The Association of Chartered Certified Accountants (ACCA)The ACCA is a globally recognised certification for aspiring accountants and finance professionals. With over 240,000 active members and over 500,000 students across some 180 countries – it is recognized as widely as one of the most popular and respected professional accountancy courses. The ACCA course has seen an unprecedented demand in India in the recent past due to globalization, the proliferation of multinational companies (MNCs) and India’s integration with the global economy.
In this blog we are going to cover about Career options, Job description, Salary & future scope of ACCA jobs in India, which will help you get a fair idea for Students and professionals who are planning their career in ACCA jobs.
Table of Contents
Why ACCA is Gaining Popularity in India
India has become a global hub for foreign enterprises over the past decade. Multinational companies doing business in India need those with a detailed knowledge of IFRS, tax and global accounting practices.
That’s precisely what the ACCA qualification gives you. Unlike local level courses like CA (Chartered Accountancy) etc, ACCA is a globally recognized course and directly covers the international accounting standards. It is one of the most in-demand qualifications for students who wish to be mobile and don’t want to limit themselves to India – or for that matter, to using their skills in UK alone.
Some of the reasons for the growing popularity of ACCA in India are:
- Worldwide Acceptance: Valid in more than 180 countries.
- IFRS Compatible: It is most applicable in a corporate world of today.
- Flexibility: Students can take exams while working or interning.
- Working in Big 4 Firms: ACCA professionals are commonly recruited by firms such as Deloitte, PwC, EY, and KPMG.
- Corporates: TCS, Infosys, Wipro, Accenture and Grant Thornton has a demand for ACCA qualified candidates in MNCs.
Types of ACCA Jobs Available in India
ACCA leads to diverse roles in accounting, auditing, finance, taxation and consulting. Now, let’s go through some of the various job positions that a qualified ACCA professional in India can undertake:
1. Financial Analyst
Financial Analysts examine monetary data, generate reports, and assist business in making sound investment and strategic decisions. ACCA qualified individuals are rich with reporting and analytics skills which is making people work in this career the most.
2. Management Accountant
This position is also responsible for the internal financial of the company including budgeting, forecasting and controlling any costs. Management Accountants advise on the decisions which help ensure the long-term success of a business.
3. Auditor (Internal & External)
Auditors inspect financial statements to make sure firms use the correct accounting standards and identify fraud or errors. ACCA provides thorough and specific auditing Knowledge which is in line with IFRS and ISA.
4. Tax Consultant
As specialists in international and Indian tax laws, there is also a huge demand for ACCA members as tax consultants. They counsel clients regarding tax planning, compliance, and cross-border taxation.
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5. Financial Controller
The Financial Controller guides an organization’s accounting regimen with management of accounting and investor relations teams, and assistance in reporting procedures. This is a desired senior role many ACCA practitioners work towards.
6. Business Analyst
Apart from regular accounting functions, you can also work as a Business Analyst in consulting services practice and corporates to look after process improvement and financial strategy.
7. CFO (Chief Financial Officer)
With time, ACCA members can attain the most senior positions in leadership, such as CFO. ACCA also weighs same as CA in many Indian organizations, leading to leadership roles in finance.
Industries Hiring ACCA Professionals in India
This need for accountants is not limited to accounting firms. They work in a broad cross section of industries:
- ‘Big 4’ Accounting Firms such as (Deloitte, PwC, EY, KPMG)
- MNCs and IT Companies (Infosys, TCS, Wipro, IBM, Accenture)
- Banks(HDFC, ICICI, HSBC, Standard Chartered)
- Advisory Firms (Grant Thornton, BDO, RSM)
- Startups and FinTech Companies
- SSCs and GCCs
The variety of options available means that ACCA professionals can have a career that reflects their capabilities and passions.
Salary of ACCA Professionals in India
The ACCA job salary in India is going to be worthwhile! Compensation can range widely depending on many important factors, including experience, position, location, and more, so let’s break it all down:
- (0–2 years of experience): ₹5 – ₹8 Lakh per annum
- (3–6 years): ₹10 – ₹15 Lakh/annum
- (7+ years): ₹18 – ₹30 Lakh annual pay package
- CFO/Finance Director (10+ years): ₹40 Lakh+ per year
Considering the traditional CA payout, the ACCA pay falls at a good range in the entry level, particularly so in the MNCs/Big 4, where international insight is appreciated better.
ACCA vs CA in India: Which is Better for Jobs?
Many students frequently ask the question of ACCA vs CA for their future career. Here is also a quick international comparison in the India job market:
- More focus on Indian laws, taxation and compliance by CA.
- ACCA concentrates on worldwide standards, IFRS, and international taxation.
- Working in Indian Companies: In India, CA holds more weight, whereas in MNCs, Big 4 firms and international companies, ACCA has an equal stronghold.
- Duration: ACCA generally takes 2 to 3 years CA is completed over 4-5 years (ACCA also has a higher pass rate).
- Global Exposure: More international opportunity ACCA provides this for more than any other.
In a nutshell – students aspiring for global career or job in MNCs opt for ACCA, whereas those interested in specialising in Indian tax and compliance, prefer to go with CA.
Future of ACCA Jobs in India
The future seems bright for ACCA professionals in India. Here’s why:
- Adoption of IFRS: As India converges with IFRS, ACCAs are in demand.
- GCCs (Global Capability Centres): Several MNCs have been establishing shared service centers in India and recruiting staff who are ACCA-qualified.
- Digital Finance Transformation: The emergence of AI, blockchain, and automation into the financial world means professionals need to keep up to date with the new age—something that is underscored by the ACCA.
- International Opportunities: Indian ACCAs too are receiving job offers in the Middle East, UK, Singapore and Australia.
ACCA is likely to gain ground in the next 5 to 10 years and become as mainstream as CA, especially in multinational and global companies in India.
Conclusion
The need for ACCA jobs in India is increasing thanks to globalization, acceptance of international accounting standards and the arrival of multi-national companies. ACCA professionals have varied career options in roles such as audit, risk, tax, consulting, leadership.
Though in India, CA is still the Bada Bhai (elder brother), ACCA is recognised to be one’s passport to the world in large organisations and Big 4s. For those who are preparing for international careers or wish to work at MNCs then ACCA is a good option.
ACCA professionals have a bright future in India and the right set of skills and experience can open the doors to exciting and rewarding careers in finance.
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