top-tier business diploma, ACA accountants are exposed to highly improvised learning and workplace training modules. This is a five-year course to be completed from the Institute of Chartered Accountants in England & Wales (ICAEW). The takeaway is that it is required to join a training agreement with an authorised employer, prior to getting admitted to the qualification.
Association of Chartered Certified Accountants (ACCA)
This course is business-relevant, one for those who desire to achieve an enriching career in accountancy, finance and management. The best part is that you do not need to get involved with any training agreement, which gives you the freedom to connect with different employers during the qualification.
Here is a list of ACCA’s digital qualifications to guide aspiring students gain ACCA course online experience, without having a business background:
Accountant in Business: This can be taken up by all students willing to learn how employees and systems of an organisation interconnect with the world and each other, this course is the definite one for you. Additionally, this helps you prepare for the ACCA exam, Accountant in Business (AB), leading to a diploma in Accounting and Business.
Financial Accounting: This introductory qualification will help you to:
- Learn recording, processing and reporting business transactions;
- Using the trial balance and develop your precision towards identifying and correcting errors;
- Get in-depth knowledge about drafting financial statements and understanding the qualitative characteristics of useful information.
Management Accounting: Through this qualification, you will be able to enhance your knowledge and comprehension as to how you can rightly proceed to make financial and investment decisions. It helps you better understand:
- How organisations finance their operations;
- To plan and control cash flows;
- How to make the best use of working capital;
- Principles of making capital investment decisions.
Intermediate Bookkeeping: Certified accountants who pass this qualification will learn how to:
- Enhance their financial and accounting skills;
- Prepare financial statements;
- Prepare for the Maintaining Financial Records (FA2) exam;
- Prepare to assume the position of an accounting administrator or a bookkeeper.
Certified Public Accountant (CPA)
The completion of this qualification requires you to have specific work experience as well as a good score in the comprehensive exam, conducted by the American Institute of Certified Public Accountants (AICPA). Certified students, with a CPA licence, can then progress in different avenues of financial management and accounting.
Chartered Financial Analyst (CFA)
CFAs are trained to conduct investment analysis and portfolio management. The three-level exam for this certification must be completed consecutively, prior to achieving the CFA license. This certification is globally recognised and specifically enhances the CFA’s skills as portfolio managers. Some CFAs also become research analysts or consultants.
To brief in, the major perks of an online accounting qualification are:
- Gives you the confidence to start a career in business, finance or accountancy;
- Offers an opportunity to study business or finance at school or college;
- Gives you a platform to launch your own start-up.
Accounting qualifications equip you with skillsets to prepare and evaluate finances for your business plan and manage your working capital. A qualification in accounting cannot be confined to specific career opportunities but translates into a lifelong learning opportunity. With students engaging in research based on design, methodology and extraordinary financial approaches, introductory accounting qualifications are the prime foundation of the financial world.
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