ACCA, the Association of Chartered Certified Accountants, is a globally recognised professional accountancy qualification. It is respected for its high ethics, education, and professional development standards. Companies all across India also like to prefer professionals with international accreditation. So, is there a reason why employers prefer ACCA-certified candidates? Certainly yes. They do so because they know ACCA members are strategic thinkers with high moral character, solid financial acumen, and sound commercial judgment.
Another critical reason for the high acceptance is that the ACCA curriculum is aligned with International Financial Reporting Standards (IFRS), which are increasingly being adopted in India. This alignment enhances the relevance of ACCA in the Indian business landscape.
Let's look at some entry-level roles you can get with an ACCA qualification:
Financial analyst: An entry-level Financial Analyst analyses financial data, assisting in preparing reports and forecasts. They evaluate financial performance, trends, and investment opportunities. Responsibilities often include budgeting, cost analysis, and supporting decision-making processes. They collaborate with teams to provide insights for informed financial strategies. This role helps gain valuable experience in financial analysis and business decision support. The salary range for this role ranges from INR 4-6 lakhs per annum.
Auditors: Generally under the guidance of senior auditors, audit assistants are entry-level specialists who prepare, monitor and analyse financial statements/reports. Through their research and recommendations, they play a significant part in assisting the entire audit team. As an entry-level auditor in India, you can expect a starting package between INR 3-5 lakhs.
Tax accountant: In an entry-level Tax Accountant role, individuals assist with tax computations, filings, and documentation. They work on tax returns, ensuring compliance with tax laws and regulations. Responsibilities include analysing financial data to optimise tax strategies for clients or the organisation. This role provides foundational experience in tax accounting and an understanding of Indian tax codes and practices. You can start in this role within INR 3-5 lakhs, but it offers immense growth potential.
Financial reporting analyst: A Financial Reporting Analyst in India is responsible for compiling, analysing, and interpreting financial data to create comprehensive reports for stakeholders. This role involves presenting financial performance, trends, and insights to aid decision-making and strategy. It offers a platform to develop expertise in financial reporting practices specific to the Indian market.
Compliance officer: This role is responsible for an organisation's compliance with regulations, laws and licensing requirements. It helps in maintaining ethical, legal and regulatory risks. The starting salary range for such roles is between INR 3-5 lakhs per annum.
Budget analyst: Financial plans and budgets are examined by budget analysts, who make sure that resources are allocated effectively and following organisational objectives. Their expertise enables businesses to plan and carry out projects efficiently while maximising financial resources. Budget analysts make between INR 3-5 lakhs a year and are fundamental to the organisation's financial success.
Risk analyst: This role is responsible for assessing and managing all kinds of financial risks. The position is responsible for conducting risk assessments that further help organisations develop strategies to navigate potential risks in pursuit of profitable growth. Initially, you can expect to earn INR 4-6 lakhs per annum.
Cost accountant: Cost accountants evaluate manufacturing costs and aid in expense optimisation, offering knowledge that helps improve financial decision-making. Their knowledge is beneficial to companies looking to boost efficiency and profitability. Cost accountants work in various businesses, including manufacturing and production, and earn an annual income of about INR 3–5 lakhs per annum.
Account payable/Receivable clerk: For the organisation, accounts payable/receivable clerks are in charge of handling invoices, payments, and receipts, as well as maintaining precise financial records. While entry-level jobs typically pay between INR 2-4 lakhs annually, they offer prospects for progression in the accounting and economic fields and significant experience.
Hence, ACCA represents professional excellence and can be considered a valuable addition to any aspiring accounts/finance professional. To a few, entry-level salaries might not sound enticing enough. However, with experience and further qualifications, entry-level compensation can rise dramatically, resulting in improved pay scales and access to higher-level roles as professionals advance in their careers.
About the Author: Mr. Anant Bengani is the Director & Co-Founder of Zell Education, one of India's fastest-growing ed-tech organizations in Accounts and Finance. He has studied his Chartered Accountancy with his Bachelor's in Financial Markets from H.R. College of Commerce & Economics. His multidimensional educational background enables him to approach challenges from various perspectives and enriches his ability to mentor and guide aspiring students.