The Association of Chartered Certified Accountants (ACCA) is the world’s fastest growing accountancy qualification, with 208,000 members worldwide. It is rapidly increasing in popularity in the UK, with many professionals choosing to qualify with the ACCA, and consequently achieving ACCA membership.
In order to gain membership of the ACCA, you will need to have:
Passed your ACCA exams
Had three years of practical experience
Completed the Ethics and Professional Skills course
After completing these three steps, you will be invited to become a member of the ACCA, opening up a whole new world of resources and benefits which can enhance your career as an accountancy and finance professional.
But what makes becoming an ACCA member so desirable? In this article, we list the Top 5 Benefits of an ACCA membership:
- The ACCA is globally recognised
The ACCA offers its members the opportunity to be part of a vast global network of accountancy and finance professionals. The ACCA community stretches across 179 countries, which means that there is the option to work anywhere you choose.
The ACCA qualification is highly respected worldwide, widely recognised as an association which embodies integrity, ethics and professionalism. The qualifications are developed in line with employers’ international accounting standards. Therefore, organisations are confident that ACCA accountants are competent individuals who are aware of the financial laws and rules in their particular country.
Study is highly flexible
The study options for the ACCA are very flexible. You can choose to qualify at your own pace; full time or part time, through courses or at home.
No matter how you prefer to learn, there are a range of study methods available. If you learn best with face to face tuition, you can attend courses offered by Approved Learning Providers. Equally, if you prefer working more independently, you can complete modules online.
For example, those who are working alongside qualification may opt for a self-study approach if they are in full time employment. There is no restriction on choosing your study options – you can mix and match methods from one exam to the next. The freedom to decide how and when you learn is one of the ACCA’s core benefits.
Enhanced experience and continuous development
Part of gaining ACCA membership is completing 3 years of practical experience. A good way to really make the most of this experience is to work and study simultaneously. This allows you to develop both your theoretical and practical knowledge in a real-world setting.
The evolving nature of finance means that being book-smart with no real exposure to the inner-workings of a business will limit your career development. Many organisations provide study support and training opportunities to ACCA students, so this option for part-time study is a great way to develop your skill set in other areas.
When you become an ACCA member, you will receive support to continue your professional development throughout your post-qualified career. You will automatically gain access to a wealth of CPD resources and training programmes designed to build on your existing skills.
There are great career prospects
An ACCA membership means that you can work in any business sector – from private practice and financial services to the public and corporate sectors. A formal qualification which is so globally recognised will set you up well for any career within accounting and finance.
As well as the continuous career enhancement as mentioned above, there is also the opportunity to become a FCCA (Fellow Chartered and Certified Accountant). This can be achieved when you have been an ACCA member for 5 years and have completed your Continuous Professional Development modules.
You will be instantly awarded a fellowship with the ACCA, which indicates to employers that you have significantly developed your knowledge and expertise, and that you have demonstrated a commitment to the profession.
Higher Earning Potential
The ACCA qualification carries prestige and credibility which is widely recognised by employers. Its status means that as an ACCA Chartered Accountant, you have enhanced your career enough to be able to negotiate a higher salary. ACCA members have the opportunity to continuously develop professionally, and this is grounds for you to demonstrate a solid case for a pay rise, as both your experience and skills increase.
Although annual salaries vary depending on location, experience level etc, according to the 2018 GAAPweb Salary Insight Report, the average salary for an ACCA accountant is £57,598.
ACCA membership is a great steppingstone to career development, broadening your skill set and opening the door to global opportunities.
For more information about the ACCA qualification, check out more of our ACCA related articles below, or visit the official ACCA website.
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