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Why ACCA is Better Than MBA in Accounting?

For as long as a decade, a degree-holder in MBA was considered the next big talent by the Big 4’s, and, therefore, MBAs were pampered with exorbitant salaries. However, today the job scenario has drastically changed and today’s employers from all over the world demand more than a degree. MBA to a certain extent can help you get a decent job, but will that job make you employable for the rest of your life? Below are the top 4 compelling reasons that will truly change your thinking about MBA and help you reconsider

why ACCA is better

. Let us quickly get started:
 
As we all know, MBA stands for Master of Business Administration, and the full form of ACCA stands for

Association of Chartered Certified Accountants

, which is also a global body that provides candidates with a ‘Certified Chartered Accountant’ credential.

  1. Despite the rising numbers of MBA’s, the recruitment rates have fallen. India is churning out hordes of MBA’s every year which may not be the safest way to thrive in economic uncertainties. Some of the job profiles that you can expect after completing ACCA include that of an accountant, auditor, financial consultant, finance manager, etc. On the other hand, post completion of the MBA course, one can expect roles that are the best fit for the mid-management level.
  2. Besides this, employers today not only look out for candidates with higher qualifications but for someone who has more of a specialized skill set than a broader skill set. An ACCA certification focuses on providing this specialized skillset in the field of Accounting and Finance. On the other hand, MBA provides more of a holistic overview of how an organization works. The MBA degree equips the candidates well in how to handle business situations.
  3. ACCAs are more likely to go under a transformative experience that challenges them to become more confident as it also focuses on soft skills and interpersonal skills. Moreover, ACCAs can attract better senior roles faster, which leads to career progression. Unlike MBA, ACCA offers multiple options and greater mobility in terms of international location since it is a global body and has a presence throughout the world.
  4. MBA in Accounting also focuses on subjects like marketing, IT, HR, or SCM, which may be irrelevant for those candidates wanting to specialize only in the field of accounting/finance. Focusing on other subjects can be a waste of time and effort on the part of students. On the contrary, the ACCA course syllabus provides in-depth knowledge and expertise in accounting and finance which also opens multiple doors globally.

Here is a list of why ACCA should be pursued as a career option:

    1. Provides support wherever you are:
      1. The ACCA body has a global presence and plenty of resources to provide support in the home country as well as globally.
      2. Thus, having a community of like-minded professionals can have a huge impact and a lot of motivation to complete this international qualification.
      3. Not only does it provide motivation but also networking opportunities which help in quick career progression.
    2. Global opportunities:
      1. How many of us wouldn’t want to have access to global opportunities? None, right?
      2. ACCA is one such qualification that opens doors all over the world and provides a strong global network which we discussed in the earlier point as well.
      3. So, here’s a thing, one can complete ACCA training in India and then choose to build a career in Singapore or Malaysia, or even in the Middle East.
    3. Better salary:
      1. Qualifying and earning the title of ACCA is worth it because it helps in increasing your earning potential which is much higher in comparison to the investment needed to pursue the ACCA course.
      2. Thus, ACCA helps in demanding a greater salary. The starting salary for ACCA qualified professionals starts from 4 Lakhs per annum which can go up to 8 Lakhs depending on various other factors such as the ability to crack the interview, soft skills, technical knowledge, etc. 
    4. Flexibility:
      1. ACCA is a course that provides a lot of flexibility. The ACCA course can be pursued right after 10+2 and can be managed along with graduation.
      2. One can even study via live virtual class, also known as remote learning. However, we recommend taking physical classes which help in on-the-spot doubt solving and better interaction with the faculty.
      3. The ACCA exams can be given when the candidate is fully ready and confident.
      4. ACCA course eligibility criteria state that all the candidates wanting to pursue ACCA after 10+2 should have a total of 65% in Accounts/Mathematics and English and a minimum of 50% in other subjects.
    5. Sense of pride:
      1. ACCA provides an incredible sense of achievement post-completion as you get to be a part of the elite club.
      2. ACCA is quite a premium qualification and is not for everyone. ACCA requires candidates to invest a lot of resources like time and money, which in the end pays off and provides a sense of pride.
      3. So, whenever you face any hurdle, be it in your personal or professional life, you have the strength in you to draw from and this is one of the best things about the ACCA qualification.

     
    To summarize, for everyone looking to add advanced accounting skills, we recommend you get an ACCA qualification and stand out from the crowd. If you are seeking better career options or getting a definite career change, then ACCA is a must for you. To know more about the ACCA course in India, please feel free to contact our counsellors, who would be more than happy to assist you. All the best and happy learning!

    Why ACCA Should be Pursued as a Career Option