Why study the ACA?
The ACA (Association of Chartered Accountants) is the ICAEW’s professional qualification in accounting, finance and business. The ACA is an internationally recognised qualification and one of the professional accounting qualifications that most students will consider when looking at a career in accountancy or finance.
The ACA qualification allows you to learn whilst you earn, balancing practical work experience with 15 challenging technical exams. But it is not going to all be easy. Like any other professional qualification, it is not supposed to be easy. It has been designed to challenge and develop you both as an skilled accountant and as a professional employee.
But is the hard work worth it? We think so. Here are seven reasons why:
1. Flexibility and range of work – the ACA gives you the ability to work in all environments both in the UK and abroad. This could be in industry or practice, in a corporate environment or the public sector, in small or large company or organisation and on a full time or part time basis. This flexibility will enable you to find a role that centres on the type of work that you are interested in an environment that fits your lifestyle.
2. Highly regarded – The ACA qualification is recognised across the globe and seen as more than just a finance qualification. In 2018, over half of FTSE 100 bosses had a background in finance, with 18% having an accountancy qualification
3. Variety of work and opportunities – the ACA gives you a chance to learn about a range of topics which not only give you a better base understanding of business and finance but enables you to discover what you are really passionate about. This breadth of knowledge will allow you to work on a wide range of projects and clients giving you variety in your work whilst helping you to develop your professional skills.
4. Practical work experience – the ACA combines practical work experience with technical learning, meaning that you get to apply what you are learning at college to real life situations. This is a great way to consolidate your knowledge and means that you get paid whilst learning!
5. Great earning potential – Average graduate starting salaries are over £30,000, and ACA qualified accountants earn, an average, £51,000 within two years of qualification. This doubles as your experience increases with the average ACA chartered CFO or FD earning six-figures.
6. Internationally recognised – The ICAEW's membership recognition agreements with accountancy bodies around the world means that you will often be able to join a local institute without sitting further assessment. This ICAEW is also member of the Global Accounting Alliance which supports accountants from members firms whilst working overseas.
7. Different entry options – the ACA qualification is available for graduates, those coming from a background in industry or practice and for school leavers (via the Certificate in Finance, Accounting and Business “CFAB” qualification).
8. Support system – there are excellent support mechanisms in place for all ICAEW members across all areas, whether it be ethical, technical or legislative support. In addition, CABA provides support to members of the ICAEW to help promote well-being; this includes legal and debt advice, emotional, health and wellness support, financial assistance and career development support.